Protalix BioTherapeutics Files Q3 2024 10-Q

TL;DR

Protalix BioTherapeutics filed its Q3 2024 10-Q. Financials updated.

AI Summary

Protalix BioTherapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial position, including changes in retained earnings and additional paid-in capital. Specific financial figures and operational updates are expected within the full report.

Why It Matters

This filing provides investors with an update on Protalix BioTherapeutics' financial health and operational performance for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a biopharmaceutical company, Protalix BioTherapeutics faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the financial reporting period covered by the 10-Q.)
• 2024-11-14 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Protalix BioTherapeutics, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-14 (date) — Filing date
• 2023-12-31 (date) — Previous fiscal year end
• 2024-06-30 (date) — End of the second quarter

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common stock, $0.001 par value PLX NYSE American Indic
• $1 — Represents an amount equal to less than $1. (1) Common stock, $ 0.001 par value;

Filing Documents

• plx-20240930x10q.htm (10-Q) — 1077KB
• plx-20240930xex31d1.htm (EX-31.1) — 12KB
• plx-20240930xex31d2.htm (EX-31.2) — 12KB
• plx-20240930xex32d1.htm (EX-32.1) — 7KB
• plx-20240930xex32d2.htm (EX-32.2) — 7KB
• plx-20240930x10q005.jpg (GRAPHIC) — 57KB
• plx-20240930x10q007.jpg (GRAPHIC) — 51KB
• plx-20240930x10q008.jpg (GRAPHIC) — 32KB
• 0001558370-24-015612.txt ( ) — 4750KB
• plx-20240930.xsd (EX-101.SCH) — 31KB
• plx-20240930_cal.xml (EX-101.CAL) — 43KB
• plx-20240930_def.xml (EX-101.DEF) — 110KB
• plx-20240930_lab.xml (EX-101.LAB) — 231KB
• plx-20240930_pre.xml (EX-101.PRE) — 187KB
• plx-20240930x10q_htm.xml (XML) — 632KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets (Unaudited) – As of September 30, 2024 and December 31, 2023 2 Condensed Consolidated Statements of Operations (Unaudited) – For the Nine and Three Months Ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Changes in Stockholders' Equity ( Capital Deficiency) (Unaudited) – For the Nine and Three Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows (Unaudited) – For the Nine Months Ended September 30, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 33

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 34

Signatures

Signatures 36 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements PROTALIX BIOTHERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (U.S. dollars in thousands) (Unaudited) September 30, 2024 December 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 27,409 $ 23,634 Short-term bank deposits - 20,926 Accounts receivable – Trade 2,195 5,272 Other assets 1,050 1,055 Inventories 17,199 19,045 Total current assets $ 47,853 $ 69,932 NON-CURRENT ASSETS: Funds in respect of employee rights upon retirement $ 561 $ 528 Property and equipment, net 4,648 4,973 Deferred income tax asset 2,856 3,092 Operating lease right of use assets 5,645 5,909 Total assets $ 61,563 $ 84,434 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accruals: Trade $ 3,135 $ 4,320 Other 19,577 19,550 Operating lease liabilities 1,508 1,409 Convertible notes - 20,251 Total current liabilities $ 24,220 $ 45,530 LONG TERM LIABILITIES: Liability for employee rights upon retirement $ 730 $ 714 Operating lease liabilities 4,176 4,621 Total long term liabilities $ 4,906 $ 5,335 Total liabilities $ 29,126 $ 50,865 COMMITMENTS STOCKHOLDERS' EQUITY 32,437 33,569 Total liabilities and stockholders' equity $ 61,563 $ 84,434 The accompanying notes are an integral part of the condensed consolidated financial statements. 2 Table of Contents PROTALIX BIOTHERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands, except share and per share data) (Unaudited) Nine Months Ended Three Months Ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 REVENUES FROM SELLING GOODS $ 34,820 $ 30,309 $ 17,839 $ 10,168 REVENUES FROM LICENSE AND R&D SERVICES 361 24,699 120 177 TOTAL REVENUE 35,181 55,008 17,959 10,345 COST OF GOODS SOLD ( 20,433 ) ( 14,126 ) ( 8,

View Full Filing

View this 10-Q filing on SEC EDGAR