Protalix BioTherapeutics Inc

Except as set forth below, there have been no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2023.

Significant parts of our operations are located in Israel and, therefore, our results may be adversely affected by current political, economic and military conditions in Israel.

In October 2023, terrorists from the Hamas organization infiltrated Israel’s southern border from the Gaza Strip and in other areas within the State of Israel attacking a number of civilian and military targets while simultaneously launching extensive rocket attacks on the Israeli population and industrial centers. At the same time, clashes between Israel and Hezbollah in Lebanon increased. In response, Israel’s security cabinet declared war against the Hamas and a military campaign against these terrorist organizations commenced in parallel to their continued rocket, drone and terror attacks. Since the outbreak of the war, other regional actors, including Iran, have taken military action against Israel. It is currently not possible to predict the duration or severity of the ongoing conflict or its effects on our business, results of operations and financial condition. To date, our operations have not been adversely affected by this situation. Hostilities have not taken place where our facilities are located, nor have rockets or drones struck near our facilities. We do not anticipate any disruption to the supply of Elfabrio or Elelyso. However, our facilities are in range of certain of the rockets and drones originating from Lebanon and elsewhere. Any damage to our facilities or disruption of supplies as a result of war or other hostile action may have a material adverse effect on our business, results of operations and financial condition. Further, the potential for the war between Israel and Hamas to lead to a broader conflict in the Middle East may adversely affect geopolitical stability, the global economy and specific markets.