Evogene Reports Second Quarter 2025 Financial Results

Core Insights - Evogene Ltd. is undergoing a transformative phase focused on its ChemPass AI platform for AI-driven discovery and optimization of small molecules, targeting the pharmaceutical and agricultural markets [3][11]. Financial Performance - For the first half of 2025, total revenues were approximately $3.2 million, up from $2.3 million in the same period of 2024, primarily due to increased seed sales from Casterra [8][15]. - Total operating expenses for the first half of 2025 were approximately $7.7 million, a decrease from $11.1 million in the first half of 2024, attributed to reduced activities in subsidiaries [8][20]. - The net loss for the first half of 2025 was approximately $7.7 million, compared to $9.8 million in the same period last year, reflecting decreased operating expenses and increased financing income [8][23]. Strategic Developments - The company launched version 1.0 of its generative AI foundation model in partnership with Google Cloud, trained on a dataset of approximately 38 billion molecular structures [5]. - A collaboration with Tel Aviv University was announced to discover small molecule therapeutics for metabolic diseases, marking the start of a broader pharmaceutical ecosystem [6]. - Evogene is integrating AgPlenus' activities into its operations, which includes a 40% workforce reduction at AgPlenus to enhance operational efficiency [7]. Cash Position and Financing - As of June 30, 2025, Evogene had a cash balance of approximately $11.7 million, with cash usage during the second quarter of 2025 at approximately $2.4 million [12]. - The company raised $4.4 million through its existing at-the-market facility in June 2025, reflecting strong market confidence [10]. Operational Focus - The company is streamlining operations and focusing on enhancing ChemPass AI as its core engine, expanding strategic collaborations in pharmaceuticals, and optimizing agricultural offerings [9][14]. - Evogene executed a 30% workforce reduction, with cost savings expected to be realized from the third quarter of 2025 onwards [13].