Welcome to our dedicated page for Evogene news (Ticker: EVGN), a resource for investors and traders seeking the latest updates and insights on Evogene stock.
Evogene Ltd. reports developments as a computational chemistry company focused on generative design of small molecules for pharmaceutical and agricultural applications. Its recurring updates center on ChemPass AI™, a proprietary generative AI platform used to explore chemical space and optimize small-molecule candidates across multiple parameters.
Company news also covers financial results, strategic refocusing around ChemPass AI™, collaborations in drug discovery and ag-chemical development, and subsidiary activity. Reported subsidiary themes include Casterra's castor seed varieties and castor farming systems for bio-based industries, AgPlenus work on novel herbicides and fungicides, Biomica microbiome-based therapeutics, and Nasdaq listing-compliance matters for EVGN ordinary shares.
Evogene Ltd. (NASDAQ: EVGN) reported its financial results for the first nine months and third quarter of 2021, ending September 30. The company holds a strong cash position of $61.6 million, with cash usage of $17.3 million in the first nine months, primarily due to increased R&D and BD efforts. Notable advancements include Biomica's clinical trial agreement with Rambam Health Care, Canonic's early product launch, and Lavie Bio's inoculant rollout planned for 2022. However, the company posted a net loss of $8.3 million in Q3 2021, up from $5.4 million in Q3 2020, driven by rising operational costs.
Evogene Ltd. (NASDAQ: EVGN) has secured funding from the Israeli Innovation Authority (IIA) for a second 18-month phase of the CRISPR-IL consortium, aimed at enhancing its AI-based genome-editing platform, Go-Genome. The IIA's approval involves a budget of approximately ILS 45 million (about $14.4 million). The upcoming phase will focus on improving editing efficiency and specificity through extensive genome-editing experiments. This initiative could propel new commercial directions for Evogene, which is also exploring product development using the Go-Genome platform in various life-science sectors.
Evogene's subsidiary, Lavie Bio, has launched its first microbiome-based inoculant, result™, aimed at improving wheat yield. Set for limited marketing in North Dakota for the 2022 spring wheat season, result™ is projected to enhance farmers' profits by up to 50%, offering an additional $20 per acre. Field trials indicate a potential increase of 3-4 bushels per acre compared to industry benchmarks. Lavie Bio plans to expand distribution and production capabilities, leveraging its BDD platform that utilizes AI and big data for product development.
On October 27, 2021, Biomica Ltd., a subsidiary of Evogene (NASDAQ: EVGN), and Rambam Health Care Campus announced a clinical trial agreement to initiate a first in-human proof-of-concept study for BMC128, Biomica's innovative drug candidate targeting refractory cancers. The trial aims to evaluate the safety and tolerability of BMC128 in combination with anti-PD-1 therapy in patients with Non-small Cell Lung Cancer, Melanoma, or Renal Cell Carcinoma. This study follows promising preclinical results showing enhanced anti-tumor activity, pending approval from the Israeli Ministry of Health.
Evogene Ltd. (NASDAQ: EVGN) has announced that it will release its third quarter 2021 financial results on November 17, 2021. The CEO of Canonic Ltd., a subsidiary of Evogene, will participate in a conference call to discuss the results at 9:00 AM ET. Investors can access the call via phone or live webcast on the company’s website. A replay will be available shortly after the call until November 19, 2021. Evogene focuses on computational biology to enhance product discovery in multiple life-science industries.
Canonic Ltd., a wholly-owned subsidiary of Evogene Ltd. (NASDAQ: EVGN), has launched its first medical cannabis products, G200 and G150, ahead of schedule due to positive patient feedback during a pre-launch campaign. The products, categorized under T20/C4 and T15/C3, will be widely available in Israeli pharmacies immediately. Israel's medical cannabis market is valued at approximately $260 million annually, with over 100,000 licensed patients expected to double by 2025. Both products showcase high THC levels developed through Evogene's computational platform.
Lavie Bio Ltd., a subsidiary of Evogene Ltd. (NASDAQ: EVGN), has announced a distribution agreement with United Agronomy for its microbial inoculant product LAV.211. The agreement aims to enhance the commercialization of LAV.211 in North Dakota, targeting the 2022 spring wheat season. LAV.211 is designed to improve nutrient uptake and increase crop yield while promoting environmental sustainability. Initial testing has shown positive results, and both companies expect this partnership to benefit local farmers and enhance profitability.
Evogene Ltd. (NASDAQ: EVGN) announced that President and CEO Ofer Haviv will participate in a "Fireside Chat" at the Cantor Virtual Global Healthcare Conference from September 27-30, 2021. The interview will take place on September 28, 2021, at 10:40 am EST. Haviv will discuss Evogene's innovative technologies and product development strategies across its subsidiaries. Interested investors can access the webcast at this link and can arrange meetings with Mr. Haviv through the investor relations team.
Evogene Ltd. (NASDAQ: EVGN) announced that its President and CEO, Ofer Haviv, will present at the H.C. Wainwright 23rd Annual Global Investment Conference from September 9-15, 2021. The presentation will take place on September 9, 2021, at 07:30 am EST, focusing on Evogene's innovative technologies and product discovery engines. Investors interested in meeting Mr. Haviv can contact Evogene's Investor Relations team. Evogene leverages its Computational Predictive Biology platform to advance life-science products in human health and agriculture.
Canonic Ltd, a subsidiary of Evogene, has announced the pre-launch of its first-generation medical cannabis products, branded as G-nnovation, in Israel. The products, which focus on high THC content, will be sold to a limited number of licensed patients through Telepharma pharmacy. Full commercial launch is expected in 2022. The Israel medical cannabis market is valued at approximately $260 million, with 100,000 licensed patients in July 2021. Canonic aims to become a global leader in medical cannabis, leveraging Evogene's advanced computational biology capabilities.