Evogene Reports First Quarter 2026 Financial Results

Evogene Reports First Quarter 2026 Financial Results Conference call and webcast: today, May 20, 2026, 9:00 AM ET

REHOVOT, Israel, May 20, 2026 /PRNewswire/ -- Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a pioneering company in computational chemistry specializing in the generative AI design of small molecules for the pharmaceutical and agricultural industries, today announced its financial results for the first quarter ended March 31, 2026.

Mr. Ofer Haviv, President & CEO of Evogene, stated: "Following the strategic transformation initiated in 2025, we are now focused on execution and advancing our tech engine for small-molecule discovery and optimization, ChemPass AI™, and expanding our product pipeline in pharma and agriculture, through collaborations and continued progress in our internal programs.

ChemPass AI™'s competitive advantage lies in its ability to generate novel molecules while optimizing multiple critical parameters from the earliest stages of design. We continue to enhance the platform through internal development and collaboration with tech companies. In February 2026, we were proud to announce a second collaboration with Google Cloud focused on integrating advanced AI agents into ChemPass AI™, aimed at automating the generation of unique datasets from complex scientific workflows, thereby enabling new capabilities in small-molecule discovery and optimization.

Our proprietary small-molecule candidates are designed to combine three key advantages: novel and diverse chemical structures, multi-parameter optimization from the earliest design stages, and high potency supported by targeted experimental validation.

In pharma, we significantly expanded our activity during the first quarter of 2026, announcing three new collaborations with biotech companies and academic institutions:

These additions bring the total number of publicly disclosed collaborations in this domain to four.

In agriculture, our AgPlenus subsidiary continues to advance novel herbicide programs through our collaboration with Corteva. In parallel, our internal fungicide program has demonstrated strong progress and is advancing through lead optimization, highlighting the effectiveness of integrating AI-driven design with iterative experimental validation. Regarding our collaboration with Bayer, AgPlenus and Bayer have decided to discontinue their herbicide development project following determination that the target protein did not meet the required product criteria. Under the terms of the termination, all assets licensed to Bayer under the collaboration, including the APTH1 protein target and associated active molecules, will revert to AgPlenus."

"Looking ahead, we expect continued progress across all three of the Company's core business areas, supporting our growth trajectory and long-term value creation," said Mr. Haviv. "We are expanding technological collaborations to strengthen our ChemPass AI TM innovation capabilities, advancing our pharmaceutical and ag-chemical pipelines toward key milestones, establishing new strategic partnerships, and deepening relationships with leading industry players. Across all activities, we remain focused on execution, pipeline expansion, and long-term growth."

Financial Highlights:

About Evogene Ltd.

Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN) is a pioneering company in computational chemistry, specializing in the generative design of small molecules for drug development and agchemical products.

At the core of its technology is ChemPass AI TM, a proprietary generative AI designed to explore vast chemical space and generate novel, highly potent small molecules optimized across multiple critical parameters. Built on this powerful technological foundation, and through strategic partnerships alongside internal product development, Evogene is focused on creating breakthrough products for the pharmaceutical and agricultural industries, driven by the integration of scientific innovation with real-world industry needs.

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 is using forward-looking statements in this press release when it discusses Evogene's success in advancing its tech-engine for small-molecule discovery and optimization and expanding its product pipeline in pharma and agriculture, the success of Evogene's collaborations with biotech companies and academic institutions, the progress of AgPlenus' fungicide program, the expansion of technological collaborations, advancement of the Company's pharmaceutical and ag-chemical pipelines, establishment of new strategic partnerships, deeper relationships with leading industry players, and Casterra's seed sales in 2027 growing season. 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, including the aftermath of the recent war between Israel and each of (i) the terrorist groups, Hamas and Hezbollah, (ii) Iran, and (iii) other regional terrorist groups supported by Iran, and any destabilizations in Israel, neighboring territories or the Middle East region, as well as those additional risk factors identified in Evogene's reports filed with the applicable securities authority. In addition, Evogene relies, and expects 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/1947468/5978333/Evogene_Logo.jpg

Evogene Investor Relations Contact:

Email: [email protected]

Tel: +972-8-9311901

CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION

U.S. dollars in thousands

March 31,

December 31,

2026

2025

Unaudited

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$ 8,511

$ 12,956

Short-term bank deposits

4,543

Restricted cash

Trade receivables

286

317

Other receivables and prepaid expenses

1,416

1,565

Deferred expenses related to issuance of warrants

551

Inventories

175

210

14,963

15,631

LONG-TERM ASSETS:

Long-term deposits and other receivables

576

571

Investment accounted for using the equity method

Deferred expenses related to issuance of warrants

1,165

Right-of-use-assets

1,672

1,824

Property, plant and equipment, net

737

812

2,985

4,415

TOTAL ASSETS

$ 17,948

$ 20,046

LIABILITIES AND EQUITY

CURRENT LIABILITIES:

Trade payables

$ 463

$ 639

Employees and payroll accruals

922

861

Lease liabilities

654

716

Liabilities in respect of government grants

101

Deferred revenues and other advances

Warrants and pre-funded warrants liability

1,721

706

Other payables

1,482

449

5,364

3,444

LONG-TERM LIABILITIES:

Lease liabilities

1,377

1,482

Liabilities in respect of government grants

3,149

3,073

Deferred revenues and other advances

4,594

4,627

TOTAL LIABILITIES

$ 9,958

$ 8,071

CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION

U.S. dollars in thousands

SHAREHOLDERS' EQUITY:

Ordinary shares of NIS 0.2 par value:

Authorized – 30,000,000 ordinary shares; Issued and outstanding – 10,412,764 ordinary shares on March 31, 2026

and 6,672,173 ordinary shares on December 31, 2025

708

488

Share premium and other capital reserves

285,173

281,986

Accumulated deficit

(288,426)

(282,556)

Equity attributable to equity holders of the Company

(2,545)

(82)

Non-controlling interests

10,535

12,057

TOTAL EQUITY

7,990

11,975

TOTAL LIABILITIES AND EQUITY

$ 17,948

$ 20,046

CONSOLIDATED INTERIM STATEMENTS OF PROFIT OR LOSS

U.S. dollars in thousands (except share and per share amounts)

Three months ended

March 31,

Year ended

December 31,

2026

2025 (*)

2025

Unaudited

Revenues

$ 334

$ 2,343

$ 3,853

Cost of revenues:

Inventory impairment

2,180

Other cost of revenues

130

1,517

1,914

Total Cost of Revenues

130

1,517

4,094

Gross profit

204

826

(241)

Operating expenses (income):

Research and development, net

1,839

2,471

7,994

Sales and marketing

389

397

1,476

General and administrative

1,156

1,176

4,286

Other expenses (income)

(30)

(191)

Total operating expenses, net

3,354

3,853

13,793

Operating loss

(3,150)

(3,027)

(14,034)

Financing income

1,171

1,584

2,508

Financing expenses

(3,884)

(458)

(1,933)

Financing income (expenses), net

(2,713)

1,126

575

Share of loss of an associate

Loss before taxes on income

(5,906)

(1,903)

(13,498)

Taxes on income

Loss from continuing operations

(5,910)

(1,903)

(13,499)

Income (loss) from discontinued operations, net

(1,086)

5,672

Loss

$ (5,896)

$ (2,989)

$ (7,827)

Attributable to:

Equity holders of the Company

(5,870)

(2,587)

(8,485)

Non-controlling interests

(26)

(402)

658

$ (5,896)

$ (2,989)

$ (7,827)

Basic and diluted gain (loss) per share from continuing operations, attributable to equity holders of the Company

$ (0.60)

$ (0.26)

$ (1.70)

Basic and diluted gain (loss) per share from discontinued operations, attributable to equity holders of the Company

$ 0.00

$ (0.12)

$ 0.62

Basic and diluted gain (loss) per share, attributable to equity holders of the Company

$ (0.60)

$ (0.38)

$ (1.08)

Weighted average number of shares used in computing basic and diluted loss per share

9,738,434

6,798,173

7,874,039

(*) Reclassified to conform to the current period presentation, following the classification of certain operations as discontinued operations.

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

U.S. dollars in thousands

Three months ended

March 31,

Year ended

December 31,

2026

2025 (*)

2025

Unaudited

Cash flows from operating activities:

Loss from continuing operations

$ (5,910)

$ (1,903)

$ (13,499)

Adjustments to reconcile loss to net cash used in operating activities:

Adjustments to the profit or loss items:

Depreciation and amortization of property, plant and equipment and right-of-use-assets

202

310

1,144

Share-based compensation

(9)

238

654

Remeasurement of Convertible SAFE

(371)

Net financing income

(234)

(28)

Gain from sale of equipment and deduction of right-of-use asset and subsequent investment in sub-lease asset

(23)

(191)

(209)

Impairment of property, plant and equipment

246

Inventory impairment

2,180

Revaluation of government grants

Amortization of deferred expenses related to issuance of warrants

1,716

326

1,323

Expenses related to warrants inducement transaction

2,095

Remeasurement of pre-funded warrants and warrants

(1,046)

(1,477)

(1,781)

Share of loss of an associate

Taxes on income (tax benefit)

(6)

2,768

(784)

3,231

Changes in asset and liability items:

Decrease (increase) in trade receivables

(1,530)

665

Decrease in other receivables and prepaid expenses

124

1,402

1,047

Decrease (increase) in inventories

(447)

(1,019)

Decrease in trade payables

(115)

(306)

(259)

Increase (decrease) in employees and payroll accruals

(227)

(756)

Decrease in other payables

(70)

(320)

(570)

Decrease in deferred revenues and other advances

(155)

(361)

(1,583)

(1,253)

Cash received (paid) during the year for:

Interest received

137

338

Interest paid

(40)

(46)

(193)

Taxes paid

(15)

(11)

Net cash used in continuing operating activities

(2,994)

(4,221)

(11,387)

Net cash used in operating activities of discontinued operations

(961)

(2,115)

Net cash used in operating activities

(2,954)

(5,182)

(13,502)

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

U.S. dollars in thousands

Three months ended

March 31,

Year ended

December 31,

2026

2025(*)

2025

Unaudited

Cash flows from investing activities:

Purchase of property, plant and equipment

(2)

(121)

(135)

Proceeds from sale of property, plant and equipment

Proceeds from finance sub -lease asset

Withdrawal from (investment in) bank deposits, net

(4,528)

(2,327)

(1)

Net cash provided by (used in) continuing investing activities

(4,486)

(2,445)

(6)

Net cash provided by investing activities of discontinued operations

17,744

Net cash provided by investing activities

(4,486)

(2,445)

17,738

Cash flows from financing activities:

Proceeds from issuance of ordinary shares, net of issuance expenses

4,283

Proceeds from issuance of ordinary shares in warrant inducement transaction, net of issuance expenses

3,206

Repayment of lease liabilities

(121)

(146)

(526)

Proceeds from government grants

101

Dividend paid by subsidiary

(193)

Repayment of convertible SAFE

(10,000)

Repayment of government grants

(122)

(244)

Net cash provided by (used in) continuing financing activities

2,993

(268)

(6,487)

Net cash provided by (used in) financing activities of discontinued operations

109

(115)

Net cash provided by (used in) financing activities

2,993

(159)

(6,602)

Exchange rate differences - cash and cash equivalent balances

(20)

Increase (decrease) in cash and cash equivalents

(4,445)

(7,806)

(2,345)

Cash and cash equivalents at the beginning of the period

12,956

15,301

Cash and cash equivalents at the end of the period

$ 8,511

$ 7,495

$ 12,956

Significant non-cash activities

Acquisition of property, plant and equipment

Increase of right-of-use-asset recognized with corresponding lease liability

207

Exercise of pre-funded warrants

229

389

Derecognition of property, plant and equipment under a finance lease

Dividend declared by subsidiary but not yet paid

1,129

(*) Reclassified to conform to the current period presentation, following the classification of certain operations as discontinued operations.

Logo: https://mma.prnewswire.com/media/1947468/Evogene_Logo.jpg

SOURCE Evogene