REHOVOT, Israel, Aug. 23, 2024 /PRNewswire/ -- Evogene Ltd. ("Evogene" or the "Company") (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, announced today that it has entered into definitive agreements with a single health-care focused institutional investor for the purchase and sale of 1,692,308 ordinary shares (or ordinary ...

Financial Data and Key Metrics - Total revenues for the first six months of 2024 reached approximately $5.1 million, compared to $1.3 million in the first half of 2023, driven by Casterra's seed supply and Lavie Bio's licensing agreement [6][29] - Q2 2024 revenues were approximately $914,000, up from $654,000 in Q2 2023, primarily due to increased revenues from Lavie Bio [7][30] - Net loss for the first half of 2024 was approximately $9.8 million, a significant improvement from $14.8 million in the same period last year, driven by increased revenues and decreased operating expenses [7][34] - Projected cash usage for 2024, excluding Biomica and Lavie Bio, is approximately $8 million, a 36% decrease from $12.5 million in 2023 [7][29] Business Line Performance - **Casterra**: Received an additional purchase order of $440,000 for castor seeds, with total existing orders amounting to $8.4 million expected to be fulfilled by the end of 2024 [8][14] - **Biomica**: Preliminary Phase 1 trial results for BMC128 showed promising efficacy and safety in treating refractory cancers, with data presented at ASCO 2024 [9][16] - **Lavie Bio**: Expanded its bio-inoculant product Yalos to winter wheat, doubling its market potential, and identified over a dozen novel microbial candidates using its BDD technology platform [9][15] Market and Strategic Direction - The global castor oil market is projected to reach $1.68 billion by 2028, driven by increasing demand for sustainable and renewable resources in bio-based industries [20][22] - Casterra aims to establish itself as a leading provider of sustainable vegetable oil feedstock, particularly for the biofuel sector, leveraging its elite castor seed varieties and advanced cultivation techniques [18][21] - Evogene's AI-driven tech-engines (MicroBoost AI, ChemPass AI, GeneRator AI) are designed to optimize life science product development across various market segments, focusing on efficiency and cost-effectiveness [10][11] Management Commentary on Future Prospects - Management anticipates continued revenue growth in the second half of 2024, driven by Casterra's seed supply and Lavie Bio's product expansion [6][30] - The company is exploring the potential to expand into castor oil production, which could further enhance its market position and revenue streams [27][28] - Evogene's subsidiaries are advancing their pipelines, with significant milestones expected in Q4 2024, particularly in Lavie Bio's field trials and Biomica's clinical development [15][17] Q&A Session Summary Question: What is Casterra's current backlog for 2025, and will oil production be based in Africa or Brazil? - Casterra is working on its 2025 backlog, with details expected in the next analyst call. Oil production is under evaluation, with potential locations in both Africa and Brazil [35][36] Question: Can you provide an update on AgPlenus? - AgPlenus is focused on building a new pipeline, particularly in fungicides, and is collaborating with Bayer and Corteva. Updates are expected in the next quarter [37][38] Question: What is the trajectory of Casterra's castor seed launch in 2H 2024, and what is the current gross margin profile? - Casterra aims to fulfill $8.4 million in seed orders by the end of 2024, with a current production capacity of over 1,000 hectares. Gross margins are high, particularly in seed sales, with potential for further improvement in oil production [40][42] Question: When should we expect material revenue contribution from Yalos? - Yalos is expected to see material growth in sales by 2026, with early adoption in soybean and canola markets starting in 2025 [43][44] Question: What is Evogene's expected cash position by the end of 2024? - Assuming $8.4 million in castor seed revenues, Evogene's cash position is expected to be around $18-19 million by the end of 2024 [46][47]

Conference call and webcast: today, August 22, 2024, 9:00 am ET Financial and Business Highlights: H1 2024 revenues $5.1M, up from $1.3M in H1 2023; Q2 2024 revenues $914K, up from $654K in Q2 2023. Anticipated continued revenue growth in the second half of 2024 compared to the same period in the previous year, primarily driven by Casterra's initiation of supplying existing seed orders, which began in August 2024 and total over $8.0 million. H1 2024 loss $9.8M, down from $14.8M in H1 2023; Q2 2024 loss $6.0 ...

Core Points - Evogene Ltd. has regained compliance with Nasdaq Listing Rule 5550(a)(2) after its ordinary shares maintained a minimum bid price of $1.00 for 10 consecutive business days [1][2] - The compliance issue regarding the bid price deficiency is now considered closed by Nasdaq [2] Company Overview - Evogene Ltd. is a computational biology company that utilizes big data and artificial intelligence to enhance the development of life-science products, aiming to increase success rates while reducing time and costs [3] - The company has established three unique tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, each focusing on different core components such as microbes, small molecules, and genetic elements [4] - Evogene operates through five subsidiaries, including Biomica Ltd., Lavie Bio Ltd., AgPlenus Ltd., and Casterra Ag Ltd., which are involved in developing microbiome-based therapeutics, ag-biologicals, next-generation ag chemicals, and superior castor seed varieties respectively [4]

Core Insights - Evogene Ltd. will release its financial results for Q2 2024 on August 22, 2024, followed by a conference call at 9:00 AM ET [1] - The company focuses on leveraging big data and artificial intelligence to enhance life-science product development [2] Company Overview - Evogene Ltd. is a computational biology company aiming to revolutionize life-science product discovery and development through advanced technologies [2] - The company has established three unique tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, each targeting different core components for product development [3] Subsidiaries and Focus Areas - Biomica Ltd. focuses on microbiome-based therapeutics for human disorders using MicroBoost AI [3] - Lavie Bio Ltd. develops microbiome-based ag-biologicals, also powered by MicroBoost AI [3] - AgPlenus Ltd. is dedicated to next-generation agricultural chemicals for sustainable crop protection using ChemPass AI [3] - Casterra Ag Ltd. markets high-yield castor seed varieties for biofuel and other industries, utilizing GeneRator AI [3]

Mr. Yoash Zohar, CEO of Casterra states: "Current castor yields from the harvest in Brazil show an impressive improvement in our production capabilities. I am very proud of our professional team, which in past months invested, and keeps investing, time and efforts working closely with our subcontractors to ensure the best agricultural practices and crop performance, to produce Casterra's high quality castor seeds. We also expect to see such positive performance in our African territories where the majority ...

Company Overview - Evogene Ltd. is a computational biology company focused on revolutionizing life-science-based product development through big data and artificial intelligence, aiming to enhance success rates while reducing development time and costs [3][10] - The company operates through five subsidiaries, each leveraging unique tech engines for product development [4][5] Reverse Share Split - A reverse share split at a ratio of 1-for-10 was approved by shareholders and is set to be implemented after market close on July 24, 2024 [10] - Post-split, the number of issued and outstanding Ordinary Shares will decrease from approximately 50,790,000 to about 5,079,000 [4][10] - The company's registered share capital will remain at NIS 3,000,000 but will be divided into 15,000,000 Ordinary Shares with a par value of NIS 0.2 each [4][10] Shareholder Impact - No fractional Ordinary Shares will be issued; fractional shares will be rounded to the nearest whole share, with no cash payments for fractional shares [2] - Proportionate adjustments will be made to the number of shares issuable upon the exercise of outstanding options and Restricted Share Units (RSUs) [2]

Industry Overview - Winter wheat is a crucial crop in North America and globally, contributing significantly to the agricultural economy and food supply, with the US expected to produce about 1.28 billion bushels in 2024, valued between $5-$10 billion annually [1][7] - The US soybean market size is estimated at approximately $56.2 billion in 2024, indicating substantial market potential for agricultural innovations [2] Company Overview - Lavie Bio is focused on enhancing crop productivity and sustainability through its product Yalos™, which has shown improved early vigor, biomass, root and shoot development, nutrient availability, and feed quality in winter wheat during field trials [7][8] - The company aims to expand Yalos™ into other key crops, such as soybean and canola, with ongoing field trials and an expected commercial launch in 2025 [2][8] - Lavie Bio utilizes a proprietary computational predictive platform, the BDD platform, powered by Evogene's MicroBoost AI technology, to discover and develop bio-stimulant and bio-pesticide products [8][9] Strategic Goals - Lavie Bio's strategy includes consistently introducing innovative ag-biological products to the market while expanding existing products to more crops and regions, reinforcing its commitment to advancing agricultural productivity and sustainability globally [8] - The company aims for Yalos™ to become a leading solution for growers in all major field crops, addressing key growth challenges and enhancing plant health and yield [8]

Company Overview - Casterra, a wholly owned subsidiary of Evogene, specializes in developing castor seed varieties for bio-based industrial applications, including biofuels and biopolymers [4] - The company utilizes advanced breeding methods and Evogene's GeneRator AI tech-engine to enhance plant genomics and enable sustainable production of castor beans [4][6] Recent Developments - Casterra has received an additional order for castor seeds, reflecting confidence in its capabilities and products, with expectations to complete the order by Q4 2024 [1] - The company anticipates recognizing approximately $8.4 million in revenue from castor seed orders in the second half of 2024, due to a price adjustment related to late deliveries [1] Market Insights - The global biodiesel market was valued at $36.48 billion in 2022 and is projected to reach around $79.12 billion by 2032, growing at a CAGR of 8.1% from 2023 to 2032 [2] - Biofuels, including castor oil, are gaining traction as renewable and biodegradable alternatives to conventional fuels, with castor oil being compliant with stringent European regulations [2][3] Product Characteristics - Casterra's high oil-yielding castor varieties are designed for large-scale farming on marginal soils in semi-arid conditions, positioning them as a sustainable feedstock for the biofuel industry without competing with food crops [3]

Title: Preliminary results from a First-in-Human (FIH), open-label Phase 1 study with BMC128, a rationally designed live bacterial consortium, in combination with nivolumab. Session Type: Poster Session Abstract Number: 8631 Date and Time: June 3, 2024, 1:30 PM – 4:30 PM (CDT) Key observations from the study include: With these encouraging early results, it is important to note that the study remains ongoing. Further data will become available and analyzed through the next few months to gain a deeper unders ...