PLXProtalix BioTherapeutics, Inc.
The Read
Protalix’s stock fell about 22% after Q4 2025 earnings met EPS expectations but lacked confidence-inspiring updates, declined another 3% following EMA’s rejection of Elfabrio’s dosing change, but then rallied about 8% on strong Q1 2026 business progress including Elfabrio’s new dosing approval and a $25M milestone payment.
The schedule
- Wed30Sep
As Protalix funds commercialization and pipeline work, investors should watch for a potential equity or structured financing around late 2026. A well-structured deal or non-dilutive partner funding could keep shares near $2.20, while a discounted secondary or convertible with weak terms could pressure the stock toward $2.20.
- Tue20Oct
Protalix is expected to provide a late-2026 update on at least one next-generation enzyme replacement or biologic candidate from its plant-cell expression platform at a medical conference or R&D event. Positive safety and early efficacy data could highlight long-term optionality and lift the stock toward $3.40, while underwhelming results or delays could leave the shares closer to $1.80.
- Mon1Feb
Through early 2027, changes in US and ex-US reimbursement frameworks, health technology assessments, or guideline updates for rare disease therapies could materially impact Elfabrio’s pricing power and access. Stable or favorable policy outcomes could keep PLX closer to $2.50, while more restrictive reimbursement or competitive listing decisions could push the stock toward $2.50.
- Sun14Feb
Year-end 2026 results and initial 2027 guidance will be a major inflection point for Protalix, revealing whether the company can deliver consistent growth and manage expenses as its products mature. A credible 2027 growth outlook and evidence of earnings leverage could lift PLX toward $3.30, while cautious guidance or renewed operating losses could leave the stock closer to $1.80.
- Sat15May
Q3 2026 results will test whether any mid-year momentum in Elfabrio and partnership revenues is sustainable and whether margins can hold up as commercialization scales. Confirmation of steady growth and cost control could support a move toward $3.00, whereas decelerating sales or renewed losses could drag shares toward $3.00.
Past
- Thu13Aug
Actual outcome: Bear
Protalix met Q2 EPS estimates of -$0.069 and reported strong top-line growth, with goods revenue increasing to $19.8 million driven by the Elfabrio commercial ramp. Despite the solid revenue figures and year-over-year growth, the stock saw a muted reaction, drifting 3% lower, as the in-line earnings and expected sales progress failed to provide a new catalyst to drive shares toward the bull target.
Q2 2026 earnings will provide a clearer view of Elfabrio’s commercial ramp in the US and ex-US markets and the sustainability of partnership revenue. Strong volume growth and visibility on additional milestones could re-rate the stock toward $3.10, while signs of plateauing demand or weaker-than-expected pricing could leave shares closer to $1.90.
- Wed13May
Actual outcome: Bull · $2.09 at outcome
Protalix reported in-line Q1 2026 EPS of -$0.069, but the stock rallied 8.3% on strong business updates. Investors reacted positively to continued Elfabrio commercial execution following the European Commission's approval of a new dosing regimen and the receipt of a $25 million milestone payment from Chiesi. Furthermore, the on-track advancement of the PRX-115 Phase 2 study provided clear visibility into upcoming catalysts, driving the bullish price action.
Q1 2026 results will set the tone for Protalix’s 2026 revenue path after a volatile 2025, with investors focused on whether Elfabrio sales can offset recent year-on-year revenue declines. A solid print and visibility on milestones could justify a move toward $2.75, while another weak quarter or soft guidance could push the stock toward $2.75.
- Fri10Apr
Actual outcome: Bear · $2.18 at outcome
The EMA's CHMP confirmed its negative opinion regarding the Type II variation application to add a more convenient every-four-weeks dosing regimen for Elfabrio. This regulatory rejection limited the drug's competitive advantage in the Fabry disease market, disappointing investors and driving the stock's decline.
- Wed18Mar
Actual outcome: Bear · $2.23 at outcome
Protalix reported a revenue miss for fiscal year 2025, which overshadowed a $25 million milestone payment triggered by the European Commission's approval of a new Elfabrio dosing regimen. Despite issuing robust FY2026 revenue guidance of $78–83 million, the stock fell over 22% as the market focused on the immediate top-line weakness, leaving the price significantly below the $2.45 bear floor.