Evogene Ltd. EVGN EVGN Revenue for the second quarter of 2022 was $312,000, an increase of 131% compared to $135,000 for the same period last year. Revenues were primarily due to the initial sale of Lavie Bio‘s trivus Product (formerly branded as result) and sales of Canonical Products on the Israeli market.

Financial Highlights of Q2 2022

• NThe net loss was $9.8 million compared to a net loss of $6.9 million in the same period last year.

• R&D expenditure for the quarter presented net of non-refundable grants received $5.4 million, compared to $5.0 million for the same period last year. The increase in R&D expenses was mainly due to the following:

  
  

  • Biomica ongoing Phase I study of its first human proof-of-concept study in its immuno-oncology program.

  • Lavie Bio’s activities support the production and marketing of its vaccine product.

• operating loss for the second quarter of 2022 $8.0 million compared to $7.4 million in the same period last year.

• Evogene continues to maintain a solid financial position for its operations $35.3 million in consolidated cash, money-related accounts and marketable securities as of June 30, 2022. Approximately $3.6 million of Evogene’s consolidated cash is allocated to subsidiary Lavie Bio. That cThe company has no bank debt. It should be noted that these amounts do not include the most recent 10 million dollar investment from ICL ICL in Lavie Bio, which was received in full in August 2022 and will be reflected in the Company’s third quarter results.

Ofer HabivPresident and CEO of Evogene, stated, “We are very pleased with the two important developments that have taken place within the Evogene Group: namely the strategic collaboration and the US$10 million investment by ICL, a world leader in specialty minerals , into our subsidiary, Lavie Bio; as well as the start of the first phase I in clinical human medicine…