Why Protalix BioTherapeutics Stock Is Soaring

Protalix BioTherapeutics Inc PLX shares are surging Monday after the company said its Phase 3 trial for the treatment of Fabry disease met its primary endpoint.

Fabry disease is an inherited disease resulting in progressive accumulation of abnormal deposits of a fatty substance in blood vessel walls throughout a person's body.

"Based on results from our clinical program, we believe that PRX–102, as a PEGylated enzyme replacement therapy with potentially two different dosing regimens, may be a valuable new treatment option for individuals suffering from Fabry disease," said Dror Bashan, president and CEO of Protalix BioTherapeutics. 

Protalix BioTherapeutics is a biopharmaceutical company focused on the development, production and commercialization of recombinant therapeutic proteins produced by its ProCellEx plant cell–based protein expression system.

See Also: Why Gores Guggenheim Shares Are Rising Today

PLX 52-Week Range: $0.70 - $6.64

The stock was up 64.3% at $1.72 at time of publication, according to data from Benzinga Pro.

Photo: Belova59 from Pixabay.