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.
Casterra Ag, a subsidiary of Evogene (NASDAQ: EVGN), announced completion of its first shipment of over 100 tons of castor seeds to a customer in Africa. The seeds were cultivated and processed in Kenya, marking a significant milestone in the company's African expansion plan. The production facility near Naivasha, Kenya, which began operations in August 2024, processed the seeds through dehulling, cleaning, sorting, and packaging. Currently, approximately 700 additional hectares are sown with Casterra's premium varieties in Kenya, with harvest expected in late 2024 and early 2025. The local production provides geographical advantages, reducing shipping costs while supporting the local economy.
Lavie Bio, a subsidiary of Evogene (Nasdaq: EVGN), has received a grant from the Israel Innovation Authority to advance its 'MicroFermentor' technology. This patented technology aims to revolutionize the delivery of ag-biologicals by enabling beneficial bacteria multiplication directly on plants. Key benefits include:
1. Reduced application costs
2. Extended shelf life
3. Prolonged bacterial viability after field application
The grant follows positive initial microbe encapsulation and greenhouse validation experiments. The global ag-biologicals market is growing at over 13% annually, expected to reach nearly $33 billion by 2030. 'MicroFermentor' presents an opportunity to bring new bacterial-based ag-biologicals to market, addressing current challenges in commercial production, application costs, and shelf life.
Evogene (Nasdaq: EVGN, TASE: EVGN) has announced a US$5.5 million registered direct offering and concurrent private placement. The company will sell 1,692,308 ordinary shares (or equivalents) at $3.25 per share, along with unregistered Series A and B warrants to purchase additional shares. The Series A warrants have a 5-year expiration and the Series B warrants expire in 18 months, both with an exercise price of $3.55. The offering is expected to close around August 26, 2024. A.G.P./Alliance Global Partners is acting as the sole placement agent. Evogene plans to use the net proceeds for working capital and general corporate purposes.
Evogene (Nasdaq: EVGN) reported its Q2 2024 financial results, highlighting significant revenue growth and reduced losses. H1 2024 revenues reached $5.1M, up from $1.3M in H1 2023, while Q2 2024 revenues were $914K, up from $654K in Q2 2023. The company anticipates continued revenue growth in H2 2024, driven by Casterra's seed orders totaling over $8.0M. H1 2024 loss decreased to $9.8M from $14.8M in H1 2023, and Q2 2024 loss reduced to $6.0M from $7.8M in Q2 2023. Evogene projects 2024 cash usage (excluding Biomica & Lavie Bio) to be $8.0M, down 36% from 2023. The company implemented a 10:1 reverse stock split in July 2024.
Evogene (Nasdaq: EVGN) has successfully regained compliance with Nasdaq's minimum closing bid price rule. The company received formal notification from Nasdaq that it has met the requirement of maintaining a minimum bid price of $1.00 per share for its ordinary shares. This compliance was achieved after Evogene's closing bid price remained at or above $1.00 for 10 consecutive business days. As a result, Nasdaq has closed the prior bid price deficiency matter, and Evogene is now fully compliant with Listing Rule 5550(a)(2).
Evogene (Nasdaq: EVGN) (TASE: EVGN), a leading computational biology company focused on revolutionizing life-science product discovery and development, has announced the release date for its second quarter 2024 financial results. The results will be published on Thursday, August 22, 2024, followed by a conference call hosted by the company's management at 9:00 AM Eastern Time (4:00 PM Israel time) on the same day.
Interested parties can register in advance for the conference call using the provided Zoom link. The company will also make the entire conference available on its website a few days after the event, ensuring accessibility for those unable to attend the live call.
Casterra Ag , a subsidiary of Evogene (Nasdaq: EVGN) (TASE: EVGN), has successfully completed its castor growing and harvesting season in Brazil. The castor seeds are scheduled for shipment in Q3 2024. Additionally, the castor harvesting season in Africa has begun as planned, expected to provide the majority of seeds for 2024.
Casterra anticipates meeting all existing orders, totaling approximately $8.4 million, with the combined production from Brazil and Africa. CEO Yoash Zohar highlighted impressive improvements in production capabilities in Brazil and expects similar positive performance in African territories. Casterra is positioned as a leader in industrialized castor farming with its elite varieties, global seed production, and efficient large-scale farming protocols.
Evogene (Nasdaq: EVGN) (TASE: EVGN) has announced a 1-for-10 reverse share split of its issued and outstanding Ordinary Shares, expected to be implemented after market close on July 24, 2024. The company's shares will begin trading on a post-reverse split basis on Nasdaq on July 25, 2024, and on the Tel Aviv Stock Exchange on July 28, 2024. Following the split, Evogene will have approximately 5,079,000 Ordinary Shares outstanding, reduced from about 50,790,000. The company's registered share capital will be adjusted to consist of NIS 3,000,000 divided into 15,000,000 Ordinary Shares of NIS 0.2 par value each. No fractional shares will be issued, and proportionate adjustments will be made to outstanding options and RSUs.
ICL and Lavie Bio have made a significant breakthrough in developing bio-stimulants for key row crops facing abiotic stresses. Using artificial intelligence, Lavie Bio identified over a dozen novel microbial candidates with commercial potential as bio-stimulants for crops under extreme weather conditions, including drought. This process, typically taking years, was achieved in just 12 months using Lavie Bio's Biology Driven Design (BDD) technology platform.
The collaboration aims to deliver 5% to 10% yield increases for farmers. The identified microbes met requirements for efficacy, stability, shelf life, and fertilizer compatibility, with a prediction rate ten times higher than industry standards. Field trials in the U.S. and Brazil are planned for the second half of 2024, with results expected by year-end. The regulatory process is set to begin in 2026.
Lavie Bio, a subsidiary of Evogene (Nasdaq: EVGN), announced the commercial expansion of its bio-inoculant product, Yalos™, to winter wheat. Following successful trials, Yalos™ will be available to winter wheat growers across the US for the 2024-2025 season. This expansion doubles the potential market for Yalos™, making it accessible to the substantial winter wheat market, which has an estimated annual value of $5-$10 billion. The trials showed improved crop attributes such as early vigor, biomass, root and shoot development, and nutrient availability. Lavie Bio aims to enhance farm productivity and sustainability with Yalos™ and plans further expansions to other crops like soybean and canola, targeting a commercial launch in 2025.