JERUSALEM (dpa-AFX) - Protalix BioTherapeutics, Inc. (PLX) Thursday reported net income of $3.24 million or $0.03 per share for the third quarter compared with net loss of $1.85 million or $0.04 per share in the same quarter a year ago.
Revenue for the quarter increased to $17.96 million from $10.35 million in the previous year.
Additionally, the company reported encouraging results from the Phase 1 study evaluating PRX-115 for the treatment of uncontrolled gout.
'Preliminary results from this study, being presented today and this week in a late-breaking poster at ACR Convergence 2024, are encouraging and demonstrate the potential of PRX-115 to be a promising uric-acid lowering treatment option for individuals with gout. We are actively planning a phase II clinical trial of PRX-115 in gout patients and expect to initiate the study in the second half of 2025' said Dror Bashan, Protalix's President and Chief Executive Officer.
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