PROTALIX BIOTHERAPEUTICS, INC. (PLX)

[Phantom Lord]

PLX reverse merged with a shell, Orthodontix, in late 2006/early 2007 and commenced trading on AMEX on 3/12/2007, anything before then is irrelevant. That move from $2 to $42 in 2005 was Orthodontix's doing. Should go without saying they were not a legitimate company. The massive price swings from 2005 have nothing to due with Protalix and the drop in October of 2007 is due to the reverse merger with the shell company. The reason for the huge drop in October of 2007 is that they did an offering valuing the company at 800 mil dropping SP from $35 to about $5. Prior to the offering the market cap was 2.4 billion, obviously this was way wrong. They essentially just set the valuation of the company at $800M, $5/share at the time. Prior to that October 2007 offering everything is irrelevant.

This is the explaination on Protalix's website in the FAQ section: "Protalix BioTherapeutics became a U.S. public company through a reverse merger with Orthodontix Inc. on December 31, 2006. On October 25, 2007, Protalix BioTherapeutics issued and sold 10,000,000 shares of common stock in an underwritten public offering at a price of $5.00 per share."

You can also go to the SEC filings on Protalix's website and find the filings relating to the merger from early 2007 as well.

Some readings are below:


http://www.globes.co.il/en/article-1000253356

https://www.thefreelibrary.com/ORTHODONTIX%2FPROTALIX+SIGN+MERGER+AGREEMENT.-a0151492038

https://www.businesswire.com/news/home/20061220005308/en/Protalixs-Board-Directors-Approves-Closing-Merger-Orthodontix

http://www.evaluategroup.com/Universal/View.aspx?type=Story&id=132015