Conference call and webcast: today, November 15, 2023, 9:00 am
ET
REHOVOT, Israel, Nov. 15, 2023 /PRNewswire/ -- Evogene Ltd.
(Nasdaq: EVGN) (TASE: EVGN), a leading computational biology
company aiming to revolutionize the development of
life-science-based products utilizing cutting-edge computational
biology technologies across multiple market segments, today
announced its financial results for the third quarter period ended
September 30, 2023.
Mr. Ofer Haviv,
Evogene's President and Chief Executive Officer, stated:
"The events in Israel since
October 7, 2023, have brought about
significant changes to our nation; we find ourselves at a time of
profound reflection. Our hearts go out to all those directly and
indirectly impacted by these evil acts. I want to emphasize that
these hardships only deepen our resolve to succeed and thrive.
Despite these challenges, Evogene and our subsidiaries continue to
operate, unwavering in our commitment to innovation and progress.
Our strategic focus remains steady, and our dedicated team works
tirelessly to achieve our objectives for 2023 and set the course
for 2024.
In these uncertain times, it's crucial to underscore the
financial stability of the Evogene Group. As of the end of the
third quarter, the group had a consolidated cash position of
approximately $37.2 million, with
contributions from Lavie Bio -
$7.1 million, Biomica - $14.6 million, and Evogene (together with
Casterra, AgPlenus, and Canonic) - $15.5
million. It's important to note that this figure doesn't
include any amount due to the purchase orders received by Casterra
in the last few months and that Lavie
Bio's cash balance is set to increase by an additional
$2.5 million in January 2024 as part of a commercial agreement
with Corteva.
Furthermore, we anticipate additional orders for Casterra's
castor seeds and new collaborations to generate cash flow for the
group, further enhancing our financial stability.
"Mr. Haviv continued: "As previously stated, this
year we invested in establishing collaborations directly between
Evogene and industry leaders, aiming to leverage our AI
tech-engines for product development. We are very excited with the
initial fruits of these efforts, as demonstrated by the recently
reported collaboration with Colors Farm and Ben Gurion University - to pioneer crustacean gene
editing technology aiming to enhance crustacean traits. The
collaboration is powered by a grant from the Israel Innovation
Authority and will utilize Evogene's GeneRator AI
tech-engine."
Mr. Haviv added: "We are very proud of the achievements
of our subsidiaries in the last few months. I want to emphasize
that as part of their competitive advantage, all the subsidiaries
use Evogene's AI tech-engines, under exclusive license, to direct
and accelerate their product development."
Biomica Ltd. - develops microbiome-based therapeutics,
leveraging Evogene's MicroBoost AI tech-engine.
- Biomica's leading product candidate, BMC128, for treating
cancer patients, is now in a phase 1 clinical trial. The trial is
conducted in Israel and started at
the Rambam Health Care Campus. It aims to evaluate BMC128's safety
and tolerability alongside Bristol Myers Squibb's Opdivo®
immunotherapy. In August, Biomica opened a second site at The
Davidoff Cancer Center to allow the recruitment of additional
potential patients. The trial is planned to include 10-12 patients;
currently, 7 have enrolled.
- Biomica is advancing in preparing for a pre-IND meeting for
BMC128, expected to occur in the first quarter of 2024.
Lavie Bio Ltd. - develops and commercializes
microbiome-based ag-biological products, utilizing
Evogene's MicroBoost AI tech-engine.
- In July, Lavie Bio announced a
licensing agreement with Corteva. The agreement grants Corteva
exclusive rights to develop further and commercialize two of
Lavie Bio's lead bio-fungicide
product candidates - LAV311 and LAV312 - targeting fruit-rots.
Lavie Bio is entitled to an initial
payment of approximately $5 million
in 2 installments: the first payment of $2.5
million was received in September
2023, and the second payment is expected in the first
quarter of 2024. It will also be eligible for additional future
milestone payments and royalties from Corteva's sales of these
future products.
- Last week, Lavie Bio announced a significant progress in
its bio-fungicide program with LAV321, designed to combat downy
mildew and late blight diseases. Field trials conducted in 2023
across Europe and the United States have yielded impressive
results, establishing LAV321 as a potent solution against fungal
diseases. Next year, LAV321 is expected to be tested in field
trials by several multinational companies, for some of which it
will be the second year of validation.
AgPlenus Ltd. - aims to develop and commercialize
next-generation crop protection products, utilizing
Evogene's ChemPass AI tech-engine.
- As previously disclosed, there is a growing interest in
AgPlenus' lead target protein APTH1 and the small molecules that
bind to this protein as candidates for a novel herbicide with a
broad weed control spectrum. AgPlenus expects this interest to lead
to a collaboration with a leading industry player.
Casterra Ag Ltd. - provides an integrated end-to-end
solution for large-scale castor bean cultivation, utilizing
Evogene's GeneRator AI tech-engine.
- In September, Casterra delivered its first shipment of
high-yield, high-oil castor seeds from Brazil and Zambia to an African region, generating
recognized revenue of approximately $0.9
million in this quarter.
- In recent months, Casterra made substantial steps in expanding
its overseas seed production capabilities through subcontractors.
As the complexity of this operation is high, it requires additional
resources and extensive physical attendance of Casterra's
professionals at the production sites overseas. Casterra is
currently investing efforts in expanding its workforce to support
this operation and, in parallel, looking for additional seed
production subcontractors to manage risks.
Canonic Ltd. - provides tailored medical cannabis
products to optimize consumer well-being, utilizing Evogene's
GeneRator AI tech-engine.
- The Israeli medical cannabis market is characterized by a vast
spectrum of products, either grown locall or imported. Capturing
the patients' attention is challenging, leading to prices dropping
even for premium products. To address this challenge, Canonic is
focusing its marketing efforts on the frequent launching of new
products in limited batches. During the third quarter, Canonic
launched two new products, Tango and Two Aces, and this week, an
additional product, SouthSide, was launched.
- During the last quarter, Canonic engaged with a new Israeli
cultivator, EverGreen; four elite strains are currently being
cultivated.
Mr. Haviv concluded: "All the subsidiaries are advancing
their business targets, and as a shareholder, Evogene is very proud
of this progress. Looking forward, when evaluating the needs of our
wholly owned subsidiaries and their commercial potential, we intend
to invest more efforts and resources in Casterra - since we see
significant potential in the bio-diesel market, which castor oil
can support, while reducing our investment in Canonic - due to the
challenging market conditions of the medical cannabis sector."
Key Financial Highlights:
As of September 30, 2023, Evogene
had consolidated cash, cash equivalents, and short-term bank
deposits amounted to approximately $37.2
million. This included $14.6
million for Biomica, $7.1
million for Lavie Bio, and
$15.5 million collectively for
Evogene, Casterra, Canonic, and AgPlenus. The injection of funds
from the last round of investment in July strengthens Evogene's
financial position and provides it with the resources needed to
execute future plans effectively.
The $15.5 million reflected in the
cash balance of Evogene, together with Casterra, Canonic, and
AgPlenus, does not include any amount due to the purchase orders
received by Casterra in the last few months, which were partially
supplied during the third quarter of 2023, and the $7.1 million reflected in the cash balance of
Lavie Bio does not include the
$2.5 million, which represents the
second half of the upfront payment from the licensing agreement
with Corteva, that is expected to be received at the beginning of
2024.
During the third quarter, the consolidated cash usage was
approximately $4.8 million or
approximately $3.2 million,
excluding Lavie Bio, Biomica, and
$1.2 million of advanced payments to
Casterra's subcontractors for castor seed production.
Financial Performance:
Revenues for the third quarter of 2023 were approximately
$3.8 million compared to
approximately $0.5 million in the
same period the previous year. The revenue increase was primarily
due to revenues recognized by Lavie
Bio per the licensing agreement with Corteva and due to
revenues recognized by Casterra for the supply of castor seeds
during the third quarter of 2023.
R&D expenses for the third quarter of 2023, which are
reported net of non-refundable grants received, were approximately
$5.1 million and remained stable
compared to approximately $5.0
million in the same period in the previous year.
Sales and marketing expenses were approximately
$850 thousand for the third quarter
of 2023 and slightly decreased as compared to approximately
$895 thousand in the same period the
previous year. The main contributor to this expense decrease was a
reduction in personnel expenses at Canonic.
General and administrative expenses were approximately
$1.5 million in the third quarter of
2023 and remained stable compared to approximately $1.6 million in the same period in the previous
year.
Operating loss for the third quarter of 2023 was
approximately $4.2 million compared
to an operating loss of approximately $7.1
million in the same period in the previous year. The
decrease in operating loss is mainly due to the increased revenues
mentioned above.
Financing income net for the third quarter of 2023 was
approximately $320 thousand compared
to the financing expenses net of approximately $61 thousand in the same period in the previous
year. This difference was mainly due to an increase in interest
income during the third quarter of 2023 compared to the same period
in the previous year.
Net loss for the third quarter of 2023 was approximately
$3.9 million compared to a net loss
of approximately $7.2 million in the
same period in the previous year. The decrease in the net loss is
mainly due to the increased revenues recognized in the third
quarter of 2023.
CONSOLIDATED INTERIM
STATEMENTS OF FINANCIAL POSITION
|
U.S. dollars in
thousands
|
|
|
|
September 30,
2023
|
|
December 31,
2022
|
|
|
Unaudited
|
|
Audited
|
CURRENT
ASSETS:
|
|
|
|
|
Cash and cash
equivalents
|
|
$
27,331
|
|
$
28,980
|
Marketable
securities
|
|
-
|
|
6,375
|
Short-term bank
deposits
|
|
9,896
|
|
-
|
Trade
receivables
|
|
1,345
|
|
348
|
Other receivables and
prepaid expenses
|
|
1,870
|
|
1,482
|
Inventories
|
|
113
|
|
566
|
|
|
|
|
|
|
|
40,555
|
|
37,751
|
LONG-TERM
ASSETS:
|
|
|
|
|
Other
receivables
|
|
106
|
|
74
|
Deferred
taxes
|
|
10
|
|
94
|
Right-of-use-assets
|
|
1,126
|
|
1,568
|
Property, plant and
equipment, net
|
|
2,535
|
|
2,499
|
Intangible assets,
net
|
|
13,414
|
|
14,140
|
|
|
|
|
|
|
|
17,191
|
|
18,375
|
|
|
|
|
|
|
|
$
57,746
|
|
$
56,126
|
CURRENT
LIABILITIES:
|
|
|
|
|
Trade
payables
|
|
$
1,176
|
|
$
1,036
|
Employees and payroll
accruals
|
|
2,059
|
|
1,987
|
Lease
liability
|
|
854
|
|
884
|
Liabilities in
respect of government grants
|
|
634
|
|
79
|
Deferred revenues and
other advances
|
|
739
|
|
22
|
Other
payables
|
|
1,022
|
|
1,617
|
|
|
|
|
|
|
|
6,484
|
|
5,625
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
Lease
liability
|
|
387
|
|
932
|
Liabilities in
respect of government grants
|
|
4,227
|
|
4,665
|
Other
advances
|
|
494
|
|
-
|
Convertible
SAFE
|
|
10,291
|
|
10,114
|
|
|
|
|
|
|
|
15,399
|
|
15,711
|
SHAREHOLDERS'
EQUITY:
|
|
|
|
|
Ordinary shares of
NIS 0.02 par value:
Authorized −
150,000,000 ordinary shares; Issued
and outstanding – 50,549,812 shares as of
September 30, 2023 and 41,260,439 shares as of
December 31, 2022
|
|
286
|
|
235
|
Share premium and
other capital reserve
|
|
269,209
|
|
261,402
|
Accumulated
deficit
|
|
(250,985)
|
|
(233,707)
|
|
|
|
|
|
Equity attributable
to equity holders of the Company
|
|
18,510
|
|
27,930
|
|
|
|
|
|
Non-controlling
interests
|
|
17,353
|
|
6,860
|
|
|
|
|
|
Total
equity
|
|
35,863
|
|
34,790
|
|
|
|
|
|
|
|
$
57,746
|
|
$
56,126
|
|
|
|
|
|
CONSOLIDATED
INRERIM STATEMENTS OF PROFIT OR LOSS
|
U.S. dollars in
thousands (except share and per share
amounts)
|
|
|
|
Nine months
ended September
30,
|
|
Three months
ended September
30,
|
|
Year ended
December 31,
|
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
2022
|
|
|
Unaudited
|
|
Audited
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$ 5,062
|
|
$ 1,015
|
|
$ 3,767
|
|
$
466
|
|
$
1,675
|
Cost of
revenues
|
|
1,294
|
|
545
|
|
511
|
|
120
|
|
909
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
3,768
|
|
470
|
|
3,256
|
|
346
|
|
766
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses
(income):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development, net
|
|
15,232
|
|
16,039
|
|
5,063
|
|
4,996
|
|
20,792
|
Sales and
marketing
|
|
2,578
|
|
2,765
|
|
850
|
|
895
|
|
3,933
|
General and
administrative
|
|
4,838
|
|
4,825
|
|
1,526
|
|
1,552
|
|
6,482
|
Other
income
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(3,500)
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses, net
|
|
22,648
|
|
23,629
|
|
7,439
|
|
7,443
|
|
27,707
|
|
|
|
|
|
|
|
|
|
|
|
Operating
loss
|
|
(18,880)
|
|
(23,159)
|
|
(4,183)
|
|
(7,097)
|
|
(26,941)
|
|
|
|
|
|
|
|
|
|
|
|
Financing
income
|
|
1,128
|
|
679
|
|
429
|
|
194
|
|
516
|
Financing
expenses
|
|
(894)
|
|
(3,498)
|
|
(109)
|
|
(255)
|
|
(3,329)
|
|
|
|
|
|
|
|
|
|
|
|
Financing income
(expenses), net
|
|
234
|
|
(2,819)
|
|
320
|
|
(61)
|
|
(2,813)
|
|
|
|
|
|
|
|
|
|
|
|
Loss before taxes on
income
|
|
(18,646)
|
|
(25,978)
|
|
(3,863)
|
|
(7,158)
|
|
(29,754)
|
Taxes on income (tax
benefit)
|
|
(29)
|
|
45
|
|
(5)
|
|
5
|
|
90
|
|
|
|
|
|
|
|
|
|
|
|
Loss
|
|
$
(18,617)
|
|
$
(26,023)
|
|
$
(3,858)
|
|
$
(7,163)
|
|
$
(29,844)
|
|
|
|
|
|
|
|
|
|
|
|
Attributable
to:
|
|
|
|
|
|
|
|
|
|
|
Equity holders of the
Company
|
|
(17,278)
|
|
(23,640)
|
|
(3,984)
|
|
(6,544)
|
|
(26,638)
|
Non-controlling
interests
|
|
(1,339)
|
|
(2,383)
|
|
126
|
|
(619)
|
|
(3,206)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
(18,617)
|
|
$
(26,023)
|
|
$
(3,858)
|
|
$
(7,163)
|
|
$
(29,844)
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted loss
per share,
attributable to equity
holders of the
Company
|
|
$ (0.39)
|
|
$ (0.57)
|
|
$
(0.08)
|
|
$ (0.16)
|
|
$
(0.65)
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares
used in computing
basic and diluted
loss per
share
|
|
44,028,642
|
|
41,202,049
|
|
48,922,553
|
|
41,215,944
|
|
41,210,184
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED
INTERIM STATEMENTS OF CASH FLOWS
|
U.S. dollars in
thousands
|
|
|
|
Nine months
ended September
30,
|
|
Three months
ended September
30,
|
|
Year ended
December 31,
|
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
2022
|
|
|
Unaudited
|
|
Audited
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss
|
|
$
(18,617)
|
|
$
(26,023)
|
|
$
(3,858)
|
|
$
(7,163)
|
|
$
(29,844)
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments to
reconcile loss to net cash
used in operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments to the
profit or loss items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation
|
|
1,223
|
|
1,117
|
|
416
|
|
400
|
|
1,513
|
Amortization of
intangible assets
|
|
726
|
|
822
|
|
245
|
|
245
|
|
1,067
|
Share-based
compensation
|
|
1,764
|
|
895
|
|
545
|
|
65
|
|
1,186
|
Increase (decrease)
in convertible SAFE
|
|
177
|
|
-
|
|
(43)
|
|
-
|
|
114
|
Net financing
expenses (income)
|
|
(206)
|
|
3,128
|
|
(212)
|
|
(11)
|
|
2,979
|
Decrease in accrued
bank interest
|
|
-
|
|
7
|
|
-
|
|
-
|
|
7
|
Gain from sale of
property, plant and
equipment
|
|
(26)
|
|
-
|
|
-
|
|
-
|
|
-
|
Taxes on income (tax
benefit)
|
|
(29)
|
|
45
|
|
(5)
|
|
5
|
|
90
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,629
|
|
6,014
|
|
946
|
|
704
|
|
6,956
|
Changes in asset and
liability items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in trade
receivables
|
|
(997)
|
|
(171)
|
|
(1,167)
|
|
(341)
|
|
(67)
|
Decrease (increase)
in other receivables
|
|
(420)
|
|
443
|
|
(504)
|
|
(20)
|
|
1,113
|
Decrease (increase)
in inventories
|
|
453
|
|
(73)
|
|
136
|
|
(3)
|
|
(474)
|
Increase in deferred
taxes
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(94)
|
Increase (decrease)
in trade payables
|
|
179
|
|
(600)
|
|
153
|
|
(428)
|
|
(469)
|
Increase (decrease)
in employees and payroll accruals
|
|
72
|
|
(338)
|
|
(100)
|
|
(60)
|
|
(675)
|
Increase (decrease)
in other payables
|
|
(467)
|
|
(586)
|
|
(305)
|
|
7
|
|
48
|
Increase (decrease)
in deferred revenues
and other
advances
|
|
190
|
|
185
|
|
263
|
|
344
|
|
(153)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(990)
|
|
(1,140)
|
|
(1,524)
|
|
(501)
|
|
(771)
|
|
|
|
|
|
|
|
|
|
|
|
Cash received (paid)
during the period for:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
received
|
|
433
|
|
118
|
|
150
|
|
38
|
|
186
|
Interest
paid
|
|
(92)
|
|
(356)
|
|
(26)
|
|
(129)
|
|
(165)
|
Tax paid
|
|
(15)
|
|
(34)
|
|
(5)
|
|
(5)
|
|
(40)
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in
operating activities
|
|
$
(15,652)
|
|
$
(21,421)
|
|
$
(4,317)
|
|
$ (7,056)
|
|
$
(23,678)
|
CONSOLIDATED
INTERIM STATEMENTS OF CASH FLOWS
|
|
|
|
|
Nine months
ended September
30,
|
|
Three months
ended September
30,
|
|
Year ended
December 31,
|
|
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
2022
|
|
|
|
Unaudited
|
|
Audited
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of property,
plant and equipment
|
|
$
(699)
|
|
$ (972)
|
|
$
(216)
|
|
$
(225)
|
|
$ (1,171)
|
|
Proceeds from sale of
marketable securities
|
|
6,924
|
|
12,352
|
|
-
|
|
203
|
|
12,356
|
|
Purchase of
marketable securities
|
|
(503)
|
|
(659)
|
|
-
|
|
-
|
|
(911)
|
|
Proceeds from sale of
property, plant and
aquipment
|
|
26
|
|
-
|
|
-
|
|
-
|
|
-
|
|
Withdrawal from
(investment in) bank
deposits
|
|
(9,700)
|
|
3,000
|
|
3,860
|
|
-
|
|
3,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) investing
activities
|
|
(3,952)
|
|
13,721
|
|
3,644
|
|
(22)
|
|
13,274
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of a
subsidiary preferred shares to
non-controlling
interests
|
|
9,523
|
|
-
|
|
-
|
|
-
|
|
-
|
|
Proceeds from
issuance of ordinary shares,
net of issuance expenses
|
|
8,404
|
|
-
|
|
8,068
|
|
-
|
|
21
|
|
Proceeds from
issuance of convertible SAFE
|
|
-
|
|
10,000
|
|
-
|
|
10,000
|
|
10,000
|
|
Proceeds from
exercise of options
|
|
-
|
|
7
|
|
-
|
|
-
|
|
7
|
|
Repayment of lease
liability
|
|
(624)
|
|
(366)
|
|
(211)
|
|
126
|
|
(803)
|
|
Proceeds from
government grants
|
|
1,069
|
|
89
|
|
(20)
|
|
59
|
|
149
|
|
Repayment of
government grants
|
|
(73)
|
|
(31)
|
|
(38)
|
|
(17)
|
|
(31)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
financing activities
|
|
18,299
|
|
9,699
|
|
7,799
|
|
10,168
|
|
9,343
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange rate
differences - cash and cash
equivalent
balances
|
|
(344)
|
|
(2,464)
|
|
(28)
|
|
(97)
|
|
(2,284)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (decrease)
in cash and cash
equivalents
|
|
(1,649)
|
|
(465)
|
|
7,098
|
|
2,993
|
|
(3,345)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents, beginning of the
period
|
|
28,980
|
|
32,325
|
|
20,233
|
|
28,867
|
|
32,325
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents, end of the period
|
|
$
27,331
|
|
$
31,860
|
|
$
27,331
|
|
$
31,860
|
|
$
28,980
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Significant non-cash
activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisition of
property, plant and
equipment, net
|
|
$
35
|
|
$ 146
|
|
$ 35
|
|
$
80
|
|
$
74
|
|
Increase (decrease)
of right-of-use asset
recognized with corresponding lease liability
|
|
$ 135
|
|
$
19
|
|
$
-
|
|
$ (11)
|
|
$
90
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the financial tables click here.
For an accessible file click here.
Conference Call & Webcast Details:
Date: Nov 15, 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://evogene.com/investor-relations/
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 they discuss
the additional orders for Casterra's castor seeds and new
collaborations to generate cash flow for the group, Biomica
advances in preparing for a pre-IND meeting for BMC128, expected
tests of LAV321 in field trials by several multinational companies,
and Casterra's ability to mitigate production risks and to retain
additional seed production subcontractors. 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, the current war between Israel and Hamas and any worsening of the
situation in Israel such as
further mobilizations or escalation in the northern border of
Israel, and 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.
Evogene Investors' Contact:
Rachel Pomerantz Gerber, Head of
Investor Relations at Evogene
Email: rachel.pomerantz@evogene.com
Tel: +972-8-9311901
Logo -
https://mma.prnewswire.com/media/1947468/Evogene_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/evogene-reports-third-quarter-2023-financial-results-301988969.html
SOURCE Evogene