Protalix BioTherapeutics Inc. (NYSE MKT:PLX) announced that pre-clinical data for AIR DNaseTM (PRX-110) for the treatment of Cystic Fibrosis will be presented at the 38th European Cystic Fibrosis Conference being held June 10-13in Brussels, Belgium. AIR DNase is the Company’s inhaled, chemically-modified, plant cell-expressedrecombinant form of human deoxyribonuclease I, or DNase, that is resistant to actin, a potent inhibitor of DNase that is found in high concentrations in the lungs of CF patients.
“AIR DNase works by cleaving extracellular DNA and thinning the thick mucus that accumulates in CF patients’ lungs. We are very optimistic about the results thus far and are excited to proceed to the clinic. We believe that AIR DNase has the potential to address some of the significant unmet medical needs of the cystic fibrosis community,” commented Dr. Yoseph Shaaltiel, Executive Vice President, Research and Development.
On Friday, June 12, in an oral presentation titled, “AIR DNaseTM: Actin Inhibition Resistant Plant Cell Recombinant Chemically Modified Deoxyribonuclease I (DNase I) for the Treatment of Cystic Fibrosis,” Dr. Shaaltiel will present data from an in vitro assay demonstrating that concentrations of actin and DNase remain high with inhibition by only 15% for AIR DNase, as compared to inhibition by 85-100% for Pulmozyme®, following treatment with each product.
Additionally, a rheology data analysis of human sputum samples shows lower stress reduction from control for AIR DNase compared to Pulmozyme. The mean viscosity reduction as a measure of activity on patients’ sputa by AIR DNase is 70% compared to 30% for Pulmozyme.
The Company is currently evaluating clinical sites for a proof of concept trial for AIR DNase. This study is planned to launch around year-end, with top-line results expected in the first half of 2016. (Original Source)
Shares of Protalix Biotherapeutics closed yesterday at $2.1 . PLX has a 1-year high of $4.14 and a 1-year low of $1.53. The stock’s 50-day moving average is $2.14 and its 200-day moving average is $2.02.
On the ratings front, Jefferies Co. analyst Eun Yang upgraded PLX to Buy, with a price target of $2.60, in a report issued on April 23. The current price target represents a potential upside of 23.8% from where the stock is currently trading.
According to TipRanks.com, Yang has a total average return of 3.4%, a 58.9% success rate, and is ranked #1200 out of 3623 analysts.
Protalix BioTherapeutics Inc is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins based on itsproprietary ProCellEx protein expression system, or ProCellEx.