The following is a summary of the Evogene Ltd. (EVGN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Evogene reported total revenue of approximately $4.2 million in Q1 2024, a significant increase from $0.6 million in Q1 2023.

• Loss reduced to $3.8 million in Q1 2024, showing a decrease of 46% from the $7 million in Q1 2023.

• Estimated cash use for 2024 excluding Biomica and Lavie Bio is predicted to be around $8 million, a 36% decrease year-over-year.

• The closure of Canonic's operation was finalized, resulting in an annualized saving of $1.5 million.

Business Progress:

• Partnerships with Verb Biotics and The Kitchen FoodTech Hub have been established and Finally Foods has been set up.

• Casterra secured agreements with African and Brazilian seed growers to fulfill standing orders by the end of 2024.

• Launch of Phase I clinical trial results for Biomica's BMC128 microbiome therapeutics at the 2024 ASCO Conference is in pipeline.

• Lavie Bio initiated a new collaboration with Syngenta and received $2.5 million from Corteva.

• AgPlenus announced a new collaboration with Bayer as operations of Canonic ceased due to challenging market conditions in the medical cannabis sector.

• Evogene is planning to build an inventory for 2025, resourced initially by Evogene and later by partners' revenues.

• The company conveys confidence in the uniqueness and versatility of their Computational Biology Platform (CBP) technology, aiming to enhance it through increasing number of partnerships.

More details: Evogene IR

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