Protalix BioTherapeutics Provides Update and Reports 2016 Third Quarter Results Patient Enrollment Ongoing for Phase III Fabry Clinical Trial with approximately 10 Patients Currently in Evaluation and Screening Stages En

Protalix BioTherapeutics Provides Update

and Reports 2016 Third Quarter Results

Patient Enrollment Ongoing for Phase

III Fabry Clinical Trial with approximately 10 Patients Currently in Evaluation and Screening Stages

Enrollment for the Phase II Cystic Fibrosis

Clinical Trial in Final Stages

with Results Expected around Year-End

Phase II Ulcerative Colitis Study Expected

to Commence Before Year-End

CARMIEL, Israel, November 9, 2016 -- Protalix BioTherapeutics,

Inc. (NYSE MKT:PLX) (TASE:PLX) today announced financial results for the fiscal quarter ended September 30, 2016 and provided a

"We are very excited by the progress made with our product

candidates," said Moshe Manor, Protalix's President and Chief Executive Officer. "We are currently enrolling

patients in seven sites globally for our phase III clinical trial of PRX-102 for the treatment of Fabry disease, and we are finalizing

enrollment in our phase II clinical trial of AIR DNaseTM (PRX-110) for the treatment of Cystic Fibrosis (CF)."

Financial Results for the Quarter Ended September 30,

Recent Company Highlights and Business Update

About Protalix BioTherapeutics, Inc.

Protalix is a biopharmaceutical company focused on the development

and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system,

ProCellEx(R). Protalix's unique expression system presents a proprietary method for developing recombinant proteins in a

cost-effective, industrial-scale manner. Protalix's first product manufactured by ProCellEx, taliglucerase alfa, was approved

for marketing by the U.S. Food and Drug Administration (FDA) in May 2012 and, subsequently, by the regulatory authorities of other

countries. Protalix has licensed to Pfizer Inc. the worldwide development and commercialization rights for taliglucerase alfa,

excluding Brazil, where Protalix retains full rights. Protalix's development pipeline includes the following product candidates:

PRX-102, a modified version of the recombinant human alpha-GAL-A protein for the treatment of Fabry disease; OPRX-106, an orally-delivered

anti-inflammatory treatment; PRX-110 for the treatment of Cystic Fibrosis; and others.

Forward-Looking Statements

To the extent that statements in this press release are not

strictly historical, all such statements are forward-looking, and are made pursuant to the safe-harbor provisions of the Private

Securities Litigation Reform Act of 1995. The terms "anticipate," "believe," "estimate," "expect,"

"plan" and "intend" and other words or phrases of similar import are intended to identify forward-looking

statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual future

experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations

as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause material differences

include, among others: failure or delay in the commencement or completion of our preclinical and clinical trials which may be caused

by several factors, including: slower than expected rates of patient recruitment; unforeseen safety issues; determination of dosing

issues; lack of effectiveness during clinical trials; inability to monitor patients adequately during or after treatment; inability

or unwillingness of medical investigators and institutional review boards to follow our clinical protocols; and lack of sufficient

funding to finance clinical trials; the risk that the results of the clinical trials of our product candidates will not support

our claims of safety or efficacy, that our product candidates will not have the desired effects or will be associated with undesirable

side effects or other unexpected characteristics; risks related to the amount and sufficiency of our cash and cash equivalents;

risks related to the successful conclusion of our negotiations with the Brazilian Ministry of Health regarding the purchase of

alfataliglicerase, and our commercialization efforts for alfataliglicerase in Brazil generally; risks relating to our ability to

make scheduled payments of the principal of, to pay interest on or to refinance our 2018 convertible notes or any other indebtedness;

risks relating to the compliance by Funda o Oswaldo Cruz with its purchase obligations and related milestones under

our supply and technology transfer agreement; our dependence on performance by third party providers of services and supplies,

including without limitation, clinical trial services; delays in our preparation and filing of applications for regulatory approval;

delays in the approval or potential rejection of any applications we file with the FDA or other health regulatory authorities,

and other risks relating to the review process; the inherent risks and uncertainties in developing drug platforms and products

of the type we are developing; the impact of development of competing therapies and/or technologies by other companies and institutions;

potential product liability risks, and risks of securing adequate levels of product liability and other necessary insurance coverage;

and other factors described in our filings with the U.S. Securities and Exchange Commission. The statements in this release are

valid only as of the date hereof and we disclaim any obligation to update this information.

The Trout Group, LLC

Source: Protalix BioTherapeutics, Inc.

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