Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Revenue growth was primarily driven by increased Elfabrio sales to Chiesi, reflecting deeper global market penetration and inventory management strategies.
Management attributes the strong first-half performance to the combination of commercial scaling and a $25 million milestone payment recognized in Q1 2026. The company is strategically focused on the rare renal disease market, leveraging its proprietary platform to maintain a competitive advantage in specialized therapeutic areas. Profitability is being sustained through a business model designed to limit downside risks while preserving upside through clinical program advancements.
Operational efficiency was bolstered by a $2.1 million reduction in R&D expenses resulting from a new ongoing grant available under the R&D law. Management views the recent European approval of Elfabrio's once-every-4-weeks dosing regimen as a key strengthener of their partnership with Chiesi. Protalix projects the global Fabry market will reach approximately $3.2 billion by 2031, with a target to capture 15% to 20% of this market share.
Top-line results for the RELEASE study evaluating PRX-115 in uncontrolled gout are expected in the second half of 2027. Management expects to finalize enrollment for the PRX-115 Phase 2 study by the end of 2026, with nearly all clinical sites currently active. Future revenue is expected to remain 'lumpy' on a quarter-to-quarter basis due to the timing of partner shipments and inventory cycles, necessitating a full-year evaluation approach.
The company maintains a strong cash position of $40.7 million with no outstanding debt, providing the financial flexibility required to fund ongoing clinical and preclinical programs. Taxes on income increased to $1.1 million due to GILTI tax limitations under IRC Section 174. The company secured a patent term extension for Elfabrio and received new regulatory approval in South Korea, expanding its commercial footprint.
R&D expenses are expected to rise in future periods as the RELEASE study progresses and additional pipeline programs advance. Nvidia-level potential. 30M+ investors trust Moby to find it first. Management is evaluating four arms in the Phase 2 RELEASE study, including every-4-weeks without methotrexate and every-8-weeks with methotrexate.
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