Conference call and webcast: today, August 22, 2024, 9:00 am ET
Financial and Business Highlights:
- H1 2024 revenues $5.1M, up from
$1.3M in H1 2023; Q2 2024 revenues
$914K, up from $654K in Q2 2023.
- Anticipated continued revenue growth in the second half of 2024
compared to the same period in the previous year, primarily driven
by Casterra's initiation of supplying existing seed orders,
which began in August 2024 and total
over $8.0 million.
- H1 2024 loss $9.8M, down from
$14.8M in H1 2023; Q2 2024 loss
$6.0M, down from $7.8M in Q2 2023.
- Projected 2024 cash usage (excl. Biomica &
Lavie Bio) $8.0M, down 36% from $12.5M in 2023.
- Implemented a 10:1 reverse stock split during July 2024.
Casterra:
- Received a $440K order for castor
seeds from an existing customer for a new African country.
- Completed a successful castor seed season in Brazil, with shipments planned for Q3
2024.
- Seeds produced in Brazil and
Africa in 2024, are anticipated to
meet existing orders totaling approximately $8.4M.
Biomica:
- Promising Phase 1 results for BMC128 with nivolumab in
RCC, NSCLC, and melanoma, presented at ASCO 2024.
Lavie Bio:
- A significant milestone achieved in ICL collaboration,
developing yield-increasing bio-stimulants for row crops under
extreme weather conditions by leveraging AI to identify over a
dozen novel microbial candidates.
- Announced commercial expansion of Yalos™ bio-inoculant to
winter wheat.
REHOVOT, Israel, Aug. 22,
2024 /PRNewswire/ -- Evogene Ltd. (Nasdaq:
EVGN) (TASE: EVGN), a leading computational biology company aiming
to revolutionize the development of life-science-based products,
today announced its financial results for the second quarter period
ended June 30, 2024.
Mr. Ofer Haviv, Evogene's
President and CEO, stated: "In our vision, we see Evogene as a
pioneering company for creating groundbreaking
life-science products, to improve life quality and longevity.
During the past years we developed three innovative AI tech-engines
addressing the main development challenges of products rooted in
microbes, small molecules and genomics. Our AI tech-engines were
structured to be compatible with the tremendous potential of
various market segments and not limited to only one specific
segment.
"In order to capture the value of our AI tech-engines, our
business strategy is to establish diverse collaborative
partnerships through licensing or collaboration, with expert
partners in specific fields that complement our technology.
Together, we'll develop novel products, aiming for full or partial
ownership upon project completion. This approach maximizes the
potential of our AI tech-engines, while aiming to reduce financial
and development risks. Today, Evogene has 4 subsidiaries, each
focusing on a different market segment, and in addition, Evogene
has diverse engagements with leading companies in additional market
segments, not covered by our subsidiaries.
"I am very pleased to share with you the main achievements made
by Evogene's subsidiaries from the last report of our
financial results."
Casterra Ag Ltd. – focuses on developing an integrated
solution to enable large-scale commercial cultivation of castor to
address the global demand for stable castor oil supply, mainly for
the biodiesel industry. Casterra is utilizing Evogene's
GeneRator AI tech engine to direct and accelerate the
development of its unique elite castor seed varieties.
- On June 25, Casterra announced receiving a $440K purchase order to supply castor seeds to a
new African country in 2024. This order from an existing customer
expands Casterra's operations and strengthens its position in the
bio-fuel market.
- On July 31, Casterra announced the successful completion
of its castor seed growing and harvesting season in Brazil, with shipments planned for the third
quarter of 2024. Additionally, the castor harvest season in
Africa has begun as
scheduled.
- Castor seeds produced in 2024 in both Brazilian and African
territories are expected to enable Casterra to meet all its
existing orders, amounting to approximately $8.4M, with completion anticipated by the end of
this year.
Lavie Bio Ltd. – a leading ag-biologicals company
that develops microbiome-based, computational-driven novel
bio-stimulant and bio-pesticide products, utilizing
Evogene's MicroBoost AI tech-engine.
- On July 2, Lavie Bio announced the commercial expansion of
its bio-inoculant Yalos™ to winter wheat following successful
trials, with sales starting across the US for the 2024-2025 season,
effectively doubling its market potential.
- On July 22, 2024, Lavie Bio
announced a milestone in its collaboration with ICL in
developing bio-stimulant solutions for row crops facing extreme
weather conditions by leveraging AI to identify over a dozen novel
microbes within 12 months.
- Lavie Bio's pipeline is
advancing according to plan, with field trials initiated in Q2 in
most of the company's programs, following successful optimization
processes. Results are expected during Q4.
Biomica Ltd. – a clinical-stage biopharmaceutical
company developing innovative microbiome-based therapeutics,
utilizing Evogene's MicroBoost AI tech-engine.
- On May 23, positive safety and
tolerability data for BMC128 was published. 72% of the patients
treated have exhibited clinical benefits. 55% of patients showed
sustained clinical benefit, with notable durations of effect
(more than 24 months).
- These clinical results were presented at the prestigious
2024 ASCO annual conference in June.
- We look forward to continuing to evaluate BMC128's beneficial
activity in subsequent phases of clinical development.
Financial Highlights:
Cash Position: As of June 30,
2024, Evogene held consolidated cash, cash equivalents, and
short-term bank deposits of approximately $20.9 million. This amount does not include
$8.4 million of expected payments for
the open purchase orders of Casterra. The consolidated cash usage
during the second quarter of 2024 was approximately $5.7 million. Excluding Lavie Bio and Biomica, Evogene and its other
subsidiaries used approximately $2.7
million in cash during the second quarter of 2024. Projected
cash usage for 2024, excluding Lavie
Bio and Biomica, is expected to be around $8.0 million, marking a notable 36% decrease from
approximately $12.5 million in
2023.
Revenue: Revenues for the first half of 2024 were
approximately $5.1 million, a
significant increase from $1.3
million in the same period the previous year. This growth
was primarily driven by revenues recognized from Lavie Bio's licensing agreement with Corteva and
AgPlenus's new collaboration with Bayer. Revenues for the second
quarter of 2024 were approximately $0.9
million, compared to approximately $0.7 million in the same period the previous
year. The increase was mainly attributable to increased revenue in
Lavie Bio.
Evogene anticipates continued revenue growth in the second
half of 2024 compared to the previous year, mainly based on
Casterra's forecast for seed-order supply.
R&D Expenses: Research and development expenses, net
of non-refundable grants, for the first half of 2024 were
approximately $8.8 million, a
decrease from $10.2 million in the
first half of 2023. The decrease in expenses is mainly due to the
cease of Canonic's activities and a decrease in certain development
expenses in Biomica as compared to the same period the previous
year. Research and development expenses, net of non-refundable
grants, for the second quarter of 2024 were approximately
$4.0 million, and decreased
significantly as compared to approximately $5.4 million in the same period in the previous
year. The decrease is mainly attributable to decreased expenses in
Canonic and Biomica, as mentioned above.
Sales and Marketing Expenses: Sales and Marketing
expenses for the first half of 2024 were approximately
$1.9 million, a slight increase from
approximately $1.7 million in the
same period in the previous year. The increase is mainly
attributable to increased sales and marketing activities in
Casterra during the first half of 2024 as compared to the same
period in 2023. Sales and Marketing expenses for the second quarter
of 2024 were approximately $0.9
million and remained stable as compared to approximately
$0.9 million in the same period in
the previous year.
General and Administrative Expenses: General and
administrative expenses for the first half of 2024 decreased
slightly to approximately $3.2
million from approximately $3.3
million in the same period last year. General and
administrative expenses for the second quarter of 2024 decreased to
approximately $1.5 million compared
to approximately $1.8 million in the
same period of the previous year, mainly due to decreased non-cash
compensation and salary related expenses in Lavie Bio and Biomica, respectively, in the
second quarter of 2024.
Other Expenses: The decision to cease Canonic's
operations in the first half of 2024 resulted in other expenses of
approximately $0.5 million, mainly
due to impairment of fixed assets in the first quarter of 2024.
Operating Loss: The operating loss for the first half of
2024 was approximately $10.2 million,
a significant decrease from approximately $14.7 million in the same period of the previous
year, mainly due to increased revenues as mentioned above. The
operating loss for the second quarter of 2024 was approximately
$6.1 million, a decrease from
$7.9 million in the same period of
the previous year, mainly due to decreased operating expenses as
mentioned above.
Financing Income: Financing income, net for the first
half of 2024 was $379 thousand,
compared to financing expenses, net of $86
thousand in the same period of the previous year. This
increase was primarily due to increased interest income and a
revaluation of convertible SAFE. Financing income, net for the
second quarter of 2024 was $138
thousand, compared to financing income, net of $144 thousand in the same period of the previous
year.
Net Loss: The net loss for the first half of 2024 was
approximately $9.8 million, compared
to approximately $14.8 million in the
same period last year. The $5.0
million decrease in net loss was primarily due to increased
revenues, decreased operating expenses, partially offset by the
one-time $0.5 million of other
expenses, related to ceasing Canonic's operations and an increase
in financial income. The net loss for the second quarter of 2024
was approximately $6.0 million,
compared to approximately $7.8
million in the same period last year. The $1.8 million decrease in net loss was primarily
due to decreased operating expenses as mentioned above.
For the financial tables click here.
Conference Call & Webcast Details: Thursday, August 22, 2024.
9:00 AM EST 4:00 PM
IDT
To join the Zoom conference, please register in
advance here.
Or join via audio
Or, dial from the US:
+15642172000, from Israel:
+972 3 978 6688
Webinar ID: 842 8320 2980
More International
numbers
Webcast & Presentation link available at:
https://evogene.com/investor-relations
About Evogene Ltd.
Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN) is a computational
biology company leveraging big data and artificial intelligence,
aiming to revolutionize the development of life-science based
products by utilizing cutting-edge technologies to increase the
probability of success while reducing development time and
cost.
Evogene established three unique tech-engines – MicroBoost
AI, ChemPass AI and GeneRator AI. Each tech-engine is focused
on the discovery and development of products based on one of the
following core components: microbes (MicroBoost AI), small
molecules (ChemPass AI), and genetic elements (GeneRator
AI).
Evogene uses its tech-engines to develop products through
strategic partnerships and collaborations, and its
four subsidiaries including:
- Biomica Ltd. (www.biomicamed.com) – developing and advancing
novel microbiome-based therapeutics to treat human disorders
powered by MicroBoost AI;
- Lavie Bio (www.lavie-bio.com) –
developing and commercially advancing, microbiome based
ag-biologicals powered by MicroBoost AI;
- AgPlenus Ltd. (www.agplenus.com) – developing next generation
ag-chemicals for effective and sustainable crop protection powered
by ChemPass AI;
- Casterra Ag (www.casterra.co) – developing and marketing
superior castor seed varieties producing high yield and high-grade
oil content, on an industrial scale for the biofuel and other
industries powered by GeneRator AI.
For more information, please visit: www.evogene.com.
Forward-Looking Statements
This press release contains "forward-looking statements"
relating to future events. These statements may be identified by
words such as "may", "could", "expects", "hopes" "intends",
"anticipates", "plans", "believes", "scheduled", "estimates",
"demonstrates" or words of similar meaning. For example, Evogene
and its subsidiaries are using forward-looking statements in this
press release when they discuss Evogene's strategy, Evogene's
ability to develop novel products, that Evogene's strategy will
result groundbreaking innovations and significant financial gains
for Evogene, Casterra's ability to supply all existing purchase
orders by the end of 2024, Lavie
Bio's market potential, Lavie
Bio's pipeline advancement, Biomica's BMC128's future
beneficial activity, and Evogene's projected cash usage for 2024
and Evogene anticipated continued revenue growth in the second
half of 2024. Such statements are based on current expectations,
estimates, projections and assumptions, describe opinions about
future events, involve certain risks and uncertainties which are
difficult to predict and are not guarantees of future performance.
Therefore, actual future results, performance, or achievements of
Evogene and its subsidiaries may differ materially from what is
expressed or implied by such forward-looking statements due to a
variety of factors, many of which are beyond the control of Evogene
and its subsidiaries, including, without limitation, the current
war between Israel, Hamas and
Hezbollah and any worsening of the situation in Israel such as further mobilizations or
escalation in the northern border of Israel, and those risk factors contained in
Evogene's reports filed with the applicable securities authority.
In addition, Evogene and its subsidiaries rely, and expect to
continue to rely, on third parties to conduct certain activities,
such as their field trials and pre-clinical studies, and if these
third parties do not successfully carry out their contractual
duties, comply with regulatory requirements or meet expected
deadlines, Evogene and its subsidiaries may experience significant
delays in the conduct of their activities. Evogene and its
subsidiaries disclaim any obligation or commitment to update these
forward-looking statements to reflect future events or developments
or changes in expectations, estimates, projections and
assumptions.
Logo: https://mma.prnewswire.com/media/1947468/Evogene_Logo.jpg
Evogene Investors Relations Contact:
Email:
ir@evogene.com
Tel: +972-8-9311901
|
CONSOLIDATED INTERIM
STATEMENTS OF FINANCIAL POSITION
U.S. dollars in thousands
|
|
|
|
|
|
|
|
June
30,
|
|
December
31,
|
|
|
2024
|
|
2023
|
|
|
Unaudited
|
|
Audited
|
|
CURRENT
ASSETS:
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
9,484
|
|
$
20,772
|
|
Short-term bank
deposits
|
|
11,424
|
|
10,291
|
|
Trade
receivables
|
|
376
|
|
357
|
|
Other receivables and
prepaid expenses
|
|
3,696
|
|
2,973
|
|
Inventories
|
|
794
|
|
76
|
|
|
|
|
|
|
|
25,774
|
|
34,469
|
|
LONG-TERM
ASSETS:
|
|
|
|
|
|
Long-term deposits
and other receivables
|
|
30
|
|
28
|
|
Investment accounted
for using the equity method
|
|
100
|
|
-
|
|
Right-of-use-assets
|
|
729
|
|
980
|
|
Property, plant and
equipment, net
|
|
1,650
|
|
2,455
|
|
Intangible assets,
net
|
|
12,685
|
|
13,169
|
|
|
|
|
|
|
|
15,194
|
|
16,632
|
|
|
|
|
|
|
|
$
40,968
|
|
$
51,101
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
|
Trade
payables
|
|
$
957
|
|
$
1,785
|
|
Employees and payroll
accruals
|
|
2,333
|
|
2,537
|
|
Lease
liability
|
|
558
|
|
853
|
|
Liabilities in
respect of government grants
|
|
681
|
|
388
|
|
Deferred revenues and
other advances
|
|
548
|
|
362
|
|
Other
payables
|
|
816
|
|
1,019
|
|
|
|
|
|
|
|
5,893
|
|
6,944
|
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
|
Lease
liability
|
|
252
|
|
285
|
|
Liabilities in
respect of government grants
|
|
4,247
|
|
4,426
|
|
Deferred revenues and
other advances
|
|
244
|
|
393
|
|
Convertible
SAFE
|
|
10,392
|
|
10,368
|
|
|
|
|
|
|
|
15,135
|
|
15,472
|
|
SHAREHOLDERS'
EQUITY:
|
|
|
|
|
|
Ordinary shares of
NIS 0.2 par value:
Authorized −
15,000,000 ordinary shares; Issued and outstanding − 5,096,760
shares as of
June 30, 2024, and 5,079,313 (*) shares as of December 31,
2023
|
|
287
|
|
286
|
|
Share premium and
other capital reserve
|
|
269,648
|
|
269,353
|
|
Accumulated
deficit
|
|
(266,868)
|
|
(257,586)
|
|
|
|
|
|
|
Equity attributable
to equity holders of the Company
|
|
3,067
|
|
12,053
|
|
|
|
|
|
|
Non-controlling
interests
|
|
16,873
|
|
16,632
|
|
|
|
|
|
|
Total
equity
|
|
19,940
|
|
28,685
|
|
|
|
|
|
|
|
$
40,968
|
|
$
51,101
|
|
(*) Shares and per
share amounts have been retroactively adjusted to reflect the
reverse stock split
|
|
|
|
|
|
CONSOLIDATED INTERIM
STATEMENTS OF PROFIT OR LOSS
U.S. dollars in thousands (except share and per share
amounts)
|
|
|
|
Six months ended
June 30,
|
|
Three months ended
June 30,
|
|
Year ended
December 31,
|
|
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
2023
|
|
|
Unaudited
|
|
Audited
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$
5,104
|
|
$
1,295
|
|
$ 914
|
|
$654
|
|
$
5,640
|
|
Cost of
revenues
|
|
847
|
|
783
|
|
537
|
|
461
|
|
1,692
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
4,257
|
|
512
|
|
377
|
|
193
|
|
3,948
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development, net
|
|
8,817
|
|
10,169
|
|
4,016
|
|
5,369
|
|
20,777
|
|
Sales and
marketing
|
|
1,920
|
|
1,728
|
|
928
|
|
928
|
|
3,611
|
|
General and
administrative
|
|
3,184
|
|
3,312
|
|
1,530
|
|
1,797
|
|
6,068
|
|
Other
expenses
|
|
524
|
|
-
|
|
5
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses, net
|
|
14,445
|
|
15,209
|
|
6,479
|
|
8,094
|
|
30,456
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
loss
|
|
(10,188)
|
|
(14,697)
|
|
(6,102)
|
|
(7,901)
|
|
(26,508)
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing
income
|
|
667
|
|
699
|
|
260
|
|
391
|
|
1,486
|
|
Financing
expenses
|
|
(288)
|
|
(785)
|
|
(122)
|
|
(247)
|
|
(965)
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing income
(expenses), net
|
|
379
|
|
(86)
|
|
138
|
|
144
|
|
521
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of loss from
equity accounted investment
|
|
(20)
|
|
-
|
|
(20)
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before taxes on
income
|
|
(9,829)
|
|
(14,783)
|
|
(5,984)
|
|
(7,757)
|
|
(25,987)
|
|
Taxes on income (tax
benefit)
|
|
1
|
|
(24)
|
|
1
|
|
21
|
|
(33)
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss
|
|
$ (9,830)
|
|
$ (14,759)
|
|
$
(5,985)
|
|
$(7,778)
|
|
$
(25,954)
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable
to:
|
|
|
|
|
|
|
|
|
|
|
|
Equity holders of the
Company
|
|
$ (9,282)
|
|
$ (13,294)
|
|
$
(5,419)
|
|
$
(7,023)
|
|
$
(23,879)
|
|
Non-controlling
interests
|
|
(548)
|
|
(1,465)
|
|
(566)
|
|
(755)
|
|
(2,075)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ (9,830)
|
|
$ (14,759)
|
|
$
(5,985)
|
|
$(7,778)
|
|
$
(25,954)
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted
loss per share, attributable to equity holders of
the Company (*)
|
|
$
(1.82)
|
|
$
(3.18)
|
|
$ (1.06)
|
|
$(1.68)
|
|
$ (5.20)
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in computing basic and
diluted loss per share (*)
|
|
5,087,029
|
|
4,177,554
|
|
5,090,993
|
|
4,185,242
|
|
4,589,386
|
|
|
|
|
|
|
|
|
|
|
|
|
(*) Shares and per
share amounts have been retroactively adjusted to reflect the
reverse stock split
|
|
CONSOLIDATED INTERIM
STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
|
|
|
|
Six months ended
June 30,
|
|
Three months ended
June 30,
|
|
Year ended
December 31,
|
|
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
2023
|
|
|
Unaudited
|
|
Audited
|
|
Cash flows from
operating activities
|
|
|
|
|
|
|
|
|
|
|
|
Loss
|
|
$
(9,830)
|
|
$
(14,759)
|
|
$
(5,985)
|
|
$ (7,778)
|
|
$ (25,954)
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments to
reconcile loss to net cash used in operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments to the
profit or loss items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation
|
|
800
|
|
807
|
|
374
|
|
406
|
|
1,641
|
|
Amortization of
intangible assets
|
|
484
|
|
481
|
|
239
|
|
241
|
|
971
|
|
Share-based
compensation
|
|
999
|
|
1,219
|
|
460
|
|
801
|
|
1,877
|
|
Revaluation of
convertible SAFE
|
|
24
|
|
220
|
|
49
|
|
26
|
|
254
|
|
Net financing
expenses (income)
|
|
(222)
|
|
6
|
|
(28)
|
|
60
|
|
(666)
|
|
Loss (gain) from sale
of property, plant and equipment
|
|
524
|
|
(26)
|
|
5
|
|
-
|
|
(26)
|
|
Share of loss from
equity accounted investment
|
|
20
|
|
-
|
|
20
|
|
-
|
|
-
|
|
Taxes on income (tax
benefit)
|
|
1
|
|
(24)
|
|
1
|
|
21
|
|
(33)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,630
|
|
2,683
|
|
1,120
|
|
1,555
|
|
4,018
|
|
Changes in asset and
liability items:
|
|
|
|
|
|
|
|
|
|
|
|
Decrease (increase)
in trade receivables
|
|
(19)
|
|
170
|
|
163
|
|
72
|
|
(9)
|
|
Decrease (increase)
in other receivables
|
|
(725)
|
|
84
|
|
(546)
|
|
375
|
|
(1,445)
|
|
Decrease (increase)
in inventories
|
|
(718)
|
|
317
|
|
(78)
|
|
342
|
|
490
|
|
Decrease in deferred
taxes
|
|
-
|
|
-
|
|
-
|
|
-
|
|
94
|
|
Increase (decrease)
in trade payables
|
|
(762)
|
|
26
|
|
(77)
|
|
(95)
|
|
742
|
|
Increase (decrease)
in employees and payroll accruals
|
|
(204)
|
|
172
|
|
(99)
|
|
117
|
|
550
|
|
Increase (decrease)
in other payables
|
|
(214)
|
|
(162)
|
|
(153)
|
|
297
|
|
(534)
|
|
Increase (decrease)
in deferred revenues and other advances
|
|
(84)
|
|
(73)
|
|
(13)
|
|
(81)
|
|
(288)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,726)
|
|
534
|
|
(803)
|
|
1,027
|
|
(400)
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash received (paid)
during the period for:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
received
|
|
402
|
|
283
|
|
231
|
|
145
|
|
905
|
|
Interest
paid
|
|
(41)
|
|
(66)
|
|
(18)
|
|
(30)
|
|
(115)
|
|
Taxes paid
|
|
-
|
|
(10)
|
|
-
|
|
(10)
|
|
(31)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in
operating activities
|
|
$
(9,565)
|
|
$
(11,335)
|
|
$
(5,455)
|
|
$ (5,091)
|
|
$ (21,577)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED INTERIM
STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
|
|
|
|
Six months ended
June 30,
|
|
Three months ended
June 30,
|
|
Year ended
December 31,
|
|
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
2023
|
|
|
Unaudited
|
|
Audited
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of property,
plant and equipment
|
|
$
(172)
|
|
(483)
|
|
(31)
|
|
(124)
|
|
$
(785)
|
|
Proceeds from sale of
marketable securities
|
|
-
|
|
6,924
|
|
-
|
|
6,287
|
|
6,924
|
|
Purchase of
marketable securities
|
|
-
|
|
(503)
|
|
-
|
|
(503)
|
|
(503)
|
|
Proceeds from sale of
property, plant and equipment
|
|
10
|
|
26
|
|
-
|
|
-
|
|
26
|
|
Withdrawal from
(investment in) bank deposits, net
|
|
(990)
|
|
(13,560)
|
|
3,241
|
|
(13,560)
|
|
(10,200)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) investing activities
|
|
$
(1,152)
|
|
$
(7,596)
|
|
$
3,210
|
|
$ (7,900)
|
|
$ (4,538)
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of a
subsidiary preferred shares to non-controlling interests
|
|
-
|
|
9,523
|
|
-
|
|
9,523
|
|
9,523
|
|
Proceeds from
issuance of ordinary shares, net of issuance expenses
|
|
86
|
|
336
|
|
83
|
|
68
|
|
8,449
|
|
Repayment of lease
liability
|
|
(462)
|
|
(413)
|
|
(231)
|
|
(207)
|
|
(836)
|
|
Proceeds from
government grants
|
|
-
|
|
1,089
|
|
-
|
|
1,063
|
|
1,089
|
|
Repayment of
government grants
|
|
(142)
|
|
(35)
|
|
(3)
|
|
-
|
|
(73)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) financing activities
|
|
(518)
|
|
10,500
|
|
(151)
|
|
10,447
|
|
18,152
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange rate
differences - cash and cash equivalent balances
|
|
(53)
|
|
(316)
|
|
(35)
|
|
(223)
|
|
(245)
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in cash and
cash equivalents
|
|
(11,288)
|
|
(8,747)
|
|
(2,431)
|
|
(2,767)
|
|
(8,208)
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents, beginning of the period
|
|
20,772
|
|
28,980
|
|
11,915
|
|
23,000
|
|
28,980
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents, end of the period
|
|
$
9,484
|
|
$
20,233
|
|
$
9,484
|
|
$
20,233
|
|
$ 20,772
|
|
|
|
|
|
|
|
|
|
|
|
|
Significant non-cash
activities
|
|
|
|
|
|
|
|
|
|
|
|
Acquisition of
property, plant and equipment
|
|
$
15
|
|
$
90
|
|
$
15
|
|
$
21
|
|
$
81
|
|
Investment in
equity-accounted investee with corresponding
deferred revenues
|
|
$ 120
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
Increase of
right-of-use asset recognized with corresponding
lease liability
|
|
$
184
|
|
$
135
|
|
$
54
|
|
$
64
|
|
$
194
|
View original
content:https://www.prnewswire.com/news-releases/evogene-reports-second-quarter-2024-financial-results-302228513.html
SOURCE Evogene