Protalix to get $20 mln milestone payment, shares rise

Protalix BioTherapeutics

18/05/2023 12:31

** U.S.-listed shares of Israel-based biopharma co Protalix
Biotherapeutics Inc  PBDA.F   PLX.N  rise 1.7% to $2.40
    ** Co to get $20 million in milestone payment from its
commercial partner Chiesi Global Rare Diseases, a business unit
of the Chiesi Group
    ** Payment triggered following FDA approval of Elfabrio for
the treatment of adult patients with Fabry disease, an inherited
disorder
    ** The amount is payable within 30 days of the FDA approval
date - co
    ** On a proforma basis, including the milestone payment, the
co's cash and cash equivalents stood at $51.6 million on
Thursday
    ** Up to last close, U.S.-listed shares of Protalix up ~72%
YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))