Tuesday, October 08, 2019 2:42:27 AM
https://ih.advfn.com/stock-market/AMEX/protalix-biotherapeutics-PLX/stock-news/80869472/proxy-statement-notice-of-shareholders-meeting-p
Potential for R/S always brings down the price, and actual R/S will likely bring it down further. So even mentioning as per the PR details it looks like it's likely to happen pre-mid 2020. This capital structure change must be part of the recommendation from that top tier finance company.
I'd expect some Bright Interim efficacy data soon by end 2019 though, and would be nice to add to Full Bright data end Dec 2019 to prop up the price a bit at least prior to the impeding R/S.
Other 2 key things to be gleaned from the presentation is that OPRX-106, they state 'in discussions with potential partners', and that for Alidornase, "Protalix has changed its strategic direction regarding the molecule and will pursue other indications with unmet medical needs". Which seems a shame as the data looks good, but it's true that their focus should be on PRX-102 and OPRX-106.
PRX-102 still expected to file for BLA under Accelerated Approval in early 2020, which would be after Bridge full data in late this December of which those patients will be part of the submission. From Dror's last call it was also mentioned that there was/is a pre-BLA meeting with the FDA in Q42019. Given the high frequency of interaction with the FDA on PRX-102 this year, 1Q and 2Q had 2 Type-C meetings with the FDA, it should be very clear what PLX has to offer and what the FDA is looking for for Accelerated Approval.
So let's see what feedback we get at the November 8th Earnings and see if management can clarify their Capital restructuring plans. I find it interesting that while the R/S is just an accounting trick, I'm curious why they want to reduce the number of shares they can issue? Maybe someone more accounting and capital structure savvy can explain this? Perhaps to do with removing the Listing Deficiency?
Recent PLX News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 11:02:59 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/14/2024 10:56:02 AM
- Form ARS - Annual Report to Security Holders • Edgar (US Regulatory) • 05/17/2024 09:05:17 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/17/2024 09:00:28 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/10/2024 11:20:49 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/10/2024 10:59:36 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/02/2024 11:36:07 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/26/2023 11:56:21 AM
- Levicept Appoints Eliot Forster as CEO • GlobeNewswire Inc. • 11/30/2023 09:00:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/06/2023 12:50:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/06/2023 12:22:32 PM
- Upcoming Earnings Release Paired With Price Target Raise Sends Stock Soaring • AllPennyStocks.com • 10/31/2023 08:40:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/20/2023 10:50:07 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/03/2023 09:00:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/03/2023 09:00:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/03/2023 09:00:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/03/2023 09:00:50 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM