Why is Protalix (PLX) Stock Rocketing Today?

Premarket hours are heating up the stock market before it opens after April’s first weekend. Right now the hottest one is Protalix (NYSE: PLX), a biotech company developing mostly therapeutic proteins. PLX is soaring 42% on more than 3 million shares.

PLX stock thanks to successful clinical trials of PRX-102

Clinical trials of PRX-102 have been going on for 24 months and phase 3 shows positive results in treating Fabry disease.  Protalix’s Chief Development Officer Einat Brill Almon commented: “Given these results, we plan, together with Chiesi, our commercialization partner, to work with regulatory agencies on the applicable submissions, hopefully bringing PRX–102 to approval as a new PEGylated enzyme replacement therapy for all adult Fabry patients”

If the PRX-102 gets commercialized Protalix will surely enjoy record-high revenue. Thus, investing in PLX stock is becoming feasible.