Protalix prices underwritten public offering of 4,000,000 shares of common stock

Mar 18 2011

Protalix BioTherapeutics, Inc. (NYSE-AMEX: PLX, TASE: PLX), announced today the pricing of its previously announced underwritten public offering of 4,000,000 shares of its common stock at a price to the public of $5.50 per share.  The offering is expected to settle and close on March 23, 2011, subject to customary closing conditions.  Citi and Barclays Capital Inc. are acting as the joint book-running managers for the offering.  The Company expects to use the net proceeds from the sale of the shares for one or more of the following: to fund clinical trials for the Company's product candidates; to fund the Company's research and development activities; to enhance the Company's manufacturing capacity; and for working capital and general corporate purposes.

The offering is being made pursuant to an effective shelf registration statement.  Before you invest, you should read the base prospectus in such shelf registration statement, the preliminary prospectus supplement, when available, and other documents the Company has filed with the Securities and Exchange Commission, or SEC, for more complete information about the Company and this offering.  The offering may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by sending a request to the offices of Citi at Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, telephone number (800) 831-9146 or to Barclays Capital Inc. at Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; [email protected] (phone: 888-603-5847).

SOURCE Protalix BioTherapeutics, Inc.