Protalix BioTherapeutics, Inc. (NYSE MKT:PLX) Q1 2019 Earnings Conference Call Transcript

May 06, 2019 • 08:30 am ET


Protalix BioTherapeutics, Inc. (NYSE MKT:PLX) Q1 2019 Earnings Conference Call Transcript


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Good day, ladies and gentlemen, and welcome to the Protalix First Quarter 2019 Financial Results and Corporate Conference Call. At this time, all participants are in a listen-only mode. We will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) As a reminder, this call will be recorded.

I would now like to introduce your host for today's conference, Yossi Maimon. Please go ahead.

Yossi Maimon

Thank you. Hello, everybody. Good morning. Welcome to Protalix BioTherapeutics 2019 first quarter earnings result and corporate update conference call. With me today is Moshe Manor, our President and CEO. A press release announcing the result is available on our website. I'd just like to take a moment -- ask you to take a moment and read the disclaimer about the forward-looking statements in the press release.

The earning release and this teleconference includes some forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. Factors that could cause actual results to differ are described in the disclaimer and in our filing with our U.S. Securities and Exchange Commission.

I will now turn the call over to Mr. Moshe Manor.

Moshe Manor

Thank you. Yossi. Good morning and thank you for joining us today to review the company's first quarter and recent highlights. During the call this morning, I will provide a corporate update, and then Yossi will review the company's financials before opening up the line for questions. This will be a much briefer call than usual as we have been working hard to get pegunigalsidase alfa, or PRX-102, across the finish line, but there is no that much news to discuss.

We are happy to report that the BRIGHT study is currently one patient away from our enrollment target. From this study, we presented data on the 15th Annual World Symposium showing the infusion of PRX-102 every four weeks results in the presence of continuous active enzyme throughout the entire infusion interval. We are excited about this data as we believe that this potential -- potentially means that PRX-102 could be dosed monthly instead of biweekly like the current standard of care.

Through our BALANCE study, we are making progress in recruiting the final patient as well. We are currently in the process of screening and enrolling the final 11 patients to reach out our enrollment target.

After patients complete the initial portion of the study, they may continue in our various extensive studies, staying on PRX-102 treatment while still being monitored. We currently have more than 40 patients who have wanted to continue on PRX-102 instead of going back to or starting an approved product. We consider this policy as this means that both patients and their physicians want to continue with the drug candidate after trying it in the clinic. It also enables us to generate long-term data on the product prior to launch. We are happy -- also happy to report