In depth look at Protalix on seekingalpha:

http://seekingalpha.com/article/1789672-protalix-undervalued-growth-plus-a-possible-biotech-breakthrough

Has Protalix developed a method for oral delivery of biologics? This press release suggests it has:

http://phx.corporate-ir.net/phoenix.zhtml?c=101161&p=irol-newsArticle&ID=1864000&highlight=

And the 2nd half of this corporate presentation shows animal data for the same oral Gaucher treatment, plus oral administration of their Enbrel copy.

http://media.corporate-ir.net/media_files/IROL/10/101161/Protalix%20Analyst%20Day%20Presentation%20%28June%2020%202013%29%20v2.pdf

That would seem to be an incredibly valuable breakthrough, if real. It also seems sort of too good to be true.

What do people think? Does it seem plausible that freeze-dried carrot cells get the enzyme through the stomach, then release it in the intestines, where it's absorbed?

That leaves generic copaxone very vulnerable though. Copaxone is what MNTA is counting on when their cash runs out in a few years. They will have the 50% profit share regardless of exclusivity, so they should still be okay for cash. But if there's no breakthrough on IP protection post-commercialization, and they're sharing the generic copaxone market with Amphastar or someone else, that cash flow becomes seriously restricted. They'll be profitable, but only modestly so, I would think.

Under those circumstances, I still like MNTA as an investment, but I might be inclined to close my current position and wait for a better entry point. Follow-on biologics are a long way off if copaxone doesn't have protection.

I find the current situation seriously unjust, given the huge value that MNTA's technology has created. But unless someone here can convince me that MNTA's copaxone is likely to be protected, I'm not comfortable being long. I'll close out and get back in later.

And of course, it's no one's responsibility here or anywhere to make me comfortable in my investments, but I do value the opinions of Dew and others on this board. Thanks in advance for your thoughts.

MNTA question- what if all their patents get the same legal treatment as the Enox patents?

I still believe the courts are seriously mistaken in allowing Amphastar to use MNTA's IP under safe harbor. But I'm not very confident that the decision will get reversed. MNTA's attitude seems to be: we're fine even if we lose this one, and it's just a bonus if we end up winning. But if they lose this one completely, doesn't it put their whole business at risk? Or at least the Copaxone generic? What's to stop Watson from releasing their own generic Copaxone using MNTA's technology.

And if MNTA files patents on their bio-generic work from the Baxter collaboration, won't that get ripped off immediately as well? Presumably for biogenerics, they can start protecting themselves with trade secrets instead of patents. Still, it's hardly an ideal situation.

Is this not a serious problem for MNTA going forward, or am I thinking about it wrong somehow?

I'd also love to hear peoples' latest opinions on MNTA's chance of victory in court. And do they have any serious options for addressing this situation aside from the courts?

Thanks in advance.