UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

Protalix BioTherapeutics, Inc.
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(Name of Issuer)

Common Stock, $0.001 par value
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(Title of Class of Securities)

74365A101

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(CUSIP Number)

Opaleye Management Inc., 175 Federal Street, 6th Fl., Boston, MA, 617-229-5085

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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

November 17, 2015
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(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule 
is filed:
|_|  Rule 13d-1(b)
|X|  Rule 13d-1(c)
|_|  Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).

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CUSIP No. 74365A101                   13G                      Page 2 of 6 Pages

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1.   Names of Reporting Persons. 
Opaleye Management Inc.                                          
I.R.S. Identification Nos. of above persons (entities only)

20-5648796

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2.   Check the Appropriate Box If a Member of a Group                     
(See Instructions)                                                  
(a)  |_|                                                            
(b)  |_|                                                            
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3.   SEC Use Only                                                         

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4.   Citizenship or Place of Organization    

Opaleye Management Inc.
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5.   SOLE VOTING POWER                                      

0 shares                                                
-------------------------------------------------------------
6.   SHARED VOTING POWER 
NUMBER OF                                       
SHARES             5,769,022 shares            
BENEFICIALLY     -------------------------------------------------------------
OWNED BY EACH     7.   SOLE DISPOSITIVE POWER         
REPORTING                                                   
PERSON WITH           0 shares                   
-------------------------------------------------------------
8.   SHARED DISPOSITIVE POWER  

5,769,022 shares               
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9.   Aggregate Amount Beneficially Owned by Each Reporting Person    

Opaleye Management Inc. -- 5,769,022 shares
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10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares 
(See Instructions)  |_|    
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11.  Percent of Class Represented by Amount in Row (9)    

Opalaye Management Inc. -- 5.78%
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12.  Type of Reporting Person (See Instructions)    

Opaleye Management Inc. -- 00 (Limited Liability Company)
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CUSIP No. 74365A101                    13G                     Page 3 of 6 Pages

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1.   Names of Reporting Persons. 
James Silverman                                          
I.R.S. Identification Nos. of above persons (entities only)

N/A
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2.   Check the Appropriate Box If a Member of a Group                     
(See Instructions)                                                  
(a)  |_|                                                            
(b)  |_|                                                            
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3.   SEC Use Only                                                         

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4.   Citizenship or Place of Organization    

James Silverman -- United States
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5.   SOLE VOTING POWER                                      

0 shares                                                
-------------------------------------------------------------
6.   SHARED VOTING POWER 
NUMBER OF                                       
SHARES             5,769,022 shares           
BENEFICIALLY     -------------------------------------------------------------
OWNED BY EACH     7.   SOLE DISPOSITIVE POWER         
REPORTING                                                   
PERSON WITH           0 shares                    
-------------------------------------------------------------
8.   SHARED DISPOSITIVE POWER  

5,769,022 shares               
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person    

James Silverman -- 5,769,022 shares
--------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares 
(See Instructions)  |_|    
--------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9)    

James Silverman -- 5.78%
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12.  Type of Reporting Person (See Instructions)    

James Silverman -- IN
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CUSIP No. 74365A101                   13G                      Page 4 of 6 Pages

Item 1.

(a) Name of Issuer:
Protalix BioTherapeutics, Inc.

(b) Address of Issuer's Principal Executive Offices:
2 Snunit Street, Science Park, Carmiel, Israel 21000
Item 2.

(a) Name of Person Filing:
Opaleye Management Inc.
James Silverman

(b) Address of the Principal Office or, if none, residence:
Opaleye Management Inc.
James Silverman
175 Federal Street, 6th Floor
Boston, MA 02110

(c) Citizenship:
Opaleye Management Inc. -- Massachusetts
James Silverman -- United States

(d) Title of Class of Securities:
Common Stock, $0.001 par value

(e) CUSIP Number: 

Item 3.  If this statement is filed pursuant to SS.240.13d-1(b) or 240.13d-2(b)
or (c), check whether the person filing is a:

(a) |_| Broker or dealer registered under section 15 of the Act 
(15 U.S.C. 78o).

(b) |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) |_| Insurance company as defined in section 3(a)(19) of the Act 
(15 U.S.C. 78c).

(d) |_| Investment company registered under section 8 of the Investment 
Company Act of 1940 (15 U.S.C 80a-8).

(e) |_| An investment adviser in accordance with S.240.13d-1(b)(1)(ii)(E);

(f) |_| An employee benefit plan or endowment fund in accordance with 
S.240.13d-1(b)(1)(ii)(F);

(g) |_| A parent holding company or control person in accordance with 
S. 240.13d-1(b)(1)(ii)(G);

(h) |_| A savings associations as defined in Section 3(b) of the Federal 
Deposit Insurance Act (12 U.S.C. 1813);

(i) |_| A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 
1940 (15 U.S.C. 80a-3);

(j) |_| Group, in accordance with S.240.13d-1(b)(1)(ii)(J).

CUSIP No. 74365A101                13G                      Page 5 of 6 Pages

Item 4.  Ownership

Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.

(a) Amount beneficially owned:  Opaleye Management Inc. -- 5,769,022 shares
James Silverman -- 5,769,022 shares

(b) Percent of class: Opaleye Management Inc. -- 5.78%
James Silverman -- 5.78%

(c) Number of shares as to which the person has:  

(i) Sole power to vote or to direct the vote:  
Opaleye Management Inc. -- 0 shares
James Silverman -- 0 shares

(ii) Shared power to vote or to direct the vote:  
Opaleye Management Inc. -- 5,769,022 shares
James Silverman -- 5,769,022 shares

(iii) Sole power to dispose or to direct the disposition
of: 
Opaleye Management Inc. -- 0 shares
James Silverman -- 0 shares

(iiii) Shared power to dispose or to direct the disposition
of:
Opaleye Management Inc. -- 5,769,022 shares
James Silverman -- 5,769,022 shares

Item 5. Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following | |.

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company or Control Person.

Item 8. Identification and Classification of Members of the Group

Item 9. Notice of Dissolution of Group

Item 10. Certification

By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

OPALEYE MANAGEMENT INC.
By: /s/ James Silverman
James Silverman, President

JAMES SILVERMAN
By: /s/ James Silverman
James Silverman, individually

CUSIP No. 74365A101                   13G                      Page 6 of 6 Pages

JOINT FILING AGREEMENT

This Joint Filing Agreement, dated November 23, 2015, is entered into by and
between Opaleye Management Inc., a Massachusetts corporation, and James
Silverman,  an individual (collectively referred to herein as (the "Filers")
Each  of  the  Filers  may  be required to file with the U.S. Securities and  
Exchange Commission a statement on Schedule 13G with respect to common stock 
of Intec Pharma Ltd. beneficially owned by  them  from time to time. 
Pursuant to and in accordance with Rule 13(d)(1)(k) promulgated  under  
the Securities Exchange Act of 1934, as amended, the Filers hereby  agree  to  
file  a  single statement on Schedule 13G and/or 13D (and any amendments  
thereto) on behalf of each of such parties, and hereby further agree to file 
this Joint Filing Agreement as an exhibit to such statement, as required by 
such rule. This Joint Filing Agreement may be terminated by any of the Filers  
upon one  week's  prior  written  notice or such lesser period of notice as the
Filers may mutually agree.

Executed  and  delivered  as  of  the  date  first  above written.

OPALEYE MANAGEMENT INC.

By: /s/ James Silverman
James Silverman
President

JAMES SILVERMAN

By: /s/ James Silverman
James Silverman, individually