EVOGENE LTD. - EVGN STOCK NEWS

Evogene (Nasdaq: EVGN, TASE: EVGN), a computational biology company, announced the release of its Q3 2024 financial results on November 21, 2024. The company's management will discuss the results in a Zoom conference call scheduled for the same day at 9:00 AM ET (4:00 PM Israel time). To attend, participants need to register in advance. The conference will be available online on Evogene's website a few days after the event.

Evogene (NASDAQ: EVGN) announced a collaboration with Google Cloud to develop a generative AI foundation model for small molecule design. The initiative will enhance Evogene's ChemPass AI tech-engine, leveraging Google Cloud's Vertex AI, GPUs, and Storage capabilities. The foundation model will be trained on ~40 billion molecular structures to accelerate the discovery of novel products in pharmaceuticals, agriculture, and other life-science industries.

The collaboration aims to expedite drug discovery, reduce costs, and increase success rates in identifying promising candidates. The technology will also support sustainable crop protection and food security solutions.

Casterra Ag, a subsidiary of Evogene (NASDAQ: EVGN), announced completion of its first shipment of over 100 tons of castor seeds to a customer in Africa. The seeds were cultivated and processed in Kenya, marking a significant milestone in the company's African expansion plan. The production facility near Naivasha, Kenya, which began operations in August 2024, processed the seeds through dehulling, cleaning, sorting, and packaging. Currently, approximately 700 additional hectares are sown with Casterra's premium varieties in Kenya, with harvest expected in late 2024 and early 2025. The local production provides geographical advantages, reducing shipping costs while supporting the local economy.

Lavie Bio, a subsidiary of Evogene (Nasdaq: EVGN), has received a grant from the Israel Innovation Authority to advance its 'MicroFermentor' technology. This patented technology aims to revolutionize the delivery of ag-biologicals by enabling beneficial bacteria multiplication directly on plants. Key benefits include:

1. Reduced application costs
2. Extended shelf life
3. Prolonged bacterial viability after field application

The grant follows positive initial microbe encapsulation and greenhouse validation experiments. The global ag-biologicals market is growing at over 13% annually, expected to reach nearly $33 billion by 2030. 'MicroFermentor' presents an opportunity to bring new bacterial-based ag-biologicals to market, addressing current challenges in commercial production, application costs, and shelf life.

Evogene (Nasdaq: EVGN, TASE: EVGN) has announced a US$5.5 million registered direct offering and concurrent private placement. The company will sell 1,692,308 ordinary shares (or equivalents) at $3.25 per share, along with unregistered Series A and B warrants to purchase additional shares. The Series A warrants have a 5-year expiration and the Series B warrants expire in 18 months, both with an exercise price of $3.55. The offering is expected to close around August 26, 2024. A.G.P./Alliance Global Partners is acting as the sole placement agent. Evogene plans to use the net proceeds for working capital and general corporate purposes.

Evogene (Nasdaq: EVGN) reported its Q2 2024 financial results, highlighting significant revenue growth and reduced losses. H1 2024 revenues reached $5.1M, up from $1.3M in H1 2023, while Q2 2024 revenues were $914K, up from $654K in Q2 2023. The company anticipates continued revenue growth in H2 2024, driven by Casterra's seed orders totaling over $8.0M. H1 2024 loss decreased to $9.8M from $14.8M in H1 2023, and Q2 2024 loss reduced to $6.0M from $7.8M in Q2 2023. Evogene projects 2024 cash usage (excluding Biomica & Lavie Bio) to be $8.0M, down 36% from 2023. The company implemented a 10:1 reverse stock split in July 2024.

Evogene (Nasdaq: EVGN) has successfully regained compliance with Nasdaq's minimum closing bid price rule. The company received formal notification from Nasdaq that it has met the requirement of maintaining a minimum bid price of $1.00 per share for its ordinary shares. This compliance was achieved after Evogene's closing bid price remained at or above $1.00 for 10 consecutive business days. As a result, Nasdaq has closed the prior bid price deficiency matter, and Evogene is now fully compliant with Listing Rule 5550(a)(2).

Evogene (Nasdaq: EVGN) (TASE: EVGN), a leading computational biology company focused on revolutionizing life-science product discovery and development, has announced the release date for its second quarter 2024 financial results. The results will be published on Thursday, August 22, 2024, followed by a conference call hosted by the company's management at 9:00 AM Eastern Time (4:00 PM Israel time) on the same day.

Interested parties can register in advance for the conference call using the provided Zoom link. The company will also make the entire conference available on its website a few days after the event, ensuring accessibility for those unable to attend the live call.

Casterra Ag , a subsidiary of Evogene (Nasdaq: EVGN) (TASE: EVGN), has successfully completed its castor growing and harvesting season in Brazil. The castor seeds are scheduled for shipment in Q3 2024. Additionally, the castor harvesting season in Africa has begun as planned, expected to provide the majority of seeds for 2024.

Casterra anticipates meeting all existing orders, totaling approximately $8.4 million, with the combined production from Brazil and Africa. CEO Yoash Zohar highlighted impressive improvements in production capabilities in Brazil and expects similar positive performance in African territories. Casterra is positioned as a leader in industrialized castor farming with its elite varieties, global seed production, and efficient large-scale farming protocols.