Evogene Reports First Quarter 2025 Financial Results
REHOVOT, Israel, May 21, 2025 — Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a leading computational biology company, announced its financial results for the first quarter ended March 31, 2025.
Financial Highlights:
- In the first quarter of 2025, total revenues were approximately $2.4 million, compared to approximately $4.2 million in the first quarter of 2024. The primary driver of revenue in the first quarter of 2025 was an increase in seed sales by Casterra.
- During the fourth quarter of 2024 and the beginning of 2025, Evogene established an expense reduction plan expected to be completed by the second quarter of 2025, partially reflected in the financial results of the first quarter of 2025.
- In the first quarter of 2025, total R&D expenses were approximately $3.2 million, compared to approximately $4.8 million in the first quarter of 2024, mainly due to decreased R&D activity at Biomica and Lavie Bio.
- Evogene announced the acquisition of most of the activity of Lavie Bio by ICL for $15.25 million, with completion expected during Q2 2025.
- As of the end of the first quarter of 2025, the company’s cash and short-term bank deposits balance was approximately $9.8 million, excluding expected proceeds from the sale of Lavie Bio’s assets.
Mr. Ofer Haviv, Evogene’s President and CEO, stated: “As part of our ongoing strategy to build a capital-efficient and value-driven business model, Evogene is focusing on unlocking the full potential of our ChemPass-AI tech-engine in the pharmaceutical sector and generating value from our subsidiaries.”
Subsidiary Updates:
Lavie Bio Ltd. announced the acquisition of most of its activity by ICL for $15.25 million, with completion expected during Q2 2025.
Casterra Ag Ltd. delivered approximately 250 tons of castor seeds to a partner in Africa, surpassing the approximately 215 tons delivered in 2024.
AgPlenus Ltd. discovered a new mode of action for fungicides against Septoria in wheat.
Biomica Ltd. is progressing with Phase I clinical study for BMC128, showing early signs of monotherapy effectiveness.
Conference Call & Webcast Details: Wednesday, May 21, 2025, 9:00 AM EST
To join the Zoom conference, please register in advance here.
For more information, please visit: www.evogene.com.