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 Data and Key Metrics Changes - Total revenues for the first nine months of 2024 reached approximately $6.9 million, up from approximately $5.1 million in the same period of 2023 [11] - Q3 2024 total revenues were approximately $1.8 million, down from approximately $3.8 million in Q3 2023, primarily due to a $2.5 million license fee payment received in Q3 2023 [11][46] - 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 [12][52] - Net loss for the first nine months of 2024 was approximately $18 million, compared to approximately $18.6 million in the same period of the previous year [54] Business Line Data and Key Metrics Changes - Casterra's revenues increased due to seed sales, with significant milestones achieved in seed production infrastructure in Kenya and Brazil [17][34] - Lavie Bio launched its first commercial product, Yalos, with initial sales in winter wheat and expected sales in soybean by spring 2025 [19][36] - AgPlenus initiated a new fungicide program targeting Septoria, with three protein targets confirmed and around 1,000 compounds identified for testing [21][40] Market Data and Key Metrics Changes - Casterra is positioned as a primary seed supplier in Africa, with discussions ongoing for future seed orders for 2025 [18][78] - Lavie Bio's expansion into soybean markets is expected to significantly increase sales potential, as soybean is a prime crop for bio-stimulants [73] Company Strategy and Development Direction - The company aims to position itself as a leader in developing life science products through advanced computational technologies and AI [22][23] - Strategic partnerships are being established to co-develop innovative products, enhancing revenue-sharing mechanisms [28][30] - The collaboration with Google Cloud aims to develop a generative AI model for small molecule design, expanding the training set from 6 million to 40 billion molecules [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for continued revenue growth in 2024, primarily driven by Casterra's seed supply [12][46] - The company is exploring additional business opportunities and has taken measures to strengthen its cash position, including a reduction in headcount [14][66] - Management highlighted the importance of resolving seed production issues in Africa to secure future orders and maintain competitive advantage [60][78] Other Important Information - The company completed a fundraising of $5.5 million in August 2024, which is expected to support ongoing operations [14] - Cash usage for 2024 is projected to be approximately $8 million to $10 million, a decrease from $12.5 million in 2023 [13][45] Q&A Session Summary Question: Why did the expected follow-on order for 2025 deliveries at Casterra not materialize? - Management indicated that internal discussions among partners are ongoing, which has delayed the final decision [56] Question: Have Casterra's delayed deliveries compromised its ability to secure a follow-on order? - Management reported that seed production issues have been resolved, and partners are satisfied with the current performance [60] Question: Is Evogene contributing any cash to the collaborations with Google and Ben-Gurion University? - Management confirmed that expenses for the collaboration with Ben-Gurion University are covered by a grant, while costs for the Google collaboration are part of the existing budget [63] Question: What is the current cash position at the parent company level? - As of September 30, 2024, the company had approximately $20 million in cash, with additional seed deliveries expected to enhance cash flow [66] Question: What are the sales expectations for Yalos in two years? - Management expressed optimism for significant sales growth, particularly in the soybean market, which is expected to contribute materially to revenues [73][76] Question: How should Casterra revenues be viewed in 2025? - Management indicated that 2025 is expected to show better performance than 2024, with resolved seed production issues enhancing capacity [78] Question: What is the current level of insider ownership in the company? - Management stated that a significant portion of compensation is based on equity, aligning management interests with those of shareholders [80]

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 ...

Following a successful first year, Israel Innovation Authority (IIA) approved financing second year of collaboration HAZEVA and REHOVOT, Israel, Oct. 8, 2024 /PRNewswire/ -- Watershed AC ("Watershed", formerly Colors Farm Ltd.), a cutting-edge company in sustainable aquaculture and biotech and Evogene Ltd. ("Evogene") (NASDAQ: EVGN)(TASE: EVGN), a leading computational biology company aiming to revolutionize lifescience-based product discovery and development, together with Ben-Gurion University (BGU), a re ...