Analysts feeling bullish about FDA approval for Protalix BioTherapeutics |
![]() |
![]() |
By M.E.Garza |
Thursday, 24 February 2011 11:39 |
![]() Within the 10K, investors found the answer to the number one open concern going into this week's pending FDA approval for the PLX/partner Pfizer’s Gaucher's disease enzyme replacement therapy, Uplyso (taliglucerase alfa). The FDA has set a PDUFA date of 25 February 2011 for a decision on the plant-cell expressed therapy candidate. From the 10-k filing: "On February 20, 2011, we received a letter from the FDA notifying us that the FDA had completed its review of the Establishment Inspection Report in connection with the FDA's inspection of our facility in Carmiel, Israel, and that the FDA had classified our facility as acceptable."
In addition, Wells Fargo Market Securities issued this comment along with a $12-$14 "outperform" price target for the company: "We believe regulatory approval of Protalix’s lead drug taliglucerase, an enzyme replacement therapy for Gaucher disease partnered with Pfizer (PFE) is highly likely, potentially catalyzing upside for the shares in H1 2011. We also believe Protalix has a unique profile among small-cap biotechs, which should command a
As you can see from the chart below, the stock has been trading within a rising channel since April. After a breif bear raid this morning, the stock is bouncing back nicely and most of our writing staff is in agreement that an FDA approval could be announced at any moment. As always, we urge you to do your own due dilligence and to set your stop-losses carefully before any trade. Disclosure: Long PLX "Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'. Add this page to your favorite Social Bookmarking websites ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |