Conference call and webcast: today, August 17, 2023, 9:00 am
ET
REHOVOT, Israel, Aug. 17,
2023 /PRNewswire/ -- Evogene Ltd. (Nasdaq: EVGN)
(TASE: EVGN), a leading computational biology company aiming to
revolutionize life-science-based product discovery and development
utilizing cutting-edge computational biology technologies across
multiple market segments, today announced its financial results for
the second quarter period ended June 30,
2023.
![Evogene Logo Evogene Logo](https://mma.prnewswire.com/media/1947468/Evogene_Logo.jpg)
Ofer Haviv, Evogene's
President and Chief Executive Officer, stated: "The second
quarter of 2023 marked a period of remarkable achievements for the
Evogene group. It was a pivotal point in the transformation that
Evogene has been undergoing since the creation of our three AI
tech- engines in 2019. Listing some of the main achievements in
this period: announcing the receiving of purchase orders in the
aggregate amount of $11.3 million for
Casterra's elite castor seeds; execution of a licensing agreement
between Lavie Bio and Corteva, which
includes an upfront payment of $5
million, in addition to milestone and royalty payments;
closing of a financial round for Biomica in the amount of
$20 million; significant
infrastructure and computational architecture improvements,
including new applications, in our tech-engines resulting in new
capabilities, and better automation, scalability, and speed; and
last but not least, receiving the trust of high quality investors
demonstrated by an investment in Evogene's equity in the gross
amount of $8.5 million in our recent
financing round, all happening in a relatively short timeframe.
These are clear signals that the Evogene Group is on the right path
to success."
Mr. Haviv further stated: "In parallel, Evogene is
increasing its efforts to establish direct collaborations with
leading companies in new domains of activity, areas not currently
covered by our subsidiaries, for product development leveraging our
tech-engines. Although these discussions have only recently begun,
the responses we have received to our unique offering have been
positive, and we hope that some of these discussions will
materialize into collaborative agreements in the near future."
Evogene and Subsidiaries - Highlights
Evogene Ltd.
- In July, Evogene successfully concluded a fundraising round,
securing total gross proceeds of $8.5
million. The securities issued in this round were ordinary
shares only and it did not include any warrant coverage.
- In July, Evogene unveiled the latest enhancement to its
ChemPass AI tech-engine: TargetSelector, a
groundbreaking application designed to streamline target-protein
discovery. TargetSelector uses predictive machine learning
algorithms and genomic data to help researchers identify novel
target proteins for innovative products. This addition to the
ChemPass AI tech-engine, strongly position us to forge
strategic partnerships with industry leaders, expediting product
development and delivering novel solutions to pressing global
needs, such as developing sustainable new pesticides and
therapeutics.
- Biomica Ltd. - develops microbiome-based therapeutics,
leveraging Evogene's MicroBoost AI tech-engine.
- In April 2023, Biomica completed
a $20 million financing round with a
post-money valuation of $50 million,
led by a $10 million investment from
Shanghai Healthcare Capital.
- BMC128, the company's leading candidate in its
immune-oncology program, is currently in phase 1 clinical trial at
Rambam Health Care Campus in Israel, aiming to evaluate its safety
alongside BMS Opdivo® for Non-small-cell lung cancer, melanoma, and
Renal cell carcinoma; the trial has enrolled 6 out of the planned
10-12 patients.
- In August 2023, Biomica opened a
second site in Israel at The
Davidoff Cancer Center, to open the trial to additional potential
patients for its BMC128 phase 1 clinical trial.
- Biomica reported positive results from pre-clinical studies of
BMC426 and BMC427 for Irritable bowel syndrome (IBS)
treatment, in collaboration with Prof. Kara
Gross Margolis at New York
University. The studies showed that the live bacterial
consortia were effective in reducing visceral pain, a major IBS
symptom. Biomica will conduct additional pre-clinical studies and
prepare for clinical trials.
Lavie Bio Ltd.
- develops and commercializes microbiome-based ag-biological
products, utilizing Evogene's MicroBoost AI tech-engine.
- Lavie Bio entered a licensing
agreement with Corteva, conferring exclusive rights to Corteva for
advancing and commercializing Lavie
Bio's lead bio-fungicides, LAV311 and LAV312 -
targeting fruit rots. This agreement follows two years of
independent field validation trials conducted by both companies.
Lavie Bio will receive an initial
payment of $5 million, in two
installments, and will also be eligible for additional future
milestone payments and royalties from Corteva's sales of the
products.
- Thrivus™, Lavie Bio's
bio-inoculant for spring wheat, has received regulatory approval
from the Canadian Food Inspection Agency (CFIA). This approval
triples the product's sales territory, expanding its global reach.
Thrivus™ is already being used in the United States, where it has demonstrated
its efficacy in increasing Hard Red Spring Wheat production by an
average of 3-4 bushels per acre. This translates to a 4X return on
investment for farmers.
AgPlenus Ltd. - aims to develop and commercialize
next-generation crop protection products, utilizing Evogene's
ChemPass AI tech-engine.
- Dr. Adrian Percy, an
accomplished agricultural scientist with over 20 years of
experience, joined AgPlenus' board of directors.
- The integration of Evogene's TargetSelector application
into AgPlenus's technology platform, powered by the ChemPass
AI tech-engine, enhances the ability to identify new
mode-of-action mechanisms, urgently needed to address the growing
resistance of pests to existing commercial products. This
advancement strengthens AgPlenus's potential for forging strategic
partnerships with industry leaders.
Casterra Ltd. - provides an integrated end-to-end
solution for large-scale castor bean cultivation, utilizing
Evogene's GeneRator AI tech-engine.
- In June, Casterra signed a framework agreement with a prominent
oil and gas company. The agreement secured initial purchase orders
worth $9.1 million for the supply of
castor seeds to be cultivated in specific African territories.
- Later in June, Casterra received another purchase order, valued
at $2.2 million, for additional
territories in Africa.
Consolidated Financial Results Summary
- As of June 30, 2023, Evogene had
consolidated cash, cash equivalents and short-term bank deposits of
approximately $33.9 million. Of this
sum, Biomica accounted for $16.8
million, and Lavie Bio holds
$7.1 million. Evogene, together with
Casterra, Canonic, and AgPlenus, possessed an aggregate of
$10.0 million in cash.
The injection of funds from the last round in July, total gross
proceeds of $8.5 million, strengthens
Evogene's financial position and provides the Company with the
resources needed to execute its plans effectively and in a timely
fashion. An example of such financial need is the significant
increase in the required working capital of our wholly owned
subsidiary, Casterra, to produce the castor seeds needed to fulfill
the purchase orders received in the last months, totaling
$11.3 million.
It is important to note that the $10
million reflected in the June
30th cash balance of Evogene together with Casterra, Canonic
and AgPlenus, do not include funds raised by Evogene in July and
any amount due under the purchase orders received by Casterra in
the last few months, which are expected to be supplied during the
second half of the year and at the beginning of next year. Further,
note that the $7.1 million reflected
in the cash balance of Lavie Bio,
does not include the $5 million
expected to be received as an upfront payment from the licensing
agreement with Corteva that was announced in July.
During the second quarter, the consolidated cash usage was
approximately $5.6 million, which
included $2.8 million used by
Lavie Bio and Biomica.
- Revenues for the second quarter of 2023 were
approximately $654 thousand compared
to approximately $312 thousand in the
same period the previous year. The revenue increase was primarily
due to revenues recognized per the collaboration agreement of
Evogene's subsidiary AgPlenus with Corteva and from sales of
Lavie Bio's
ThrivusTM tm product.
- R&D expenses for the second quarter of 2023, which
are reported net of non-refundable grants received, were
approximately $5.4 million and
remained stable as compared to approximately $5.4 million in the same period in the previous
year.
- Sales and marketing expenses were approximately
$928 thousand for the second quarter
of 2023 and slightly decreased as compared to approximately
$962 thousand in the same period in
the previous year. The main contributor to this decrease in expense
was a reduction in personnel expenses at Canonic.
- General and administrative expenses were approximately
$1.8 million in the second quarter of
2023, compared to approximately $1.7
million in the same period in the previous year. The
increase is mainly due to expenses related to share-based
compensation.
- Operating loss for the second quarter of 2023 was
approximately $7.9 million, compared
to an operating loss of approximately $8.0
million in the same period in the previous year.
- Financing income, net of financing expenses, for the
second quarter of 2023 was $0.1
million in comparison to financing expenses, net of
financing income, of $1.7 million in
the same period in the previous year. This difference was mainly
due to the U.S. Dollar and Shekel exchange rate differences between
periods, a decrease in marketable securities value in the second
quarter of 2022 and an increase in interest income during the
second quarter of 2023.
- Net loss for the second quarter of 2023 was
approximately $7.8 million, compared
to a net loss of approximately $9.8
million in the same period in the previous year, mainly due
to the financing expenses (income) differences as mentioned
above.
For the full press release (includes financial tables), click
here.
For an accessible file (includes financial tables), click
here.
Evogene has published its updated investor presentation, which
can be found on its investor relations' website
at: https://www.evogene.com/investor-relations/presentations-and-webcasts/
Conference Call & Webcast Details:
Date: August 17, 2023. Time:
9:00 am ET; 4:00 pm IDT
Dial-in numbers:1-888-281-1167 toll-free from the United States, or +972-3-918-0609
internationally
Webcast & Presentation link available
at: https://www.evogene.com/investor-relations/presentations-and-webcasts/
The Company's investor presentation can be viewed at the above
link, which is in the investor relations section of the company
website.
Replay Information: A replay of the conference call will be
available approximately two hours following the completion of the
call.
To access the replay, please dial 1-888-326-9310 toll-free from
the United States or
+972-3-925-5901 internationally. The replay will be accessible
following the call for three days. An archive of the webcast will
be available on the Company's website.
About Evogene Ltd.
Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN) is a computational
biology company leveraging big data and artificial intelligence,
aiming to revolutionize the development of life-science based
products by utilizing cutting-edge technologies to increase the
probability of success while reducing development time and
cost.
Evogene established three unique tech-engines – MicroBoost
AI, ChemPass AI and GeneRator AI. Each tech-engine is
focused on the discovery and development of products based on one
of the following core components: microbes (MicroBoost AI),
small molecules (ChemPass AI), and genetic elements
(GeneRator AI).
Evogene uses its tech-engines to develop products through
strategic partnerships and collaborations, and its five
subsidiaries including:
- Biomica Ltd. (www.biomicamed.com) – developing and advancing
novel microbiome-based therapeutics to treat human disorders
powered by MicroBoost AI;
- Lavie Bio (www.lavie-bio.com) –
developing and commercially advancing, microbiome based
ag-biologicals powered by MicroBoost AI;
- AgPlenus Ltd. (www.agplenus.com) – developing next generation
ag-chemicals for effective and sustainable crop protection powered
by ChemPass AI;
- Canonic (www.canonicbio.com) – developing medical cannabis
products based on decoding plant genetics for optimized therapeutic
effect powered by GeneRator AI; and
- Casterra Ag (www.casterra.co) – developing and marketing
superior castor seed varieties producing high yield and high-grade
oil content, on an industrial scale for the biofuel and other
industries powered by GeneRator AI.
For more information, please visit: www.evogene.com.
Forward-Looking Statements
This press release contains "forward-looking statements"
relating to future events. These statements may be identified by
words such as "may", "could", "expects", "hopes" "intends",
"anticipates", "plans", "believes", "scheduled", "estimates",
"demonstrates" or words of similar meaning. For example, Evogene
and its subsidiaries are using forward-looking statements in this
press release when it discusses establishment of collaboration
agreements with leading companies in new domains of activity,
TargetSelector ability to identify novel target proteins for
innovative products, the BMC426 and BMC427 for IBS
treatment effectiveness in reducing visceral pain and related
studies and trials, future milestone payments and royalties from
Corteva's sales of Lavie Bio's
products, the resources needed to execute the company's plans
effectively and in a timely fashion, return on investment for
farmers who use ThrivusTM, and the enhancement of
AgPlenus' ability to identify new pesticide mechanisms due to the
use of Evogene's TargetSelector application. Such statements
are based on current expectations, estimates, projections and
assumptions, describe opinions about future events, involve certain
risks and uncertainties which are difficult to predict and are not
guarantees of future performance. Therefore, actual future results,
performance, or achievements of Evogene and its subsidiaries may
differ materially from what is expressed or implied by such
forward-looking statements due to a variety of factors, many of
which are beyond the control of Evogene and its subsidiaries,
including, without limitation, those risk factors contained in
Evogene's reports filed with the applicable securities authority.
In addition, Evogene and its subsidiaries rely, and expect to
continue to rely, on third parties to conduct certain activities,
such as their field trials and pre-clinical studies, and if these
third parties do not successfully carry out their contractual
duties, comply with regulatory requirements or meet expected
deadlines, Evogene and its subsidiaries may experience significant
delays in the conduct of their activities. Evogene and its
subsidiaries disclaim any obligation or commitment to update these
forward-looking statements to reflect future events or developments
or changes in expectations, estimates, projections and
assumptions.
Logo -
https://mma.prnewswire.com/media/1947468/Evogene_Logo.jpg
Evogene Investors' Contact:
Rachel Pomerantz Gerber, Head of Investor
Relations at Evogene
Email: rachel.pomerantz@evogene.com
Tel: +972-8-9311901
CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
|
|
|
|
|
|
June
30,
|
December
31,
|
|
|
2023
|
|
2022
|
|
|
Unaudited
|
|
Audited
|
CURRENT
ASSETS:
|
|
|
|
|
Cash and cash
equivalents
|
|
$
20,233
|
|
$
28,980
|
Marketable
securities
|
|
-
|
|
6,375
|
Short-term bank
deposits
|
|
13,641
|
|
-
|
Trade
receivables
|
|
178
|
|
348
|
Other receivables and
prepaid expenses
|
|
1,419
|
|
1,482
|
Inventories
|
|
249
|
|
566
|
|
|
|
|
|
|
|
35,720
|
|
37,751
|
LONG-TERM
ASSETS:
|
|
|
|
|
Long-term deposits
and other receivables
|
|
53
|
|
74
|
Deferred
taxes
|
|
-
|
|
94
|
Right-of-use-assets
|
|
1,319
|
|
1,568
|
Property, plant and
equipment, net
|
|
2,589
|
|
2,499
|
Intangible assets,
net
|
|
13,659
|
|
14,140
|
|
|
|
|
|
|
|
17,620
|
|
18,375
|
|
|
|
|
|
|
|
$
53,340
|
|
$
56,126
|
CURRENT
LIABILITIES:
|
|
|
|
|
Trade
payables
|
|
$
1,078
|
|
$
1,036
|
Employees and payroll
accruals
|
|
2,159
|
|
1,987
|
Lease
liability
|
|
894
|
|
884
|
Liabilities in
respect of government grants
|
|
541
|
|
79
|
Deferred revenues and
other advances
|
|
392
|
|
22
|
Other
payables
|
|
1,327
|
|
1,617
|
|
|
|
|
|
|
|
6,391
|
|
5,625
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
Lease
liability
|
|
585
|
|
932
|
Liabilities in
respect of government grants
|
|
4,343
|
|
4,665
|
Other
advances
|
|
578
|
|
-
|
Convertible
SAFE
|
|
10,334
|
|
10,114
|
|
|
|
|
|
|
|
15,840
|
|
15,711
|
SHAREHOLDERS'
EQUITY:
|
|
|
|
|
Ordinary shares of
NIS 0.02 par value:
Authorized −
150,000,000 ordinary shares; Issued
and outstanding – 41,724,467 shares as of June 30,
2023 and 41,260,439 shares as of December 31, 2022
|
|
237
|
|
235
|
Share premium and
other capital reserve
|
|
261,052
|
|
261,402
|
Accumulated
deficit
|
|
(247,001)
|
|
(233,707)
|
|
|
|
|
|
Equity attributable
to equity holders of the Company
|
|
14,288
|
|
27,930
|
|
|
|
|
|
Non-controlling
interests
|
|
16,821
|
|
6,860
|
|
|
|
|
|
Total
equity
|
|
31,109
|
|
34,790
|
|
|
|
|
|
|
|
$
53,340
|
|
$
56,126
|
|
|
|
|
|
CONSOLIDATED INTERIM STATEMENTS OF PROFIT OR LOSS
U.S. dollars in thousands (except share and per share
data)
|
|
Six months ended
June 30,
|
|
Three months ended
June 30,
|
|
Year ended
December 31,
|
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
2022
|
|
|
Unaudited
|
|
Audited
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$
1,295
|
|
$549
|
|
$654
|
|
$312
|
|
$
1,675
|
Cost of
revenues
|
|
783
|
|
425
|
|
461
|
|
262
|
|
909
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
512
|
|
124
|
|
193
|
|
50
|
|
766
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses
(income):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development, net
|
|
10,169
|
|
11,043
|
|
5,369
|
|
5,417
|
|
20,792
|
Sales and
marketing
|
|
1,728
|
|
1,870
|
|
928
|
|
962
|
|
3,933
|
General and
administrative
|
|
3,312
|
|
3,273
|
|
1,797
|
|
1,678
|
|
6,482
|
Other
income
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(3,500)
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses, net
|
|
15,209
|
|
16,186
|
|
8,094
|
|
8,057
|
|
27,707
|
|
|
|
|
|
|
|
|
|
|
|
Operating
loss
|
|
(14,697)
|
|
(16,062)
|
|
(7,901)
|
|
(8,007)
|
|
(26,941)
|
|
|
|
|
|
|
|
|
|
|
|
Financing
income
|
|
699
|
|
485
|
|
391
|
|
444
|
|
516
|
Financing
expenses
|
|
(785)
|
|
(3,243)
|
|
(247)
|
|
(2,153)
|
|
(3,329)
|
|
|
|
|
|
|
|
|
|
|
|
Financing income
(expenses), net
|
|
(86)
|
|
(2,758)
|
|
144
|
|
(1,709)
|
|
(2,813)
|
|
|
|
|
|
|
|
|
|
|
|
Loss before taxes on
income
|
|
(14,783)
|
|
(18,820)
|
|
(7,757)
|
|
(9,716)
|
|
(29,754)
|
Taxes on income (tax
benefit)
|
|
(24)
|
|
40
|
|
21
|
|
38
|
|
90
|
|
|
|
|
|
|
|
|
|
|
|
Loss
|
|
$ (14,759)
|
|
$(18,860)
|
|
$(7,778)
|
|
$(9,754)
|
|
$
(29,844)
|
|
|
|
|
|
|
|
|
|
|
|
Attributable
to:
|
|
|
|
|
|
|
|
|
|
|
Equity holders of the
Company
|
|
$ (13,294)
|
|
$(17,096)
|
|
$
(7,023)
|
|
$
(8,821)
|
|
$
(26,638)
|
Non-controlling
interests
|
|
(1,465)
|
|
(1,764)
|
|
(755)
|
|
(933)
|
|
(3,206)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ (14,759)
|
|
$(18,860)
|
|
$(7,778)
|
|
$(9,754)
|
|
$
(29,844)
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted
loss per share,
attributable to equity holders of
the Company
|
|
$
(0.32)
|
|
$(0.42)
|
|
$(0.17)
|
|
$(0.21)
|
|
$ (0.65)
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of
shares used in computing basic
and diluted loss per share
|
|
41,567,298
|
|
41,195,024
|
|
41,644,182
|
|
41,202,018
|
|
41,210,184
|
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
U.S.
dollars in thousands
|
|
Six months ended
June 30,
|
|
Three months ended
June 30,
|
|
Year ended
December31,
|
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
2022
|
|
|
Unaudited
|
|
Audited
|
Cash flows from
operating activities
|
|
|
|
|
|
|
|
|
|
|
Loss
|
|
$
(14,759)
|
|
$
(18,860)
|
|
$ (7,778)
|
|
$ (9,754)
|
|
$
(29,844)
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments to
reconcile loss to net
cash used in operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments to the
profit or loss items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation
|
|
807
|
|
717
|
|
406
|
|
371
|
|
1,513
|
Amortization of
intangible assets
|
|
481
|
|
577
|
|
241
|
|
242
|
|
1,067
|
Share-based
compensation
|
|
1,219
|
|
830
|
|
801
|
|
419
|
|
1,186
|
Revaluation of
convertible SAFE
|
|
220
|
|
-
|
|
26
|
|
-
|
|
114
|
Net financing
expenses
|
|
6
|
|
3,146
|
|
60
|
|
2,033
|
|
2,986
|
Loss from sale of
property, plant and equipment
|
|
(26)
|
|
-
|
|
-
|
|
-
|
|
-
|
Taxes on income (tax
benefit)
|
|
(24)
|
|
40
|
|
21
|
|
38
|
|
90
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,683
|
|
5,310
|
|
1,555
|
|
3,103
|
|
6,956
|
Changes in asset and
liability items:
|
|
|
|
|
|
|
|
|
|
|
Decrease (increase)
in trade receivables
|
|
170
|
|
170
|
|
72
|
|
55
|
|
(67)
|
Decrease in other
receivables
|
|
84
|
|
463
|
|
375
|
|
551
|
|
1,113
|
Decrease (increase)
in inventories
|
|
317
|
|
(70)
|
|
342
|
|
10
|
|
(474)
|
Increase in deferred
taxes
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(94)
|
Increase (decrease)
in trade payables
|
|
26
|
|
(172)
|
|
(95)
|
|
(6)
|
|
(469)
|
Increase (decrease)
in employees and payroll accruals
|
|
172
|
|
(278)
|
|
117
|
|
(272)
|
|
(675)
|
Increase (decrease)
in other payables
|
|
(162)
|
|
(593)
|
|
297
|
|
(147)
|
|
48
|
Decrease in deferred
revenues and other advances
|
|
(73)
|
|
(159)
|
|
(81)
|
|
(99)
|
|
(153)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
534
|
|
(639)
|
|
1,027
|
|
92
|
|
(771)
|
|
|
|
|
|
|
|
|
|
|
|
Cash received (paid)
during the period for:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
received
|
|
283
|
|
80
|
|
145
|
|
31
|
|
186
|
Interest
paid
|
|
(66)
|
|
(227)
|
|
(30)
|
|
(103)
|
|
(165)
|
Taxes paid
|
|
(10)
|
|
(29)
|
|
(10)
|
|
(27)
|
|
(40)
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in
operating activities
|
|
$
(11,335)
|
|
$
(14,365)
|
|
$ (5,091)
|
|
$ (6,658)
|
|
$
(23,678)
|
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
U.S.
dollars in thousands
|
|
Six months ended
June 30,
|
|
Three months ended
June 30,
|
|
Year ended
December 31,
|
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
2022
|
|
|
Unaudited
|
|
Audited
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of property,
plant and equipment
|
|
(483)
|
|
(747)
|
|
(124)
|
|
(305)
|
|
$
(1,171)
|
Proceeds from sale of
marketable securities
|
|
6,924
|
|
12,149
|
|
6,287
|
|
2,725
|
|
12,356
|
Purchase of
marketable securities
|
|
(503)
|
|
(659)
|
|
(503)
|
|
(659)
|
|
(911)
|
Proceeds from sale of
property, plant and equipment
|
|
26
|
|
-
|
|
-
|
|
-
|
|
-
|
Withdrawal from
(investment in) bank deposits
|
|
(13,560)
|
|
3,000
|
|
(13,560)
|
|
-
|
|
3,000
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) investing activities
|
|
$
(7,596)
|
|
$
13,743
|
|
$ (7,900)
|
|
$ 1,761
|
|
$ 13,274
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of a
subsidiary preferred shares to
non-controlling interests
|
|
9,523
|
|
-
|
|
9,523
|
|
-
|
|
-
|
Proceeds from
issuance of ordinary shares,
net of issuance expenses
|
|
336
|
|
-
|
|
68
|
|
-
|
|
21
|
Proceeds from
issuance of convertible SAFE
|
|
-
|
|
-
|
|
-
|
|
-
|
|
10,000
|
Proceeds from
exercise of options
|
|
-
|
|
7
|
|
-
|
|
-
|
|
7
|
Repayment of lease
liability
|
|
(413)
|
|
(492)
|
|
(207)
|
|
(369)
|
|
(803)
|
Proceeds from
government grants
|
|
1,089
|
|
30
|
|
1,063
|
|
-
|
|
149
|
Repayment of
government grants
|
|
(35)
|
|
(14)
|
|
-
|
|
-
|
|
(31)
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) financing activities
|
|
10,500
|
|
(469)
|
|
10,447
|
|
(369)
|
|
9,343
|
|
|
|
|
|
|
|
|
|
|
|
Exchange rate
differences - cash and cash
equivalent balances
|
|
(316)
|
|
(2,367)
|
|
(223)
|
|
(1,880)
|
|
(2,284)
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in cash and
cash equivalents
|
|
(8,747)
|
|
(3,458)
|
|
(2,767)
|
|
(7,146)
|
|
(3,345)
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents, beginning of the period
|
|
28,980
|
|
32,325
|
|
23,000
|
|
36,013
|
|
32,325
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents, end of the period
|
|
$
20,233
|
|
$
28,867
|
|
$
20,233
|
|
$ 28,867
|
|
$
28,980
|
|
|
|
|
|
|
|
|
|
|
|
Significant non-cash
activities
|
|
|
|
|
|
|
|
|
|
|
Acquisition of
property, plant and equipment
|
|
$
90
|
|
$
66
|
|
$
21
|
|
$
66
|
|
$
74
|
Increase of
right-of-use asset recognized
with corresponding lease liability
|
|
$
135
|
|
$
30
|
|
$
64
|
|
$
-
|
|
$
90
|
View original
content:https://www.prnewswire.com/news-releases/evogene-reports-second-quarter-2023-financial-results-301903567.html
SOURCE Evogene