Israel's Protalix Q1 revenue surges on Chiesi milestone

Protalix Biotherapeutics

13/05/2026 12:00

Overview

Israel biopharma's Q1 revenue surged yr/yr, driven by $25 mln milestone from Chiesi

Revenue from goods sold fell due to timing shift in Pfizer orders

Net income swung to profit, mainly from milestone revenue

Outlook

Protalix reaffirms 2026 revenue guidance of $78.0 mln to $83.0 mln including Chiesi milestone

Company expects 2026 Elfabrio sales of $33.0 mln to $35.0 mln excluding milestones

Protalix anticipates 2026 Elelyso sales of $20.0 mln to $23.0 mln

Result Drivers

MILESTONE PAYMENT - $25 mln milestone from Chiesi for EU approval of Elfabrio E4W dosing drove Q1 revenue and profit

PFIZER ORDER TIMING - Lower goods revenue due to timing shift in Pfizer's Elelyso purchases after elevated orders in prior-year period

R&D SPENDING - Higher R&D expenses driven by preparations for and initiation of PRX-115 Phase 2 RELEASE trial

Company press release: ID:nPn43dlnFa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Diluted EPS
$0.22
Q1 Net Income
$18.32 mln
Q1 Operating Income
$21.15 mln
Q1 Pretax Profit
$21.14 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)