Sharp Decline in Protalix BioTherapeutics (PLX) Stock Continues: What To Expect?

According to the latest news of the stock exchange, Protalix BioTherapeutics (PLX) suffer a decline of -0.41 (-13.7584%) USD, which may give rise to doubts about the company’s stocks for the investor, but are doubts justified? Let’s get this straight…

Sharp Decline in Protalix BioTherapeutics (PLX) Stock Continues: What To Expect?

The shares of a PLX company accused of securities fraud have fallen sharply, will it be able to prove its innocence and keep the shares afloat? On June 2, 2021, pre-market, Protalix provided an update regarding the Company’s clinical development of pegunigalsidase alfa (PRX–102) for the proposed treatment of Fabry disease on which they made analysis last few weeks, however, one of them discontinued participation due to a related adverse event.

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On this news, Protalix’s stock price fell $0.51 per share, or 17.44%, to close at $2.46 per share on June 2, 2021. The firm accused of fraud does not guarantee its shareholders an increase in the share price, which has greatly affected the chart over the past week. Expecting the verdict and if the company refutes the rumors then investors should pay attention to such stock, for now, the situation is precarious.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.