PLX - Earnings call transcript Q1 2018 | Protalix BioTherapeutics, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to the Protalix BioTherapeutics First Quarter 2018 Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a Q&A session and instructions will follow at that time. [Operator Instructions].

As a reminder, this conference is being recorded. to host like Mr. today's now would introduce for your conference I Maimon, may you Financial Yossi Officer, begin. Chief

Yossi Maimon

to the take and today earnings you. statements read Thank to the Hello and With this are materially will President the and quarter differ about described results the A teleconferencing and experience forward-looking group result uncertainties is press could over differ forward-looking and the are website in filing I XX-Q everybody. be Manor, SEC. release moment me to and risks call. announcing to be CEO. morning, statements. Welcome results actually Mr. a disclaimer available to from on BioTherapeutics -- turn Protalix the These is now and the filed a future our Moshe will forward-looking unknown the good to the actual earnings press with release, call and in subject statements Form statements our in cause later that Manor. made. release, cause tonight. Please disclaimer our may known could first Moshe Factors actual

Moshe Manor

Good Yossi. us morning. here thank am you morning all this has be the for today the happy joining to progress discuss quarter. past and I to Protalix you over Thank made

lease Yossi call Fabry alfa will Pegunigalsidase of to company's turn review to provide the with program, over I for the call the our During Starting a then corporate and or the update disease. treatment financials. PRX-XXX first

sites. to respect by currently and the ongoing With additional Enrolment sites XX BRIDGE, the enrolment trial for to is clinical studies. We to nearly track year-end. BRIGHT be on remains open antibodies have antibodies have certain continued process inhibition completed neutralizing BALANCE, part in such been and of and samples the antidrug, activities to for tested patients blood PRX-XXX. screening as presence the and activity for of study course BALANCE and then of Patient collected

European are on be happy tests to initial accepted the for would Renal reported for at XXth Association results colitis. positive of XXth in has Congress treatment data report Association IIa OPRX-XXX of of encouraged very Also the quarter line held are we European first from ulcerative May read that the Transplant during our trial We Dialysis that the and such the by presentation Phase and top poster Denmark.

them plant of As you is administered administration. may mammalian a When clinical to having for top through anti-tumor endpoints plant cell to the factor as function makes compared efficacy of of patients of response; produced and demonstrated vehicle, remission. experiencing resistant passing XX% and experiencing recall, the study a development which a a proteins while clinical XX% OPRX-XXX alpha cellulose recombinant patients via the in natural necrosis met cell-expressed degradation wall The digestive were line delivery unique cell the with key expression. attribute orally tract, cells the the results oral

score response. top which formation other fecal key antibody efficacy ulcerative result an scoring patients showing XX% improved achieved no with This a can and assessment no long-term disease the absorption. in of colitis. potentially in therapy activity active sounds gut On Phase the biological be antidrug, a OPRX and of systemic to that showing in is calprotectin; improvement including addition demonstrating histopathological rectal and of XX% Geboes In in scores; improvement patients also bleeding an XX% of in endpoints patients were for of

Washington back result end accepted has point. include the presenting the of consistent with call held and mild further which over only data been significant the events, Yossi now patients moderate supports Xth. Meeting presentation The found, benefit by being through clinical novel is the would turn the XXXX Digestive provide which believe overview. a patient the new presentation was adverse financial DC nature. to various which transient in will OPRX-XXX well Disease On June Xnd for detailing patient tolerated to safety Annual at safe Week I who were A we at will in

Yossi Maimon

Thanks Moshe.

So XXXX. in net of million diluted to the for million revenues $X.XX in for increase $X.X in XXXX basic reported first loss to a were SG&A expenses or Research or ending $X primarily $X.X compared of XXXX million the basic to $X.X XXXX. same period remeasurement cash and Brazil. XXXX. first is of diluted Protalix period a of the of The Protalix back attributed to same for a loss first XX, of alpha the per also included and which $XX.X $X.XX XXXX. sales of of share a same onetime increases share of for charge for XXXX actually compared quarter reported derivative $X.X quarter period -- $X.X which XXXX quarter in the of net million and per $X.X million development of excluded for million with were quarter million of XXXX compared total million the taliglucerase and connection first for the March

cash. $XX.X XX, of million we As XXXX March in had

in We the [indiscernible] will come support of forward cash the R&D play. into reduction going effect expect operating consumption full to realize as and mainly

especially I come not call be for course Lastly that I of who to questions do the which still I operator for currently now manner funds the up call going will wanted With happening company we request, plans clear guarantee dilution any into back authorized to while the touch in in and future Operator. we've next from turn would have to to that I want we open the audience. is inflow concern on we target hearing guess been for that's the near the around to a upcoming cannot the believe in the increasing non-dilutive that that of will just upon XXXX. and potential due

Operator

[Operator from our Selvaraju of Instructions]. question comes H.C. Wainwright. And line Raghuram from the first

is line open. Your now

Raghuram Selvaraju

thanks questions. taking my Hi, very for much

So I questions had here. two types of

assets can proceeds to involved originally these in studies and you up BALANCE, are and of come you perhaps with of likely awaiting you a still enrollment secondly online difference or clinical that you clinical to the us much additional that to sites a BRIGHT do for these programs to Thank and are example BRIDGE, enrollment originally for in open insights manner enrollment in and bring confirm you be all the particularly might and you. give sites you what out-licensing kinds strategic of were a event perhaps And discussions little you the be additional assets into a stats XXX clinical do additional is expected? expect Firstly, the being with how DNase, than the that than those may have of respect planned and if discussions? running having timeline anticipate to can for projected if then of to have ability slower around you that slower the online, to conclusion be some respect pipeline that reasonable make

Yossi Maimon

Thanks to Raghuram, will I this is tackle Yossi, at one those try a time.

outside will U.S. is have, theoretically So that patients. of the and sites I we envisioned that are we well and the think global. number I are where in will we Obviously yes, today terms think maybe them up sites I all and that of I running, relatively but it spread think more the the with come more the so actually are enrollments recruiting along it's think satisfied and sites of have all

strong as on with are that this So we stuff envision I more even think that I that set we initially. think

in detail the mentioned interesting of XXX more think which the mentioned terms in opportunity just a as going think discuss about significant pipeline Conference I Moshe and month DDW and is now. data we're that that to we from a very the In I specifically have now new clinical with to around

to that that that in including believe going the we detail have consistency be will a almost will And throughout amount of further we support across as well. that also efficacy ones we I seen points all decent relevant I new as think different patients that share clinical there's we going information the share. per that patients to be have is patient of the will looked results end new

about saying lot for interest to I time promise, think long over we to I I when, careful over to say think want executing refrain a and been want would exactly All I too of this about execute. this. talking and but want not to it be say too to from I there's it's we've early

details I'll more leave go So at it to than that, there's into that. I don’t interest. want

Raghuram Selvaraju

you very thank Okay, much.

Yossi Maimon

Sure.

Operator

And question Jefferies. Welford comes from Peter our next from

Your line is now open.

Peter Welford

is available anything Hi, I if all topic update are XXX unlikely you this terms want got this Brazil you any or easy yes just we can those clinical give to XXX, and thanks provide and have XXX call proceed need about like to you think a then the shipments quarter to then deal? are a or do perhaps after questions. any from pivotal on close you wonder in difficult the partnerships, and I data but finalize is a you you couple; mid for have I be to of any understand my additional And in likely there either house new the how sort that on discussions orders it to data I of set -- from more first you on taking the at any you the post PRX-XXX would predict seeing be Thank know just are now can expression XXXX before year, us still data? details just it think should to of firstly or programs it's or to preclinical compare see data get are before can to use and that during trials Brazil? Going the -- the potentially just are you you. don't we doubts to totally you stage any but to and

Yossi Maimon

And I to more be drug what indication say into Brazil just say But at don't in patients low that we have on is Okay the it Brazil, we visibility I can that's know anything a is that I way. increasing way more we drug, all want as that. good on period that I fact stop. be translated to shipments tough it can the then excited an All translated significant a another. think will and manner, that number one that say full be do that to with say. going exact When a can of a start to I I we and about That's want would our I about see in it's -- still I our very very significant into it's that's Peter think more How see see we that the and patients be least but say from we quarter from experience. I will and it. we will that's numbers do dollars. very beyond works guess have we so saying this is the don't increase will remains careful but

of XXXX a think any have for XXXX. data expect to I don't readout terms In XXX in -- we in

will enrollment I but think be XXXX often these we of in start each for trials in and that data XXXX. reporting will

Moshe for -- how the the screened in interesting neutralizing as these basically press on patients have and that reacted and patients BALANCE for when XXX. study, The of data will antibodies from to indicated introduced then antibodies been level how long-term Although have now presence Fabrazyme. release of these have also we about will

than excited I question a in were we I of less data are month. think share that people think more to been a has wondering lot that and a

is it think weeks three away. I

have. completed we to partnerships, of we think terms -- that have basically all In all I want that trials

this to least. again we opening data. the be kind assets DDW will will that data to in with be shot deeper discussions full in-depth kind look the June, think around into everybody in of then is of for I a XXX And have I it disclosed think data, that at when I more have think the these

So we're I short answer done. is yes, think

Moshe Manor

saying notion was have is just On the is existing we what what to course [ph] two can a XXX. continuing I is and that's said factor. this including and in And weeks preclinical product that data data of will lab this further point that. concept of think those on But time to I support the false market and data the we to at And complete, just an just other ERT. overall important superior additional the XXX over in this Peter, released data the we bringing the of we analyze on data we say the has data are XXX definitely Moshe, the as activity, that released

in really expecting we that's are well. So a what direction as good clinically

Peter Welford

you. Thank great, That's

Operator

to for at this call over would am remarks. time further showing questions. And I no I to turn like closing the any Yossi back Maimon

Moshe Manor

Moshe. is this Hi,

look and we OPRX-XXX with joining this morning for the all weeks the you us and clinical thank presentation call share on in PRX-XXX data just will Congress that forward announced to the Association both at and European Conference. European be and conference. Week it short Digestive So on Transplant Dialysis few presented you at Disease publicly being be data presented - Renal time around the is will the The Association same

presentations post your great to the website for you you. And I for will a day. also would Thank continued the and with on We have and poster to that all thank you support like review. our

Operator

Ladies for have you conference. a and and conclude may all disconnect. thank in gentlemen, the This participation today's program great Everyone does day. you

Protalix BioTherapeutics (PLX) 9 May 182018 Q1 Earnings call transcript