Protalix Biotherapeutics Inc. (NYSE MKT:PLX; TASE: PLX) today reported good results on its trials of a drug for treatment of Fabry Disease, and the company's share price responded with a 12% leap.
The product demonstrated significant clinical effectiveness already at the low dosage, although the product has not yet been compared with the control group. Three patients have been tested so far in the trial. Information already gathered from 12 patients indicates that the product is safe.
Protalix aims to position its drug as the best in the market, not merely equally effective at a lower price. The current trial found a 78.8% decrease in the effect of pain on the patients' functioning, with stable heart and kidney functioning.
Protalix recently announced that it would henceforth develop only products with a clinical advantage over the existing products in the market, as opposed to similar products with price advantages. "We believe PRX-102 has the potential to be a significantly improved product, compared to the enzyme replacement therapies currently available to the Fabry patient community," said Protalix president and CEO Moshe Manor. The researchers leading the study say that the interim data hint that the product is both more effective and safer than the existing products.
Recruitment of patients is slated for completion by the end of the first quarter of 2015, and the complete results will be published in the fourth quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on January 8, 2015
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