Navigation Links
Protalix BioTherapeutics Announces Public Offering of Common Stock
Date:10/7/2007

CARMIEL, Israel, Oct. 7 /PRNewswire-FirstCall/ -- Protalix BioTherapeutics, Inc. (Amex: PLX), today announced that it has commenced a proposed underwritten public offering of its common stock pursuant to a preliminary prospectus supplement to its effective shelf registration statement. The company is proposing to sell 3,726,708 shares of its common stock and certain selling securityholders are proposing to sell an aggregate of 1,242,236 shares of common stock. The selling securityholders have also granted a 30-day over-allotment option to the underwriters to purchase a number of shares equal to 15% of the aggregate number of shares sold in the initial offering. As the company is endeavoring to raise gross proceeds of approximately $130 million, it may be required to increase the number of its shares to be sold in the proposed offering if the offering price, as determined through negotiation between the company and its underwriters, is lower than the current trading range of the company's common stock on the American Stock Exchange. Protalix BioTherapeutics will not receive any proceeds from the sale of shares of common stock by the selling securityholders.

UBS Securities LLC is acting as sole book-running manager for this offering. CIBC World Markets Corp. is acting as a co-manager for this offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained from UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171, Toll Free: (888) 827-7275.

About Protalix BioTherapeutics, Inc.

Protalix is a biopharmaceutical company. Its goal is to become a fully integrated biopharmaceutical company focused on the development and commercialization of proprietary recombinant therapeutic proteins to be expressed through its proprietary plant cell based protein expression system, ProCellEx(TM). ProCellEx presents a proprietary method for the expression of recombinant proteins that Protalix believes is safe and scalable and will allow for the cost-effective, industrial-scale production of recombinant therapeutic proteins. Protalix has initiated enrollment and treatment of patients in its pivotal phase III clinical trial of its lead product candidate, prGCD, for enzyme replacement therapy of Gaucher disease, a lysosomal storage disorder in humans. The final design of the pivotal phase III clinical trial is based on an agreement reached by Protalix with the United States Food and Drug Administration, through its Special Protocol Assessment (SPA). Protalix is also advancing additional recombinant biopharmaceutical drug development programs.

Safe Harbor Statement:

To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to attract and retain partners for our technologies and products under development, the identification of lead compounds, the successful preclinical development of our products, the completion of clinical trials, the review process of the FDA, foreign regulatory bodies and other governmental regulation, and other factors described in our filings with the Securities and Exchange Commission. The statements are valid only as of the date hereof and we disclaim any obligation to update this information.

For additional information, contact Protalix BioTherapeutics at: investors@protalix.com


'/>"/>
SOURCE Protalix BioTherapeutics, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Speaker announces business members of IT Task Force
2. Doyle announces technology tax credits for Berbee
3. Doyle announces new energy, global warming policies
4. Doyle announces $80M renewable energy strategy
5. GE announces first installation of Discovery VCT
6. UWM announces winners of RGI awards
7. Third Wave announces two senior management appointments
8. Mirus announces new method for making antibodies
9. Merge announces sofware updates, upcoming acquisition
10. Small Tree announces ethernet solution for Apple Xserv G5
11. TEKLYNX International announces new RFID software
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... PA (PRWEB) , ... February 09, 2016 , ... With ... the 2016 Wharton Health Care Business Conference will bring together over 500 top healthcare ... for an industry in transformation. The conference, organized by MBA students of the University ...
(Date:2/9/2016)... ... February 09, 2016 , ... Tunnell Consulting, Inc. announced that Frédéric Lefebvre has ... focus on acquiring new accounts and work closely with existing Tunnell clients throughout Europe ... to our European clients more than 15 years of experience in the pharmaceutical industry, ...
(Date:2/9/2016)... , Feb. 9, 2016 This market ... the current and future prospects of the market in ... report include companies engaged in the manufacture of microbiology ... executive summary with a market snapshot providing the overall ... of this report. This section also provides the overall ...
(Date:2/8/2016)... , Feb. 8, 2016 /PRNewswire/ - BIOREM Inc. (TSXV: ... the top ten finalists for clean technology companies in the ... the top 10 companies listed on the TSX Venture Exchange, ... & gas, clean technology & life sciences, diversified ... equal weighting given to return on investment, market cap growth, ...
Breaking Biology Technology:
(Date:1/25/2016)... Jan. 25, 2016  Glencoe Software, the world-leading supplier ... publication industries, will provide the data management solution OMERO ... Photo ... Phenotypic analysis measures the characteristics ... allowing comparisons between states such as health and disease, ...
(Date:1/20/2016)... 20, 2016   MedNet Solutions , an innovative ... of clinical research, is pleased to announce the attainment ... are the result of the company,s laser focus on ... , it,s comprehensive, easy-to-use and highly affordable cloud-based ... Key MedNet growth achievements in 2015 include: ...
(Date:1/13/2016)... January 13, 2016 ... addition of the  "India Biometrics Authentication ... Forecast (2015-2020)"  report to their ... has announced the addition of the  ... - Estimation & Forecast (2015-2020)" ...
Breaking Biology News(10 mins):