<span item_type="fundamental" item_id="74de1ffe6347a6cc2ab508b1e8d9ba53" counter_id="ST/US/PLX" env="prod"></span><span item_type="announcement" item_id="647873447309151745" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 33.75 M, beating the estimate of USD 11.47 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD 0.22.</p><p>EBIT: As of FY2026 Q1, the actual value is USD 21.15 M.</p><p></p><h4>Total Revenue</h4><p>Total revenue for Protalix BioTherapeutics, Inc. was $33.75 million for the first quarter of 2026, a significant increase from $10.113 million for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></p><h4>Segment Revenue</h4><ul><li>Revenues from selling goods were $7.419 million for the three months ended March 31, 2026, a decrease from $9.995 million for the same period in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span> This change was primarily due to a timing shift in Pfizer’s purchases, partially offset by $3.5 million in sales to Chiesi that did not occur in the prior-year period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></li><li>Revenues from license and R&amp;D services were $26.331 million for the first quarter of 2026, a significant increase from $0.118 million for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span> This increase primarily resulted from a $25.0 million milestone payment received from Chiesi in connection with the approval of the E4W dosage in the European Union.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></li></ul><h4>Operating Costs</h4><ul><li>Cost of revenues was $4.127 million for the first quarter of 2026, a decrease of $4.053 million (50%) compared to $8.180 million for the same period in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span> This decrease was mainly attributed to lower sales volumes to Pfizer and Fiocruz, partially offset by increased sales to Chiesi.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></li><li>Research &amp; development (R&amp;D) expenses were $5.426 million for the first quarter of 2026, an increase of $1.951 million (56%) compared to $3.475 million for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span> This rise was primarily driven by preparations for and initiation of the Phase 2 RELEASE clinical trial of PRX-115.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></li><li>Selling, general, and administrative (SG&amp;A) expenses were $3.051 million for the first quarter of 2026, an increase of $0.448 million (17%) compared to $2.603 million for the prior-year period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span> The increase was primarily due to higher salary and related expenses.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></li></ul><h4>Operating Income</h4><p>Operating income for the first quarter of 2026 was $21.146 million, a significant improvement from an operating loss of - $4.145 million for the same period in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></p><h4>Net Income</h4><p>Net income for Protalix 生物治疗 for the three months ended March 31, 2026, was $18.317 million, compared to a net loss of - $3.619 million for the same period in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span> The net income was primarily driven by the milestone revenue recognized from Chiesi.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></p><h4>Other Financial Items</h4><ul><li>Financial income (expenses), net was - $0.005 million for the first quarter of 2026, compared to an income of $0.413 million for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></li><li>Taxes on income were $2.824 million for the first quarter of 2026, compared to a tax benefit of - $0.113 million for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></li><li>Cash, cash equivalents, and short-term bank deposits were $51.1 million as of March 31, 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></li></ul><h4>Outlook / Guidance</h4><p>Protalix BioTherapeutics, Inc. reaffirms its 2026 revenue guidance, expecting total revenue to range from $78.0 million to $83.0 million, which includes a $25.0 million milestone from Chiesi.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span> Full-year 2026 revenues from sales of Elfabrio are projected to be between $33.0 million and $35.0 million, while Elelyso sales are anticipated to range from $20.0 million to $23.0 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span> The company also expects top-line results for the PRX-115 Phase 2 study in the second half of 2027.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1006281/000110465926059749/plx-20260513xex99d1.htm"></span></p>

Protalix Biotherap | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 33.75 M