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. (EVGN) is a computational biology and chemistry company that regularly publishes news about its AI‑driven platforms, collaborations and corporate developments. The EVGN news feed on Stock Titan aggregates company press releases and related coverage so readers can follow how Evogene applies big data and artificial intelligence to life‑science product discovery in pharmaceuticals and agriculture.
Recent announcements highlight Evogene’s focus on ChemPass AI, its generative AI tech‑engine for small‑molecule design and optimization. News items include the completion of a generative AI foundation model for small‑molecule design developed with Google Cloud, as well as updates on how ChemPass AI is being positioned as the core engine for the company’s pharma and agricultural activities.
Evogene’s news also covers scientific collaborations, such as agreements with Unravel Biosciences to design small‑molecule therapeutics for demyelinating diseases and with a Tel Aviv University research group to develop small molecules targeting metabolite self‑assembly in metabolic diseases. In agriculture, readers can find updates related to subsidiaries like Casterra Ag, including partnerships to advance mechanized castor farming for bio‑based industries.
In addition, the EVGN news stream features financial and corporate communications, including quarterly results, conference call schedules, investor conference presentations, restructuring steps and transactions such as the sale of most of Lavie Bio’s activity and the MicroBoost AI for Ag platform to ICL. Investors and observers can use this page to monitor how Evogene’s strategy, partnerships and technology platforms evolve over time.
Canonic Ltd., a subsidiary of Evogene Ltd. (NASDAQ: EVGN), has signed its first commercial agreement with Telcann Ltd. to provide plant growth services in Israel. This agreement completes a crucial step in Canonic's medical cannabis production infrastructure, allowing them to launch their products, MetaYield and Precise, starting in 2022. The Israeli medical cannabis market is projected to grow significantly, with estimates reaching 250,000 active patients by 2025, representing a potential $220 million annual market.
AgPlenus Ltd., a subsidiary of Evogene (NASDAQ: EVGN), has successfully reached the 'Lead' stage in its Mode-of-Action herbicide program with its candidate APH1. This milestone follows positive field tests indicating APH1 effectively controls resistant weeds, achieving 70%-100% control in 6 out of 9 commercial weed species. Notably, APH1 has shown efficacy against glyphosate-resistant strains and demonstrated crop selectivity. The development of this novel herbicide addresses critical herbicide resistance issues, with the global market for herbicides projected to hit $34 billion by 2022.
Evogene Ltd. (NASDAQ: EVGN) reported its Q3 2020 financial results, achieving revenue of approximately $0.3 million, up from $0.1 million in Q3 2019. The operating loss widened to about $5.6 million, largely due to increased R&D and G&A expenses. The company raised $22 million through two equity offerings, aiming to enhance its subsidiaries' product pipelines and support expansion in various sectors, including immuno-oncology and medical cannabis. Evogene's cash position stands at roughly $43.5 million, with net cash usage projected between $13-15 million for the full year.
Canonic, a subsidiary of Evogene (NASDAQ: EVGN), has received IMC-GAP approval from the Israel Medical Cannabis Agency for its propagation farm. This approval enables Canonic to launch its commercialization plan for medical cannabis products. The farm is operational and set to provide seedlings to certified growers in 2021. Canonic aims to establish a value chain from genomics to end-product, leveraging Evogene's genomic assets. The company plans to achieve initial sales in Israel by 2022.
Evogene Ltd. (NASDAQ: EVGN) has successfully completed a registered direct offering, raising approximately $12 million. The offering consists of 3.92 million ordinary shares priced at $2.50 each and 883,534 pre-funded warrants at $2.49 each, with an exercise price of $0.01. Cantor Fitzgerald & Co. served as the placement agent. This capital is expected to aid in advancing Evogene's computational biology platform, which focuses on product discovery in health and agriculture sectors. The offering was conducted under a previously declared effective shelf registration statement.
Evogene Ltd. (NASDAQ: EVGN) will release its financial results for Q3 2020 on November 18, 2020, with a conference call hosted by management at 9:00 AM ET. Dr. Elran Haber, CEO of Biomica Ltd., will discuss the subsidiary's activities. The conference call will be accessible via phone and live webcast. A replay will be available shortly after the call until November 20, 2020. Evogene focuses on computational biology to advance product development in human health and agriculture through its Computational Predictive Biology platform.
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.