Protalix has partnered with Chiesi Farmaceutici S.p.A. for the global development and commercialization of Elfabrio, which was approved by both the FDA and the European Medicines Agency in May 2023. The company received a $25.0 million milestone from Chiesi in (March 2026) following European Commission approval of a 2mg/kg every-4-weeks Elfabrio dosing regimen for adults with Fabry disease. The development pipeline includes PRX-115, a plant cell-expressed recombinant PEGylated uricase for uncontrolled gout treatment, and PRX-119, a plant cell-expressed long-acting DNase I for NETs-related diseases.
Cyborg Score Rationale
Protalix reaffirmed 2026 revenue guidance of $78–$83 million, including a $25 million Elfabrio milestone from Chiesi. The company maintains a strong balance sheet with $51.1 million in cash and deposits and no debt. However, the stock trades at a relatively modest valuation (~$185M market cap as of June 2026) with limited near-term revenue diversification beyond Elfabrio partnership income.
Top Insights
Elfabrio's EU E4W (every-4-weeks) dosing is now approved, with the PRX-115 Phase 2 RELEASE trial continuing and top-line data expected in H2 2027.
ProCellEx, Protalix's proprietary plant cell-based protein expression system, represents a differentiated manufacturing approach for developing recombinant proteins at industrial scale.
Elelyso (partnered with Pfizer) is expected to provide steady and durable contributions to revenue.
The company achieved profitability in Q1 2026 with strong milestone income driving near-term financial momentum.
Named Competitors
Fabrazyme — Competing enzyme replacement therapy for Fabry disease
Elelyso — Glucosidase replacement partner and established pharma collaborator