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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>the Securities Exchange Act of 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of Report (Date of Earliest Event Reported):
February 15, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Protalix BioTherapeutics, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of registrant as specified in
its charter) </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 32%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 2%; vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 32%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 2%; vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 32%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0">Florida</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0">001-33357</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0">65-0643773</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or other jurisdiction</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center"><B>of incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center"><B>Identification No.)</B></P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR>
    <TD STYLE="width: 48%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 4%; vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 48%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0">2 Snunit Street</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0">20100</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0">Science Park, POB 455</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0">Carmiel, Israel</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0">(Address of principal executive offices)</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0; text-indent: 0"><B>(Zip Code)</B></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Registrant&rsquo;s telephone number, including
area code +972-4-988-9488</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Former name or former address, if changed
since last report.) </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings; padding: 0; text-indent: 0">&uml;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings; padding: 0; text-indent: 0">&uml;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings; padding: 0; text-indent: 0">&uml;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings; padding: 0; text-indent: 0">&uml;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Item 2.02. Results of Operations and
Financial Condition</B></P>

Our cash and cash equivalents were $27,001,000 as of December 31, 2011. Our audited consolidated financial statements
will not be available until after the offering described under Item 7.01 below is complete.<BR> <BR> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Item 7.01. Regulation FD Disclosure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On February 15, 2012, Protalix BioTherapeutics, Inc. (the
&ldquo;Company&rdquo;) issued a press release announcing that it intends, subject to market conditions, to offer and sell shares
of its common stock in an underwritten public offering (the &ldquo;Offering&rdquo;). Jefferies &amp; Company, Inc. is acting as
the sole book-running manager for the Offering and each of Canaccord Genuity Inc. and Oppenheimer &amp; Co. Inc. are acting as
co-managers for the Offering. The Company expects to grant the underwriters a 30-day option to purchase additional shares of its
common stock to cover over-allotments, if any. The Offering is subject to market conditions, and there can be no assurance as
to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. A copy of the press release
is attached hereto as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in">The information contained in
Item 2.02, Item 7.01 and in Exhibit 99.1 shall not be deemed &ldquo;filed&rdquo; for purposes of Section 18
of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), or incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by
specific reference in such a filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 8.01. Other Events</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In connection with the Offering described in Item 7.01, the Company
has updated the risk factors in its periodic reports filed under the Securities Exchange Act of 1934, as amended. A copy of the
updated risk factors is attached as Exhibit 99.2 to this Form 8-K and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>Item 9.01. Financial Statements and
Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0in"><B>(d) &#9;Exhibits </B></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">99.1</TD><TD STYLE="text-align: justify">Press release, dated February 15, 2012.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">99.2</TD><TD STYLE="text-align: justify">Risk Factors.<BR STYLE="mso-special-character: line-break"></TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Pursuant to the requirements of
the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

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    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0"><B>PROTALIX BIOTHERAPEUTICS, INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 48%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 32%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 15%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">Date: February 15, 2012</TD>
    <TD STYLE="padding: 0; text-indent: 0">By: </TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid"><U STYLE="text-decoration: none">/s/ David Aviezer</U></TD>
    <TD STYLE="padding: 0; font-weight: bold; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Name: </TD>
    <TD STYLE="padding: 0; text-indent: 0">David Aviezer, Ph.D.</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Title:</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">President and&nbsp;Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
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{"company-data": {"conformed-name": "Protalix BioTherapeutics, Inc.", "cik": "0001006281", "assigned-sic": "2836", "irs-number": "650643773", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33357", "film-number": "12616283"}, "business-address": {"street1": "2 SNUNIT ST", "street2": "SCIENCE PARK, POB 455", "city": "CARMIEL", "state": "L3", "zip": "20100", "phone": "972-4-988-9488"}, "mail-address": {"street1": "2 SNUNIT ST", "street2": "SCIENCE PARK, POB 455", "city": "CARMIEL", "state": "L3", "zip": "20100"}, "former-company": [{"former-conformed-name": "ORTHODONTIX INC", "date-changed": "19980422"}, {"former-conformed-name": "EMBASSY ACQUISITION CORP", "date-changed": "19960124"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
February 15, 2012
Protalix BioTherapeutics, Inc.
(Exact name of registrant as specified in
its charter)
Florida
001-33357
65-0643773
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
2 Snunit Street
20100
Science Park, POB 455
Carmiel, Israel
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including
area code +972-4-988-9488
(Former name or former address, if changed
since last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02. Results of Operations and
Financial Condition
Our cash and cash equivalents were $27,001,000 as of December 31, 2011. Our audited consolidated financial statements
will not be available until after the offering described under Item 7.01 below is complete.
Item 7.01. Regulation FD Disclosure
On February 15, 2012, Protalix BioTherapeutics, Inc. (the
"Company") issued a press release announcing that it intends, subject to market conditions, to offer and sell shares
of its common stock in an underwritten public offering (the "Offering"). Jefferies & Company, Inc. is acting as
the sole book-running manager for the Offering and each of Canaccord Genuity Inc. and Oppenheimer & Co. Inc. are acting as
co-managers for the Offering. The Company expects to grant the underwriters a 30-day option to purchase additional shares of its
common stock to cover over-allotments, if any. The Offering is subject to market conditions, and there can be no assurance as
to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. A copy of the press release
is attached hereto as Exhibit 99.1.
The information contained in
Item 2.02, Item 7.01 and in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by
specific reference in such a filing.
Item 8.01. Other Events
In connection with the Offering described in Item 7.01, the Company
has updated the risk factors in its periodic reports filed under the Securities Exchange Act of 1934, as amended. A copy of the
updated risk factors is attached as Exhibit 99.2 to this Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and
Exhibits
(d) 	Exhibits
99.1
Press release, dated February 15, 2012.
99.2
Risk Factors.
2
SIGNATURES
Pursuant to the requirements of
the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
PROTALIX BIOTHERAPEUTICS, INC.
Date: February 15, 2012
By:
/s/ David Aviezer
Name:
David Aviezer, Ph.D.
Title:
President and Chief Executive Officer
3