Evogene Stock Price, News & Analysis

Evogene Ltd. (NASDAQ: EVGN) announced a registered direct offering of 3.92 million ordinary shares at $2.50 each and 883,534 pre-funded warrants at $2.49 each, with an exercise price of $0.01. The offering is expected to raise approximately $12 million, aimed at advancing product pipelines and enhancing its computational predictive biology platform. The expected closing date is on or before November 3, 2020. Cantor Fitzgerald & Co. serves as the placement agent for this offering.

Lavie Bio, a subsidiary of Evogene (NASDAQ: EVGN), reported positive trial results for its bio-fungicide products LAV311 and LAV312, aimed at combating bunch rot diseases. Conducted in vineyards across Europe and the U.S., trials demonstrated a 60-70% reduction in crop damage compared to control groups. The products advance to 'Development Stage 2', supporting plans for a 2024 launch. This development responds to the rising demand for agricultural sustainability amid increased resistance to chemical fungicides, with the biological pest control market growing significantly.

Biomica, a subsidiary of Evogene Ltd. (NASDAQ: EVGN), has announced the advancement to large-scale production of its Live Bacterial Product candidate, BMC128. Following successful R&D, Biomica is preparing for first-in-man clinical trials in 2021. BMC128, a consortium of four bacterial strains, showed efficacy in enhancing immune-checkpoint inhibitors' effects during preclinical studies. The production will be managed by Biose Industrie, a GMP-certified manufacturer, marking a significant milestone for Biomica's immuno-oncology program.

Biomica Ltd., a subsidiary of Evogene Ltd. (NASDAQ: EVGN), will present at the H.C. Wainwright 22nd Annual Global Investment Conference from September 14-16, 2020. CEO Dr. Elran Haber will provide a business overview on September 16 at 12:30 PM EDT and engage in one-on-one meetings with institutional investors. Biomica focuses on microbiome-based therapeutics for antibiotic resistance, immuno-oncology, and gastrointestinal disorders, utilizing its Computational Predictive Biology platform. This participation aims to enhance investor engagement and showcase Biomica's innovations.

Evogene Ltd. (NASDAQ: EVGN) announced its participation in the H.C. Wainwright 22nd Annual Global Investment Conference from September 14-16, 2020. Ofer Haviv, President & CEO, will present a company overview on September 16 at 12:00 PM (EDT) and will be available for one-on-one meetings with institutional investors. Evogene leverages its Computational Predictive Biology (CPB) platform to enhance product discovery across multiple life-science sectors, including human health and agriculture. This participation underscores its commitment to engaging with investors.

Biomica Ltd., a subsidiary of Evogene (NASDAQ: EVGN), announced positive pre-clinical in-vivo results for its immuno-oncology program. The study reported that BMC128, a combination of four bacterial strains, significantly improved anti-tumor activity in mice when combined with immune checkpoint inhibitors (ICI). These results suggest that the gut microbiome enhances the efficacy of cancer therapies. Biomica is preparing for first-in-man clinical trials in 2021, following additional pre-clinical studies.

Evogene Ltd. (NASDAQ: EVGN) has entered into a definitive agreement for a registered direct offering of ordinary shares at $1.70 each, totaling $10 million. ARK Investment Management will contribute $7 million, while Alpha Capital Anstalt will invest $3 million. The funds will be used to enhance product pipelines, expand their computational biology platform, and for general corporate purposes. The offering is expected to close by September 3, 2020, pending customary conditions. This offering follows a shelf registration statement declared effective by the SEC on August 10, 2020.

Evogene Ltd. (NASDAQ: EVGN) announced its participation in the LD 500 investor conference on September 2, 2020, at 9:40 AM ET. CEO Ofer Haviv will present to a live audience, highlighting Evogene's innovations in computational biology aimed at enhancing life-science product development across agriculture and health sectors. The LD 500, which runs from September 1-4, is fully virtual, allowing broad accessibility for investors. Interested parties can register online to participate in the conference and meet the CEO.

Evogene Ltd. (NASDAQ: EVGN) reported its Q2 2020 financial results, highlighting a cash position of approximately $38.1 million and revenues of $0.3 million, up from $0.2 million YoY. R&D expenses rose to $3.9 million, compared to $3.5 million in Q2 2019. Despite the COVID-19 challenges, the company aims to advance its technology solutions in agriculture and human health, with key projects in herbicides and microbiome-based therapeutics. Operating loss increased to $5.2 million from $4.7 million in the previous year, while the net loss reached approximately $4.8 million, compared to $4.1 million YoY.