Evogene Stock Price, News & Analysis

Evogene (Nasdaq: EVGN) has announced a definitive agreement for ICL to acquire the majority of activities of its subsidiary, Lavie Bio , along with Evogene's MicroBoost AI for AG platform. The transaction is expected to close in Q2 2025.

The acquisition includes Lavie Bio's core team, BDD technology platform, microbial bank, data assets, development programs, and commercial products. Lavie Bio's existing partner agreements will remain with current shareholders. This deal follows ICL Planet's strategic investment and over two years of collaboration between ICL and Lavie Bio in developing bio-stimulant solutions for row crops.

Lavie Bio specializes in microbiome-based ag-biological products aimed at improving agricultural productivity and sustainability. The integration aims to accelerate the development of innovative agricultural solutions globally.

Evogene (NASDAQ: EVGN) reported its Q4 and full-year 2024 financial results, showing significant revenue growth to $8.5 million in 2024, up from $5.6 million in 2023. The increase was primarily driven by AgPlenus' Bayer collaboration and Casterra's seed sales.

The company reduced its net loss to $18.1 million in 2024 from $26.0 million in 2023, while R&D expenses decreased to $16.6 million from $20.8 million. Cash position stood at $15.3 million as of December 31, 2024, with reduced cash usage of $10.4 million in 2024.

Strategic highlights include:

• Implementation of a 30% headcount reduction plan
• Focus on ChemPass AI tech-engine for drug discovery
• Plans for subsidiary exit events
• Expansion of Casterra's castor seed business with significant delivery increases

Evogene (Nasdaq: EVGN) has announced the appointment of Nir Nimrodi as the new Chairperson of the Board, effective March 5, 2025. He succeeds Sarit Firon, who will continue serving as a board member. Nimrodi, who has been a board member since September 2022, brings over 20 years of international experience in life sciences, pharmaceutical, and biotechnology sectors.

The company's CEO, Ofer Haviv, will also join as a board member. Nimrodi has been involved with Evogene since 2020, initially as a special advisor before becoming a board member. The new chairman expressed commitment to unlocking shareholder value and leveraging the company's AI capabilities in drug discovery.

Evogene (Nasdaq: EVGN) (TASE: EVGN), a computational biology company focused on life-science product discovery and development, has announced it will release its fourth quarter 2024 financial results on Thursday, March 6, 2025.

The company will host a conference call to discuss the results at 9:00 AM Eastern Time (4:00 PM Israel time) on the same day. Interested parties can register for the Zoom conference call through the provided link. The conference recording will be made available on the company's website following the event.

AgPlenus, a subsidiary of Evogene (NASDAQ: EVGN), announced the discovery of a novel Mode of Action (MoA) against Zymoseptoria tritici, a fungal pathogen causing Septoria tritici blotch (STB) in wheat crops. The company has identified effective compounds through virtual screening and experimental testing.

The disease represents a significant market opportunity, with over 70% of wheat fungicides in Europe targeting Zymoseptoria tritici, worth more than 1.2 billion euros annually. Using their TargetSelector™ and PointHit™ tools, AgPlenus identified target proteins and inhibitory molecules, which showed promising results in laboratory and greenhouse trials.

The program is advancing to the next phase, utilizing the ActiveSearch™ tool to optimize the discovered molecules and explore potential collaborations for developing a novel fungicide.

Evogene (EVGN) reported Q3 2024 financial results with total revenues of $1.8M in Q3 2024, down from $3.8M in Q3 2023. However, nine-month revenues reached $6.9M, up from $5.1M in the same period of 2023. The company's operating loss for the first nine months was $17.6M, improved from $18.9M in 2023. Cash position stood at $20.0M as of September 30, 2024. The company completed a $5.5M fundraising in August 2024 and implemented cost-reduction measures, including a 16% headcount reduction. Projected cash usage for 2024 is expected to be $8-10M, down from $12.5M in 2023.

Lavie Bio, a subsidiary of Evogene (Nasdaq: EVGN), announced significant progress with its bio-fungicide LAV321. The product demonstrated an average 70% efficacy rate against downy mildew in grapes during three years of European field trials. LAV321 also showed over 60% efficacy against late blight in tomato trials, matching commonly used copper products. The product is now advancing to pre-commercial stage with regulatory processes beginning.

The global fungicide market, valued at $24.5 billion in 2024, is projected to reach $33.27 billion by 2028. LAV321 was developed using Lavie Bio's Biology Driven Design platform, powered by Evogene's MicroBoost AI tech-engine.

Lavie Bio , a subsidiary of Evogene (Nasdaq: EVGN), announced the commercial expansion of its bio-inoculant product, Yalos®, to soybean following successful 2024 field trials in the US. Yalos® demonstrated an average yield increase of over 5% in soybean, enhancing early vigor, biomass, root and shoot development, and nutrient availability. Currently available for spring and winter wheat, durum, and barley in North America, Yalos® will be available for soybean in the 2025 US spring season. This expansion doubles Yalos®' market potential, adding 86 million acres in the US. The trials showed consistent improvements across various soil conditions, supporting Yalos®' effectiveness. Lavie Bio aims for global expansion into Brazil and European markets in the coming years.

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.