Upcoming AWS Coverage on Forward Pharma Post-Earnings Results
LONDON, UK / ACCESSWIRE / December 15, 2016 / Active Wall St. blog coverage looks at the headline from Protalix BioTherapeutics, Inc. (NYSE: PLX) as the Company announced on December 14, 2016, that it has received a letter from Fundação Oswaldo Cruz (Fiocruz), a segment of the Brazilian Ministry of Health, which expressed the intended purchase of Alfataliglicerase to treat Gaucher patients in Brazil. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.
One of Protalix BioTherapeutics' competitors within the Biotechnology space, Forward Pharma A/S (NASDAQ: FWP), reported on November 29, 2016, its financial results for the third quarter ended September 30, 2016. AWS will be initiating a research report on Forward Pharma in the coming days.
Today, AWS is promoting its blog coverage on PLX; touching on FWP. Get all of our free blog coverage and more by clicking on the links below:
About the Disease
Gaucher disease is also known as glucocerebrosidase deficiency and is a type of autosomal disorder while being the most dominating Lysosomal Storage Disorder (LSD) across the world. Typically, the symptoms include a group of disorders which affect special enzymes that break down waste materials to reuse them in a cell. However, at times, when the enzymes are absent or malfunctioning, they may accumulate and turn toxic over a period.
This disease occurs when a lipid named glucosylceramide accumulates in the bone marrow, spleen, lungs, liver, and at times, the brain takes a hit. With a presence rate of 1 in about 20,000 childbirths, the symptoms of the disease include fatigue, anemia, bleeding, and easy bruising. The primary solution offered is enzyme replacement therapy (ERT), where recombinant enzymes are injected into the bloodstream of the patient.
The approved treatment
On November 22, 2016, Protalix announced that the Brazilian National Health Surveillance Agency had granted regulatory approvals for the use of Alfataliglicerase as a long-term ERT to treat children aged four years and above with a confirmed diagnosis stating they are under Type 1 Gaucher disease. In March 2013, ANVISA (Agencia Nacional de Vigilancia Sanitaria) (or, Brazilian National Health Surveillance Agency) approved Alfataliglicerase for long-term ERT treatment of adults with a confirmed Type 1 Gaucher disease diagnosis.
The Bulk Demand
Prior to the approval by the Brazilian Ministry of Health, and the placement of this order, Protalix sold relatively small quantities of Alfataliglicerase to the ANVISA. Obviously, it was an attempt to allow the physicians and patients to experience the safety and efficacy, the drug offers. Brazil is reportedly the third in the world in terms of a number of Gaucher patients, after the USA and Israel. With approximately 700 Gaucher patients being treated in Brazil, the firm negotiated the prospects of establishing Alfataliglicerase as the primary ERT. Protalix holds exclusive rights to Alfataliglicerase in Brazil.
The letter forwarded from ANVISA requests three shipments of Alfataliglicerase, where the shipments would be made from the middle of 2017 to the end of 2017. With these shipments being executed, Protalix speculated revenue generation of $24 million approximately. The revenues would help reduce the cash consumption rate of the firm by a third in 2017. With an elevation in the demand from ANVISA, the Company's revenues are set to rally and bring in additional benefits for the firm to reap.
At the close of trading session on December 14, 2016, Protalix's stock price surged 11.67% to end the day at $0.34. A total volume of 11.68 million shares were exchanged during the session, which was above the 3-month average volume of 868.15 thousand shares. The stock currently has a market cap of $33.39 million. Shares of the company have a PE ratio of 0.72.
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