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Protalix BioTherapeutics Announces Public Offering of Common Stock
Date:10/7/2007

CARMIEL, Israel, Oct. 7 /PRNewswire-FirstCall/ -- Protalix BioTherapeutics, Inc. (Amex: PLX), today announced that it has commenced a proposed underwritten public offering of its common stock pursuant to a preliminary prospectus supplement to its effective shelf registration statement. The company is proposing to sell 3,726,708 shares of its common stock and certain selling securityholders are proposing to sell an aggregate of 1,242,236 shares of common stock. The selling securityholders have also granted a 30-day over-allotment option to the underwriters to purchase a number of shares equal to 15% of the aggregate number of shares sold in the initial offering. As the company is endeavoring to raise gross proceeds of approximately $130 million, it may be required to increase the number of its shares to be sold in the proposed offering if the offering price, as determined through negotiation between the company and its underwriters, is lower than the current trading range of the company's common stock on the American Stock Exchange. Protalix BioTherapeutics will not receive any proceeds from the sale of shares of common stock by the selling securityholders.

UBS Securities LLC is acting as sole book-running manager for this offering. CIBC World Markets Corp. is acting as a co-manager for this offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Copies of the preliminary prospectus supplement and accompanying prospectus may be obtai
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SOURCE Protalix BioTherapeutics, Inc.
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