Core Insights - Evogene Ltd. reported financial results for Q4 and full year 2024, highlighting significant revenue growth and a strategic focus on AI-powered drug discovery and subsidiary exit events [2][3][4]. Financial Performance - Total revenues for 2024 reached approximately $8.5 million, up from $5.6 million in 2023, driven by AgPlenus' collaboration with Bayer and increased seed sales from Casterra [4][11]. - Q4 2024 revenues were approximately $1.6 million, compared to $0.6 million in Q4 2023, primarily due to increased Casterra seed sales [4][11]. - R&D expenses for 2024 were approximately $16.6 million, down from $20.8 million in 2023, reflecting reduced activities in several subsidiaries [4][12]. - General and administrative expenses increased to approximately $7.4 million in 2024 from $6.1 million in 2023, influenced by one-time fundraising costs [4][16]. - The net loss for 2024 was approximately $18.1 million, a decrease from $26.0 million in 2023, attributed to higher revenues and lower R&D expenses [20]. Strategic Focus - The company plans to enhance its ChemPass AI tech-engine for drug discovery and expects to announce collaborations with biotech firms and academic institutions [3]. - Evogene aims to create exit events for its subsidiaries to inject funds into its operations, with a focus on strengthening Casterra's market position [3][5]. - The company has initiated an expense reduction plan, targeting a 30% reduction in headcount by the end of Q1 2025 [4][10]. Subsidiary Developments - Casterra Ag Ltd. is focused on large-scale castor bean farming solutions using GeneRator AI [6]. - Lavie Bio Ltd. develops microbiome-based bio-stimulants and bio-pesticides powered by MicroBoost AI [7]. - AgPlenus Ltd. specializes in sustainable crop protection products utilizing ChemPass AI [8]. - Biomica Ltd. is advancing microbiome-based therapeutics powered by MicroBoost AI [9]. Cash Position - As of December 31, 2024, Evogene held approximately $15.3 million in cash and equivalents, with cash usage in Q4 2024 at approximately $4.6 million [10][27].

Core Insights - Evogene Ltd. has appointed Mr. Nir Nimrodi as the new Chairperson of the Board, succeeding Ms. Sarit Firon, who will remain a Board member [1][2] - Mr. Nimrodi's extensive experience in scaling life sciences businesses positions him well to guide Evogene through its next growth phase [2][3] - The company aims to leverage advanced computational capabilities and AI to enhance drug discovery processes and create significant value for shareholders [3] Company Overview - Evogene Ltd. is a computational biology company focused on revolutionizing life-science product development through big data and artificial intelligence [4] - The company has established three unique tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, each targeting different core components for product development [5] Subsidiaries and Focus Areas - Evogene operates four subsidiaries: 1. Casterra Ag Ltd. focuses on high-yield castor seed varieties for biofuel and other industries [6] 2. Lavie Bio Ltd. develops microbiome-based ag-biologicals [6] 3. AgPlenus Ltd. works on next-generation ag chemicals for sustainable crop protection [6] 4. Biomica Ltd. is advancing microbiome-based therapeutics for human disorders [6]

Company Overview - Evogene Ltd. is a computational biology company focused on revolutionizing life-science product discovery and development through big data and artificial intelligence [3][4] - The company aims to increase the probability of success while reducing development time and costs in life-science-based products [3] Financial Results Announcement - Evogene will release its financial results for the fourth quarter of 2024 on March 6, 2025 [1] - A conference call to discuss these results is scheduled for the same day at 9:00 AM Eastern Time [2] Technology and Product Development - The company has established three unique tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, each targeting different core components: microbes, small molecules, and genetic elements respectively [4] - Evogene develops products through strategic partnerships and collaborations, leveraging its tech-engines [4] Subsidiaries - Evogene operates four subsidiaries focused on various applications of its technology: 1. Biomica Ltd. - developing microbiome-based therapeutics [5] 2. Lavie Bio Ltd. - advancing microbiome-based ag-biologicals [5] 3. AgPlenus Ltd. - developing next-generation ag chemicals for crop protection [5] 4. Casterra Ag Ltd. - marketing superior castor seed varieties for biofuel and other industries [5]

Industry Insights - Zymoseptoria tritici is a significant cause of wheat crop loss globally, with over 70% of fungicides in Europe targeting this fungus, representing a market exceeding 1.2 billion euros annually [1] - The increasing resistance of fungi to existing fungicides highlights the urgent need for new modes of action (MoA) in crop protection [1] Company Developments - AgPlenus has initiated a Zymoseptoria program using the TargetSelector™ tool to identify essential target proteins for the fungus, followed by the PointHit™ tool to discover chemical inhibitors [2] - Preliminary results from greenhouse trials indicate the efficacy of the identified molecules in managing Zymoseptoria, prompting the program to advance to the optimization phase using the ActiveSearch™ tool [3] - Dr. Dan Gelvan, CEO of AgPlenus, expressed optimism regarding the program's progress and the timely identification of novel targets amid rising fungicide resistance [4] - AgPlenus aims to develop innovative and sustainable crop protection solutions, leveraging predictive biology and artificial intelligence through its ChemPass AI tech-engine [5] Parent Company Overview - Evogene Ltd. is a computational biology company focused on life-science product development, utilizing advanced technologies to enhance success rates while reducing costs [6] - Evogene operates three tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, each targeting different components for product discovery [6] - The company collaborates with various subsidiaries to develop products across multiple sectors, including ag-biologicals and ag-chemicals [7]

Financial Performance - Total revenues for the first nine months of 2024 were approximately $6.9 million, an increase of 35.3% from approximately $5.1 million in the same period of 2023[11]. - Revenues for Q3 2024 were approximately $1.8 million, a decrease of 52.6% compared to approximately $3.8 million in Q3 2023, primarily due to a $2.5 million licensing fee recognized in Q3 2023[5]. - The net loss for the first nine months of 2024 was approximately $18.0 million, a slight improvement from a net loss of approximately $18.6 million in the same period of the previous year[60]. - The net loss for the third quarter of 2024 was approximately $8.2 million, compared to approximately $3.9 million in the same period of the previous year, indicating a $4.3 million increase in net loss due to decreased revenues and increased expenses[60]. - Gross profit for the nine months ended September 30, 2024, was $4,972,000, compared to $3,768,000 in the same period of 2023, indicating a gross profit margin improvement[78]. - The basic and diluted loss per share attributable to equity holders of the company for the nine months ended September 30, 2024, was $(3.17), compared to $(3.91) for the same period in 2023[78]. Expenses and Liabilities - General and administrative expenses for the first nine months of 2024 increased to approximately $6.1 million from approximately $4.8 million in the same period of 2023[30]. - Financing expenses, net for the first nine months of 2024 were approximately $0.38 million, compared to financing income of approximately $0.23 million in the same period of 2023[35]. - Operating loss for the first nine months of 2024 was approximately $17.6 million, a decrease from approximately $18.9 million in the same period of 2023[55]. - Research and development expenses for the first nine months of 2024 were approximately $13.2 million, a decrease from approximately $15.2 million in the same period of 2023[54]. - The total liabilities increased significantly to $23.3 million as of September 30, 2024, compared to $6.9 million at the end of 2023[66]. - The company incurred transaction costs and financial expenses of approximately $1.5 million related to warrants issued in a recent transaction[60]. Cash Flow and Assets - Cash usage during Q3 2024 was approximately $5.7 million, with projected cash usage for 2024 expected to be approximately $8.0 - $10.0 million, a decrease of 20% - 36% from approximately $12.5 million in 2023[53]. - Cash and cash equivalents decreased to $11.3 million as of September 30, 2024, down from $20.8 million at the end of 2023[66]. - Total current assets decreased to $25.4 million as of September 30, 2024, compared to $34.5 million at the end of 2023[66]. - The company reported cash used in operating activities of $14.5 million for the nine months ended September 30, 2024, compared to $15.7 million for the same period in 2023[68]. - The company reported a net cash provided by financing activities of $4,216,000 for the nine months ended September 30, 2024, compared to $18,299,000 in the same period of 2023[81]. Future Outlook and Strategic Initiatives - The company anticipates continued revenue growth in Q4 2024, mainly based on Casterra's forecast for seed-order supply[29]. - The company anticipates continued revenue growth for 2024, supported by ongoing investments in novel products and applications[74]. - The integration with Google Cloud is expected to enhance the company's capabilities and value proposition in the market[74]. - The company is focusing on enhancing its AI tech-engines and expanding its collaboration with Google Cloud to develop a generative AI foundation model for small molecule design[15]. - Evogene has established three tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, focusing on product development in microbiomes, small molecules, and genetic elements respectively[70]. - The company is advancing its subsidiaries, including Lavie Bio and Casterra Ag, to develop microbiome-based ag-biologicals and superior castor seed varieties[62]. Fundraising Activities - The company completed a fundraising totaling $5.5 million in gross proceeds in August 2024[7].

Conference call and webcast: today, November 21, 2024, 9:00 am ETFinancial Highlights: In the first nine months of 2024, total revenues reached approximately $6.9 million, compared to approximately $5.1 million in the first nine months of 2023. In Q3 2024, total revenues reached approximately $1.8 million, compared to approximately $3.8 million in Q3 2023. The revenues in Q3 2024 are mainly based on Casterra's seed sales. The revenues in Q3 2023 included a license fee payment of $2.5 million received by Lav ...

Industry Overview - Downy mildew is a significant foliar disease affecting grapes, causing yield losses of up to 75% in key growing regions [1] - The global fungicide market is valued at over $24.5 billion in 2024 and is projected to grow to $33.27 billion by 2028, with a compound annual growth rate (CAGR) of 7.9% [2] - There is a rising public interest in environmentally friendly farming practices and concerns about fungal resistance to chemical solutions, leading to a preference for ag-biologicals like LAV321 [1] Company Insights - Lavie Bio conducted field trials for LAV321 targeting downy mildew and late blight in tomatoes, achieving an average efficacy rate exceeding 60%, comparable to traditional copper products [2] - LAV321 was developed through Lavie Bio's Biology Driven Design (BDD) platform, utilizing Evogene's MicroBoost AI technology, aimed at enhancing productivity and sustainability in Integrated Pest Management (IPM) practices [3] - CEO Amit Noam expressed satisfaction with LAV321's performance, achieving a target efficacy of 70% against downy mildew and entering the pre-commercial stage with regulatory processes to begin [4] - Lavie Bio, a subsidiary of Evogene Ltd., focuses on improving food quality and agricultural productivity through microbiome-based ag-biological products [5] Technological Advancements - Evogene employs three unique tech-engines, including MicroBoost AI, to develop life-science based products, enhancing the probability of success while reducing development time and costs [6] - The tech-engines are utilized by Evogene's subsidiaries to develop various products, including ag-biologicals by Lavie Bio [7]

Yalos® is comprised of two novel microbes that together improve early vigor, biomass, root and shoot development, and nutrient availability. It aims to improve emergence and establishment and increase farm productivity through advanced biological technologies. Currently, Yalos® is sold in North America as a seed-treatment for spring and winter wheat, durum and barley, distributed in Canada by Winfield United and in the US directly by Lavie Bio. As of spring 2025, Lavie Bio intends Yalos® to be commercially ...

The collaboration has the power to foster breakthroughs in small molecule innovation for life science-based productsREHOVOT, Israel, Oct. 31, 2024 /PRNewswire/ -- Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a leading computational biology company aiming to revolutionize life-science-based product discovery and development, today announced a collaboration with Google Cloud to develop a cutting-edge foundation model for generative small molecule de novo design, propelling Evogene's ChemPass AI tech-engine to ne ...

This shipment of castor seeds, developed by Casterra and produced in Kenya, is the first to complete the entire cultivation and processing cycle in Kenya. The company is now focused on preparing upcoming shipments, which will be delivered to its customers over the coming months. Currently, approximately 700 additional hectares are sown with Casterra's premium varieties in Kenya, with harvest expected later this year and into early 2025. The castor seeds in this shipment were cultivated by experienced local ...