PROTALIX BIOTHERAPEUTICS, INC. (PLX)

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Protalix BioTherapeutics, Inc. (NYSE American: PLX), a biopharmaceutical company focused on the development, production and commercialization of recombinant therapeutic proteins produced by its proprietary ProCellEx® plant cell-based protein expression system, today announced that it has repaid in full all of the outstanding principal and interest payable under its 7.50% Senior Secured Convertible Promissory Notes. The repayment of the convertible notes at maturity was financed entirely with available cash.

"Repayment of our convertible notes is a significant milestone for our company as we are now debt-free and have eliminated the potential equity overhang presented by the notes," said Dror Bashan, Protalix's President and Chief Executive Officer. "Over the last decade, our company has been financed in part through the issuance of convertible notes, the total outstanding principal amount of which reached $78.0 million at its highest. Given this repayment, our financial discipline has resulted in a strong balance sheet that is sufficient to support our planned ongoing operations."

https://www.streetinsider.com/Corporate+News/Protalix+BioTherapeutics+%28PLX%29+Repays+Outstanding+Senior+Secured+Convertible+Promissory+Notes/23677145.html