Date: November 15, 2023 |
|
EVOGENE LTD.
(Registrant) By: /s/ Yaron Eldad Yaron Eldad Chief Financial Officer |
EXHIBIT NO.
|
DESCRIPTION
|
-
|
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;
|
-
|
Canonic (www.canonicbio.com) – developing medical cannabis products based on decoding plant genetics for optimized therapeutic effect powered by GeneRator
AI; and
|
-
|
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.
|
Page
|
|
2
|
|
3
|
|
4-5
|
September 30,
|
December 31,
|
|||||||
2023
|
2022
|
|||||||
Unaudited
|
Audited
|
|||||||
CURRENT ASSETS:
|
||||||||
Cash and cash equivalents
|
$
|
27,331
|
$
|
28,980
|
||||
Marketable securities
|
-
|
6,375
|
||||||
Short-term bank deposits
|
9,896
|
-
|
||||||
Trade receivables
|
1,345
|
348
|
||||||
Other receivables and prepaid expenses
|
1,870
|
1,482
|
||||||
Inventories
|
113
|
566
|
||||||
40,555
|
37,751
|
|||||||
LONG-TERM ASSETS:
|
||||||||
Other receivables
|
106
|
74
|
||||||
Deferred taxes
|
10
|
94
|
||||||
Right-of-use-assets
|
1,126
|
1,568
|
||||||
Property, plant and equipment, net
|
2,535
|
2,499
|
||||||
Intangible assets, net
|
13,414
|
14,140
|
||||||
17,191
|
18,375
|
|||||||
$
|
57,746
|
$
|
56,126
|
|||||
CURRENT LIABILITIES:
|
||||||||
Trade payables
|
$
|
1,176
|
$
|
1,036
|
||||
Employees and payroll accruals
|
2,059
|
1,987
|
||||||
Lease liability
|
854
|
884
|
||||||
Liabilities in respect of government grants
|
634
|
79
|
||||||
Deferred revenues and other advances
|
739
|
22
|
||||||
Other payables
|
1,022
|
1,617
|
||||||
6,484
|
5,625
|
|||||||
LONG-TERM LIABILITIES:
|
||||||||
Lease liability
|
387
|
932
|
||||||
Liabilities in respect of government grants
|
4,227
|
4,665
|
||||||
Other advances
|
494
|
-
|
||||||
Convertible SAFE
|
10,291
|
10,114
|
||||||
15,399
|
15,711
|
|||||||
SHAREHOLDERS' EQUITY:
|
||||||||
Ordinary shares of NIS 0.02 par value:
Authorized − 150,000,000 ordinary shares; Issued and outstanding – 50,549,812 shares as of September 30, 2023 and 41,260,439 shares as of
December 31, 2022
|
286
|
235
|
||||||
Share premium and other capital reserve
|
269,209
|
261,402
|
||||||
Accumulated deficit
|
(250,985
|
)
|
(233,707
|
)
|
||||
Equity attributable to equity holders of the Company
|
18,510
|
27,930
|
||||||
Non-controlling interests
|
17,353
|
6,860
|
||||||
Total equity
|
35,863
|
34,790
|
||||||
$
|
57,746
|
$
|
56,126
|
Nine months ended
September 30,
|
Three months ended
September 30,
|
Year ended
December 31,
|
||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||
Unaudited
|
Audited
|
|||||||||||||||||||
Revenues
|
$
|
5,062
|
$
|
1,015
|
$
|
3,767
|
$
|
466
|
$
|
1,675
|
||||||||||
Cost of revenues
|
1,294
|
545
|
511
|
120
|
909
|
|||||||||||||||
Gross profit
|
3,768
|
470
|
3,256
|
346
|
766
|
|||||||||||||||
Operating expenses (income):
|
||||||||||||||||||||
Research and development, net
|
15,232
|
16,039
|
5,063
|
4,996
|
20,792
|
|||||||||||||||
Sales and marketing
|
2,578
|
2,765
|
850
|
895
|
3,933
|
|||||||||||||||
General and administrative
|
4,838
|
4,825
|
1,526
|
1,552
|
6,482
|
|||||||||||||||
Other income
|
-
|
-
|
-
|
-
|
(3,500
|
)
|
||||||||||||||
Total operating expenses, net
|
22,648
|
23,629
|
7,439
|
7,443
|
27,707
|
|||||||||||||||
Operating loss
|
(18,880
|
)
|
(23,159
|
)
|
(4,183
|
)
|
(7,097
|
)
|
(26,941
|
)
|
||||||||||
Financing income
|
1,128
|
679
|
429
|
194
|
516
|
|||||||||||||||
Financing expenses
|
(894
|
)
|
(3,498
|
)
|
(109
|
)
|
(255
|
)
|
(3,329
|
)
|
||||||||||
Financing income (expenses), net
|
234
|
(2,819
|
)
|
320
|
(61
|
)
|
(2,813
|
)
|
||||||||||||
Loss before taxes on income
|
(18,646
|
)
|
(25,978
|
)
|
(3,863
|
)
|
(7,158
|
)
|
(29,754
|
)
|
||||||||||
Taxes on income (tax benefit)
|
(29
|
)
|
45
|
(5
|
)
|
5
|
90
|
|||||||||||||
Loss
|
$
|
(18,617
|
)
|
$
|
(26,023
|
)
|
$
|
(3,858
|
)
|
$
|
(7,163
|
)
|
$
|
(29,844
|
)
|
|||||
Attributable to:
|
||||||||||||||||||||
Equity holders of the Company
|
(17,278
|
)
|
(23,640
|
)
|
(3,984
|
)
|
(6,544
|
)
|
(26,638
|
)
|
||||||||||
Non-controlling interests
|
(1,339
|
)
|
(2,383
|
)
|
126
|
(619
|
)
|
(3,206
|
)
|
|||||||||||
$
|
(18,617
|
)
|
$
|
(26,023
|
)
|
$
|
(3,858
|
)
|
$
|
(7,163
|
)
|
$
|
(29,844
|
)
|
||||||
Basic and diluted loss per share, attributable to equity holders of the Company
|
$
|
(0.39
|
)
|
$
|
(0.57
|
)
|
$
|
(0.08
|
)
|
$
|
(0.16
|
)
|
$
|
(0.65
|
)
|
|||||
Weighted average number of shares used in computing basic and diluted loss per share
|
44,028,642
|
41,202,049
|
48,922,553
|
41,215,944
|
41,210,184
|
Nine months ended
September 30,
|
Three months ended
September 30,
|
Year ended
December 31,
|
||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||
Unaudited
|
Audited
|
|||||||||||||||||||
Cash flows from operating activities:
|
||||||||||||||||||||
Loss
|
$
|
(18,617
|
)
|
$
|
(26,023
|
)
|
$
|
(3,858
|
)
|
$
|
(7,163
|
)
|
$
|
(29,844
|
)
|
|||||
Adjustments to reconcile loss to net cash used in operating activities:
|
||||||||||||||||||||
Adjustments to the profit or loss items:
|
||||||||||||||||||||
Depreciation
|
1,223
|
1,117
|
416
|
400
|
1,513
|
|||||||||||||||
Amortization of intangible assets
|
726
|
822
|
245
|
245
|
1,067
|
|||||||||||||||
Share-based compensation
|
1,764
|
895
|
545
|
65
|
1,186
|
|||||||||||||||
Increase (decrease) in convertible SAFE
|
177
|
-
|
(43
|
)
|
-
|
114
|
||||||||||||||
Net financing expenses (income)
|
(206
|
)
|
3,128
|
(212
|
)
|
(11
|
)
|
2,979
|
||||||||||||
Decrease in accrued bank interest
|
-
|
7
|
-
|
-
|
7
|
|||||||||||||||
Gain from sale of property, plant and equipment
|
(26
|
)
|
-
|
-
|
-
|
-
|
||||||||||||||
Taxes on income (tax benefit)
|
(29
|
)
|
45
|
(5
|
)
|
5
|
90
|
|||||||||||||
3,629
|
6,014
|
946
|
704
|
6,956
|
||||||||||||||||
Changes in asset and liability items:
|
||||||||||||||||||||
Increase in trade receivables
|
(997
|
)
|
(171
|
)
|
(1,167
|
)
|
(341
|
)
|
(67
|
)
|
||||||||||
Decrease (increase) in other receivables
|
(420
|
)
|
443
|
(504
|
)
|
(20
|
)
|
1,113
|
||||||||||||
Decrease (increase) in inventories
|
453
|
(73
|
)
|
136
|
(3
|
)
|
(474
|
)
|
||||||||||||
Increase in deferred taxes
|
-
|
-
|
-
|
-
|
(94
|
)
|
||||||||||||||
Increase (decrease) in trade payables
|
179
|
(600
|
)
|
153
|
(428
|
)
|
(469
|
)
|
||||||||||||
Increase (decrease) in employees and payroll accruals
|
72
|
(338
|
)
|
(100
|
)
|
(60
|
)
|
(675
|
)
|
|||||||||||
Increase (decrease) in other payables
|
(467
|
)
|
(586
|
)
|
(305
|
)
|
7
|
48
|
||||||||||||
Increase (decrease) in deferred revenues and other advances
|
190
|
185
|
263
|
344
|
(153
|
)
|
||||||||||||||
(990
|
)
|
(1,140
|
)
|
(1,524
|
)
|
(501
|
)
|
(771
|
)
|
|||||||||||
Cash received (paid) during the period for:
|
||||||||||||||||||||
Interest received
|
433
|
118
|
150
|
38
|
186
|
|||||||||||||||
Interest paid
|
(92
|
)
|
(356
|
)
|
(26
|
)
|
(129
|
)
|
(165
|
)
|
||||||||||
Tax paid
|
(15
|
)
|
(34
|
)
|
(5
|
)
|
(5
|
)
|
(40
|
)
|
||||||||||
Net cash used in operating activities
|
$
|
(15,652
|
)
|
$
|
(21,421
|
)
|
$
|
(4,317
|
)
|
$
|
(7,056
|
)
|
$
|
(23,678
|
)
|
Nine months ended
September 30,
|
Three months ended
September 30,
|
Year ended
December 31,
|
||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||
Unaudited
|
Audited
|
|||||||||||||||||||
Cash flows from investing activities:
|
||||||||||||||||||||
Purchase of property, plant and equipment
|
$
|
(699
|
)
|
$
|
(972
|
)
|
$
|
(216
|
)
|
$
|
(225
|
)
|
$
|
(1,171
|
)
|
|||||
Proceeds from sale of marketable securities
|
6,924
|
12,352
|
-
|
203
|
12,356
|
|||||||||||||||
Purchase of marketable securities
|
(503
|
)
|
(659
|
)
|
-
|
-
|
(911
|
)
|
||||||||||||
Proceeds from sale of property, plant and aquipment
|
26
|
-
|
-
|
-
|
-
|
|||||||||||||||
Withdrawal from (investment in) bank deposits
|
(9,700
|
)
|
3,000
|
3,860
|
-
|
3,000
|
||||||||||||||
Net cash provided by (used in) investing activities
|
(3,952
|
)
|
13,721
|
3,644
|
(22
|
)
|
13,274
|
|||||||||||||
Cash flows from financing activities:
|
||||||||||||||||||||
Issuance of a subsidiary preferred shares to non-controlling interests
|
9,523
|
-
|
-
|
-
|
-
|
|||||||||||||||
Proceeds from issuance of ordinary shares, net of issuance expenses
|
8,404
|
-
|
8,068
|
-
|
21
|
|||||||||||||||
Proceeds from issuance of convertible SAFE
|
-
|
10,000
|
-
|
10,000
|
10,000
|
|||||||||||||||
Proceeds from exercise of options
|
-
|
7
|
-
|
-
|
7
|
|||||||||||||||
Repayment of lease liability
|
(624
|
)
|
(366
|
)
|
(211
|
)
|
126
|
(803
|
)
|
|||||||||||
Proceeds from government grants
|
1,069
|
89
|
(20
|
)
|
59
|
149
|
||||||||||||||
Repayment of government grants
|
(73
|
)
|
(31
|
)
|
(38
|
)
|
(17
|
)
|
(31
|
)
|
||||||||||
Net cash provided by financing activities
|
18,299
|
9,699
|
7,799
|
10,168
|
9,343
|
|||||||||||||||
Exchange rate differences - cash and cash equivalent balances
|
(344
|
)
|
(2,464
|
)
|
(28
|
)
|
(97
|
)
|
(2,284
|
)
|
||||||||||
Increase (decrease) in cash and cash equivalents
|
(1,649
|
)
|
(465
|
)
|
7,098
|
2,993
|
(3,345
|
)
|
||||||||||||
Cash and cash equivalents, beginning of the period
|
28,980
|
32,325
|
20,233
|
28,867
|
32,325
|
|||||||||||||||
Cash and cash equivalents, end of the period
|
$
|
27,331
|
$
|
31,860
|
$
|
27,331
|
$
|
31,860
|
$
|
28,980
|
||||||||||
Significant non-cash activities:
|
||||||||||||||||||||
Acquisition of property, plant and equipment, net
|
$
|
35
|
$
|
146
|
$
|
35
|
$
|
80
|
$
|
74
|
||||||||||
Increase (decrease) of right-of-use asset recognized with corresponding lease liability
|
$
|
135
|
$
|
19
|
$
|
-
|
$
|
(11
|
)
|
$
|
90
|