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Evogene Ltd.
Foreign Filer Report • Nov 21, 2024
6785_rns_2024-11-21_e544bf6c-80d6-414d-8cd4-f569aa7f2808.pdf
Foreign Filer Report
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2024
Commission File Number: 001-36187
EVOGENE LTD.
(Translation of Registrant's Name into English)
13 Gad Feinstein Street, Park Rehovot Rehovot 7638517, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
CONTENTS
On November 21, 2024, Evogene Ltd. ("Evogene") announced its financial results for the third quarter ended September 30, 2024. A Copy of the press release announcing those results is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K (this "Form 6-K") and is incorporated herein by reference.
Evogene is holding a conference call on November 21, 2024 to discuss its quarterly results for the quarter ended September 30, 2024 and, in connection with that call, will make available to its investors a slide presentation to provide additional information regarding its business and its financial results. That slide presentation is attached as Exhibit 99.2 to this Form 6-K and is incorporated herein by reference.
The GAAP financial statements tables contained in the press release attached as Exhibit 99.1 to this Form 6-K are incorporated by reference in the registration statements on Form F-3 (Securities and Exchange Commission ("SEC") File No. 333-277565), and Form S-8 (SEC File Nos. 333-193788, 333-201443, 333-203856 and 333-259215) of Evogene, and will be a part thereof from the date on which this Form 6-K is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
EVOGENE LTD. (Registrant)
Date: November 21, 2024
By: /s/ Yaron Eldad Yaron Eldad Chief Financial Officer
EXHIBIT INDEX
| EX HIB IT NO |
DE SC RIP TIO N |
|---|---|
| 1 99. |
ele Th ird Qu r 20 24 Fin ial ults Pre ss R : Ev Rep Res orts arte ase oge ne anc |
| 99. 2 |
Slid tion for nfe all of E he ld o n N mb er 2 1, 2 024 , di ssin g E 's q terl y fi cial ults for the thi rd q of 2 024 nta ter e pr ese co ren ce c vog ene ove scu vog ene uar nan res uar |
Evogene Reports Third Quarter 2024 Financial Results
Conference call and webcast: today, November 21, 2024, 9:00 am ET
Financial 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 Lavie Bio.
- ◾For the full year 2024, Evogene anticipates continued revenue growth, compared to the previous year, mainly due to Casterra's supply of existing seed orders.
- ◾ G&A expenses in Q3 2024 included expenses of approximately \$1.4 million resulting from Evogene's fundraising and an allowance for doubtful debt from one of Casterra's seed suppliers. The remaining G&A expenses in Q3 2024 amounted to approximately \$1.5 million, unchanged compared to Q3 2023.
- ◾ In the first nine months of 2024, operating loss was approximately \$17.6 million, which included the G&A expenses of approximately \$1.5 million due to Evogene's fundraising and an allowance for doubtful debt mentioned above, and other expenses of approximately \$0.5 million, compared to approximately \$18.9 million in the first nine months of 2023.
- ◾ In the first nine months of 2024, financing expenses net, were approximately \$0.38 million compared to financing income net of approximately \$0.23 million in the first nine months of 2023. The financing expenses net in the first nine months of 2024, included approximately \$0.88 million of expenses related to accounting treatment of warrants issued as part of Evogene's August 2024 fundraising.
- ◾Projected cash usage for 2024, without Biomica and Lavie Bio, is approximately \$8-\$10 million compared to \$12.5 million in 2023.
- ◾In August 2024, Evogene completed a fundraising totaling \$5.5 million in gross proceeds, including ordinary shares and two sets of warrants.
- ◾The Company has taken measures to strengthen its cash position by reducing its expenses, including a reduction of 16% in its head count, and is exploring additional business opportunities to inject funds into the Company and its subsidiaries.
Rehovot, Israel – November 21, 2024 – Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN) ("Evogene" or the "Company"), a leading computational biology company aiming to revolutionize the development of life-science-based products, today announced its financial results for the third quarter period ended September 30, 2024.
Mr. Ofer Haviv, Evogene's President and Chief Executive Officer, stated: "Our vision is to position Evogene as a pioneering company in the development of groundbreaking life-science products, rooted in microbes, small molecules, and genomics. This led to the development of our three proprietary AI tech-engines: MicroBoost AI, ChemPass AI and GeneRator AI. Our AI-driven tech-engines offer a strong value proposition by efficiently identifying and optimizing the most promising candidates, enhancing the likelihood of achieving breakthrough products within competitive timelines and in a cost-effective way.
To maintain the competitive advantage of our AI tech-engines, Evogene continuously invests in enhancements and the addition of new applications and capabilities. This commitment is exemplified by our recent collaboration with Google Cloud to develop an advanced generative AI foundation model for small molecule design.
Building on the successful integration of ChemPass AI into Google Cloud, this collaboration will now focus on expanding the value of our tech-engine specifically through the creation of a cutting-edge foundation model. This model will be designed to generate and optimize innovative small molecule structures with better specific, desired properties, by expanding the training set for the model from 6 million molecules to 40 billion molecules.
The primary objective of this initiative is to enhance and expedite the discovery and development of new small molecules for drug development, sustainable crop protection, and other innovative applications across various life-science sectors.
The significant expansion of the model training set is expected to lead to the following key benefits:
- Innovative molecules, more accurately addressing the specific product requirements
- Shortening development timelines
- Enhanced cost efficiency
I want to emphasize that the foundation model, which will be integrated into ChemPass AI, will remain the exclusive property of Evogene."
Mr. Ofer Haviv continued: "To effectively harness the value embedded in our technology, we implement a targeted business strategy designed to maximize potential while minimizing risk, by establishing a diverse network of collaborative partnerships for life-science product development. We partner with experts in complementary fields, forming licensing or collaboration agreements with companies that bring domain-specific knowledge. Through these strategic alliances, we aim to co-develop innovative products. The upside for Evogene stems from revenue sharing mechanisms of the end-product, or through equity holdings in the company developing the end-product.
In the passing quarter all of our subsidiaries continued progressing in accordance with their work-plans, and we're very proud of their achievements.
With respect to activities in market segments not covered by our subsidiaries, I would like to share that, starting this past quarter, we have increased our efforts to establish partnerships with companies specializing in small-molecule drug development, leveraging the unique capabilities of ChemPass AI. To support this strategic focus, we have strengthened the business development team with a dedicated business development manager with the clear objective of generating new business opportunities for Evogene.
Additionally, we recently announced, alongside Watershed AC and Ben-Gurion University, the approval of a second-year grant to advance our joint project aimed at enhancing crustacean traits through gene-editing technology. In the second year, the collaboration will focus on scaling up CRISPR technology for the industrial production of giant freshwater prawns, with plans to extend these advancements to additional crustacean species."
Subsidiaries' Business Highlights:
Casterra Ag Ltd. – focuses on developing an integrated solution to enable large-scale commercial cultivation of castor to address the global demand for stable castor oil supply, mainly for the biodiesel industry. Casterra is utilizing Evogene's GeneRator AI tech-engine to direct and accelerate the development of its unique elite castor seed varieties.
- -July 31 - Successfully completed castor seed growing and harvesting season in Brazil with shipments planned to be initiated starting Q3 2024.
- -October 29 - Achieving key milestone in operational expansion in Africa, with completion of first shipment of over 100 tons of castor seeds grown and processed in Kenya.
- -As a result of the extended rain season in Africa, the current harvest season in Africa is expected to be completed by Q1 2025, supporting current and future demands.
- -Casterra is expected to supply a major portion of its existing seed orders by the end of 2024.
- -Casterra and its business partners are currently discussing the supply schedule, quantity and seed varieties of the remainder of the orders and future orders in 2025.
Lavie Bio Ltd. – a leading ag-biologicals company that develops microbiome-based, computational-driven, novel bio-stimulant and bio-pesticide products, utilizing Evogene's MicroBoost AI tech-engine.
- -July 2 - Commercial expansion of Yalos® to winter wheat. Initial sales to growers started in Q3 2024.
- -July 17 - ICL and Lavie Bio announced achieving a milestone in developing bio-stimulant solutions leveraging AI, by identifying over a dozen novel microbes within 12 months, for crops facing extreme weather conditions.
- -September 30 - Grant received from the Israel Innovation Authority to advance the development of 'MicroFermentor', a unique technology that can change the economics of ag-biologicals.
- -November 12 - Positive results for Yalos® as seed-treatment for soybean. Initial sales to growers expected in spring 2025.
- -November 19 - Advancement of LAV321, targeting downy mildew, to pre-commercialization, following successful 2024 field trial results.
AgPlenus Ltd. – specializes in developing novel and sustainable crop protection products, utilizing Evogene's ChemPass AI tech-engine.
- -Collaborations: Bayer and Corteva collaborations advancing according to plan.
-
- Pipeline:
- ◾Septoria, novel fungicide program - 3 out of 3 predicted proteins have been verified to be essential in Septoria.
- ◾Ongoing testing of ~1,000 compounds against Septoria targets; currently at least one target is showing high rates of in vitro hits.
Biomica Ltd. – a clinical-stage biopharmaceutical company developing innovative microbiome-based therapeutics, utilizing Evogene's MicroBoost AI tech-engine.
- -BMC128 continued phase I clinical study, with prolonged positive response of 5 patients.
- -Pre IND meeting with positive feedback from the FDA, and preparation for IND submission.
- -Manufacturing of clinical batch of BMC128 as part of preparation for FDA approved phase II clinical study.
- -2 new programs initiated: obesity & longevity, following extensive evaluations of over 40 possible indications. Acquisition and partial analysis of relevant data for the new programs.
Financial Highlights:
Cash Position: As of September 30, 2024, Evogene held consolidated cash, cash equivalents, and short-term bank deposits of approximately \$20.0 million. This amount does not include approximately \$1.4 of payments due from customers regarding deliveries made in September 2024. The consolidated cash usage during the third quarter of 2024 was approximately \$5.7 million. Excluding Lavie Bio and Biomica, Evogene and its other subsidiaries used approximately \$3.1 million in cash during the third quarter of 2024. Projected cash usage for 2024, excluding Lavie Bio and Biomica, is expected to be approximately \$8.0 - \$10.0 million, marking a notable 20% - 36% decrease from approximately \$12.5 million in 2023.
Revenue: Revenues for the first nine months of 2024 were approximately \$6.9 million, an increase from approximately \$5.1 million in the same period the previous year. This growth was primarily driven by revenues recognized from AgPlenus' new collaboration with Bayer and increased Casterra revenues for the supply of castor seeds during the period. Revenues for the third quarter of 2024 were approximately \$1.8 million, compared to approximately \$3.8 million in the same period the previous year. The decrease was mainly attributable to revenue of \$2.5 million recognized in Lavie Bio in the third quarter of 2023 from the licensing agreement with Corteva, partially offset by increased revenues recognized in Casterra and AgPlenus during the third quarter of 2024.
Evogene anticipates continued revenue growth in the fourth quarter of 2024 compared to the previous year, mainly based on Casterra's forecast for seed-order supply.
R&D Expenses: Research and development expenses, net of non-refundable grants, for the first nine months of 2024 were approximately \$13.2 million, a significant decrease from approximately \$15.2 million in the first nine months of 2023. The decrease in expenses is mainly due to the cessation of Canonic's activities and a decrease in certain development expenses in Biomica as compared to the same period the previous year. Research and development expenses, net of non-refundable grants, for the third quarter of 2024 were approximately \$4.4 million, and decreased as compared to approximately \$5.1 million in the same period in the previous year. The decrease is mainly attributable to decreased expenses in Canonic and Biomica, as mentioned above.
Sales and Marketing Expenses: Sales and marketing expenses for the first nine months of 2024 were approximately \$2.8 million, a slight increase from approximately \$2.6 million in the same period in the previous year. The increase is mainly attributable to increased sales and marketing activities in Casterra during the first nine months of 2024 as compared to the same period in 2023. Sales and marketing expenses for the third quarter of 2024 were approximately \$0.9 million and remained stable compared to approximately \$0.9 million in the same period in the previous year.
General and Administrative Expenses: 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 the previous year. General and administrative expenses for the third quarter of 2024 increased to approximately \$2.9 million compared to approximately \$1.5 million in the same period of the previous year. The increase during the first nine months period and the third quarter of 2024 were mainly attributable to expenses recorded in Casterra due to provision on doubtful debt of one seed supplier and transaction costs related to Evogene's fundraising that occurred in August 2024, totaling approximately \$1.4 million. Total other G&A expenses in Q3 2024 amounted to approximately \$1.5 million, unchanged compared to Q3 2023.
Other Expenses: The decision to cease Canonic's operations in the first half of 2024 resulted in other expenses of approximately \$0.5 million for the nine-month period ended September 30, 2024, mainly due to impairment of fixed assets in the first quarter of 2024.
Operating Loss: The 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 the previous year, mainly due to increased revenues as mentioned above. The operating loss for the third quarter of 2024 was approximately \$7.5 million, an increase from approximately \$4.2 million in the same period of the previous year, mainly due to decreased revenues and increased general and administrative expenses as mentioned above.
Financing Income / Expenses: Financing expenses, net for the first nine months of 2024 were \$378 thousand, compared to financing income, net of \$234 thousand in the same period of the previous year. Financing expenses, net for the third quarter of 2024 were \$757 thousand, compared to financing income, net of \$320 thousand in the same period of the previous year. The increase in financial expenses, net during the first nine month period and the third quarter of 2024 as compared to the respective periods of 2023 was mainly associated with accounting treatment of pre-funded warrants and warrants issued in August 2024 fund raising. Pre-funded warrants and warrants were classified as a liability on the consolidated statements of financial position, were initially recorded at fair value and subsequently remeasured at each reporting period using the Black - Scholes option pricing model. As a result, during the third quarter of 2024 the Company recorded net financial expenses, related to warrants of approximately \$882 thousand.
Net Loss: The net loss for the first nine months of 2024 was approximately \$18.0 million, compared to approximately \$18.6 million in the same period of the previous year. 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. The \$4.3 million increase in net loss for the third quarter of 2024 as compared to the third quarter of 2023 was primarily due to decreased revenues, increased general and administrative expenses and increased financial expenses as mentioned above. This increase in net loss was impacted by an amount of approximately \$1.5 million, due to transaction costs and the financial expenses related to warrants issued in that transaction.
For the financial tables click here.
***
Conference Call & Webcast Details: Thursday, November 21, 2024. 9:00 AM EST 4:00 PM IDT
To join the Zoom conference, please register in advance here
Or join via audio
Or, dial from the US: +15642172000, from Israel: +972 3 978 6688
Webinar ID: 842 8320 2980
More International numbers
Webcast & Presentation link available at:
https://evogene.com/investor-relations/
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 four 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; 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 Evogene's strategy and vision, Evogene's value proposition and ability to identify and optimize candidates, enhance the likelihood of achieving breakthrough products within competitive timelines and in a cost-effective way, Evogene's investments in and ability to develop novel products, applications and capabilities, expected benefits from the integration with Google Cloud, potential partnerships and Evogene's ability to harness value and leverage ChemPass AI, the expected timing of and ability of Casterra to supply purchase orders, the expected timing of Lavie Bio's sales, AgPlenus' pipeline, Biomica's BMC128's future activity, and Evogene's projected cash usage for 2024 and Evogene anticipated continued revenue growth in for 2024. 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, Hamas and Hezbollah 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 InvestorsRelations Contact:
Email: [email protected] Tel: +972-8-9311901
EVOGENE LTD. AND ITS SUBSIDIARIES
CONSOLIDATED INTERIM FINANCIAL STATEMENTS
AS OF SEPTEMBER 30, 2024
U.S. DOLLARS IN THOUSANDS
UNAUDITED
INDEX
| Pag e |
|
|---|---|
| Co lida ted In im Sta s of Fi cia l P osi tion ter tem ent nso nan |
9 |
| Co lida ted In im Sta s of Pr ofit Lo ter tem ent nso or ss |
10 |
| Co lida ted In im Sta s of Ca sh Flo ter tem ent nso ws |
11- 12 |
U.S. dollars in thousands
| Sep ber 30 tem , 202 4 |
Dec ber 31 em , 202 3 |
||
|---|---|---|---|
| ited Un aud |
|||
| CU RR EN T A SSE TS : |
|||
| Cas h a nd h e qui val ent cas s |
\$ 11, 317 |
\$ 20, 772 |
|
| Sho ba nk dep osit rt-t erm s |
8,6 36 |
10, 291 |
|
| Tra de r ivab les ece |
1,5 90 |
357 | |
| Oth iva ble d p aid er r ece s an rep exp ens es |
2,3 60 |
2,9 | |
| orie Inv ent s |
1,4 56 |
73 | |
| 76 | |||
| 25, 359 |
34, | ||
| LO NG -TE RM AS SE TS : |
469 | ||
| dep osit d o the ceiv abl Lon g-te rm s an r re es |
39 | ||
| ted for usi the uity tho d Inv estm ent acc oun ng eq me |
28 | ||
| Rig ht-o f-us sset e-a s |
95 619 |
- | |
| Pro pla nd ipm ty, nt a ent t , ne |
1,5 62 |
980 2,4 |
|
| per equ Inta ngi ble ets, t ass ne |
12, 440 |
55 13, |
|
| 169 | |||
| 14, 755 |
16, | ||
| 632 | |||
| \$ 40, 114 |
\$ 51, 101 |
||
| CU IAB S: RR EN T L ILI TIE |
|||
| Tra de p ble |
\$ 1,1 |
1,7 | |
| aya s Em oll ls |
98 2,2 89 |
\$ 85 2,5 |
|
| plo d p yee s an ayr acc rua Lea se l iab |
37 | ||
| ility Lia bili ties in |
417 782 |
853 | |
| of g ect ent nts resp ove rnm gra Def d re d o ther adv |
742 | 388 | |
| erre ven ues an anc es |
362 | ||
| Wa nd -fun ded ts l iab ility ts a t rran pre wa rran , ne |
6,3 82 |
- | |
| Con tibl e S AF E ver |
10, 320 |
- | |
| Oth ble er p aya s |
1,1 58 |
1,0 19 |
|
| 23, 288 |
6,9 | ||
| LO NG -TE RM LI AB ILI TIE S: |
44 | ||
| se l iab Lea |
|||
| ility Lia bili ties in |
269 | 285 | |
| of g ect ent nts resp ove rnm gra |
4,1 48 |
4,4 26 |
|
| Def d re d o ther adv erre ven ues an anc es |
171 | 393 | |
| Con tibl e S AF E ver |
- | 10, 368 |
|
| 4,5 88 |
15, 472 |
||
| SH AR EH OL DE RS ' E QU ITY : |
|||
| Ord ina har f N IS 0 .2 p alu ry s es o ar v e: |
|||
| Au tho rize d − 15 ,00 0,0 00 ord ina har Issu ed and ndi – 6 ,79 2,7 46 sha tsta ry s es; ou ng res |
|||
| f Se mb er 3 0, 2 024 d 5 ,07 9,3 13 (*) sha f D mb er 3 1, 2 023 pte as o an res as o ece |
301 | 286 | |
| Sha ium d o the pita l re re p rem an r ca serv e |
269 ,85 4 |
269 ,35 3 |
|
| Acc ula ted de fici t um |
(27 4,4 98) |
(25 7,5 86) |
|
| Equ ity ibu tab le t qui ty h old of t he Com attr o e ers pan y |
(4,3 43) |
12, 053 |
|
| roll int |
581 | ||
| ing No ont sts n-c ere |
16, | 16, 632 |
|
| T l eq uity ota |
12, | 28, | |
| 238 | 685 | ||
| \$ 40, |
51, | ||
| 114 | \$ 101 |
(*) Shares and per shares amounts have been retroactively adjusted to reflect the reverse stock split.
CONSOLIDATED INTERIM STATEMENTS OF PROFIT OR LOSS
U.S. dollars in thousands
| Nin ont hs end ed e m Sep tem ber 30 , |
Th nth ded ree mo s en Sep tem ber 30 , |
Yea ded r en Dec ber 31 em , |
|||||||
|---|---|---|---|---|---|---|---|---|---|
| 202 4 |
202 3 |
202 4 |
202 3 |
202 3 |
|||||
| Un aud ited |
|||||||||
| Rev enu es |
\$ | 6,9 00 |
\$ | 5,0 62 |
\$ | 1,7 96 |
\$ | 3,7 67 |
\$ 5,6 40 |
| Co f re st o ven ues |
1,9 28 |
1,2 94 |
1,0 81 |
511 | 1,6 92 |
||||
| Gro rofi t ss p |
4,9 72 |
3,7 68 |
715 | 3,2 56 |
3,9 48 |
||||
| Op ting era ex pen ses : |
|||||||||
| Res ch and de vel ent t ear opm , ne |
13, 247 |
15, 232 |
4,4 30 |
5,0 63 |
20, 777 |
||||
| Sal nd rke ting es a ma |
2,7 75 |
2,5 78 |
855 | 850 | 3,6 11 |
||||
| Gen l an d a dm inis ive trat era |
6,0 69 |
4,8 38 |
2,8 85 |
1,5 26 |
6,0 68 |
||||
| Oth er e xpe nse s |
524 | - | - | - | - | ||||
| Tot al o atin et per g e xpe nse s, n |
22, 615 |
22, 648 |
8,1 70 |
7,4 39 |
30, 456 |
||||
| Op ting los era s |
(17 ,64 3) |
(18 ,88 0) |
(7,4 55) |
(4, 183 ) |
(26 ,50 8) |
||||
| Fin ing inc anc om e |
2,8 20 |
1,1 28 |
2,1 53 |
429 | 1,4 86 |
||||
| Fin ing anc ex pen ses |
(3, 198 ) |
(89 4) |
(2,9 10) |
(10 9) |
(96 5) |
||||
| Fin ing inc e (e s), net anc om xpe nse |
(37 8) |
234 | (75 7) |
320 | 521 | ||||
| Sha f lo f an oci ate re o ss o ass |
(26 ) |
- | (6) | - | - | ||||
| Los s be fore n in tax es o com e |
(18 ,04 7) |
(18 ,64 6) |
(8,2 18) |
(3,8 63) |
(25 ,98 7) |
||||
| n in e (t ax b fit) Tax es o com ene |
2 | (29 ) |
1 | (5) | (33 ) |
||||
| Los s |
\$ | (18 ,04 9) |
\$ | (18 ,61 7) |
\$ | (8,2 19) |
\$ | (3,8 58) |
\$ (25 ,95 4) |
| Att ribu tab le t o: |
|||||||||
| Equ ity hol der s of the Co mp any |
(16 ,91 2) |
(17 ,27 8) |
(7,6 30) |
(3,9 84) |
(23 ,87 9) |
||||
| No roll ing int ont sts n-c ere |
(1, 137 ) |
(1,3 39) |
(58 9) |
126 | (2,0 75) |
||||
| \$ | (18 ,04 9) |
\$ | (18 ,61 7) |
\$ | (8,2 19) |
\$ | (3,8 58) |
\$ (25 ,95 4) |
|
| ic a nd dilu ted los r sh trib ble ity hol der s of the Co (*) Bas , at uta to s pe are equ mp any |
\$ | (3. 17) |
\$ | (3.9 1) |
\$ | (1.3 1) |
\$ | (0.8 1) |
\$ (5.2 0) |
| igh ted ber of sha d in utin g b asic d d ilut ed los r sh (*) We av era ge num res use co mp an s pe are |
5,3 27, 078 |
4,4 23, 661 |
5,8 07, 128 |
4,9 13, 052 |
4,5 89, 386 |
(*) Shares and per shares amounts have been retroactively adjusted to reflect the reverse stock split
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
| Nin ont e m Sep tem |
hs end ed 30 ber , |
Th nth ree mo Sep tem |
Yea ded r en Dec ber 31 em |
||
|---|---|---|---|---|---|
| 202 4 |
202 3 |
202 4 |
, 202 3 |
, 202 3 |
|
| Un | aud ited |
||||
| Cas h fl s fr ting ivit ies: act ow om op era |
|||||
| L oss |
\$ (18 ,04 9) |
\$ (18 ,61 7) |
\$ (8,2 19) |
\$ (3,8 58) |
\$ (25 ,95 4) |
| Adj nci le l sh u sed in rati acti viti ust nts to r to net me eco oss ca ope ng es: |
|||||
| Adj the fit or l ite ust nts to me pro oss ms : |
|||||
| iati Dep rec on |
1,1 82 |
1,2 23 |
382 | 416 | 1,6 41 |
| Am orti zati of i ngi ble nta ets on ass |
729 | 726 | 245 | 245 | 971 |
| Sha re-b d c sati ase om pen on |
1,4 78 |
1,7 64 |
479 | 545 | 1,8 77 |
| Rem f pr e-fu nde d w and nt o nts ts eas ure me arra wa rran |
(1,9 40) |
- | (1,9 40) |
- | - |
| Rev alu atio f co rtib le S AF E n o nve |
(48 ) |
177 | (72 ) |
(43 ) |
254 |
| Net fin ing (inc e) anc ex pen ses om |
943 | (20 6) |
1,1 65 |
(21 2) |
(66 6) |
| Los s (g ain ) fr sal e of pla nd ipm ty, nt a ent om pro per equ |
524 | (26 ) |
- | - | (26 ) |
| Exc of i niti al f air val of p re-f und ed w acti ds nts r tr ess ue arra ove ans on pro cee |
2,6 84 |
- | 2,6 84 |
- | - |
| Am orti zati of d efe rred rela ted issu e of to ts on ex pen ses anc wa rran |
137 | - | 137 | - | - |
| Sha f lo f an oci ate re o ss o ass |
26 | - | 6 | - | - |
| n in e (t ax b fit) Tax es o com ene |
2 | (29 ) |
1 | (5) | (33 ) |
| 5,7 17 |
3,6 29 |
3,0 87 |
946 | 4,0 18 |
|
| Ch es i d li abi lity ite t an ang n a sse ms : |
|||||
| Inc se i ade eiv abl n tr rea rec es |
(1,2 33) |
(99 7) |
(1,2 14) |
(1, 167 ) |
(9) |
| Dec se ( inc se) in o the ceiv abl rea rea r re es |
601 | (42 0) |
1,3 26 |
(50 4) |
(1,4 45) |
| Dec se ( inc se) in i ries nto rea rea nve |
(1,3 80) |
453 | (66 2) |
136 | 490 |
| Dec se i n d efer red tax rea es |
- | - | - | - | 94 |
| Inc se ( dec se) in t rad yab les rea rea e pa |
(53 4) |
179 | 228 | 153 | 742 |
| se ( dec se) in e loy d p oll ls Inc rea rea mp ees an ayr acc rua |
(24 8) |
72 | (44 ) |
(10 0) |
550 |
| se ( dec se) in o the yab les Inc rea rea r pa |
139 | (46 7) |
353 | (30 5) |
(53 4) |
| dec in d efer red nd oth dva Inc se ( se) rea rea rev enu es a er a nce s |
(96 ) |
190 | (12 ) |
263 | (28 8) |
| (2,7 51) |
(99 0) |
(25 ) |
(1,5 24) |
(40 0) |
|
| Cas h re ceiv ed (pa id) dur ing the riod for pe : |
|||||
| eiv ed Inte rest rec |
646 | 433 | 244 | 150 | 905 |
| id Inte rest pa |
(56 ) |
(92 ) |
(15 ) |
(26 ) |
(11 5) |
| id Tax pa |
- | (15 ) |
- | (5) | (31 ) |
| Ne sh u sed in rati acti viti t ca ope ng es |
\$ (14 ,49 3) |
\$ (15 ,65 2) |
\$ (4,9 28) |
\$ (4,3 17) |
\$ (21 ,57 7) |
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
| Nin hs end ed ont e m Sep ber 30 tem , |
Th ree Sep |
Yea ded r en Dec ber 31 em , |
|||||
|---|---|---|---|---|---|---|---|
| 202 4 |
202 3 |
202 4 |
202 3 |
202 3 |
|||
| Un aud |
ited | ||||||
| Cas h fl s fr inv esti acti viti ow om ng es: |
|||||||
| Pur cha f pr pla nd ipm rty, nt a ent se o ope equ |
\$ (30 4) |
\$ | (69 9) |
\$ (13 |
2) | \$ (21 6) |
\$ (78 5) |
| ds f sal e of rke tab le s ritie Pro cee rom ma ecu s |
- | 24 6,9 |
- | - | 24 6,9 |
||
| cha f m ark etab le s ritie Pur se o ecu s |
- | (50 3) |
- | - | (50 3) |
||
| ds f sal e of pla nd ipm Pro ty, nt a ent cee rom pro per aqu |
58 | 26 | 48 | - | 26 | ||
| Inv in sho ba nk dep osi estm ent rt t ts, net erm |
1,1 10 |
(9,7 00) |
2,1 | 00 | 3,8 60 |
(10 ,20 0) |
|
| sh p ide d b y (u sed in) inv esti acti viti Ne t ca rov ng es |
864 | (3,9 52) |
2,0 | 16 | 3,6 44 |
(4,5 38) |
|
| Cas h fl s fr fin ing ivit ies: act ow om anc |
|||||||
| f a sub sidi ferr ed sha trol ling int Issu to n sts anc e o ary pre res on- con ere |
9,5 23 |
9,5 23 |
|||||
| Pro ds f iss f or din sha e-fu nde d w and f is nts ts, n et o cee rom uan ce o ary res , pr arra wa rran sua nce ex pen ses |
- 4,8 54 |
4,8 | - 54 |
- | |||
| Pro ds f iss f or din sha t of iss cee rom uan ce o ary res , ne uan ce e xpe nse s |
123 | - 8,4 04 |
37 | - 8,0 68 |
- 8,4 49 |
||
| Rep of lea se l iab ility ent aym |
(69 5) |
(62 4) |
(23 | 3) | (21 1) |
(83 6) |
|
| Pro ds f ent nts cee rom go ver nm gra |
232 | 1,0 69 |
232 | (20 ) |
1,0 89 |
||
| Rep of ent nt g ts aym gov ern me ran |
(29 8) |
(73 ) |
(15 | 6) | (38 ) |
(73 ) |
|
| Net sh p ide d b y fi cin ctiv itie ca rov nan g a s |
4,2 16 |
18, 299 |
4,7 | 34 | 7,7 99 |
18, 152 |
|
| han diff ash d c ash iva len t ba lan Exc ate ge r ere nce s - c an equ ces |
(42 | ) | (34 4) |
11 | (28 ) |
(24 5) |
|
| Inc se ( dec se) in c ash d c ash uiv alen ts rea rea an eq |
(9,4 55) |
(1,6 49) |
1,8 | 33 | 7,0 98 |
(8,2 08) |
|
| Cas h a nd h e qui val s be gin nin f th erio d ent cas g o e p |
20, 772 |
28, 980 |
9,4 | 84 | 20, 233 |
28, 980 |
|
| Cas h a nd h e qui val d o f th erio d ent cas s en e p |
\$ 11, 317 |
\$ | 27, 331 |
\$ 11, |
317 | \$ 27, 331 |
\$ 20, 772 |
| Sig nifi ash ivit ies: t no act can n-c |
|||||||
| Ac qui siti of p , pl d e qui erty ant ent t on rop an pm , ne |
\$ 28 |
\$ | 35 | \$ | 28 | \$ 35 |
\$ 81 |
| Inc f ri ght -of- gni zed wi th c ndi lea se l iab ility et r rea se o use ass eco orre spo ng |
\$ 279 |
\$ | 135 | \$ | 95 | \$ | \$ 194 |
| in affi liat ed Com ith ond ing de ferr ed r Inv estm ent pan cor resp eve nue s y w |
\$ 120 |
\$ | - | \$ | - | - \$ - |
\$ - |
| 12 |
Q 3 2 0 2 4 E A R N I N G S C A L L O F E R H A V I V | P R E S I D E N T & C E O N o v e m b e r 2 1 , 2 0 2 4
FORWARD LOOKING STATEMENT
This presentation contains "forward-looking to future events, and Evogene Ltd. (the "Company"), may from time to time make other statements, regarding our outlook or expecting results and/or other matters regarding or affecting us that are considered "forward-looking statements" as defined in the Litigation Reform Act of 1995 (the "PSLRA") and other securities laws, as amended. Statements that are not statements of historical fact may be deements. Such forward-looking statements may be identified by the use of such words as "believe", "expect", "should", "planned", "intend" and "potential" or words of similar meaning. We are using forward-looking statements in this presentation when we discuss Evogene's value proposition and ability to identify and optimize candidates, enhance the likeling breakthrough products within competitive timelines and in a cost-ffective way, Evogene's investments in and ability to develop novel productions and capabilities, expected benefits from the integration with Google Cloud, potential partnerships and Evogene's ability to harness value and levelage themPass Al, the expected timing of and ability of Casters the expected timing of Lavie Bio's sales, AgPlenus' piomica's BMC28's future activity, and Evogene's projected cash usage for 2024 and Evogene anticipated continued revenue growth in for 2024 ..
Such statements are based on current expections and assumptions, describe opinions about future events, involve certain risks and uncertainties which are difficult to predict and are of future performance. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such reserially from any forward-looking statements that may be made in this presentation. Therefore, actual future results, performance or achievemay differ materially from what is expressed or implied by such forward-looking statements due to a variety of factors, many of which are beyond our control, including, without limitation, the current war between Israel, Hamas and Hezbollah and any worsening of the stuation in further mobilizations or escalation in the northern border of Israel, those described in greater detail in Evogene's Annual Report on Form 20-F and in other information Evogene files and furnity and the U.S. Securities and Exchange Commission, including those factors under the heading "Risk Factors".
Except as required by applicable securities laws we dbligation or commitment to update any information contained in this presentation or to publicly release the results of any revisions to any be made to reflect future events or developments or changes in expectations, estimates, projections and assumptions.
The information contained herein dees not constitute a prospectus or other offering document, nor does it constitute or offer to sell, or any solicitation of any invitation or offer to pay securities of Evogene or the Company, nor shall the information or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any action, contract, commitment or reating thereto or to the securities of Evogene or the Company.
evogene -
CEO Update / By Ofer Haviv
- · Financial & Business Highlights
- · Evogene Overview
- · Subsidiaries' Achievements
3
CFO Update / By Yaron Eldad Q&A
CEO Update
Q3 Financial highlights:
- · In the first nine months of 2024, total revenues reached approximately \$6.9 million compared to \$5.1 million in the first nine months 2023.
- · In Q3 of 2024, total revenues reached approximately \$1.8 million, compared to \$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 Lavie Bio.
- · For the full year 2024, Evogene anticipates continued revenue growth compared to the previous year, mainly upon Casterra's starting of supply of existing seed orders, initiated in August 2024.
- · G&A expenses in Q3 2024 included expenses of approximately \$1.4 million resulting from Evogene's fundraising and an allowance for doubtful debt from one of Casterra's seed suppliers. The remaining G&A expenses in Q3 2024 amounted to approximately \$1.5 million, unchanged compared to Q3 2023.
- · In the first nine months of 2024, operating loss was approximately \$77.6 million, which included the G&A expenses of approximately \$1.5 million due to Evogene's fundraising and an allowance for doubtful debt mentioned above and other expenses of \$0.5 million, compared to \$18.9 million in the first nine months of 2023.
evogene -
Q3 Financial highlights:
- · In the first nine months of 2024, financing expenses net, were approximately \$0.38 million, compared to financing income of \$0.23 million in the first 9-months of 2023. The financing expenses in the first nine months of 2024 net, included \$0.88 million expenses related to accounting treatment of warrants issued as part of Evogene's fundraising.
- · Projected cash usage for 2024, without Biomica and Lavie Bio, is approximately \$8-\$10 million compared to \$12.5 million in 2023.
- In August 2024, Evogene completed a fundraising \$5.5 million in gross proceeds, including ordinary shares and two sets of warrants.
- · The Company has taken measures to strengthen its cash position by reducing its expenses, including a reduction of 16% in its head count, and is exploring additional business opportunities to inject funds into the Company and its subsidiaries.
______________________________________________________________________________________________________________________________________________________________________________
evogene
Q3 Business Highlights:
Evogene
- · Collaboration with Google Cloud to pioneer generative Al foundation model for novel small molecule design.
- · Second year grant approval received from Israel Innovation Authority to continue collaboration with Watershed AC (formerly Colors Farm) & BGU, focused on improving crustacean traits utilizing CRISPR technology.
Casterra
- · Seed production in Brazil Completion of growing and harvesting season (July); seed shipment initiated.
- · Seed production in Africa:
- Achieving key milestone in operational expansion, with completion of first shipment of over 100 tons of castor seeds grown and processed in Kenya.
- Completion of current harvest season by Jan. 2025, supporting current and future demands; Supply to customers initiated at end of Q3, and continuing.
- · Current harvest season in Africa is expected to be completed by Q1 2025, supporting current and future demands.
- · Casterra is expected to supply a significant portion of its existing seed orders by the end of 2024.
- · Casterra and its business partners are currently discussing the supply schedule, quantity and seed varieties of the remainder of the orders and future orders in 2025.
______________________________________________________________________________________________________________________________________________________________________________
Q3 Business Highlights:
Lavie Bio
- · Commercial expansion of Yalos® to winter wheat (July) and at present (November) to soybean. Spring 2025, expected initial sales for soybean.
- · Advancement of LAV321, a bio-fungicide targeting downy mildew, to pre-commercialization, following successful field trial results.
AgPlenus
- · A new fungicide program focusing on Septoria; 3 proteins predicted by ChemPass Al as targets, verfied to be essential in Septoria.
- · Identification of ~ 1,000 compounds predicted to be effective in the protein targets, currently under testing.
Biomica
· Phase I of clinical study for microbiome-based therapeutic BMC128 is near completion, with prolonged positive response of 5 patients, still active in the study.
______________________________________________________________________________________________________________________________________________________________________________
· Positive feedback from the FDA following a pre-IND meeting earlier this year, with current preparation for the IND submission.
evogene -
CEO Update / By Ofer Haviv
· Financial & Business Highlights
- · Evogene Overview
- · Subsidiaries' Achievements
- CFO Update / By Yaron Eldad Q&A
DECODING BIOLOGY
OUR VISION
PIONEER GROUNDBREAKING LIFE-SCIENCE PRODUCTS ROOTED IN MICROBES, SMALL MOLECULES, AND GENOMICS
WE DIRECT AND ACCELERATE LIFE-SCIENCE PRODUCT DISCOVERY & OPTIMIZATION
through 3 dedicated AI tech-engines
COLLABORATION WITH GOOGLE CLOUD
Oct. 31 - Collaboration with Google Cloud to pioneer generative Al foundation model for novel small molecule design.
The collaboration has the power to foster breakthroughs in small molecule innovation for life science-based products
Google Cloud
evogene -
1 2 S M A L L M O L E C U L E S G E N E T I C E L E M E N T S M I C R O B E S A W O R L D O F O P P O R T U N I T I E S F O R O U R A I T E C H E N G I N E S A G R I C U L T U R E & F O O D P H A R M A & W E L L N E S S O T H E R I N D U S T R I E S I m p r o v e d c r o p s A l t e r n a t i v e f o o d M e d i c a l C a n n a b i s G e n e t h e r a p y D i a g n o s t i c s & p r e c i s i o n m e d i c i n e C e l l t h e r a p y B i o f u e l F r a g r a n c e s N a t u r a l f o o d c o l o r i n g N o v e l e n z y m e s A G R I C U L T U R E & F O O D P H A R M A & W E L L N E S S O T H E R I N D U S T R I E S C r o p p r o t e c t i o n C h e m i c a l s t i m u l a n t s A n i m a l f e r t i l i t y A n i m a l h e a l t h c a r e P h a r m a c e u t i c a l s A d v a n c e d w o u n d c a r e M e d i c a l d e v i c e c o a t i n g F l a v o r s a n d F r a g r a n c e s A G R I C U L T U R E & F O O D P H A R M A & W E L L N E S S O T H E R I N D U S T R I E S P l a s t i c d e g r a d a t i o n C h e m i c a l s S o u r c e f o r e n z y m e s O i l s p i l l c l e a r i n g W a s t e - w a t e r t r e a t m e n t s M i c r o b i a l s f o r c r o p s F o o d H u m a n & a n i m a l p r o b i o t i c s T h e r a p e u t i c m i c r o b i a l s P r o b i o t i c s D i e t a r y s u p p l e m e n t s
Capture the value of our Al tech-engines through diverse collaborative partnerships to accelerate life-science product development
Partnering with experts in specific fields complements our technology, enabling groundbreaking innovations and financial gains for Evogene.
A q u a c u l t u r e L i c e n s i n g C o l l a b o r a t i o n I m p r o v e d c r o p s C r o p p r o t e c t i o n P h a r m a c e u t i c a l s M i c r o b i a l s f o r c r o p s T h e r a p e u t i c m i c r o b i a l s 1 4 L I C E N S I N G & C O L L A B O R A T I O N | C U R R E N T S T A T U S F o o d - T e c h A G R I C U L T U R E & F O O D P H A R M A & W E L L N E S S O T H E R I N D U S T R I E S A G R I C U L T U R E & F O O D P H A R M A & W E L L N E S S O T H E R I N D U S T R I E S A G R I C U L T U R E & F O O D P H A R M A & W E L L N E S S O T H E R I N D U S T R I E S S M A L L M O L E C U L E S G E N E T I C E L E M E N T S M I C R O B E S
EVOGENE COLLABORATIONS
- · Efforts to advance collaborations with companies focused on drug development based on small molecules, through the unique capabilities of ChemPass Al.
- · October 8 Watershed AC (formerly Colors Farm), Evogene and Ben-Gurion University received approval for second year grant to continue the collaboration focused on improving crustacean traits utilizing gene editing technology.
evogene | Commercial & Group | FINANCIAL PARTNERS
evogene -
CEO Update / By Ofer Haviv
- · Financial & Business Highlights
- · Evogene Overview
- · Subsidiaries' Achievements
- CFO Update / By Yaron Eldad Q&A
Casterra focuses on developing integrated solutions for large-scale castor bean cultivation, utilizing GeneRator Al tech-engine
- July 31 Successfully completed castor seed growing and harvesting season in Brazil with first shipments taking place in Q3 2024.
- Oct. 29 Achieving key milestone in operational expansion in Africa, with completion of first shipment of over 100 tons of castor seeds grown and processed in Kenya.
- As a result of the extended rain season in Africa, current harvest season in Africa is expected to be completed by Q1 2025, supporting current and future demands.
- Casterra is expected to supply a significant portion of its existing seed orders by the end of 2024.
- Casterra and its business partners are currently discussing the supply schedule, quantity and seed varieties of the remainder of the orders and future orders in 2025.
evogene ----------------------------------------------------------------------------------------------------------------------------------------------------------------------
Lavie Bio, a global leader in developing next generation ag-biological products, leveraging MicroBoost Al tech-engine
- July 2 Commercial expansion of Yalos® to winter wheat. Initial sales to growers started in Q3 2024.
- July 17 ICL and Lavie Bio announced a milestone in developing biostimulant solutions leveraging Al, by identifying over a dozen novel microbes within 12 months, for crops facing extreme weather conditions.
- Sept. 30 Grant received from IIA to advance the development of 'MicroFermentor', a unique technology that can change the economics of ag-biologicals.
- Nov. 12 Positive results for Yalos® as seed-treatment for soybean. Initial sales to growers expected in spring 2025.
- Nov. 19 Advancement of LAV321, targeting downy mildew, to precommercialization, following successful 2024 field trial results.
AgPlenus specializes in developing novel and sustainable crop protection products, utilizing Evogene's ChemPass Al tech-engine
- Collaborations: Bayer and Corteva collaborations advancing according to plan.
- Pipeline: ו ל
- · Septoria, novel fungicide program 3 out of 3 predicted proteins have been verified to be essential in Septoria.
- · Ongoing testing of ~1,000 compounds against Septoria targets; currently at least one target is showing high rates of in vitro hits.
Biomica specializes in developing microbiomebased therapeutics for human health, utilizing Evogene's MicroBoost Al tech-engine
- BMC128 continued phase I clinical study, with prolonged positive response of 5 patients.
- Pre IND meeting with positive feedback from the FDA, and preparation for IND submission.
- preparation for FDA approved phase II clinical study.
- 2 new programs initiated: longevity & obesity, following extensive evaluations of over 40 possible indications. Acquisition and partial analysis of relevant data for the new programs.
evogene -
evogene -
CEO Update / By Ofer Haviv
- · Financial & Business Highlights
- · Evogene Overview
- · Subsidiaries' Achievements
- CFO Update / By Yaron Eldad Q&A
| CEO UPDATE | September 30, 2024 Unaudited |
December 31, 2023 |
||
|---|---|---|---|---|
| CURRENT ASSETS: Cash and cash equivalents Short-term bank deposits Trade receivables Other receivables and prepaid expenses Inventories |
રું ર 11,317 8,636 1,590 2,360 1,456 |
રે | 20,777 10,29 35 2,97 7 |
|
| LONG-TERM ASSETS: Long-term deposits and other receivables Investment accounted for using the equity method Right-of-use-assets Property, plant and equipment, net Intangible assets, net |
25,359 39 95 619 1,562 12,440 |
34,46! 2 વેઢા 2,45 13,169 |
||
| CURRENT LIABILITIES: Trade payables Employees and payroll accruals Lease liability Liabilities in respect of government grants Deferred revenues and other advances Warrants and pre-funded warrants liability, net Convertible SAFE Other payables |
14,755 లు 40,114 રે 1,198 2,289 417 782 742 6,382 10,320 1,158 |
રે રે |
16,63 51,10 1,78 2,53 દર્ 38 36 1,019 |
|
| LONG-TERM LIABILITIES: Lease liability Liabilities in respect of government grants Deferred revenues and other advances Convertible SAFE |
23,288 269 4,148 171 |
6,94 28 4,42 39 10,36 |
||
| SHAREHOLDERS' EQUITY: Ordinary shares of NIS 0.2 par value: Authorized - 15,000,000 ordinary shares; Issued and outstanding - 6,792,746 shares as of September 30, 2024 and 5,079,313 (*) shares as of December 31, 2023 Share premium and other capital reserve Accumulated deficit |
4.588 301 269,854 (274,498) |
15,47 28 269,35 (257,586 |
||
| Equity attributable to equity holders of the Company | (4,343) | 12,051 | ||
| Non-controlling interests | 16,581 | 16,63 | ||
| Total equity | 12,238 | 28,68 | ||
| \$ 40,114 | રે | 51,10) |
- 23
| Nine months ended September 30, |
Three months ended September 30, |
Year ended December 31 |
|||||
|---|---|---|---|---|---|---|---|
| CFO UPDATE | 2024 | 2023 | 2024 | 2023 | 2023 | ||
| Unaudited | |||||||
| Evogene Financial Performance Q3 2024 | Revenues Cost of revenues |
\$ 6,900 1,928 |
లు 5,062 1,294 |
\$ 1,796 1,081 |
\$ 3,767 511 |
રે 5,64 1,69 |
|
| Gross profit | 4,972 | 3.768 | 715 | 3,256 | 3,94 | ||
| Operating expenses: | |||||||
| Research and development, net Sales and marketing General and administrative Other expenses |
13,247 2,775 6,069 524 |
15,232 2,578 4,838 |
4,430 855 2,885 |
5,063 850 1,526 |
20,77 3,61 6,06 |
||
| Total operating expenses, net | 22,615 | 22,648 | 8,170 | 7,439 | 30,45 | ||
| Operating loss | (17,643) | (18,880) | (7,455) | (4,183) | (26,508 | ||
| Financing income Financing expenses |
2,820 (3,198) |
1.128 (894) |
2,153 (2,910) |
429 (109) |
1,48 (તેરર |
||
| Financing income (expenses), net | (378) | 234 | (757) | 320 | 52 | ||
| Share of loss of an associate | (26) | (6) | |||||
| Loss before taxes on income Taxes on income (tax benefit) |
(18,047) | (18,646) (29) |
(8,218) | (3,863) (5) |
(25,987 (33 |
||
| Loss | \$ (18,049) | \$ (18,617) | \$ (8,219) | \$ (3,858) | \$ (25,954 | ||
| Attributable to: Equity holders of the Company Non-controlling interests |
(16,912) (1,137) |
(17,278) (1,339) |
(7,630) (589) |
(3,984) 126 |
(23,879 (2,075 |
||
| \$ (18,049) | \$ (18,617) | \$ (8,219) | \$ (3,858) | \$ (25,954 | |||
| Basic and diluted loss per share, attributable to equity holders of the Company (*) |
\$ (3.17) \$ (3.91) \$ (1.31) | \$ (0.81) | \$ (5.20 | ||||
| Weighted average number of shares used in computing basic and diluted loss per share (*) |
5,327,078 | 4,423,661 | 5,807,128 | 4,913,052 | 4,589,38 | ||
| evogen | (") Shares and per shares amounts have been retroactively adjusted to reflect the reverse stock split |
C F O U P D A T E E v o g e n e F i n a n c i a l P e r f o r m a n c e Q 3 2 0 2 4 2 4
evogene -
- CEO Update / By Ofer Haviv
- · Financial & Business Highlights
- · Evogene Overview
- · Subsidiaries' Achievements
- CFO Update / By Yaron Eldad Q&A
