Protalix BioTherapeutics Inc. ($PLX) reported update and financial results for 2016. During the year, the company announced positive six and twelve-month interim phase II data in March 2016 and final results of the trial in August 2016 for Pegunigalsidase alfa (PRX-102) for Fabry Disease. In october 2016, it enrolled the first patient in a global phase III clinical trial to support filings in the United States and Europe. The positive interim results for Alidornase alfa (PRX-110) for Cystic Fibrosis from the first 13 patients treated in the phase II clinical trial were announced in January 2017.
On the financial side, the company reported a net loss of $29.4 million, or $0.29 per share, basic and diluted for the year ended December 31, 2016. Its total revenue for the year stood at $9.2 million, up from $4.4 million it had reported for the previous year. The company ended the year with $63.3 million of cash and cash equivalents, compared to $76.4 million at December 31, 2015, which is currently projected to fund operations into 2019.
The company stock has shown impressive growth this year as it gained over 165 percent this year. In the past 12 months, the stock price has skyrocketed by 36 percent.