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Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2025

USD ($)

Dec. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive “compensation actually paid” and certain financial performance of our Company.


								Average						Value of Initial
								Summary			Average			Fixed $100
		Summary						Compensation			Compensation			Investment Based
		Compensation			Compensation			Table Total for			Actually Paid to			On Total
		Table Total for			Actually paid to			Non-CEO NEOs			Non-CEO NEOs			Stockholder
Year		Mr. Bashan (1)			Mr. Bashan (2)			(3)			(4)			Return (5)			Net Income (loss) (6)
2025		$	1,166,934		$	1,524,580		$	604,485		$	735,352		$	95.74		$	(6,604,000)
2024		$	1,527,792		$	524,655		$	749,713		$	488,529		$	105.62		$	2,932,000
2023		$	2,684,941		$	3,186,324		$	902,702		$	1,094,613			129.93		$	8,312,000

(1)The dollar amounts reported are the amounts reported in the “Total” column of the Summary Compensation Table for Mr. Bashan, our President and Chief Executive Officer.

(2)The dollar amounts reported represent the amount of “compensation actually paid” to Mr. Bashan, as computed in accordance with SEC regulations. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Bashan during the applicable year. In accordance with SEC regulations, the following adjustments were made to Mr. Bashan’s total compensation to determine the compensation actually paid:


					Less: Summary
		Summary			Compensation						Equals:
		Compensation			Table Reported						Compensation
		Table Total for			Value of Equity			Plus: Equity Award			Actually paid to
Year		Mr. Bashan			Awards (a)			Adjustments (b)			Mr. Bashan
2025		$	1,166,934		$	359,032		$	716,678		$	1,524,580
2024		$	1,527,792		$	1,037,121		$	33,984		$	524,655
2023		$	2,684,941		$	1,308,118		$	1,809,501		$	3,186,324

(a)Represents the aggregate grant-date fair value of equity awards as reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.

(b)The equity award adjustments for each applicable year were as set forth in the table below. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:


														Fair Value
														at the End			Value of
														of the Prior			Dividend
					Year over Year			Year End						Year of			Equivalents
					Change in fair			Fair Value			Year over Year			Equity			Accrued or
					Value of			of Vested			Change in Fair			Awards that			other Earnings
		Year End Fair			Outstanding			Equity			Value of Equity			Failed to			Paid on Stock
		Value of Unvested			and Unvested			Awards			Awards Granted			Meet			Awards not
		Equity Awards			Equity Awards			Granted in			in Prior Years			Vesting			Otherwise			Total Equity
		Granted in the			Granted in			the Covered			that Vested in the			Conditions			Reflected in			Award
Year		Covered Year			prior Years			Year			Year			in the Year			Fair Value			Adjustments
2025		$	670,505		$	(19,690)		$	58,641		$	7,222		$	—		$	—		$	716,678
2024		$	—		$	5,049		$	329,950		$	(301,015)		$	—		$	—		$	33,984
2023		$	934,501		$	210,735		$	505,750		$	158,515		$	—		$	—		$	1,809,501

(3)The dollar amounts reported represent the average of the amounts reported for our Named Executive Officers as a group (excluding our CEO) in the “Total” column of the Summary Compensation Table in each applicable year. The Named Executive Officers included for purposes of calculating the average amounts are Mr. Mamlok, Mr. Naos, and Mr. Rubin.

(4)The dollar amounts reported represent the average amount of “compensation actually paid” to the Named Executive Officers identified in footnote 3, as computed in accordance with SEC regulations. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the Named Executive Officers during the applicable year. In accordance with the SEC regulations, the following adjustments were made to average total compensation for the Named Executive Officers for each year to determine the compensation actually paid:


		Average Reported
		Summary			Less: Summary						Equals: Average
		Compensation			Compensation Table Average			Plus: Average			Compensation
		Table Total for			Reported Value of			Equity Award			Actually Paid to
Year		Other NEOs			Equity Awards			Adjustments (a)				Other NEOs
2025		$	604,485		$	200,735		$	331,602		$	735,352
2024		$	749,713		$	293,799		$	32,616		$	488,529
2023		$	902,702		$	302,403		$	494,314		$	1,094,613

(a)	The amounts deducted or added in calculating the total average equity award adjustments are as follows:

 

Year over

 

Fair Value at

 

Average Value

 

Average Year

Year Average

the End of

of Dividend

Year over Year

End Fair

Change in

the Prior

Equivalents

Average

Value of

Fair Value of

Year of

Accrued or

Average Year End

Change in fair

Vested

Equity

other Earnings

Fair Value of

Value of

Equity

Awards

Awards that

Paid on Stock

Unvested Equity

Outstanding and

Awards

Granted in

Failed to

Awards not

Awards Granted

Unvested Equity Awards

Granted in

Prior Years

meet Vesting

Otherwise

Total Average

in the Covered

Granted in prior

the Covered

that Vested in

Conditions in

Reflected in

Equity Award

Year

 

Year

 

Years

 

Year

 

the Year

 

the Year

 

Fair Value

 

Adjustments

2025

252,378

(7,857)

61,451

25,630

—

331,602

2024

66,865

3,326

55,513

(93,089)

—

32,616

2023

317,561

89,197

22,868

64,688

—

494,314

(5)Cumulative TSR is the value of a $100 investment in our common stock calculated by dividing the difference between the per share price of our common stock at the end of each year shown and the beginning of the measurement period by the per share price of our common stock at the beginning of the measurement period.

(6)The dollar amounts reported represent the amount of net income reflected in our Consolidated Statements of Income included in our Annual Report on Form 10-K for the applicable fiscal year.

The salaries of each of our Named Executive Officers, including excluding our CEO, are based on New Israeli Shekels (NIS). The conversion rates from NIS to US Dollars was based on the 2025 yearly average rate of NIS 3.4519 per US Dollar as published by the Bank of Israel.

Named Executive Officers, Footnote

(1)The dollar amounts reported are the amounts reported in the “Total” column of the Summary Compensation Table for Mr. Bashan, our President and Chief Executive Officer.

PEO Total Compensation Amount

$ 1,166,934

$ 1,527,792

$ 2,684,941

PEO Actually Paid Compensation Amount

$ 1,524,580

524,655

3,186,324

Adjustment To PEO Compensation, Footnote


					Less: Summary
		Summary			Compensation						Equals:
		Compensation			Table Reported						Compensation
		Table Total for			Value of Equity			Plus: Equity Award			Actually paid to
Year		Mr. Bashan			Awards (a)			Adjustments (b)			Mr. Bashan
2025		$	1,166,934		$	359,032		$	716,678		$	1,524,580
2024		$	1,527,792		$	1,037,121		$	33,984		$	524,655
2023		$	2,684,941		$	1,308,118		$	1,809,501		$	3,186,324

(a)Represents the aggregate grant-date fair value of equity awards as reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.


														Fair Value
														at the End			Value of
														of the Prior			Dividend
					Year over Year			Year End						Year of			Equivalents
					Change in fair			Fair Value			Year over Year			Equity			Accrued or
					Value of			of Vested			Change in Fair			Awards that			other Earnings
		Year End Fair			Outstanding			Equity			Value of Equity			Failed to			Paid on Stock
		Value of Unvested			and Unvested			Awards			Awards Granted			Meet			Awards not
		Equity Awards			Equity Awards			Granted in			in Prior Years			Vesting			Otherwise			Total Equity
		Granted in the			Granted in			the Covered			that Vested in the			Conditions			Reflected in			Award
Year		Covered Year			prior Years			Year			Year			in the Year			Fair Value			Adjustments
2025		$	670,505		$	(19,690)		$	58,641		$	7,222		$	—		$	—		$	716,678
2024		$	—		$	5,049		$	329,950		$	(301,015)		$	—		$	—		$	33,984
2023		$	934,501		$	210,735		$	505,750		$	158,515		$	—		$	—		$	1,809,501

Non-PEO NEO Average Total Compensation Amount

$ 604,485

749,713

902,702

Non-PEO NEO Average Compensation Actually Paid Amount

$ 735,352

488,529

1,094,613

Adjustment to Non-PEO NEO Compensation Footnote


		Average Reported
		Summary			Less: Summary						Equals: Average
		Compensation			Compensation Table Average			Plus: Average			Compensation
		Table Total for			Reported Value of			Equity Award			Actually Paid to
Year		Other NEOs			Equity Awards			Adjustments (a)				Other NEOs
2025		$	604,485		$	200,735		$	331,602		$	735,352
2024		$	749,713		$	293,799		$	32,616		$	488,529
2023		$	902,702		$	302,403		$	494,314		$	1,094,613

(a)	The amounts deducted or added in calculating the total average equity award adjustments are as follows:

 

Year over

 

Fair Value at

 

Average Value

 

Average Year

Year Average

the End of

of Dividend

Year over Year

End Fair

Change in

the Prior

Equivalents

Average

Value of

Fair Value of

Year of

Accrued or

Average Year End

Change in fair

Vested

Equity

other Earnings

Fair Value of

Value of

Equity

Awards

Awards that

Paid on Stock

Unvested Equity

Outstanding and

Awards

Granted in

Failed to

Awards not

Awards Granted

Unvested Equity Awards

Granted in

Prior Years

meet Vesting

Otherwise

Total Average

in the Covered

Granted in prior

the Covered

that Vested in

Conditions in

Reflected in

Equity Award

Year

 

Year

 

Years

 

Year

 

the Year

 

the Year

 

Fair Value

 

Adjustments

2025

252,378

(7,857)

61,451

25,630

—

331,602

2024

66,865

3,326

55,513

(93,089)

—

32,616

2023

317,561

89,197

22,868

64,688

—

494,314

Compensation Actually Paid vs. Total Shareholder Return

Compensation actually paid to Mr. Bashan during the year ended December 31, 2025 was approximately $1.5 million, an increase of approximately $1.0 million from approximately $0.5 million for the year ended December 31, 2024. Average compensation actually paid to our Non-CEO Named Executive Officers for the years ended December 31, 2025 was approximately $0.7 million, an increase of approximately $0.2 million from approximately $0.5 million for the year ended December 31, 2024. For the year ended December 31, 2025, our TSR was $95.74, a decrease of 9%, compared to TSR of $105.62 for the year ended December 31, 2024. Our net loss for the year ended December 31, 2025 was $6.6 million compared to net income of $2.9 million over the same period in 2024.

Compensation actually paid to Mr. Bashan and to our Non-CEO Named Executive Officers as a group is not directly correlated with our TSR or our net income (loss) over the three years presented in the above tables. In the second half of 2023, we shifted our primarily focus from the clinical and regulatory development and approval of pegunigalsidase alfa to the support of our commercial partner’s launch efforts post approval of pegunigalsidase alfa and redirecting our R&D and clinical resources towards the strengthening of our pipeline of product candidates, including

but not limited to, the clinical development of our leading drug candidate, PRX-115 (pegylated Uricase for the potential treatment of uncontrolled Gout). Accordingly, TSR and net income (loss), as performance measures, are not directly correlated to our executive compensation determinations. As increases in the market price of our common stock correspond to increases in the fair market value of our equity grants, the calculation of compensation actually paid with respect to equity grants held by Mr. Bashan and to our Non-CEO Named Executive Officers increases in a like manner. In the year ended December 31, 2023, given the approval of pegunigalsidase alfa for adult patients with Fabry disease by both the US Food and Drug Administration and the European Medicines Agency, the advancement in the clinical development of our PRX-115 drug candidate and strengthening of our Company’s liquidity and cash position, the Compensation Committee of our Board of Directors elected to award to Mr. Bashan and to our Non-CEO Named Executive Officers, as well as other officers and employees of our Company, an annual cash bonus and a one-time special cash bonus for such positive achievements. Compensation decisions for 2024 and 2025 were based on the Company’s successful completion of a Phase 1 clinical trial of PRX-115 and the preparations for a Phase 2 trial, as well as the continuous organic growth of pegunigalsidase alfa and the expansion of geographic approvals therefor.

Compensation Actually Paid vs. Net Income

Total Shareholder Return Amount

$ 95.74

105.62

129.93

Net Income (Loss)

$ (6,604,000)

2,932,000

8,312,000

PEO Name

Mr. Bashan

Equity Awards Adjustments, Footnote


														Fair Value
														at the End			Value of
														of the Prior			Dividend
					Year over Year			Year End						Year of			Equivalents
					Change in fair			Fair Value			Year over Year			Equity			Accrued or
					Value of			of Vested			Change in Fair			Awards that			other Earnings
		Year End Fair			Outstanding			Equity			Value of Equity			Failed to			Paid on Stock
		Value of Unvested			and Unvested			Awards			Awards Granted			Meet			Awards not
		Equity Awards			Equity Awards			Granted in			in Prior Years			Vesting			Otherwise			Total Equity
		Granted in the			Granted in			the Covered			that Vested in the			Conditions			Reflected in			Award
Year		Covered Year			prior Years			Year			Year			in the Year			Fair Value			Adjustments
2025		$	670,505		$	(19,690)		$	58,641		$	7,222		$	—		$	—		$	716,678
2024		$	—		$	5,049		$	329,950		$	(301,015)		$	—		$	—		$	33,984
2023		$	934,501		$	210,735		$	505,750		$	158,515		$	—		$	—		$	1,809,501