Thursday, January 13, 2011

Protalix BioTherapeutics (NYSE:PLX) Up as They Wait Till After FDA Approval to Raise Capital

Shareholders and investors were relieved that Protalix BioTherapeutics (NYSE:PLX) will wait until after the FDA approves of taliglucerase, which a large number believe will happen.

Protalix has recently filed a $150 million shelf offering which they have now abandoned.

The PDUFA date for taliglucerase is February 25.

Wells Fargo (NYSE:WFC) also recently noted that revenues for Genzyme (Nasdaq:GENZ) from Cerezyme were lower than expected for the fourth quarter, citing supply issues. They consider that a positive for Protalix.

Protalix closed Wednesday at $10.19, up $0.07, or 0.69 percent.

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