Notable News to Focus: Protalix BioTherapeutics (NYSE:PLX)
Protalix BioTherapeutics (NYSE:PLX) changed -4.46% to recent value of $2.14. The stock transacted 60438 shares during most recent day however it has an average volume of 158.17K shares. It spotted trading -58.80% off 52-week high price. On the other end, the stock has been noted 25.88% away from the low price over the last 52-weeks.
On March 18, 2020, Protalix BioTherapeutics (NYSE American:PLX) a biopharmaceutical company focused on the development, production and commercialization of recombinant therapeutic proteins produced by its proprietary ProCellEx® plant cell-based protein expression system, reported that it has completed a $43.7 million private placement of common stock and warrants. In connection with the offering, the Company issued 17,604,423 unregistered shares of the Company’s common stock at a purchase price per share of $2.485 and warrants to purchase an additional 17,604,423 shares of common stock at an exercise price of $2.36 per share. Net proceeds to the Company from the private placement are expected to be approximately $41 million, after deducting advisory fees and other estimated offering expenses. Rosario Capital and Houlihan Lokey Capital Inc. served as financial advisors in the private placement.
The Company intends to use the net proceeds from the financing to advance the Company’s clinical programs of PRX-102, the Company’s product candidate under development for the treatment of Fabry disease, as well as to further develop its early stage pipeline of therapeutics, and for general corporate purposes.
PLX has. Its earnings per share (EPS) expected to touch remained 19.40% for this year while earning per share for the next 5-years is expected to reach at 25.00%.
The company has 14.84M of outstanding shares and 14.50M shares were floated in the market. The price moved ahead of -32.06% from the mean of 20 days, -38.77% from mean of 50 days SMA and performed -30.70% from mean of 200 days price. Company’s performance for the week was -9.32%, -40.22% for month and YTD performance remained -34.76%.