Evogene (EVGN) Stock News

Evogene Ltd. (Nasdaq: EVGN) announced its Q2 2022 financial results, reporting revenues of $312,000, up from $135,000 in Q2 2021, attributed to the sales of Lavie Bio's Thrivus and Canonic products. Key developments include ICL's $10 million investment in Lavie Bio and the initiation of Biomica's Phase I clinical trial for its immuno-oncology drug candidate, BMC128. The company's net loss increased to $9.8 million from $6.9 million year-over-year, primarily due to financing expenses. Evogene maintains a solid cash position of approximately $35.3 million.

On August 25, 2022, Evogene Ltd. (Nasdaq: EVGN) announced it has regained compliance with Nasdaq Listing Rule 5450(a)(1), which mandates a minimum bid price of $1.00 per share. This decision followed a period of ten consecutive business days where the company’s ordinary shares closed at or above the required bid price. With this compliance, the previous bid price deficiency has been resolved, allowing Evogene to continue its operations without the risk of delisting from Nasdaq.

ICL announces a $10 million investment in Lavie Bio, a subsidiary of Evogene, as part of a strategic collaboration. This multi-year partnership aims to develop novel bio-stimulant products to enhance fertilizer efficiency, leveraging Lavie Bio's expertise in ag-biologicals and ICL's knowledge in fertilizer use. The ag-biologicals market, valued at $7.42 billion in 2018, is projected to reach $20.59 billion by 2026, indicating substantial growth potential. The collaboration aligns with ICL’s sustainability goals and market expansion in the ag-biologicals segment.

Evogene Ltd. (NASDAQ: EVGN) will release its financial results for Q2 2022 on August 31, 2022. A conference call will be held on the same day at 9:00 AM ET to discuss the results. The call can be accessed by dialing +1-888-281-1167 in the U.S. or +972-3-918-0609 internationally. Evogene, a computational biology company, utilizes advanced technologies to enhance life-science product development, focusing on microbes, small molecules, and genetic elements through its specialized engines: MicroBoost AI, ChemPass AI, and GeneRator AI.

Biomica Ltd., a clinical-stage biopharmaceutical company and a subsidiary of Evogene Ltd. (NASDAQ: EVGN), has appointed Professor Gal Markel to its Scientific Advisory Board. This addition aims to enhance Biomica’s immuno-oncology clinical development program. Professor Markel is an expert in translational tumor immunology with over 130 peer-reviewed papers and has significant experience in microbiome therapy. His groundbreaking study linking microbiome changes to improved melanoma immunotherapy positions him to contribute valuable insights to Biomica’s future projects.

Biomica Ltd., a subsidiary of Evogene (Nasdaq: EVGN), announced the dosing of the first patient in its Phase I clinical trial of BMC128, a microbiome-based drug candidate for immuno-oncology. This trial assesses safety and tolerability in patients with non-small cell lung cancer, melanoma, or renal cell carcinoma, using Bristol Myers Squibb's Opdivo® as an immune checkpoint inhibitor. Preliminary results are anticipated in early 2023, with the study aiming for completion by H2-2023. BMC128 is designed to enhance anti-tumor immunity via a unique microbial consortium identified through advanced microbiome analysis.

Biomica Ltd., a biopharmaceutical company specializing in microbiome-based therapeutics and a subsidiary of Evogene (NASDAQ: EVGN), will present at Microbiome Connect Europe in Amsterdam on July 6-7, 2022. Dr. Shiri Meshner, VP R&D at Biomica, will participate in a panel discussing gut microbiota's role in cancer therapy on July 6 at 11:30am CET and will present updates on BMC128, a live bacterial consortium for enhancing immune checkpoint therapy, on July 7 at 3:45pm CET. One-on-one meetings with Dr. Meshner are available for interested parties.

Biomica Ltd. announced its participation in the 7th Microbiome Movement Drug Development Summit, taking place from June 21-24, 2022, in Boston, MA. Dr. Elran Haber, CEO of Biomica, will join the opening panel on June 22, 2022. This summit is recognized as a key platform for microbiome drug developers, focusing on next-generation microbiome-based therapeutics and fostering industry collaborations. Biomica, a subsidiary of Evogene Ltd. (NASDAQ: EVGN), specializes in developing microbiome-based therapies targeting antibiotic-resistant bacteria and GI disorders.

Evogene Ltd. (NASDAQ: EVGN) reported its Q1 2022 financial results, showing revenues of $237K, a decline from $333K in Q1 2021. The company maintains a strong cash position of approximately $45 million. R&D expenses increased to $5.6 million from $4.3 million year-over-year, primarily due to ongoing clinical preparations. The net loss for the quarter was $9.1 million, up from $7.1 million in Q1 2021. Significant milestones include Biomica's positive pre-clinical results for BMC333 and the initiation of its first-in-human study. Lavie Bio's product 'result™' has shown potential yield improvements for growers amidst rising wheat prices.