Protalix (PLX) announced that it does not hold cash deposits or securities at either Silicon Valley Bank (SIVB) or Signature Bank, nor does it have any credit facility or other financial relationship with either institution. The company maintains a majority of its cash and short-term bank deposits in money center banks in the United States with the remainder deposited in a large financial institution in Israel. The company does not expect the closure of Silicon Valley Bank or Signature Bank to have any impact on its operations. The company intends to monitor the situation and any potential impact it may have on the company’s partners, suppliers or other relevant parties.
Published first on TheFly
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