PROTALIX BIOTHERAPEUTICS, INC. (PLX)

[wgg2]

Protalix's third quarter report was less robust than many (especially traders) expected. Strictly a matter of timing as Cheisi builds inventory to meet patient need. A review of the 10Q shows raw material inventory increasing 20% to $4.2 million at 9/30/2023 and work-in-progress inventory increasing 240% to $9.1 million at 9/30. Finished goods inventory ended the quarter at $8.3 million. This sets up for a pretty robust 4th quarter revenue outlook. Regulatory milestone payments should be in order for recent approvals in the UK and Switzerland. Management stated no more financing needed. Keep the faith, looking quite positive for the coming quarters..