Q2 2024 Evogene Ltd Earnings Call

August 22, 2024

Unknown Executive: Welcome to Evogen's second quarter results conference call. All participants are present in listen-only mode.

Welcome to evidence second quarter results conference call. All participants are present in listen only mode. Following management's formal presentation. We will open the question and answer session.

Unknown Executive: Following management's formal presentation, we will open the question and answer session.

Unknown Executive: You may send questions via chat.

They send questions via chat.

Please type your name and company before your question as a reminder, this conference is being recorded August 20.

2024.

Unknown Executive: Please type your name and company before your question.

Before we begin I would like to caution that this presentation contains forward looking statements relating to future events and Epogen L. T. D. The company may from time to time make other statements regarding our outlook or expectations for future financial or operating.

Results and or other matters regarding or affecting us that are considered forward looking statements as defined in the U S. Private Securities Litigation Reform Act of 1995, and other securities laws as amended statements that are not statements of historical fact may be.

Deemed to be forward looking statements such forward looking statements maybe identified by the use of such words as believe expect anticipate should planned estimated intend and potential or words of similar meaning we are using forward looking statements in this presentation.

Unknown Executive: As a reminder, this conference is being recorded August 22nd, 2024.

Patients when we discuss our value drivers commercialization efforts and timing product development and launches estimated market sizes and milestones pipeline as well as our capabilities and technology.

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.

Unknown Executive: Before we begin, I would like to caution that this presentation contains forward-looking statements relating to future events and Evogen Ltd., the company, may from time to time make other statements regarding our outlook or expectations for future financial or operating results and or other matters regarding or affecting us that are considered forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995 and other securities laws as amended.

<unk> are cautioned that certain important factors may affect the company's actual results and could cause such results to differ materially from any forward looking statements that may be made in this presentation.

Unknown Executive: Statements that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking statements may be identified by the use of such words as believe, expect, anticipate, should, planned, estimated, intend, and potential, or words of similar meaning. We are using forward-looking statements in this presentation when we discuss our value drivers, commercialization, efforts and timing, product development, and launches, estimated market sizes and milestones, pipeline, as well as our capabilities and technology. 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 and.

And trends in the future 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 our control, including without limitation. The current war between Israel, and Hamas and his butler and any worsening of the CIS.

Unknown Executive: Readers are cautioned that certain important factors may affect the company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this presentation. Therefore, actual future results, performance, or achievements and trends in the future 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 our control, including, without limitation, the current war between Israel-Hamas and Hezbollah and any worsening of the situation in Israel, such as further mobilizations or escalation in the northern border of Israel.

<unk>, Israel, such as further mobilizations or escalation in the northern border of Israel. Those described in greater detail in evidence annual report on form 20-F, and in other information Epogen files and furnishes with the Israel Securities.

Unknown Executive: Those described in greater detail in Evagen's annual report on Form 20-F and in other information, Evagen files and furnishes with the Israel Securities Authority and the U.S. Securities and Exchange Commission, including those factors under the heading risk factors.

40, and the U S Securities and Exchange Commission, including those factors under the heading risk factors, except as required by applicable securities laws, we disclaim any obligation or commitment to update any information contained in this presentation or to publicly release the result.

Unknown Executive: Except as required by applicable securities laws, we disclaim any obligation or commitment to update any information contained in this presentation or to publicly release the results of any revisions to any statements that may be made to reflect future events or developments or changes in expectations, estimates, projections, and assumptions.

Have any revisions to any statements that may be made to reflect future events or developments or changes in expectations estimates projections and assumptions. The information contained herein does not constitute a prospectus or other offering document nor does it constitute.

Unknown Executive: The information contained herein does not constitute a prospectus or other offering document, nor does, it constitute or form part of any invitation or offer to sell or any solicitation of any invitation or offer to purchase or subscribe for any securities of Evogen or the company, nor shall the information or any part of it or the fact of its distribution form the basis of or be relied on in connection with any action, contract, commitment, or relating thereto or to the securities of Evogen or the company.

Or form part of any invitation or offer to sell or any solicitation of any invitation or offer to purchase or subscribe for any securities of epogen or the company nor shell the information or any part of it or the fact of it.

Operator: Welcome to Evigen's second quarter, Results Conference Call. All participants are present in Listen Only mode.

Operator: Welcome to Evigen's second quarter, Results Conference Call. All participants are present in Listen Only mode. Following management's formal presentation, we will open the question and answer session. You may send questions via chat. Please type your name and company before your question. As a reminder, this conference is being recorded August 22, 2024.

Operator: Following management's formal presentation, we will open the question and answer session.

Operator: You may send questions via chat.

Operator: Please type your name and company before your question.

Distribution form the basis of or be relied on in connection with any action contract commitment or relating thereto or to the securities of epogen or the company.

Operator: As a reminder, this conference is being recorded August 22, 2024.

Unknown Executive: Before we begin, I would like to caution that this presentation contains forward-looking statements relating to future events and Evigen LPD, the company, may from time to time make other statements regarding our outlook or expectations for future financial or operating results and or other matters regarding or affecting us that are considered forward-looking statements as defined in the U.S. Private Security's litigation reform act of 1995 and other securities laws as amended. Statements that are not statements of historical fact may be deemed to be forward-looking statements.

Unknown Executive: The trademarks include herein are the property of the owners hereof and are used for reference purposes only. Such use should not be construed as an endorsement of our products or services.

Speaker Change: Trademarks include herein are the property of the owners hereof and are used for reference purposes, only such you should not be construed as an endorsement of our products or services.

Unknown Executive: Now, I would like to turn over the call to Ofer Haviv, President and CEO of Evogen.

Now I would like to turn over the call to Ofer Clubby, President and CEO of <unk>. Mr. Aviv. Please go ahead.

Unknown Executive: Mr. Haviv, please go ahead.

Unknown Executive: Private Security's litigation reform act of 1995 and other securities laws as amended.

Ofer Haviv: Hello and good day, everyone.

Ofer Clubby: Hello, and good day everyone.

Speaker Change: Today's conference call.

Ofer Haviv: In today's conference call, I would like to start with, a review of financial and business highlights for the second quarter, continue with an overview of Evogen's activity, and conclude with the achievements of our subsidiaries that took place from the last analyst call.

Speaker Change: I'd like to start with a review of financial and business highlights for the second quarter.

Unknown Executive: Such forward-looking statements may be identified by the use of such words as, believe expect anticipate, should planned, estimated, intend and potential or words of similar meaning. We are using forward-looking statements in this presentation when we discuss our value drivers. Commercialization, efforts and timing, product development and launches, estimated market sizes and milestones, pipeline, as well as our capabilities and technology. 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. Readers are cautioned that certain important factors may affect the company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this presentation.

Speaker Change: Continue with an overview.

Speaker Change: <unk> and <unk>.

Speaker Change: Shimon.

Speaker Change: Subsidiaries.

Ofer Haviv: Following my part, I am pleased to have Castera's CEO, Yoash Zohar, present Castera's activity, recent achievements, and his view on future company growth.

Speaker Change: It took place from the last analyst call.

Following my remarks, I am pleased to have it.

Unknown Executive: We are using forward-looking statements in this presentation when we discuss our value drivers. Commercialization, efforts and timing, product development and launches, estimated market sizes and milestones, pipeline, as well as our capabilities and technology. 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.

Speaker Change: Yo Yo.

<unk> presents a recent achievement and his view on future company growth.

Ofer Haviv: After that, Evogen's CFO, Yaron Elad, will provide a financial update of the second quarter activities.

Speaker Change: After this year.

CFO: CFO your own.

CFO: We'll provide a financial update.

Speaker Change: Both the second quarter activities.

Ofer Haviv: Then we will open the Q&A session.

Speaker Change: Then we will open the Q&A session.

Speaker Change: Let's start with the financial and business highlights.

Ofer Haviv: Let's start with the financial and business highlights. In the first six months of 2024, total revenues reached approximately $5.1 million, compared to $1.3 million in the first half of 2023. We anticipate continued revenue growth in the rest of the year compared to the previous year. This is based on our expectation for Castera to initiate the supply of seeds that fulfill existing orders, totaling over $8 million starting this month. In Q2 of 2024, total revenues reached approximately $914,000 compared to $654,000 in Q2 2023.

Speaker Change: In the first six months 2024.

Speaker Change: Our revenues reached approximately $5 1 million.

Speaker Change: Compared to $1 $3 million in the first half of <unk> III.

Speaker Change: We anticipate continued revenue growth in the rest of the year compared to the previous year.

Speaker Change: This is based on our expectation focus thereafter initiate the supply of season. This was pre existing orders totaling over $8 million.

Unknown Executive: Therefore, actual future results, performance or achievements and trends in the future 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 our control, including, without limitation, the current war between Israel, Hamas and Hisbala and any worsening of the situation in Israel, such as further mobilizations or escalation in the northern border of Israel. Those described in greater detail an Evagence annual report on Form 20F and in other information, Evagence files and furnishes with the Israel Securities Authority and the U.S. Securities and Exchange Commission, including those factors under the heading risk factors.

Speaker Change: Starting this month.

Speaker Change: You talked Blinky 24 total revenue reached absorbed approximately 914 Sullivan.

Ofer Haviv: In the first six months of 2024, loss was approximately $9.8 million compared to $14.8 million in the first half of 2023. The decline in the company's loss continues. In Q2 2024, the loss was approximately $6 million compared to $7.8 million in Q2 2023.

Compared to $664000 in Q2 2023.

Speaker Change: In the first six months.

Paul.

Speaker Change: Approximately $9 8 million.

Speaker Change: Compared to 14 8 million.

Speaker Change: In the first half of 2023.

Speaker Change: Great.

Speaker Change: The decline in the Companys loss continue.

Unknown Executive: Those described in greater detail an Evagence annual report on Form 20F and in other information, Evagence files and furnishes with the Israel Securities Authority and the U.S. Securities and Exchange Commission, including those factors under the heading risk factors.

Speaker Change: And it used to swiftly plentiful the local approximately $6 million.

Speaker Change: Compared to $7 8 million.

Speaker Change: In Q2 2020.

Ofer Haviv: The projected cash uses for 2024 without Biomica and Labibio did not change from our last call, and it is approximately $8 million compared to $12.5 million in 2023, a notable 36% decrease year over year.

Speaker Change: The projected cash usage for 2020 full without biomarker and lumpy barrel did not change from our last call last call and it is approximately $8 million.

Unknown Executive: Except is required by applicable securities laws, we disclaim any obligation or commitment to update any information contained in this presentation or to publicly release the results of any revisions to any statements that may be made to reflect future events or developments or changes in expectations, estimates, projections and assumptions.

Speaker Change: Compared to $12 $5 million in 2023, and <unk>, 36% decline year over year.

Ofer Haviv: We recently undertook a reverse split of our shares in the ratio of 10 to 1, Yaron will, go into more details on this later in the call.

Speaker Change: We recently undertook a reverse split of our shares in the ratio of 10 to one <unk>.

Ron will go into more details on this later in the call.

Unknown Executive: The information contained herein does not constitute a prospectus or other offering documents nor does a constitute or form part of any invitation or offer to sell or any solicitation of any invitation or offer to purchase or subscribe for any securities of the Evogen or the company. Nor shall the information or any part of it or the fact of its distribution form the basis of or be relied on in connection with any action contract commitment or relating there to or to the securities of Evogen or the company.

Ofer Haviv: Now I would like to highlight the main achievements made by Evogene's subsidiaries this quarter, starting with Costera. Costera received an additional purchase order from an existing customer valued at approximately, $440,000 to supply castor seeds to a new African country. The company successfully completed its castor seed growing and harvesting season in Brazil, with seed planned to be shipped during the third quarter of 2024.

Speaker Change: No.

Ron: I would like to highlight the main achievements made by our <unk> subsidiary reason this quarter starting with zero.

Ron: But there are received an additional purchase order from an existing customer.

Ron: Valued at approximately $440000.

Speaker Change: So supply accuracy to our new African countries.

Speaker Change: The company successfully completed its capital still growing and harvesting season in Brazil.

Speaker Change: We planned to be shipped during the third quarter of 2024.

Ofer Haviv: The castor seeds produced in 2024 in both Brazilian and African territories are expected, to enable Costera to meet all its existing orders amounting to approximately $8.4 million.

Speaker Change: The industrial could.

Speaker Change: In 2024.

Speaker Change: Both Brazilian and African territory.

Speaker Change: Our expected to our Navy costeira to meet all its existing orders amounting to approximately $8 4 million.

Ofer Haviv: Now I would like to turn over the call to Ofer Haviv, President and CEO of Evogen.

Ofer Haviv: Now I would like to turn over the call to Ofer Haviv, President and CEO of Evogen. Mr. Haviv, please go ahead. Hello and good day everyone.

Ofer Haviv: Moving on to Biomica, the company's preliminary phase 1 trial results showed a promising trend, for BMC128 when combined with nivolumab in treating patients with refractory renal cell carcinoma, non-small cell lung cancer, and melanoma. The data indicated potential efficacy and safety, marking a crucial step forward in, the development of this microbiome-based therapeutic. These results were presented at the ASCO 2024 annual meeting in May this year.

Moving onto my Amit.

Speaker Change: The company's preliminary phase one so while results showed promising trend for BMC 128.

Ofer Haviv: Mr. Haviv, please go ahead.

Ofer Haviv: Hello and good day everyone.

Speaker Change: When combined with newborn roomba and.

Ofer Haviv: In today's conference goal, I would like to start with a review of financial and business highlights for the second quarter.

Ofer Haviv: In today's conference goal, I would like to start with a review of financial and business highlights for the second quarter. Continuing with an overview of Evogen's activity and conclude with the achievements of our subsidiaries, the took place from the last analyst goal.

Speaker Change: In treating patients.

Speaker Change: With flexibility.

Speaker Change: Renal cell carcinoma.

Ofer Haviv: Continuing with an overview of Evogen's activity and conclude with the achievements of our subsidiaries, the took place from the last analyst goal.

Speaker Change: Non small cell lung cancer.

Speaker Change: Cancer and melanoma.

Speaker Change: The data indicate good book.

Ofer Haviv: For on my part, I am pleased to have the third CEO, Yoash Zohar, presents a third activity, recent achievement and his view on future company growth.

Speaker Change: Efficiency and safety.

Speaker Change: Martin marking a crucial step forward in the development of this mutual baidu best sort of cookies.

Speaker Change: These results were presented in the article 2024 annual meeting in May this year.

Ofer Haviv: After that, Evogen's CFO, Yaron Elad, would provide a financial update of the second quarter activities.

Ofer Haviv: Then we will open the Q&A session.

Ofer Haviv: Now to Labibio.

Speaker Change: Now to <unk>.

Ofer Haviv: ICL and Labibio achieved a significant milestone in their collaboration for developing yield-increasing, biostimulants for raw crops under extreme weather conditions. By leveraging AI, Labibio identified over a dozen novel microbial candidates within, 12 months utilizing its BDD technology platform.

Ofer Haviv: Let's start with the financial and business highlights. In the first six months of 2024, Dr. Revenue reached approximately $5.1 million compared to $1.3 million in the first half of 2023. We anticipate continuing to revenue growth in the rest of the year compared to the previous year. This is based on our expectation for Castera to initiate the supply of seeds that fulfill existing orders startling over $8 million starting this month. In Q2 of 2024, Dr. Revenue reached approximately $914,000 compared to $654,000 in Q2 of 2023. In the first six months of 2024, Dr. Revenue reached approximately $9.8 million compared to $14.8 million in the first half of 2023.

Speaker Change: <unk> achieved a significant milestone in the collaboration for developing yields increasing by stimulus for row crops.

Speaker Change: Extreme weather condition.

Speaker Change: By leveraging AI <unk> identified over dozen novel microbial candidates within 12 months utilizing <unk> technology platform.

Ofer Haviv: This is based on our expectation for Castera to initiate the supply of seeds that fulfill existing orders startling over $8 million starting this month.

Ofer Haviv: The company announced the commercial expansion of its bioinifluent product, Yalox, to inter-reed, following successful trials. I will provide more details on the achievement of each subsidiary later in the presentation.

Speaker Change: The company announced the commercial expansion.

Speaker Change: It's buyer in England product yellow.

Speaker Change: The winter following successful trials.

Ofer Haviv: In Q2 of 2024, Dr. Revenue reached approximately $914,000 compared to $654,000 in Q2 of 2023.

Speaker Change: I will provide more detail on the achievement of each subsidiary later in the presentation.

Ofer Haviv: Moving on to the review of Evogen.

Speaker Change: Moving on to.

Speaker Change: So the review of imaging.

Ofer Haviv: In the first six months of 2024, Dr. Revenue reached approximately $9.8 million compared to $14.8 million in the first half of 2023.

Ofer Haviv: In our vision, we see Evogen as a pioneering company for creating groundbreaking life science, products rooted in microbes, small molecules, and genomics to improve life quality and longevity.

Speaker Change: In our vision, we see epogen as pioneering company for creating drove breaking life science products rooted in microbes small molecules and genomics to improve quality and longevity.

Ofer Haviv: The decline in the company's lost continues.

Ofer Haviv: The decline in the company's lost continues. In Q2 of 2024, Dr. Revenue reached approximately $6 million compared to $7.8 million in Q2 of 2023. The project that cashed users for 2024 without Biomechan Lapibio did not change from our last call, last call, and it is approximately $8 million compared to $12.5 million in 2023 and notable 36% decrease year-over-year.

Ofer Haviv: In Q2 of 2024, Dr. Revenue reached approximately $6 million compared to $7.8 million in Q2 of 2023.

Ofer Haviv: To achieve this vision, we focused on merging life science knowledge with dedicated big, data and cutting-edge computational technologies.

Speaker Change: Yeah.

Speaker Change: To achieve this vision, we focused on emerging life science knowledge with dedicated big data and cutting edge computational technologies.

Ofer Haviv: The project that cashed users for 2024 without Biomechan Lapibio did not change from our last call, last call, and it is approximately $8 million compared to $12.5 million in 2023 and notable 36% decrease year-over-year.

Ofer Haviv: This concept supported the creation of our following three AI tech engines, which provide, effective discovery and optimization of life science products.

Speaker Change: This concept supported the creation of our following three AI engine, which provide affecting discovery and optimization of life science products.

Ofer Haviv: Compute AI directed and accelerated the development of micro-based products, campus AI for small, molecule-based products, and generator AI for products based on genetic elements. The value proposition of our AI-driven tech engines stem from the efficient finding and, optimization of the most promising candidates, therefore, increasing the probability of successfully reaching a breakthrough product within competitive time frame and in cost-efficient manner.

Speaker Change: Michael.

Speaker Change: Hi.

Ofer Haviv: We recently undertook a reverse fleet of our shares in the ratio of 10 to 1, Yaron will go into more details on this later on in the course.

Directive and accelerate the development of micro based products.

Michael: With AI for small molecule based products.

Speaker Change: And generally sorry.

Reported based on genetic elements.

Ofer Haviv: Now, I would like to highlight the main achievements made by Evogen's subsidiaries, this quarter, starting with Castella. The Terra received an additional purchase order from an existing customer, valued us approximately $440,000 to supply Castella's to a new African country. The company successfully completed its Castella's seed growing and harvesting season in Brazil, with seed planned to be shipped during the third quarter of 2024.

Speaker Change: The value proposition of our AI, driven tech and the steam from the efficient binding and optimization of the most promising candidates therefore, increasing the probability of successfully Richie a breakthrough product within competitive timeframe.

Speaker Change: And in cost efficient manner.

Ofer Haviv: Our three AI tech engines were structured to be compatible with the tremendous potential of various, market segments, not limited to only one specific segment. Each tech engine is at the center of potential development of many product types addressing the needs of different, life science industries.

Ofer Haviv: The company successfully completed its Castella's seed growing and harvesting season in Brazil, with seed planned to be shipped during the third quarter of 2024. The Castella's seed produced in 2024 in both Brazilian and African territories are expected to enable Castella to meet all its existing orders, amounting to approximately $8.4 million.

Ofer Haviv: The Castella's seed produced in 2024 in both Brazilian and African territories are expected to enable Castella to meet all its existing orders, amounting to approximately $8.4 million.

Our three hour three AI Tech engine was structured to be flexible with tremendous potential of various market segment not limited to only one specific segment.

Speaker Change: Each deck engine.

Speaker Change: Center of potential development of many product types addressing the needs of different life science industry.

Ofer Haviv: Although this technology holds enormous potential, each market segment requires specific expertise for its product, development and, of course, financial resources and advanced development and production infrastructure.

Speaker Change: Although this technology holds enormous potential.

Each market segment requires specific expertise for its broad development and of course financial resources and advanced development and production input cluster.

Ofer Haviv: Moving on to Biomica, the company's preliminary phase 1 trial results showed promising twin, for BMC 128, when combined with Nivo Lumab, in treating patients with refractory, renal cell carcinoma, known small cell length cancer, and melanoma. The data indicated potential efficacy and safety, marking a crucial step forward in the development of this microbiome best therapeutic. These results were presented at the ASCO 2024 annual meeting in May this year.

Ofer Haviv: So how do we capture the value inherent in our technology?

Speaker Change: How do we capture the value inherent in our technology.

Ofer Haviv: Our business strategy is targeting maximum potential with minimum risk.

Speaker Change: Our business strategy is targeting maximum potential with minimum risk.

Ofer Haviv: To capture the value of our AI tech engines, we aim to establish diverse collaborative partnership for life science, product development. The partners we collaborate with are experts in specific fields that complement our technology. We adopted this approach to maximize the potential of our tech engines while aiming to reduce financial and, development risk.

Speaker Change: To capture the value of our AI engine, we aim to establish the inverse collaborative partnership for life science for the development.

Speaker Change: The partner, we collaborate with our experts in specific field that complement our technology.

Speaker Change: We adopted this approach to maximize the potential of our tech engine, while aiming to reduce financial and development risks.

Ofer Haviv: These results were presented at the ASCO 2024 annual meeting in May this year. Now to the Biomica. ICL and the Biomica achieved a significant milestone in the collaboration for developing yielding twisting biostimulants for raw crops under extreme weather conditions by leveraging AI, the Biomica identified over a dozen novel microbial candidates within 12 months utilizing its BDD technology platform. The company announced the commercial expansion of its bio-initilant product yellows to interpret following the successful trials. I will provide more details on the achievement of each subsidiary later in the presentation.

Ofer Haviv: This is a current snapshot of the status of our business model.

Speaker Change: This is a current snapshot of the status of our business model.

Ofer Haviv: With Evergene owning four subsidiary companies and in additional market segments not covered by our, subsidiaries, we have collaborations with leading companies, all working on developing innovative life science products.

Speaker Change: With epogen owning four subsidiary companies.

Ofer Haviv: Now to the Biomica.

Speaker Change: And in additional market segments not covered by our subsidiaries, we have collaborations with leading companies.

Ofer Haviv: ICL and the Biomica achieved a significant milestone in the collaboration for developing yielding twisting biostimulants for raw crops under extreme weather conditions by leveraging AI, the Biomica identified over a dozen novel microbial candidates within 12 months utilizing its BDD technology platform.

Speaker Change: All working on developing innovative life science products.

Ofer Haviv: I'm very proud of our achievement to date, reflected by the growing list of commercial and financial partners the, Evergene group is engaged with. Since the beginning of 2024, Labib Bio announced partnering with two additional world-leading ag companies, Syngenta and Bayer.

Speaker Change: I am very proud of our achievements to date reflected by the growing list of commercial and financial partners.

Speaker Change: <unk> group is engaged with <unk>.

Since the beginning of 2020 for La <unk> and now partnering with two additional board, leading our company Syngenta and buyer.

Ofer Haviv: The company announced the commercial expansion of its bio-initilant product yellows to interpret following the successful trials.

Ofer Haviv: Castera disclosed its engagement with E&I, a world-leading oil and gas company.

Speaker Change: <unk> disclosed its engagement with Ian award, leading oil and gas company.

Ofer Haviv: AgPlanet announced partnering with Bayer.

Ofer Haviv: I will provide more details on the achievement of each subsidiary later in the presentation.

Speaker Change: Back then was announced partnering with buyer and <unk> itself established together with the kitchen hub finally, food and new company focused on protein production in plant.

Ofer Haviv: And Evergene itself established together with the kitchen hub, Finely Food, a new company focused on protein, production in plants.

Ofer Haviv: Moving on to the review of EvoGen.

Ofer Haviv: Moving on to the review of EvoGen. In our vision, we see EvoGen as pioneering company for creating ground-breaking life-science products rooted in microbes, small molecules, and genomics to improve life quality and longevity. To achieve this vision, we focused on merging life science knowledge with dedicated big data and cutting edge computational technologies. This concept supported the creation of our following three AI tech engines, which provide affecting, discovering and optimization of life science products.

Ofer Haviv: Moving on to our subsidiaries' achievements.

Speaker Change: Moving on to our subsidiaries achievements.

Ofer Haviv: In our vision, we see EvoGen as pioneering company for creating ground-breaking life-science products rooted in microbes, small molecules, and genomics to improve life quality and longevity.

Ofer Haviv: I would like to start with Castera, Ivogene's fully-owned subsidiary, which focuses on developing, an integrated solution to enable large-scale commercial cultivation of castor, benefiting from its unique elixir varieties. Castera's solutions aim to address the global demand for stable castor oil supply, mainly, for the biodiesel industry. The company is utilizing Generator AI tech engine to direct and accelerate the development, of its unique elite castor seed varieties. On June 25, Castera announced receiving a $440,000 purchase order to supply castor seed, to a new African country. This order from an existing customer expands Castera's operations and strength its position, in the biofuel market.

Speaker Change: I would like to start with the thorough.

Speaker Change: He was in a fully owned subsidiary which focused on developing an integrated solution to enable large scale commercial cultivation of gastar benefiting from unique elite seed varieties.

Ofer Haviv: To achieve this vision, we focused on merging life science knowledge with dedicated big data and cutting edge computational technologies.

Speaker Change: As there are solutions aimed to address the global demand for stable customer or supply.

Speaker Change: Mainly for the biodiesel industry.

Ofer Haviv: This concept supported the creation of our following three AI tech engines, which provide affecting, discovering and optimization of life science products.

Speaker Change: The company is utilizing January story.

Speaker Change: Jim to direct and accelerate the development of its unique elite customers seed varieties.

Speaker Change: On June 25.

Ofer Haviv: Microboost AI directed and accelerated the development of micro-based products.

Ofer Haviv: Microboost AI directed and accelerated the development of micro-based products. Campus AI for small molecule-based products and generator AI for products based on genetic elements. The value proposition of our AI driven tech engines seemed from the efficient finding and optimization of the most promising candidates, therefore increasing the probability of successfully reaching a breakthrough product within competitive time frame and in cost efficient manner. Our three AI tech engines were structured to be compatible with the tremendous potential of various market segments, not limited to only one specific segment.

Speaker Change: But there are unknowns, receiving a $440000 purchase order to supply parts to ceded to our new African countries. This order from an existing customer expansion.

Ofer Haviv: Campus AI for small molecule-based products and generator AI for products based on genetic elements. The value proposition of our AI driven tech engines seemed from the efficient finding and optimization of the most promising candidates, therefore increasing the probability of successfully reaching a breakthrough product within competitive time frame and in cost efficient manner.

Speaker Change: Operation and strengths.

Speaker Change: Vision in the biofuel market.

Ofer Haviv: The order is expected to be supplied in 2024. On July 31, Castera announced the successful completion of its castor seed growing and, harvesting season in Brazil, with shipments planned to be initiated from the third quarter of 2024.

Speaker Change: <unk> is expected to be.

Speaker Change: Supplied in 2024.

Speaker Change: On July 31 customer announced the successful completion of its customers is growing and harvesting season empathy with shipments planned to be initiated from the third quarter of 2024.

Ofer Haviv: Our three AI tech engines were structured to be compatible with the tremendous potential of various market segments, not limited to only one specific segment. Each tech engine is at the center of potential development of many product types addressing the needs of different life science industries.

Ofer Haviv: Additionally, the castor harvest season in Africa has begun as scheduled.

Speaker Change: And then suddenly the cost of harvest season in Africa has began as scheduled.

Ofer Haviv: As stated earlier, the castor seeds produced in 2024 in both Brazilian and African territories, are expected to enable Castera to meet all its existing orders, amounting to approximately, $8.4 million, which we anticipate completing by the end of this year.

Speaker Change: As stated earlier the cost to produce in 2024 in both Brazilian and African territory are expected to enable cost era to meet all its existing order amount.

Ofer Haviv: Each tech engine is at the center of potential development of many product types addressing the needs of different life science industries. Although this technology holds enormous potential, each market segment required specific expertise for its product development and of course financial resources and advanced development and production infrastructure.

Speaker Change: Amounting to approximately $8 4 million, which we anticipate completing by the end of this year.

Ofer Haviv: Although this technology holds enormous potential, each market segment required specific expertise for its product development and of course financial resources and advanced development and production infrastructure.

Ofer Haviv: Later, we will hear from Yuash Zohar, Castera's CEO, more about Castera and its trajectory.

Speaker Change: Later, we will hear from US is the hub for steroids CEO more about Castilla and <unk>.

Speaker Change: Victory.

Ofer Haviv: So how do we capture the value inherent in our technology?

Ofer Haviv: So how do we capture the value inherent in our technology? Our business strategy is targeting maximum potential with minimum risk. To capture the value of our AI tech engines, we end to establish the inverse collaborative partnership for life science product development. The partners we collaborate with are experts in specific fields that complement our technology. We adopted this approach to maximize the potential of our tech engines while aiming to reduce financial and development risk.

Ofer Haviv: I'm here with Lavi Bio, a global leader in developing next-generation agro-biological, products utilizing Evogen's Microboost AI.

Speaker Change: Continuous <unk> a global leader in developing this next generation of eligible products utilizing epogen micro boost.

Ofer Haviv: Our business strategy is targeting maximum potential with minimum risk.

Ofer Haviv: To capture the value of our AI tech engines, we end to establish the inverse collaborative partnership for life science product development. The partners we collaborate with are experts in specific fields that complement our technology. We adopted this approach to maximize the potential of our tech engines while aiming to reduce financial and development risk.

Ofer Haviv: On July 2, Lavi Bio announced the commercial expansion of its bio-inequivalent gallop to, winter wheat following successful trials with sales starting across the U.S. for the 2024-25 season, effectively doubling its market potential.

Speaker Change: On July 2nd let me borrow announced the commercial expansion of its borrowing equal in yellow to winter wheat.

Growing successful trial with sales starting across the U S for the 'twenty four 'twenty five Susan effectively doubling its market potential on <unk>.

Ofer Haviv: On July 17, ICL and Lavi Bio announced a significant milestone in developing bio-stimulant solutions, for raw crops facing extreme weather conditions by leveraging AI to identify over a dozen novel microbes within 12 months using Lavi Bio's proprietary BDD technology platform.

Speaker Change: July 17, ICM, and <unk> announced a significant milestone in developing bio stimulant solution for row crops facing extreme weather condition.

Ofer Haviv: This is a current snapshot of the status of our business model with average and owning four subsidiary companies and in additional market segments not covered by our subsidiaries, we have collaborations with leading companies all working on developing innovative life science products. I'm very proud of our achievement to date reflected by the growing list of commercial and financial partners, the average and group is engaged with. Since the beginning of 2024, LabigBio announced partnering with two additional world leading art companies, Sinjenta and Bayer.

Speaker Change: By leveraging AI to identify over a dozen novel microbes within 12 months using <unk> proprietary <unk> technology platform.

Ofer Haviv: I'm happy to share that Lavi Bio's pipeline is advancing according to plan, with field, trials initiated in Q2 in most of the company programs following successful optimization process. Results are expected during Q4.

Speaker Change: I'm happy to share. This lovely virus pipeline is advancing according to plan with field trials initiated in Q2 in most of the company programs.

Ofer Haviv: I'm very proud of our achievement to date reflected by the growing list of commercial and financial partners, the average and group is engaged with. Since the beginning of 2024, LabigBio announced partnering with two additional world leading art companies, Sinjenta and Bayer.

Speaker Change: Growing successful optimization process.

Speaker Change: Results are expected during Q4.

Ofer Haviv: Now to Biomica, which specializes in developing microbiome-based therapeutics for human health, utilizing Evogen's Microboost AI tech engine. On May 23, Biomica announced promising preliminary results for its ongoing Phase I clinical trial, of the microbiome-based therapeutics BMC128 in combination with nivolumab for treating non-small-cell lung cancer, melanoma, and refractory renal cell carcinoma. The trial included 11 patients who had experienced disease progression despite prior immunotherapy treatments. The initial findings suggested potential benefits for patients with advanced stages of these diseases.

Speaker Change: Now somebody Omega, which specialized in developing microbiome based therapeutics for human health utilizing epogen micro booth.

Ofer Haviv: Castella disclosed its engagement with E&I, a world leading oil and gas company.

Ofer Haviv: Castella disclosed its engagement with E&I, a world leading oil and gas company. Act plan was announced partnering with Bayer and EboGen itself established together with the kitchen hub, finally food and new company focused on protein production in plants.

Speaker Change: <unk> engine.

Speaker Change: On May 23, biomarker and now promising preliminary results.

Ofer Haviv: Act plan was announced partnering with Bayer and EboGen itself established together with the kitchen hub, finally food and new company focused on protein production in plants.

Speaker Change: It's ongoing phase one clinical trial.

Speaker Change: Of the microbiome based therapeutics.

Speaker Change: BMC 128.

Ofer Haviv: Moving on to our subsidiaries, Achievement.

Speaker Change: In combination with <unk>.

Speaker Change: For tweaking none.

Ofer Haviv: I would like to start with Castera. He was in fully on subsidiary, which focused on developing an integrated solution to enable large-scale commercial cultivation of caster, benefiting from its unique elite variety. Castera's solutions aim to address the global demand for stable caster or supply, mainly for the biodiesel industry. The company is utilizing Generator AI Tech Engine to direct and accelerate the development of its unique elite caster seed varieties. On June 25, Castera announced receiving a $440,000 purchase order to supply caster seed to a new African country.

Speaker Change: <unk> cell lung cancer melanoma.

Speaker Change: <unk> melanoma and <unk>.

Speaker Change: Correct story.

Speaker Change: Cell carcinoma.

Yeah.

Speaker Change: The trial includes 11 patients who have experienced disease progression. Despite prior immunotherapy treatments.

Speaker Change: The initial finding suggested potential benefits for patients with advanced stages of these diseases.

Ofer Haviv: Those results represented some of the first positive evidence emerging from the field of cancer therapies that leverage gut microbiota. These results were presented at the prestigious ASCO annual meeting in June this year.

Speaker Change: Those results represented some of the first positive evidence.

Speaker Change: Emerging from the field of cancer therapies that leverage Gov micro micro bio.

Ofer Haviv: On June 25, Castera announced receiving a $440,000 purchase order to supply caster seed to a new African country. This order, from an existing castermer, expands a sterile operation and strength its position in the biofuel market. The order is expected to be supplied in 2024.

Speaker Change: So.

Speaker Change: This result.

Speaker Change: Were presented at the prestigious <unk> annual meeting in June this year.

Ofer Haviv: This order, from an existing castermer, expands a sterile operation and strength its position in the biofuel market. The order is expected to be supplied in 2024. On July 31, Castera announced the successful completion of its caster seed growing and harvesting season in Brazil with shipment planned to be initiated from the third quarter of 2024.

Ofer Haviv: In May, Biomica presented preclinical results of its IBS program from the research collaboration with New York University at the prestigious DDW conference.

Speaker Change: In May biomarker presented preclinical results of it.

Speaker Change: MBS program from the research collaboration with New York University.

Prestigious DW conference.

Ofer Haviv: Further clinical data from the Phase I cancer study will become available and analyzed through the next few months to gain a deeper understanding of the therapeutic potential of BMC128, in combination with nivolumab in cancer treatment.

Speaker Change: Further clinical data from the phase one cancer study will become available and analyze through the next few months to gain a deeper understanding of the therapeutic potential of BMC 128 in combination with an Ebola mob in cancer treatment.

Ofer Haviv: On July 31, Castera announced the successful completion of its caster seed growing and harvesting season in Brazil with shipment planned to be initiated from the third quarter of 2024. As mentioned, the caster harvest season in Africa has began as scheduled. As stated earlier, the caster seed produced in 2024 involves Brazilian and African territories are expected to enable castera to meet all its existing orders, amounting to approximately $8.4 million, which we anticipate, completing by the end of this year.

Ofer Haviv: As mentioned, the caster harvest season in Africa has began as scheduled. As stated earlier, the caster seed produced in 2024 involves Brazilian and African territories are expected to enable castera to meet all its existing orders, amounting to approximately $8.4 million, which we anticipate, completing by the end of this year.

Ofer Haviv: We look forward to continue the evaluation of BMC128 beneficial activity in future of clinical development.

Speaker Change: We look forward to continue the evaluation of BMC 128 beneficial activity in future of clinical development.

Ofer Haviv: I'm pleased to pass the presentation to Yoash Zohar, Castera's CEO, to present Castera activity, recent achievements, and his view on future company growth.

Speaker Change: I am pleased to pass the presentation to Yorkshire, Zohar <unk> CEO to present, the stirrer activity recent achievements and his view on future company growth.

Yoash Zohar: Later, we will hear from you Ash Zohar, Castera's CEO, more about castera and its trajectory.

Ofer Haviv: Later, we will hear from you Ash Zohar, Castera's CEO, more about castera and its trajectory.

Yoash Zohar: Hello and good day.

Zohar: Hello, and good day.

Speaker Change: To participate enable genes quarterly on the disposal and.

Ofer Haviv: Continue with the V-Bio, a global leader in developing nested next generation at biological products utilizing Epogen's microboost AR.

Ofer Haviv: Continue with the V-Bio, a global leader in developing nested next generation at biological products utilizing Epogen's microboost AR. On July 2, Castera announced the commercial expansion of its bioin equivalent yellow to interwith following successful trials with sales start starting across the US for the 24-25 season effectively doubling its market potential. On July 17, ICL and LaBio announced a significant milestone in developing bio stimulant solution for road crops facing extreme weather conditions by leveraging AI to identify over dozen novel microbes within 12 months using LaBio's proprietary PDD technology platform. I'm happy to share that LaBio's pipeline is advancing according to plans with field trials initiated in Q2 in most of the company programs following successful optimization process. Results are expected during Q4.

Zohar: And share with you my perspective on Cristero, which I joined at the beginning of this year.

Yoash Zohar: I'm pleased to participate in EvoGene's quarterly analysis call and share with you my perspective on Castera, which I joined at the beginning of this year.

<unk> vision is to establish itself as a leading provider of sustainable Julien feedstock for the global bio based industries.

Ofer Haviv: On July 2, Castera announced the commercial expansion of its bioin equivalent yellow to interwith following successful trials with sales start starting across the US for the 24-25 season effectively doubling its market potential.

Yoash Zohar: Castera's vision is to establish itself as a leading provider of sustainable veg oil feedstock for the global bio-based industries. We are particularly focused on contributing to the biofuel sector, where the demand for renewable and sustainable resources is rapidly increasing.

Zohar: We are particularly focused on contributing to the biofuel sector with the demand for renewable and sustainable resources is rapidly increasing.

Yoash Zohar: Our mission aligns with this vision by offering an integrated ag solution to grow commercial scale castor efficiently in sustainability, combining our elite castor seed varieties with advanced cultivation techniques.

Zohar: Our mission aligns with this vision by offering an integrated solution to grow commercial scale customer efficiently and sustainability.

Ofer Haviv: On July 17, ICL and LaBio announced a significant milestone in developing bio stimulant solution for road crops facing extreme weather conditions by leveraging AI to identify over dozen novel microbes within 12 months using LaBio's proprietary PDD technology platform.

Zohar: Mining of our elite customers seed varieties with advanced cultivation techniques.

Yoash Zohar: It's important to emphasize that castor oil is used for a variety of bio-based products, and in the last years there is a growing interest in castor oil as a potential major feedstock of biofuels.

Zohar: It is important to emphasize that the customer oil is used for a variety of bio based product and in the last few years. There is a growing interesting customer oil as a potential major feedstock for biofuels.

Ofer Haviv: I'm happy to share that LaBio's pipeline is advancing according to plans with field trials initiated in Q2 in most of the company programs following successful optimization process. Results are expected during Q4.

Yoash Zohar: Next slide.

Zohar: Next slide.

Yoash Zohar: The castor oil value chain begins with the development of elite castor seed varieties, targeting high yield, high oil content and resistant to abiotic stresses to allow cultivation in marginal and or semi-arid soils. Next step is the seed production targeting replication of the elite seed varieties performance, with high germination rates and other important traits.

Zohar: The castor oil value chain.

Speaker Change: The games with the development of elite <unk> varieties targeting high yield high oil content and resistant to Abbiati expresses the love cultivation in marginal and or semi arid choice.

Ofer Haviv: Now to Biomica, which specialized in developing microbiome-based therapeutics for human health, utilizing Evogen's Microbus AITEC engine. On May 23, Biomica announced promising preliminary results for its ongoing phase 1 clinical trial of the microbiome-based therapeutics, BMC 128, in combination with Niboloma, for treating non-small cell length cancer, melanoma, and refractory renal cell cartinoma. The trial includes 11 patients who had experienced disease progression despite prior immunotherapy treatments. The initial findings suggested potential benefit for patients with advanced stages of these diseases.

Speaker Change: Next step is the seed production targeting replication of the elite seed varieties performance, we dive Jeremy nation rates another important rates.

Yoash Zohar: Now we move to commercial scale cultivation of the castor seeds to produce high quality, grains. In this phase, professional growing protocols are crucial to capture maximum value on the, castor plant. Using mechanized harvesting and other agricultural machinery such as de-hulling machines can, ensure maximum yield and efficiency with minimum cost and losses.

Now we move to commercial scale cultivation of the customer seeds to produce high quality Greens in this phase professional growing protocols are crucial to capture maximum value from the customer plant.

Speaker Change: Using mechanized harvesting and other agricultural machinery, such as the <unk> machines can ensure maximum yield and efficiency with minimum cost and losses.

Yoash Zohar: The grain is then shipped to the oil extraction facility with two main products, castor oil, and castor cake. The cake is a nitrogen rich organic fertilizer obtained as a solid residue from the processing, of grains for castor oil.

Speaker Change: The Great thing is then shipped to the oil extraction facility with two main products.

Speaker Change: The Rowan and customer cake, the cake is a nitrogen reach organic fertilizer.

<unk> has a solid residue from the processing of Greens for customary.

Ofer Haviv: Those results represented some of the first positive evidence emerging from the field of cancer therapies that leverage GAS Micromycopyota. These results were presented at the prestigious ASCO annual meeting in June this year. In May, Biomica presented preclinical results of its IBS program from the research collaboration with New York University as a prestigious DDW conference. Thirdly, clinical data from the phase 1 cancer study will become available and analyzed through the next few months to gain a deeper understanding of the therapeutic potential of BMC 128 in combination with Niboloma in cancer treatment.

Yoash Zohar: The castor oil can be now used as feedstock for biofuel or other bio-based industrial, products.

Speaker Change: The cost of oil can be now used as feedstock for biofuel or other bio based industrial products.

Yoash Zohar: The global castor oil market is projected to reach 1.68 billion dollars by 2028. This growth is driven by increasing demand in bio-based industries, particularly for, sustainable and renewable resources.

Speaker Change: The global cost or in market is projected to reach $1 $68 billion by 2028.

Speaker Change: This growth is driven by increasing demand in Biobased industries, particularly for sustainable and renewable resources.

Ofer Haviv: In May, Biomica presented preclinical results of its IBS program from the research collaboration with New York University as a prestigious DDW conference.

Yoash Zohar: As we look at the global supply chain for castor oil, we see significant challenges.

Speaker Change: As we look at the global supply chain for customer oil, we see significant challenges most of the customer oil supply is currently coming from India, where traditional cultivation methods are still prevailing.

Yoash Zohar: Most of the castor oil supply is currently coming from India, where traditional cultivation, methods are still prevalent.

Ofer Haviv: Thirdly, clinical data from the phase 1 cancer study will become available and analyzed through the next few months to gain a deeper understanding of the therapeutic potential of BMC 128 in combination with Niboloma in cancer treatment.

Yoash Zohar: Castor is grown there primarily as a tall shrub and the harvesting process is done manually, which significantly limits scalability. The traditional methods used in these regions result in low yields. These factors contribute to a supply chain that will not keep up with the expected rapid, increase in global demand for castor oil, particularly as industries seek sustainable bio-based resources. Addressing these challenges is critical to ensuring a sustainable and scalable supply, of castor oil in the future.

Customers are drawing their primarily as a total shrub into harvesting processes done manually, which significantly limited scalability. The traditional methods used in these regions, resulting low yields.

Ofer Haviv: We look forward to continue the evaluation of BMC 128 beneficial activity in future of clinical development.

Speaker Change: These factors contribute to a supply chain that will not keep up with the expected rapid increase in global demand for customer oil, particularly as industry to seek sustainable bio based resources.

Yoash Zohar: I am pleased to pass the presentation to Yolash Zohar, Castera CEO to present Castera activity, recent achievements, and his view on future company growth.

Yoash Zohar: I am pleased to pass the presentation to Yolash Zohar, Castera CEO to present Castera activity, recent achievements, and his view on future company growth. Hello. Hello and good day.

Speaker Change: Addressing these challenges is critical to ensuring a sustainable and scalable supply of customer oil in the future.

Yoash Zohar: In response to the challenges in the traditional castor supply chain, Castera has developed, a comprehensive integrated agricultural solution. Our approach includes the development of proprietary elite castor seed varieties that are specifically, bred for higher yield and better adaptability to various growing conditions.

Speaker Change: In response to the challenges in the traditional cost of supply chain costs Terra has developed a comprehensive integrated agricultural solutions.

Yoash Zohar: Hello.

Speaker Change: Our approach includes the development of proprietary elite customers seed varieties that are specifically bread for higher yield and better ability to various growing conditions.

Yoash Zohar: Hello and good day.

Yoash Zohar: I am pleased to participate in Evogen's quarterly analysis call and share with you my perspective on Castera, which I joined at the beginning of this year.

Yoash Zohar: I am pleased to participate in Evogen's quarterly analysis call and share with you my perspective on Castera, which I joined at the beginning of this year. Castera's vision is to establish itself as a leading provider of sustainable bad oil feedstock for the global biobased industries. We are particularly focused on contributing to the biofuel sector, where the demand for renewable and sustainable resources is rapidly increasing. Our mission aligns with this vision by offering an integrated ag solution to grow commercial scale Caster efficiently in sustainability, combining our elite Caster seed varieties with advanced cultivation techniques.

Yoash Zohar: Castera's vision is to establish itself as a leading provider of sustainable bad oil feedstock for the global biobased industries.

Yoash Zohar: These elite seeds are supported by advanced agrotechnical practices, including growing, protocols and mechanized harvesting and de-hulling, ensuring cultivation methods that are optimized for large-scale castor grain production, directly addressing the limitations of manual harvesting, Castera's integrated solution is not just about increasing production.

Speaker Change: These elite seeds are supported by advanced technical practices, including growing protocols and mechanize, the harvesting and hauling ensuring cultivation methods that are optimized for large scale customer green production directly addressing the limitations of many of our existing methods.

Yoash Zohar: We are particularly focused on contributing to the biofuel sector, where the demand for renewable and sustainable resources is rapidly increasing. Our mission aligns with this vision by offering an integrated ag solution to grow commercial scale Caster efficiently in sustainability, combining our elite Caster seed varieties with advanced cultivation techniques. It's important to emphasize that Castor oil is used for a variety of bio-based products and in the last years there is a growing interest in Castor oil as a potential major feedstock of biofuels.

Yoash Zohar: It's about ensuring a stable and reliable supply chain of castor oil globally.

Yoash Zohar: Next slide.

Speaker Change: Costa is integrated solution is not just about increasing production so both ensuring a stable and reliable supply chain of customers globally as demand for Biobased products continues to grow our solution positions us to be a leading supplier in this essential market.

Yoash Zohar: It's important to emphasize that Castor oil is used for a variety of bio-based products and in the last years there is a growing interest in Castor oil as a potential major feedstock of biofuels. Next slide. The Castor oil value chain begins with the development of elite Castor seed varieties targeting high yield high oil content. And resistant to a biotic stresses to your lung cultivation in marginal and or semi-arid soils. Next step is the seed production targeting replication of the elite seed varieties performance with high germination rates and other important traits.

Speaker Change: Next slide.

Speaker Change: Yeah.

Speaker Change: So after we reviewed the coastal market value chain challenges and Costa is offering.

Yoash Zohar: The Castor oil value chain begins with the development of elite Castor seed varieties targeting high yield high oil content.

I would like to highlight several points.

Yoash Zohar: As demand for biobased products continues to grow, our solution positions us to be a leading supplier in this essential market.

Speaker Change: <unk> operates within the rapidly growing castor oil market, which is increasingly recognized as a sustainable energy source that can help reduce the reliance on fossil fuels.

Yoash Zohar: And resistant to a biotic stresses to your lung cultivation in marginal and or semi-arid soils.

Yoash Zohar: Next step is the seed production targeting replication of the elite seed varieties performance with high germination rates and other important traits.

Yoash Zohar: Next slide.

Speaker Change: This global market and its derivatives are projected to reach over $1 6 billion by 2028 with a compound annual growth rate of four 3%.

Yoash Zohar: Now we move to commercial scale cultivation of the Castor seeds to produce high quality grains. In this phase, professional growing protocols are crucial to capture maximum value on the Castor plant. Using mechanized harvesting and other agricultural machinery such as the hailing machines can ensure maximum yield and efficiency with minimum cost and losses. The grain is then shipped to the oil extraction facility with two main products, Castor oil and Castor cake. The cake is a nitrogen rich organic fertilizer obtained as a solid residue from the processing of grains for Castor oil.

Speaker Change: This presents a significant opportunity for Costa era to capitalize on.

Yoash Zohar: So after we reviewed the castor market value chain challenges and Castera's offering, I would like to highlight several points.

Speaker Change: At the core of the steroids operations is our unique technology platform, which enables us to develop elite customers seed varieties with superior traits tailored for high performance in diverse agricultural environment.

Yoash Zohar: Castera operates within the rapidly growing castor oil market, which is increasingly recognized as a sustainable energy source that can help reduce the reliance on fossil fuels. This global market and its derivatives are projected to reach over 1.6 billion by 2028, with the compound annual growth rate of 4.3%. This presents a significant opportunity for Castera to capitalize on.

Speaker Change: <unk> value proposition offers an integrated that re cultural solution that includes elite customer varieties extends to the entire farming process on growing protocols to mechanized harvesting in the holding a solution that ensures efficiency and scalability.

Speaker Change: Because there are formed an alliance with DNI, a leading global oil and gas company and he is proud to support Eni's initiative in the biofuel sector.

Yoash Zohar: The Castor oil can be now used as feedstock for biofuel or other bio-based industrial products.

Yoash Zohar: The Castor oil can be now used as feedstock for biofuel or other bio-based industrial products. The global Castor oil market is projected to reach $1.68 billion by 2028. This growth is driven by increasing demand in bio-based industries, particularly for sustainable and renewable resources.

Speaker Change: Partnerships.

Yoash Zohar: The global Castor oil market is projected to reach $1.68 billion by 2028. This growth is driven by increasing demand in bio-based industries, particularly for sustainable and renewable resources.

Speaker Change: Their scores the strategic importance of customer oil as a sustainable energy resource and in line with the global effort to transition to renewable energy sources.

Yoash Zohar: At the core of Castera's operations is our unique technology platform, which enables us to develop elite castor seed varieties with superior traits tailored for high performance in diverse agricultural environments.

Speaker Change: <unk> portfolio includes proprietary customers seed varieties, such as E. V. F 716 easier said than planned and <unk> seven to one which have been bred for improved traits and a suitable for commercial scale of innovation.

Yoash Zohar: As we look at the global supply chain for Castor oil, we see significant challenges.

Yoash Zohar: As we look at the global supply chain for Castor oil, we see significant challenges. Most of the Castor oil supply is currently coming from India where traditional cultivation methods are still prevalent. Castor is grown there primarily as a tall shrub and the harvesting process is done manually, which significantly limits colorability. The traditional methods used in these regions result in low yields. These factors contribute to supply chain that will not keep up with the expected rapid increase in global demand for Castor oil, particularly as industries seek sustainable bio-based resources. Addressing these challenges is critical to ensuring a sustainable and scalable supply of Castor oil in the future.

Yoash Zohar: Castera's value proposition offers an integrated agricultural solution that includes elite castor varieties, extends to the entire farming process on growing protocols to mechanized harvesting and de-hulling, a solution that ensures efficiency and scalability.

Yoash Zohar: Most of the Castor oil supply is currently coming from India where traditional cultivation methods are still prevalent.

These varieties represent the culmination of our scientific and technological efforts offering farmers reliable and high yield option for large scale production.

Yoash Zohar: Castor is grown there primarily as a tall shrub and the harvesting process is done manually, which significantly limits colorability. The traditional methods used in these regions result in low yields.

Speaker Change: In summary, our stereos involvement in the customer oil value chain is comprehensive from seek to green our efforts are aligned with market trends and demand ensuring that we contribute significantly to the global customers supply.

Yoash Zohar: These factors contribute to supply chain that will not keep up with the expected rapid increase in global demand for Castor oil, particularly as industries seek sustainable bio-based resources. Addressing these challenges is critical to ensuring a sustainable and scalable supply of Castor oil in the future.

Speaker Change: While driving innovation and sustainability in the industry.

Speaker Change: Next slide.

Speaker Change: I would like to highlight some of <unk> key commercial achievements underscoring its significant economic impact is.

Yoash Zohar: In response to the challenges in the traditional Castor supply chain, Castor oil has developed a comprehensive integrated agricultural solution. Our approach includes the development of proprietary elite Castor seed varieties that are specifically bred for higher yield and better adaptability to various growing conditions. These elite seeds are supported by advanced agro-technical practices, including growing protocols and mechanized harvesting in the Haling, ensuring cultivation methods that are optimized for large-scale Castor grain production, directly addressing the limitations of many harvesting methods.

Yoash Zohar: Castera formed an alliance with ENI, a leading global oil and gas company, and is proud to support ENI's initiative in the biofuel sector. This partnership underscores the strategic importance of castor oil as a sustainable energy resource and align with the global effort to transition to renewable energy sources.

Speaker Change: As previously announced in 2023, we secured our first major order from Eni, a global leader in the oil and gas industry amounting to over 11 million U S dollars. This.

Yoash Zohar: Castera's portfolio includes proprietary castor seed varieties such as EVF-716, EVF-712, and EVF-701, which have been bred for improved traits and are suitable for commercial scale cultivation. These varieties represent the culmination of our scientific and technological efforts, offering farmers reliable and high yield option for large scale production. In summary, Castera's involvement in the castor oil value chain is comprehensive from seed to grain.

Speaker Change: This represents a pivotal milestone in our journey.

Yoash Zohar: These elite seeds are supported by advanced agro-technical practices, including growing protocols and mechanized harvesting in the Haling, ensuring cultivation methods that are optimized for large-scale Castor grain production, directly addressing the limitations of many harvesting methods.

Speaker Change: While our initial plan was to fulfill these orders in 2023 unforeseen challenges in seed production caused delays, resulting in only a partial supply within the.

Yoash Zohar: Our efforts are aligned with market trends and demand, ensuring that we contribute significantly to the global castor oil supply, while driving innovation and sustainability in the industry.

Speaker Change: Next slide.

Speaker Change: Since the beginning of 2020 for Costa has been dedicated to expanding and stabilizing each seed production infrastructure, which is primarily supported by a network of seed growing sub contractors.

Yoash Zohar: Methods.

Yoash Zohar: Methods. Castera's integrated solution is not just about increasing production, it's about ensuring a stable and reliable supply chain of castor oil globally. As demand for biobased products continues to grow, our solution positions us to be a leading supplier in this essential market.

Yoash Zohar: Next slide.

Yoash Zohar: Castera's integrated solution is not just about increasing production, it's about ensuring a stable and reliable supply chain of castor oil globally.

Yoash Zohar: Next slide.

Speaker Change: In the first half of the year, we announced an expansion in both the number of seed growers, we collaborate with the geographical locations of our operations. We are now active in both Brazil and Africa covering over 900 hectares. We believe we are on course to fulfill all remaining orders by the end of the year and have already begun addressing our <unk>.

Yoash Zohar: As demand for biobased products continues to grow, our solution positions us to be a leading supplier in this essential market.

Yoash Zohar: Next slide.

Speaker Change: <unk> backlog for 2025. Additionally.

Yoash Zohar: So, after we reviewed the castor market value chain challenges in Castera's offering, I would like to highlight several points.

Yoash Zohar: So, after we reviewed the castor market value chain challenges in Castera's offering, I would like to highlight several points. Castera operates within the rapidly growing castor oil market, which is increasingly recognized as a sustainable energy source that can help reduce the reliance on fossil fuels. This global market and its derivatives are projected to reach over 1.6 billion by 2028 with the compound annual growth rate of 4.3%. This presents a significant opportunity for Castera to capitalize on.

Speaker Change: Additionally.

Speaker Change: In 2024, we secured a further seed order, which we expect to deliver within this year.

Yoash Zohar: I would like to highlight some of Castera's key commercial achievements, underscoring its significant economic impact.

Speaker Change: Next slide.

Yoash Zohar: Castera operates within the rapidly growing castor oil market, which is increasingly recognized as a sustainable energy source that can help reduce the reliance on fossil fuels. This global market and its derivatives are projected to reach over 1.6 billion by 2028 with the compound annual growth rate of 4.3%. This presents a significant opportunity for Castera to capitalize on.

Speaker Change: I am proud to announce the successful completion of our customers see the harvesting season in Brazil with over 130 tons, a flight quality seats no ready for shipment.

Speaker Change: For one of our trusted seed growers.

Speaker Change: This milestone reflects the effectiveness of our agricultural practices and the dedication of our team on the ground. These seeds will primarily support our valued customers in Africa, driving sustainable agriculture and utilization.

Yoash Zohar: At the core of Castera's operations is our unique technology platform which enables us to develop elite castor seed varieties with superior traits tailored for high performance in diverse agricultural environments. Castera's value proposition offers an integrated agricultural solution that includes elite castor varieties extends to the entire farming process on growing protocols to mechanize harvesting and dehaling a solution that ensures efficiency and scalability. Castera formed an alliance with DNI, a leading global oil and gas company, and is proud to support DNI's initiatives in the biofield sector.

Speaker Change: Simultaneously, we have also commenced the customer harvesting season in Africa combined the seeds from these two regions are expected to fulfill an $8 $4 million in orders received in 2023 and 2024.

Yoash Zohar: As previously announced in 2023, we secured our first major order from ENI, a global leader in the oil and gas industry, amounting to over $11 million.

Yoash Zohar: Castera's value proposition offers an integrated agricultural solution that includes elite castor varieties extends to the entire farming process on growing protocols to mechanize harvesting and dehaling a solution that ensures efficiency and scalability.

Speaker Change: The successful harvest are a testament to our strategic planning and execution capabilities. They also highlight <unk> ongoing commitment to delivering value to our customers with dependable supply chains and superior products.

Yoash Zohar: Castera formed an alliance with DNI, a leading global oil and gas company, and is proud to support DNI's initiatives in the biofield sector.

Yoash Zohar: This represents a pivotal milestone in our journey.

Speaker Change: We take great pride in this accomplishment and look forward to maintaining this momentum as we progress further into 2025.

Yoash Zohar: This partnership underscores the strategic importance of castor oil as a sustainable energy resource and align with the global effort to transition to renewable energy sources.

Yoash Zohar: This partnership underscores the strategic importance of castor oil as a sustainable energy resource and align with the global effort to transition to renewable energy sources. Castera's portfolio includes proprietary castor seed varieties such as EVF-716, EVF-712 and EVF-701, which have been bred for improved traits and are suitable for commercial scalability innovation. These varieties represent the culmination of our scientific and technological efforts, offering farmers reliable and high yield option for large-scale production.

Yoash Zohar: While our initial plan was to fulfill, these orders in 2023, unforeseen challenges in seed production caused delays, resulting in only a partial supply within the year.

Speaker Change: Next slide.

Speaker Change: Okay.

Yoash Zohar: Castera's portfolio includes proprietary castor seed varieties such as EVF-716, EVF-712 and EVF-701, which have been bred for improved traits and are suitable for commercial scalability innovation. These varieties represent the culmination of our scientific and technological efforts, offering farmers reliable and high yield option for large-scale production. In summary, Castera's involvement in the castor oil value chain is comprehensive from seed to grain.

Okay.

Speaker Change: [laughter].

Speaker Change: I am pleased to inform you that we have initiated discussion with our customers to assess their seed requirements for the 2025 growing season and beyond when anticipated by the next quarter, we will be able to provide a comprehensive sales forecast for 2025.

Yoash Zohar: Next slide.

Yoash Zohar: Since the beginning of 2024, Castera has been dedicated to expanding and stabilizing, its seed production infrastructure, which is primarily supported by a network of seed growing subcontractors. In the first half of the year, we announced an expansion in both the number of seed growers we collaborate with and the geographical locations of our operations. We are now active in both Brazil and Africa, covering over 900 hectares.

Yoash Zohar: We believe we are, on course to fulfill all remaining orders by the end of the year and have already begun addressing our growing backlog for 2025. Additionally, in 2024, we secured a further seed order which we expect to deliver within this year.

Speaker Change: Additionally, we are increasingly encountering large customer oil consumers, who are interested in expanding the use of the oil, but the repair not to participate in customer drilling cultivation or oil production themselves. Instead, they are interested in directly purchasing customer all at.

Yoash Zohar: In summary, Castera's involvement in the castor oil value chain is comprehensive from seed to grain. Our efforts are aligned with market trends and demand, ensuring that we contribute significantly to the global castor oil supply while driving innovation and sustainability in the industry.

Yoash Zohar: Our efforts are aligned with market trends and demand, ensuring that we contribute significantly to the global castor oil supply while driving innovation and sustainability in the industry.

Yoash Zohar: Next slide.

Speaker Change: Consequently, we have begun to explore the economic implications of expanding our operation in the value chain to.

Speaker Change: The cost of oil production, we're cristero would take the lead in grain production and collaborate with established oil producers.

Yoash Zohar: Next slide.

Speaker Change: I look forward to updating you on the Smith or should we make any progress.

Yoash Zohar: I would like to highlight some of Castera's key commercial achievements, underscoring its significant economic impact.

Yoash Zohar: I would like to highlight some of Castera's key commercial achievements, underscoring its significant economic impact. As previously announced in 2023, we secured our first major order from DNI, a global leader in the oil and gas industry, amounting to over 11 million US dollars, this represents a pivotal milestone in our journey. While our initial plan was to full feel this order is in 2023, unforeseen challenges in seed production caused delays resulting in only a partial supply within the issue.

Yoash Zohar: I'm proud to announce the successful completion of our castor seed harvesting season in Brazil, with over 130 tons of high quality seeds now ready for shipment from one of our trusted seed growers. This milestone reflects the effectiveness of our agricultural practices and the dedication of our team on the ground.

Yoash Zohar: These seeds will primarily support our valued customers in Africa, driving sustainable agriculture and innovation.

Yoash Zohar: Simultaneously, we have also commenced the castor harvesting season in Africa, combined the seeds from these two regions are expected to fulfill an 8.4 million dollars in orders received in 2023 and in 2024. These successful harvests are a testament to our strategic planning and execution capabilities.

Speaker Change: In closing I'm honored to serve as the CEO of Cristero, a company with a promising future and significant economic.

Yoash Zohar: They also highlight Castera's ongoing commitment to delivering value to our customers, so dependable supply chains and superior products.

Yoash Zohar: We take great pride in this accomplishment and look forward to maintaining this momentum as we, progress further into 2025.

Yoash Zohar: As previously announced in 2023, we secured our first major order from DNI, a global leader in the oil and gas industry, amounting to over 11 million US dollars, this represents a pivotal milestone in our journey.

Speaker Change: Potential.

Speaker Change: You very much.

Yoash Zohar: Next slide.

Yoash Zohar: I am pleased to inform you that we have initiated discussion with our customers to assess their seed requirements for the 2025 growing season and beyond.

Speaker Change: Evel Jin CFO Johan will now take the lead.

Yoash Zohar: We anticipate that by the next quarter we will be able to provide a comprehensive sales forecast for 2025.

Yoash Zohar: Additionally, we are increasingly encountering large castor oil consumers who are interested in expanding the use of the oil, but prefer not to participate in castor grain cultivation or oil production themselves. Instead, they are interested in directly purchasing castor oil.

Yoash Zohar: Producer.

Yoash Zohar: Consequently, we have begun to explore the economic implications of extending our operation in the value chain to castor oil production, where Castera would take the lead in grain production and collaborate with established oil producers.

Yoash Zohar: I look forward to updating you on this matter should we make any, progress.

Yoash Zohar: In closing, I'm honored to serve as the CEO of Castera, a company with a promising future and significant economic potential.

Speaker Change: Okay.

Yoash Zohar: While our initial plan was to full feel this order is in 2023, unforeseen challenges in seed production caused delays resulting in only a partial supply within the issue.

As of June 32020 for Epogen, and held consolidated cash cash equivalents and short term bank deposits of approximately $29 million.

Yoash Zohar: Thank you very much.

Speaker Change: This amount does not include $8 $4 million of expected payments for the open purchase orders of Castella.

Yoash Zohar: Next slide.

Yoash Zohar: Since the beginning of 2024, Castera has been dedicated to expanding and stabilizing its seed production infrastructure, which is primarily supported by a network of seed growing subcontractors. In the first half of the year, we announced an expansion in both the number of seed growers we collaborate with and the geographical locations of our operations. We are now active in both Brazil and Africa, covering over 900 hectares.

Yoash Zohar: Next slide. Since the beginning of 2024, Castera has been dedicated to expanding and stabilizing its seed production infrastructure, which is primarily supported by a network of seed growing subcontractors. In the first half of the year, we announced an expansion in both the number of seed growers we collaborate with and the geographical locations of our operations. We are now active in both Brazil and Africa, covering over 900 hectares. We believe we are on course to fulfill all remaining orders by the end of the year and have already begun addressing our growing backlog for 2025. Additionally, in 2024, we secure the third seed order, which we expect to deliver within this year.

Speaker Change: Our consolidated cash usage during the second quarter of 2024 was approximately $5 $7 million.

Speaker Change: Excluding nothing by on biomarker Epogen and its other subsidiaries used approximately $2 $7 million in cash.

Speaker Change: Projected cash usage for 2024, excluding busy body and biomarker is expected to be around $8 million.

Yoash Zohar: We believe we are on course to fulfill all remaining orders by the end of the year and have already begun addressing our growing backlog for 2025.

Speaker Change: Marking a notable 36% decrease from approximately $12 $5 million in 2023.

Yoash Zohar: Additionally, in 2024, we secure the third seed order, which we expect to deliver within this year.

Yaron Elad: Evogene CFO Yaron will now take the lead.

Speaker Change: Revenues for the first half of 2024 were approximately $5 1 million a significant increase from $1 $3 million in the same period the previous year.

Yoash Zohar: Next slide.

Yoash Zohar: Next slide. I'm proud to announce the successful completion of our Castera seed harvesting season in Brazil with over 130 tons of high-quality seeds now ready for shipment from one of our trusted seed growers. This milestone reflects the effectiveness of our agricultural practices and the dedication of our team on the ground. These seeds will primarily support our valued customers in Africa, driving sustainable agriculture and innovation. Simultaneously, we have also commenced the Castera harvesting season in Africa.

This growth was primarily driven by revenues recognized from the <unk> licensing agreement with Coke, Debra and Agribusinesses, new collaboration with buyer.

Yoash Zohar: I'm proud to announce the successful completion of our Castera seed harvesting season in Brazil with over 130 tons of high-quality seeds now ready for shipment from one of our trusted seed growers. This milestone reflects the effectiveness of our agricultural practices and the dedication of our team on the ground.

Speaker Change: Revenues for the second quarter of 2024 were approximately.

Speaker Change: $900000 compared to $700000.

Yoash Zohar: These seeds will primarily support our valued customers in Africa, driving sustainable agriculture and innovation.

Speaker Change: In the same period the previous year.

Speaker Change: The increase was mainly attributable to increased revenues in luxury buyer.

Yoash Zohar: Simultaneously, we have also commenced the Castera harvesting season in Africa.

Speaker Change: Epogen anticipates continued revenue growth in the second half of 2024 compared to the previous year.

Yoash Zohar: Combined, the seeds from these two regions are expected to fulfill an 8.4 million dollars in order, received in 2023 and in 2024.

Yoash Zohar: Combined, the seeds from these two regions are expected to fulfill an 8.4 million dollars in order, received in 2023 and in 2024. The successful harvests are a testament to our strategic planning and execution capabilities. They also highlight Castera's ongoing commitment to delivering value to our customers to dependable supply chains and superior products. We take great pride in this accomplishment and look forward to maintaining this momentum as we progress further into 2025.

Yaron Elad: As of June 30, 2024, Evogene held consolidated cash, cash equivalents, and short-term bank, deposits of approximately $20.9 million. This amount does not include $8.4 million of expected payments for the open purchase orders of Castera. The consolidated cash usage during the second quarter of 2024 was approximately $5.7 million.

Yaron Elad: Excluding the VBio and Biomica, Evogene and its other subsidiaries used approximately $2.7 million in cash.

Yaron Elad: Projected cash usage for 2024, excluding the VBio and Biomica, is expected to be around, $8 million, marking a notable 36% decrease from approximately $12.5 million in 2023.

Speaker Change: Mainly based on Costa is forecast for seed or the supplier.

Speaker Change: R&D expenses net of non refundable grants for the first half of 2024.

Yoash Zohar: The successful harvests are a testament to our strategic planning and execution capabilities.

Yaron Elad: Revenues for the first half of 2024 were approximately $5.1 million, a significant, increase from $1.3 million in the same period the previous year. This growth was primarily driven by revenues recognized from the VBio's licensing agreement with Coteva and AgPenis' new collaboration with Bio.

Yaron Elad: Revenues for the second quarter of 2024 were approximately, $900,000 compared to $700,000 in the same period the previous year. The increase was mainly attributable to increased revenues in the VBio.

Yaron Elad: Evogene anticipates continued revenue growth in the second half of 2024 compared to the previous, year, mainly based on Castera's forecast for seed order supply.

Yoash Zohar: They also highlight Castera's ongoing commitment to delivering value to our customers to dependable supply chains and superior products.

Speaker Change: Were approximately $8 $8 million a.

Speaker Change: A decrease from $10 $2 million in the first half of 2023.

Yoash Zohar: We take great pride in this accomplishment and look forward to maintaining this momentum as we progress further into 2025.

Speaker Change: The decrease in expenses, mainly due to the series of economic activities and a decrease in certain development expenses in diameter as compared to the same period the previous year.

Yoash Zohar: Next slide.

Yoash Zohar: Next slide. I am pleased to inform you that we have initiated discussion with our customers to assess their seed requirements for the 2025 growing season and beyond, when anticipated by the next author, we will be able to provide a comprehensive sales forecast for 2025. Additionally, we are increasingly encountering large Castera oil consumers who are interested in extending the use of the oil, but refer not to participating in Castera drain cultivation or oil production themselves.

Yaron Elad: R&D expenses, net of non-refundable grants for the first half of 2024, were approximately $8.8 million, a decrease from $10.2 million in the first half of 2023. The decrease in expenses is mainly due to the, cease of economics activities and a decrease in certain development expenses in Biomica as compared to the same period the previous year.

Speaker Change: Research and development expenses net of non refundable grants from the second quarter of 2023, sorry, 2024 were approximately $4 million and decreased significantly as compared to approximately $5 $4 million in the same period in the previous year.

Yaron Elad: Research and development expenses, net of non-refundable grants for the second quarter of 2024, were approximately $4 million and decreased significantly as compared to approximately $5.4 million in the same period in the previous year. The decrease is mainly attributable to decreased expenses in Canonic and Biomica as mentioned above.

Yoash Zohar: I am pleased to inform you that we have initiated discussion with our customers to assess their seed requirements for the 2025 growing season and beyond, when anticipated by the next author, we will be able to provide a comprehensive sales forecast for 2025.

Yoash Zohar: Additionally, we are increasingly encountering large Castera oil consumers who are interested in extending the use of the oil, but refer not to participating in Castera drain cultivation or oil production themselves. Instead, they are interested in directly purchasing Castero oil.

Yoash Zohar: Instead, they are interested in directly purchasing Castero oil. Consequently, we have begun to explore the economic implications of expanding our operation in the value chain to Castero oil production, where Castera would take the lead in grain production and collaborate with established oil, producer.

The decrease is mainly attributable to decreased expenses and cannot make and biomarker as mentioned above.

Yaron Elad: Sales and marketing expenses for the first half of 2024 were approximately $1.9 million, a slight increase from approximately $1.7 million in the same period in the previous year. The increase is mainly attributable to increased sales and marketing activities in Costera during the first half of 2024 as compared to the same period in 2023.

Speaker Change: Sales and marketing expenses.

Speaker Change: For the first half of 2024 were approximately $1 $9 million.

Speaker Change: A slight increase from approximately $1 $7 million in the same period in the previous year.

Yoash Zohar: Consequently, we have begun to explore the economic implications of expanding our operation in the value chain to Castero oil production, where Castera would take the lead in grain production and collaborate with established oil, producer.

Speaker Change: The increase is mainly attributable to increased sales and marketing activities and costs. There are during the first half of 2024 as compared to the same period in 2023.

Yoash Zohar: I look forward to updating you on this matter should we make any progress.

Yoash Zohar: In closing, I'm honored to serve as the CEO of Castera, a company with a promising future and significant economic potential.

Yoash Zohar: In closing, I'm honored to serve as the CEO of Castera, a company with a promising future and significant economic potential. Thank you very much.

Yaron Elad: Sales and marketing expenses for the second quarter of 2024 were approximately $0.9 million and remained stable as compared to approximately $0.9 million in the same period in the previous year. General and administrative expenses for the first half of 2024 decreased slightly to approximately $3.2 million from approximately $3.3 million in the same period last year.

Speaker Change: Sales and marketing expenses for the second quarter of 2024 were approximately zero point $9 million and remained stable as compared to approximately zero point $9 million in the same period in the previous year.

Yoash Zohar: Thank you very much.

Yaron Eldad: Evogene CFO Yaron, we now take the lead. As of June 30, 2024, Evogene held consolidated cash, cash equivalence, and shortened bank deposits for approximately 20.9 million dollars. This amounts of not include 8.4 million dollars of expected payments for the open purchase orders of Castera. The consolidated cash usage during the second quarter of 2024 was approximately 5.7 million dollars.

Speaker Change: General and administrative expenses for the first half of 2024 decreased slides slightly to approximately $3.2 million from approximately $3 $3 million in the same period last year.

Yaron Elad: General and administrative expenses for the second quarter of 2024 decreased to approximately $1.5 million compared to approximately $1.8 million in the same period of the previous year, mainly due to decreased non-cash compensation and salary-related expenses in Lavie Bio and Biomeca, respectively, in the second quarter of 2024.

Speaker Change: General and administrative expenses for the second quarter of 2024 decreased to approximately $1 $5 million compared to approximately $1 $8 million in the same period of the previous year.

Speaker Change: Mainly due to decreased.

Yaron Eldad: Excluding the Zibio and Biomica, Evogene and its other subsidiaries used approximately 2.7 million dollars in cash.

Speaker Change: Noncash compensation and salary related expenses, and a re bio and biomarker respectively.

Yaron Eldad: Projected cash usage for 2024 excluding the Zibio and Biomica is expected to be around 8 million dollars, marking a notable 36% decrease from approximately 12.5 million dollars in 2023. Revenue for the first half of 2024 were approximately 5.1 million dollars. Its significance increased from 1.3 million dollars in the same period the previous year. This growth was primarily driven by revenues recognized from the Zibio's licensing agreement was called Deva, an act bonuses new collaboration with Biomica.

Speaker Change: In the second quarter of 2023 'twenty 'twenty four.

Yaron Elad: Other expenses. The decision to cease Canonics operations in the first half of 2024 resulted in other expenses of approximately $0.5 million, mainly due to impairment of fixed assets in the first quarter of 2024.

Speaker Change: Other expenses.

Speaker Change: The decision to cease economics operations in the first half of 2024 resulted in other expenses of approximately zero point $5 million.

Yaron Eldad: Revenue for the first half of 2024 were approximately 5.1 million dollars. Its significance increased from 1.3 million dollars in the same period the previous year. This growth was primarily driven by revenues recognized from the Zibio's licensing agreement was called Deva, an act bonuses new collaboration with Biomica.

Speaker Change: Mainly due to impairment of fixed assets in the first quarter of 2024.

Yaron Elad: The operating loss for the first half of 2024 was approximately $10.2 million, a significant decrease from approximately $14.7 million in the same period of the previous year, mainly due to increased revenues as mentioned above. The operating loss for the second quarter of 2024 was approximately $6.1 million, a decrease from $7.9 million in the same period of the previous year, mainly due to decreased operating expenses as mentioned above.

Speaker Change: The operating loss for the first half of 2024 was approximately $10 $2 million a significant decrease from approximately $14 $7 million in the same period of the previous year.

Speaker Change: Mainly due to increased revenues as mentioned above.

Yaron Eldad: Revenue for the second quarter of 2024 were approximately $900,000 compared to $700,000 in the same period the previous year. The increase was mainly attributable to increased revenues in Zibio. Evogene and dissipates continued revenue growth in the second half of 2024 compared to the previous year mainly based on Castera's forecast for seed order supply. R&D expenses net of refundable grants for the first half of 2024 were approximately 8.8 million dollars, a decrease from 10.2 million dollars in the first half of 2023.

Speaker Change: The operating loss for the second quarter of 2020 fall was approximately $6 $1 million a decrease from $7 $9 million in the same period.

Speaker Change: One of the previous year.

Speaker Change: Mainly due to decreased operating expenses as mentioned above.

Yaron Eldad: Evogene and dissipates continued revenue growth in the second half of 2024 compared to the previous year mainly based on Castera's forecast for seed order supply.

Yaron Elad: Financing income net for the first half of 2024 was $379,000 compared to financing expenses net of $86,000 in the same period of the previous year. This increase was primarily due to increased interest income and revaluation of the convertible sales.

Speaker Change: Financing income net for the first half of 2024.

Speaker Change: Was $379000 compared to financing expenses net of $86000 in the same period of the previous year.

Yaron Eldad: R&D expenses net of refundable grants for the first half of 2024 were approximately 8.8 million dollars, a decrease from 10.2 million dollars in the first half of 2023. The decrease in expenses is mainly due to the seeds of economic activities and a decrease in certain development expenses in Biomica as compared to the same period the previous year.

Speaker Change: This increase was primarily due to increased interest income and the revaluation of the convertible space.

Yaron Elad: Financing income net for the second quarter of 2024 was $138,000 compared to financing income net of $144,000 in the same period of the previous year.

Speaker Change: Financing income net for the second quarter of 'twenty 'twenty four was $138000 compared to financing income net of $144000 in the same period of the previous year.

Yaron Eldad: The decrease in expenses is mainly due to the seeds of economic activities and a decrease in certain development expenses in Biomica as compared to the same period the previous year. Revenue for the second quarter of 2024 were approximately 4 million dollars and decreased significantly as compared to approximately 5.4 million dollars in the same period in the previous year. The decrease is mainly attributable to decreased expenses in economic and Biomica as mentioned Sales and marketing expenses for the first half of 2024 were approximately $1.9 million.

Yaron Elad: The net loss for the first half of 2024 was approximately $9.8 million compared to approximately $14.8 million in the same period last year. The $5 million decreased in net loss was primarily due to increased revenues, decreased operating, expenses, partially offset by the one-time half a million dollar of the other expenses related to ceasing economics operation and an increase in financial income.

Yaron Eldad: Revenue for the second quarter of 2024 were approximately 4 million dollars and decreased significantly as compared to approximately 5.4 million dollars in the same period in the previous year.

Speaker Change: The net loss for the first half of 2024 was approximately $9 $8 million compared to approximately $14 $8 million in the same period last year.

Speaker Change: The $5 million decrease in net loss.

Speaker Change: Was primarily due to increased revenues decreased operating expenses, partially offset by some one time.

Yaron Eldad: The decrease is mainly attributable to decreased expenses in economic and Biomica as mentioned Sales and marketing expenses for the first half of 2024 were approximately $1.9 million.

A million dollar or the other expenses related to seasoning kinetics operation and an increase in financial income.

Yaron Elad: The net loss for the second quarter of 2024 was approximately $6 million compared to approximately, $7.8 million in the same period last year. The $1.8 million decrease in net loss was primarily due to decreased operating expenses, as mentioned above.

Speaker Change: The net loss for the second quarter of 2024 was approximately $6 million compared to approximately $7 million to $8 million in the same period last year.

Yaron Eldad: A slight increase from approximately $1.7 million in the same period in the previous year.

Yaron Eldad: A slight increase from approximately $1.7 million in the same period in the previous year. The increase is mainly achievable to increase sales and marketing activities in Castella due to the first half of 2024 as compared to the same period in 2023. Sales and marketing expenses for the second quarter of 2024 were approximately $0.9 million and remained stable as compared to approximately $0.9 million in the same period in the previous year. General and administrative expenses for the first half of 2024 decreased slightly to approximately $3.2 million from approximately $3.3 million in the same period last year.

Yaron Eldad: The increase is mainly achievable to increase sales and marketing activities in Castella due to the first half of 2024 as compared to the same period in 2023.

Speaker Change: The $1 8 million decrease in net loss was primarily due to decreased operating expenses as mentioned above.

Operator: Operator?

Operator: Operator Thank you.

Yaron Eldad: Sales and marketing expenses for the second quarter of 2024 were approximately $0.9 million and remained stable as compared to approximately $0.9 million in the same period in the previous year. General and administrative expenses for the first half of 2024 decreased slightly to approximately $3.2 million from approximately $3.3 million in the same period last year. General and administrative expenses for the second quarter of 2024 decreased to approximately $1.5 million compared to approximately $1.8 million in the same period of the previous year, mainly due to decreased non-cash compensation and salary-related expenses in la vie bio and bionica respectively in the second quarter of 2023, 2024.

Speaker Change: Operator.

Speaker Change: Thank you ladies and gentlemen at this time, we will begin the question and answer session in order to send the question is the chat button located at the bottom of your screen. Please type your full name and your company's name before the question.

Operator: Ladies and gentlemen, at this time we will begin the question and answer session.

Operator: In order to send a question, use the chat button located at the bottom of your screen.

Operator: Please type your full name and your company's name before the question.

Speaker Change: Yes.

Operator: The first question is from Ben.

Speaker Change: The first question is from Ben.

Operator: In your prepared remarks, you noted Castera is positioning to fulfill its growing backlog, for 2025.

Speaker Change: In your prepared remarks, you noted cash stirrer is positioning to fulfill its growing backlog for 2025.

Yaron Eldad: General and administrative expenses for the second quarter of 2024 decreased to approximately $1.5 million compared to approximately $1.8 million in the same period of the previous year, mainly due to decreased non-cash compensation and salary-related expenses in la vie bio and bionica respectively in the second quarter of 2023, 2024. Other expenses, the decision to see economic operations in the first half of 2024 resulted in other expenses of approximately $0.5 million, mainly due to impairment of fixed assets in the first quarter of 2024.

Operator: What is the current 2025 backlog?

Speaker Change: What is the current 'twenty twenty-five backlog.

Operator: And if Castera evolves from seed production to oil production, would this be based in, Africa or Brazil?

Speaker Change: And if go stirrer evolves from seed production to oil production would this be based in Africa, or Brazil, if in Brazil can soy crush facilities be used for grain processing.

Operator: If in Brazil, can soy-crushed facilities be used for grain processing?

Ofer Haviv: Hi Ben, this is Ofer, it's great to have you with us.

Speaker Change: Hi, Ben This is ofer, it's great to have you with us.

Ofer Haviv: I will address the first question and Yoash, that is sitting next to me, will address the, second one.

Yaron Eldad: Other expenses, the decision to see economic operations in the first half of 2024 resulted in other expenses of approximately $0.5 million, mainly due to impairment of fixed assets in the first quarter of 2024.

Speaker Change: I will address the first question and you answered if you sit next to me will address the second one.

Ofer Haviv: So, as Yoash mentioned, yes, Castera starts to work on its backlog for 2025. But as he also mentioned, we believe that we will be able to disclose numbers only at, the next analyst call, and probably we will do so.

Speaker Change: Sir you asked mention yes, we prefer a thought to walk on mute Sir.

Speaker Change: For 2025, but you also mention we believe and we believe that we will be able to disclose numbers only.

Speaker Change: The next analyst call.

Yaron Eldad: The operating loss for the first half of 2024 was approximately 10.2 million dollars, a significant decrease from approximately $14.7 million in the same period of the previous year, mainly due to increased revenues as mentioned above. The operating loss for the second quarter of 2024 was approximately $6.1 million, a decrease from $7.9 million in the same period of the previous year, mainly due to decreased operating expenses as mentioned above.

Speaker Change: Uh huh.

Speaker Change: And probably we will do so so I feel and we feel that currently is a little bit too early.

Ofer Haviv: So, we feel that currently it's a little bit too early, but yes, we feel quite positive, about next year's production and sales.

Speaker Change: But yes.

Speaker Change: We feel quite positive about.

Speaker Change: Our next year production and sell.

Ofer Haviv: With respect to the second question, I would like to ask Yoash to take the lead on.

Speaker Change: We expect the second question I would like.

Ask you actually take the lead on I just want to emphasize that we don't have any extension to leave it in the seed business, even if it will be decided in the future again, it's still under evaluation.

Ofer Haviv: I just want to emphasize that we don't have any intention to leave the seed business, even if we decided in the future, again, it's still under evaluation, even if we decided to move to the oil production.

Speaker Change: Even if it was decided to move to the oil production. So defeated production will always be the basic activity for the company and the oil production could be in addition.

Ofer Haviv: So, the seed production will always be the basic activity for the company, and oil production, could be in addition.

Yaron Eldad: Financing income net for the first half of 2024 was $379,000 compared to financing expenses net of $86,000 in the same period of the previous year. This increase was primarily due to increased interest income and a revaluation of the convertible states.

Ofer Haviv: Yoash?

Speaker Change: You asked.

Yoash Zohar: Yeah, hi, Ben.

Speaker Change: Yeah, Hi, Ben regarding your question.

Yoash Zohar: Regarding your question, we are currently evaluating both locations in Africa and in, Brazil.

Speaker Change: We are currently evaluating both locations in Africa, and in Brazil, I can say it can TFC, which one will be chosen.

Yoash Zohar: I can't say yet, can't yet say which one will be chosen.

Yaron Eldad: This increase was primarily due to increased interest income and a revaluation of the convertible states. Financing income net for the second quarter of 2024 was $108,000 compared to financing income net of $144,000 in the same period of the previous year. The next loss for the first half of 2024 was approximately $9.8 million compared to approximately $14.8 million in the same period last year. The $5 million decreased in net class was primarily due to increased revenues, decreased operating expenses, partially offset by the one time half a million dollar of the other expenses related to seizing economics operation and an increase in financial income.

Yoash Zohar: In regarding to using soy brushing facilities to do castor, technically it's possible. I mean, you're talking about the same machinery.

Speaker Change: And regarding to using soy crushing facilities to Luca store technically it's possible I mean, you're talking about the same.

Yaron Eldad: Financing income net for the second quarter of 2024 was $108,000 compared to financing income net of $144,000 in the same period of the previous year.

Speaker Change: Machinery.

Speaker Change: There are other issues.

Yoash Zohar: I'm not sure whether a soy crushers will be incentivized enough to do castor but currently, there's over capacity of castor crushing in Brazil.

Speaker Change: And I'm not sure whether a soy crushers will be incentivised enough, we'll do customer, but currently there is over capacity of customer crushing.

Yaron Eldad: The next loss for the first half of 2024 was approximately $9.8 million compared to approximately $14.8 million in the same period last year. The $5 million decreased in net class was primarily due to increased revenues, decreased operating expenses, partially offset by the one time half a million dollar of the other expenses related to seizing economics operation and an increase in financial income. The net loss for the second quarter of 2024 was approximately $6 million compared to a approximately $7.8 million in the same period last year. The $1.8 million decreased in net loss was primarily due to decreased operating expenses as mentioned above.

Speaker Change: In Brazil.

And we've talked to a couple of crushers at least for the initial stages of such operation There is no problem.

Yoash Zohar: We've talked to a couple of crushers at least for the initial stages of such operation there's no problem where to crush the oil.

Speaker Change: Where to crush in Italy, the operation will grow somewhat.

Yoash Zohar: The operation will grow somewhat then we'll have to find other solutions.

Speaker Change: Then we lived through.

Speaker Change: Find other solutions.

Speaker Change: Yeah.

Operator: The next question from Stephen Goldman, can you provide an update on AgPlanus?

Speaker Change: The next question.

Speaker Change: From Steven Goldman can you provide an update on AG planners.

Speaker Change: Uh huh.

Operator: Hi Stephen, this is Ofer and next to me Dan Galvin the CEO of AgPlanus is sitting and he, will address this question but in high level the reason we put specific information about AgPlanus is mainly because there was no press releases coming from AgPlanus this quarter, and we prefer to focus only on significant milestones in my report but yes we can give some update on the AgPlanus activity.

Speaker Change: Hi, Stephen This is Oscar and next to me.

Yaron Eldad: The net loss for the second quarter of 2024 was approximately $6 million compared to a approximately $7.8 million in the same period last year. The $1.8 million decreased in net loss was primarily due to decreased operating expenses as mentioned above.

Speaker Change: Dan go over into the field <unk> is sitting and he will address discretion, but in high level dividend, who can put specific.

Speaker Change: Information about the AG lenders is mainly because there was no.

Speaker Change: The address relief is coming from <unk> this quarter.

Speaker Change: And we prefer to focus only on significant milestones in my report, but Tim.

Operator: Operator Thank you.

Dan Galvin: Dan, can you take it?

Tim: Yes, we can give some update on the excellent activity than any ticket yes. Thank you very much and thank you for the question.

Operator: Ladies and gentlemen, at this time we will begin the question and answer session in order to send a question use the chat button located at the bottom of your screen.

Operator: Ladies and gentlemen, at this time we will begin the question and answer session in order to send a question use the chat button located at the bottom of your screen. Please type your full name and your company's name before the question.

Tim: We are very pleased <unk> Dennis.

Tim: Since we announced that we had answered.

Operator: Please type your full name and your company's name before the question.

Speaker Change: And our collaborative agreement with Bayer essentially our entire pipeline.

Ben: The first question is from Ben.

Ben: The first question is from Ben. In your prepared remarks, you noted Kestera is positioning to fulfill its growing backlog for 2025. What is the current 2025 backlog?

Speaker Change: <unk> bin.

Speaker Change: Partner should we have a couple of projects going with <unk>, one with Bayer.

Ben: In your prepared remarks, you noted Kestera is positioning to fulfill its growing backlog for 2025.

Ofer Haviv: And if Kestera evolves from seed production to oil production, would this be based in Africa or Brazil? If in Brazil, can soy crush facilities be used for grain processing?

Speaker Change: We are very limited and giving updates about this unless we hit a milestone, which we did with <unk>, where we declared an <unk>.

Ben: What is the current 2025 backlog?

Speaker Change: Which was also in the first order.

Speaker Change: So right now we have not been able to release any better weird happy with the progress of these programs and we believe our partners are also heavy in parallel we announced starting to build a new pipeline again, then the partners when we can.

Ben: And if Kestera evolves from seed production to oil production, would this be based in Africa or Brazil?

Ben: If in Brazil, can soy crush facilities be used for grain processing?

Speaker Change: Our focus is right now in fungicides and we're very very excited about what we are doing we hope we'll be able to have some.

Ofer Haviv: Hi Ben, this is offers great to have you with us.

Ofer Haviv: Hi Ben, this is offers great to have you with us. I will address the first question and you ask that the 16 next to me will address the second one. So as you asked mentioned, yes, Kestera starts to work on its backlog for 2025. But as you also mentioned, we believe that we will be able to disclose numbers only at the next analyst goal. And probably we will do so. So I feel that the current is a little bit too early.

Ofer Haviv: I will address the first question and you ask that the 16 next to me will address the second one.

Speaker Change: Press releases and some.

Speaker Change: There's something more to share about these programs that we are going after some of the biggest fungi diseases, whether it's David raso that block or the blockchain. So that less of a smarts. We are working on DSO I would say.

Ofer Haviv: So as you asked mentioned, yes, Kestera starts to work on its backlog for 2025.

Ofer Haviv: But as you also mentioned, we believe that we will be able to disclose numbers only at the next analyst goal.

Speaker Change: The work on these or focused on generating new candidates and finding new partners for these candidates. So I hope that next quarter, we'll be able to give something more detailed weather about the celebrations or our own pipeline.

Ofer Haviv: And probably we will do so.

Ofer Haviv: So I feel that the current is a little bit too early.

Ofer Haviv: But yes, we feel quite positive about a next year production and sell.

Ofer Haviv: But yes, we feel quite positive about a next year production and sell. I would like to ask you ask to take the lead on. I just want to emphasize that we don't have any attention to live the seed business, even if we will decided in the future again. It's still under evaluation. Even if we will decided to move to the oil production, so the seed production will always be the basic activity for the company and the oil production could be in addition.

Ofer Haviv: I would like to ask you ask to take the lead on.

The next questions from Scott Henry of a G P.

Ofer Haviv: I just want to emphasize that we don't have any attention to live the seed business, even if we will decided in the future again.

Speaker Change: Could you talk about the trajectory of course, Dara Castor seed launched in two H 'twenty for timing of revenue realization.

Ofer Haviv: It's still under evaluation.

Ofer Haviv: Even if we will decided to move to the oil production, so the seed production will always be the basic activity for the company and the oil production could be in addition.

Scott Henry: And what is the current capacity of Castor seed production in 2024.

Speaker Change: And how could that change in 2025, and what is the current gross margin profile of course, thereon and where could it go with higher scale.

Yoash Zohar: You ask?

Yoash Zohar: Yeah, hi Ben, regarding your question, we are currently evaluating both locations in Africa and in Brazil.

Ofer Haviv: You ask? Yeah, hi Ben, regarding your question, we are currently evaluating both locations in Africa and in Brazil. I can't say which one will be chosen. In regarding to using soy rushing facilities to do a store technically, it's possible. I mean, you're talking about the same machinery. I'm not sure whether soy crushers will be incentivized enough to do castor, but currently there's over capacity of castor crushing in Brazil. We've talked to a couple of crushers, at least for the initial stages of such operation, there's no problem where to crush the oil. The operation will grow somewhere, then we'll have to find out the solutions.

Speaker Change: And with regard to the yellows launch when should we expect a material revenue contribution how should we think about the launch curve for the product.

Yoash Zohar: I can't say which one will be chosen.

Yoash Zohar: In regarding to using soy rushing facilities to do a store technically, it's possible. I mean, you're talking about the same machinery.

Dan Galvin: Yes, thank you very much and thank you for the question.

Dan Galvin: We are very busy at AgPlanus since we announced that we had entered a collaborative agreement with Bayer.

Speaker Change: Hi, Scott this is ofer.

Ofer Clubby: I will try to address maybe the first question. The other question I will ask you asked to go and.

Yoash Zohar: I'm not sure whether soy crushers will be incentivized enough to do castor, but currently there's over capacity of castor crushing in Brazil.

Speaker Change: We also have with US here are meet.

Speaker Change: Let me bio CEO. So he will help me with the last question.

Dan Galvin: Essentially our entire pipeline has been partnered.

Yoash Zohar: We've talked to a couple of crushers, at least for the initial stages of such operation, there's no problem where to crush the oil.

So.

Amit: And with respect to revenue recognition, so our target is to be able to.

Yoash Zohar: The operation will grow somewhere, then we'll have to find out the solutions.

Amit: Transfer all the existing game.

Speaker Change: Purchase order, we had from 2023 and from 'twenty to 'twenty four hopefully until the end of this year. So I hope that we'll be able to recognize most of the amount meaning the eight point.

Steven Goldman: The next question from Steven Goldman, can you provide an update on Ag planus?

Steven Goldman: The next question from Steven Goldman, can you provide an update on Ag planus? Hi Steven, this is Ofer.

Dan Galvin: We have a couple of projects going with Cotiva and one with Bayer.

Speaker Change: $4 billion and during the second half of 2024.

Ofer Haviv: Hi Steven, this is Ofer.

Dan Galvin: We are very limited in giving updates about these unless we hit a milestone which we did, with Cotiva and one of them where we declared an exit which was also in the first quarter.

Ofer Haviv: Next to me, Dan Gelvan, the CEO of Ag planus is sitting and he will address these questions, but in high levels, the reasons we put specific information about Ag planus is mainly because there was no press releases coming from Ag planus this quarter. And we prefer to focus only on significant milestones in my report, but yes, we can give some update on Ag planus activity. Dan, can we take it? Yes, thank you very much and thank you for the question.

Speaker Change: I think that we already mentioned that we already in the process to start to shift.

Speaker Change: Phil.

Speaker Change: From a Brazil to our partners in Africa.

Dan Galvin: So right now we have not been able to release any data.

Dan Galvin: We are happy with the progress of, these programs and we believe our partners are also happy.

Speaker Change: And it.

Phil: It could be even much easier when we start to finish to harvesting season in <unk>.

Dan Gelvan: And we prefer to focus only on significant milestones in my report, but yes, we can give some update on Ag planus activity.

Speaker Change: Africa, because we'll be in a few months because the sewing was different.

Dan Gelvan: Dan, can we take it?

Speaker Change: <unk> the floor.

Dan Galvin: In parallel we are now starting to build a new pipeline.

Dan Gelvan: Yes, thank you very much and thank you for the question.

Speaker Change: What.

Dan Galvin: Again they will be partners when we can.

Speaker Change: And because they're shipping it from Teekay from Kenya to audit territory in Africa, I think be much easier. So as I said bottom line, we hope in the target ourself.

Dan Gelvan: We are very busy at Ag planus since we announced that we had answered a collaborative agreement with Bayer. Essentially, our entire pipeline has been partnered.

Ofer Haviv: We are very busy at Ag planus since we announced that we had answered a collaborative agreement with Bayer. Essentially, our entire pipeline has been partnered. We have a couple of projects going with Kotiva and one with Bayer. We have very limited in giving updates about these unless we hit a milestone, which we did with Kotiva and one of them, where we declared an active, which was also in the first quarter. So right now we have not been able to release any data. We are happy with the progress of these programs and we believe our partners are also happy.

Speaker Change: I'll be able to deliver.

Speaker Change: Our decision during the second half of 2024.

Dan Galvin: Our focus is right now on fungicides.

Dan Galvin: We are very very excited about what we are doing.

Dan Gelvan: We have a couple of projects going with Kotiva and one with Bayer.

Dan Galvin: We hope we'll be able to have some press releases and something more to share about these programs.

Speaker Change: Could be.

Dan Galvin: We are going after some of the biggest fungicide releases whether it's the rusts or the blotches or the blasts or the smuts.

Speaker Change: Small delays, but.

Dan Gelvan: We have very limited in giving updates about these unless we hit a milestone, which we did with Kotiva and one of them, where we declared an active, which was also in the first quarter.

Speaker Change: This is our expansion.

Dan Galvin: We are working on these so I would say the work on these are focused on generating, new candidates and finding new partners for these candidates.

Speaker Change: With respect to the second question is what is the current capacity per Castor seed production in 2020 book and how could that change in 2025 I will ask you asked to address this question.

Dan Gelvan: So right now we have not been able to release any data.

Dan Galvin: So I hope that next quarter we'll be able to give something more detailed whether about the collaborations or our own pipeline.

Operator: The next question is from Scott Henry of AGP.

Dan Gelvan: We are happy with the progress of these programs and we believe our partners are also happy.

Speaker Change: So the current capacity for 'twenty 'twenty four is that we actually are growing.

Dan Gelvan: In parallel, we are now starting to build a new pipeline.

Dan Gelvan: In parallel, we are now starting to build a new pipeline. Again, they will be partners when we can. Our focus is right now on frontline sites. We are very, very excited about what we are doing. We hope we will be able to have some press releases and something more to share about these programs. We are going after some of the biggest frontline diseases, whether it is the rest of the blood or the bloodshed or the blood of the smuts. We are working on these so I would say the work on these are focused on generating new candidates and finding new partners for these candidates.

Speaker Change: It beat over 1000 sectors together in Brazil and.

Dan Gelvan: Again, they will be partners when we can.

Dan Gelvan: Our focus is right now on frontline sites.

Speaker Change: Africa.

Speaker Change: We expect.

Dan Gelvan: We are very, very excited about what we are doing.

Speaker Change: At the bare minimum at least 800 tons of seeds and possibly are significantly more than that.

Dan Gelvan: We hope we will be able to have some press releases and something more to share about these programs.

Speaker Change: For 2025, we can easily continue into the same quantity, but we also posed to increase and even double if we really would be required.

Dan Gelvan: We are going after some of the biggest frontline diseases, whether it is the rest of the blood or the bloodshed or the blood of the smuts.

Speaker Change: I think I think the good news coming from cost era. In 2024 is that thanks to the activity of the company I don't think that a fifth production is a limitation on.

Dan Gelvan: We are working on these so I would say the work on these are focused on generating new candidates and finding new partners for these candidates.

Dan Gelvan: So I hope that next quarter we will be able to give something more details whether about the collaborations or our own pipeline.

Speaker Change: The company and I think Thats nowhere more focusing on the quality, the a pricing et cetera et cetera. So it's really a very very.

Speaker Change: In a step forward in the concrete progress with requests with respect to the third question. What is the corn gross margin profile broke a steroid where could it go.

Dan Gelvan: So I hope that next quarter we will be able to give something more details whether about the collaborations or our own pipeline.

Scott Henry: The next questions from Scott Henry of AGP. Could you talk about the trajectory of the Castera Caster seed launch in 2H24, timing of revenue realization and what is the current capacity of Caster seed production in 2024 and how could that change in 2025 and what is the current growth margin profile of Castera and where could it go with higher scale and with regard to the yellow launch, when should we expect a material revenue contribution? How should we think about the launch curve for the product?

Scott Henry: The next questions from Scott Henry of AGP.

Speaker Change: With higher scale, so I can get into the numbers, but at least to our calculation with respect to seed product fit sales probably this is the area will be highest.

Speaker Change: Margin usually this is the GPC drift in the AG industry.

With respect, but there is also a very very nice gross margin. According to our calculation in case of the.

Speaker Change: Oil production.

Speaker Change: But this is still you know as I mentioned, it's under evaluation and of course, if we decided to move forward into the direction. We won't jump you know we have significant investment we will do it step by step to assure that we our present projection.

Scott Henry: Could you talk about the trajectory of the Castera Caster seed launch in 2H24, timing of revenue realization and what is the current capacity of Caster seed production in 2024 and how could that change in 2025 and what is the current growth margin profile of Castera and where could it go with higher scale and with regard to the yellow launch, when should we expect a material revenue contribution?

Sure.

Ofer Haviv: Hi Scott, this is Ofer, I will try to address maybe the first question, the other two questions I will ask you as to go, and we also have with us here Amit, a lobby bio CEO, so he will help me with the last question. So, with respect to revenue recognition, so our target is to be able to transfer all the existing purchase order we have from 2023 and from 2024, hopefully until the end of this year, so we will be able to recognize most of the amount, meaning the $8.4 billion during the second half of 2024.

Speaker Change: We became reality the margin in <unk>.

Speaker Change: NIM with respect to Cds is quite high and the main reason is because please remember that we invest in the last 10 15 years lots of money in achieving you know the quality of variety Casa Rafi, we have today.

Speaker Change: And in a way this gross margin is compensates.

Speaker Change: On the long time investment bring it bring us to where we are today.

Speaker Change: Moving to the last question with regard to the yellow launch when should we expect a material revenue contribution how should we think about the launch curve or the product. So I will ask Amit to take the lead on this question Amit.

Operator: Could you talk about the trajectory, of the castera caster seed launch in 2H24 timing of revenue realization and what is the current capacity of caster seed production in 2024 and how could that change in 2025 and what is the current gross margin profile of castera and where could it go with higher scale and with regard to the yallows launch when should we expect a material revenue contribution?

Speaker Change: I think the highest carbon based for the question.

Speaker Change: So just a just a bit about where we are in the in the yellow launch so launched yellows.

Ofer Haviv: I think that we already mentioned that we already in the process to start to shift fees from Brazil to our partners in Africa and it would be even much easier when we started to finish the harvesting season in Africa, it will be in a few months because the sewing was in a different time slot and because then shipping it from Kenya to other territory in Africa, it would be much easier. So, as I said, bottom line we hope and target ourselves to be able to deliver all the fees during the second half of 2024.

Speaker Change: In Canada this year.

Speaker Change: And we were able to line up a few significant re theaters and it's an adoption market. So we were able to have re theaters start selling and start engaging the farmers are our plan is for this year, we did the additional field trials for more significant crops.

Speaker Change: So our focus is to move from wheat, and durum in barley to soybean and canola, we see the biggest potential of yellow in soybean and canola and if we receive the positive results. We expect by the end of this year next year, we will already be ready to launch these products.

Operator: How should we think about the launch curve for the product?

Speaker Change: <unk> brought up for soybean and canola in North America.

Ofer Haviv: You know, there would be a small delay, but this is our intention. With respect to the second question is, what is the current capacity for capacity production in 2024 and how could it change in 2025? I will ask you as to address this question. So, the current capacity for 2024 is that we are actually growing a bit over a thousand hectares together in Brazil and Africa. We expect at the bare minimum at least 800 tons of seeds and possibly significantly more than that.

Speaker Change: And the curve that we expect to see is next year will be the adoption of the early adopters in soybean canola and by 2026, we're supposed to see a material growth in sales per yellows.

Speaker Change: Thank you Amit.

Speaker Change: Okay.

Steven Goldman: The next question from Steven Goldman assuming the $8 $4 million in Castor seeds are received by Q4 biker Stirrer, what do you expect <unk> cash position will be by the end of 2024.

Operator: Hi, Scott, this is Ofer.

Ofer Haviv: For 2025, we can easily continue and do the same quantity, but we also post to increase and even double if we will be required. I think the good news coming from Kostera in 2024 is that thanks to the activity of the company, I don't think that seed production is a limitation on the company and I think that now we are focusing on the quality, pricing, etc. So, it's really very, very step forward in the company progress.

Speaker Change: Hi, Stephen This is where you are wrong.

Ofer Haviv: I will try to address maybe the first question.

Speaker Change: Thanks for the question.

Ofer Haviv: The other two questions, I will ask Yoash to go.

Speaker Change: Assuming the April $4 million of course, the seats are received by the end of the year, we expect our cash position to be somewhere around $18 million to $19 million.

Ofer Haviv: And we also have with us here, Amit, a Labibio CEO, so he will help me with the last question.

Ofer Haviv: So, with respect to revenue recognition, so our target is to be able to transfer all the existing purchase order we have from 2023 and from 2024, hopefully until the end of this year.

Ofer Haviv: So, I hope that we'll be able to recognize most of the amount, meaning the 8.4 billion dollars during the second half of 2024.

Ofer Haviv: I think that we already mentioned that we're already in the process to start to shift seed from Brazil to our partners in Africa.

Ofer Haviv: And it will be even much easier when we start to finish the harvesting season in Africa.

Ofer Haviv: It will be in a few months because the sowing was in a different time slot. And because shipping it from Kenya to other territory in Africa can be much easier.

Ofer Haviv: So, as I said, bottom line, we hope and target ourselves to be able to deliver all the seeds during the second half of 2024. You know, there could be small delays, but this is our intention.

Yoash Zohar: I will ask Yoash to address this question.

Ofer Haviv: With respect to the second question, is what is the current capacity for caster seed production in 2024?

Yoash Zohar: So, the current capacity for 2024 is that we're actually growing a bit over a thousand hectares together in Brazil and Africa.

Ofer Haviv: And how could it change in 2025?

Yoash Zohar: We expect the bare minimum, at least 800 tons of seeds and possibly significantly more than that.

Speaker Change: I assume that not all the.

Yoash Zohar: For 2025, we can easily continue and do the same quantity, but we also pose to increase and even double if we will be required.

Yoash Zohar: I think the good news coming from Castera in 2024 is that thanks to the activity of the company, I don't think that seed production is a limitation on the company.

Yoash Zohar: And I think that now we are more focusing on the quality, the pricing, et cetera, et cetera.

Speaker Change: The cash will be received by the end of the year or so.

Yoash Zohar: So, it's really a very, very step forward in the company progress.

Yoash Zohar: With respect to the third question, what is the current gross margin profile for Castera and where could it go with higher scale?

Yoash Zohar: We will do it step by step to assure that our projection became reality.

Yoash Zohar: So, I can get into the numbers, but at least to our calculation, with respect to seed sales, probably this is the area with the highest margin.

Yoash Zohar: The margin with respect to seed is quite high.

Yoash Zohar: Usually, this is the situation in the ag industry.

Yoash Zohar: And the main reason is because please remember that we invest in the last 10, 15 years, lots of money in achieving the quality of the variety, customer variety we have today.

Speaker Change: <unk>.

Yoash Zohar: But there is also a very, very nice gross margin according to our calculation in case of oil production.

Yoash Zohar: And in a way, this gross margin compensates us on the long time investment, bringing us to where we are today.

Yoash Zohar: But this is still, as I mentioned, it's under evaluation.

Yoash Zohar: Moving to the last question, with regard to the Yalos launch, when should we expect a material revenue contribution?

Speaker Change: The cash position plus receivables from.

Yoash Zohar: And of course, if we decided to move forward into this direction, we won't jump with a significant investment.

Amit: How should we think about the launch curve for the product?

Speaker Change: The <unk>.

Speaker Change: So together, we'll be somewhere around $18 million to $19 million by the end of the year.

Ofer Haviv: With respect to the third question, what is the current growth margin profile for Kostera and where could it go with higher scale? So, I can get into the numbers, but at least to our calculation, with respect to seed sales, probably this is the earliest margin, usually this is the situation in the ad industry, with respect to, but there is also very, very nice growth margin according to our calculation in case of an oil production.

Speaker Change: There are no further questions at this time, Mr. <unk> would you like to make your concluding statement.

Amit: So, I will ask Amit to take the lead on this question.

Amit: Amit?

Speaker Change: Okay. Thank.

Amit: Hi Scott, and thanks for the question.

Amit: So, just a bit about where we are in the Yalos launch. So, we launched Yalos in Canada this year, and we were able to line up a few significant retailers and it's an adoption market. So, we were able to have retailers start selling, start engaging farmers.

Speaker Change #100: Thank you all for participating today, we look forward to our next meeting in the coming quarter wishing you all a great day ahead. Thank you.

Amit: Our plan is for this year, we did additional field trials for more significant crops.

Operator: The next question from Stephen Goldman.

Amit: So, our focus is to move from wheat, durum and barley to soybean and canola.

Operator: Assuming the $8.4 million in caster seeds are received by Q4 by Castera, what do you expect Evogen's cash position will be by the end of 2024?

Amit: We see the biggest potential of Yalos in soybean and canola. And if we receive the positive results we expect by the end of this year, next year we will already be ready to launch these products, the product for soybean and canola in North America.

Yaron Elad: Hi Stephen, this is Yaron.

Amit: And the curve that we expect to see is next year will be the adoption of the early adopters in soybean and canola.

Yaron Elad: Thanks for the question.

Amit: And by 2026, we're supposed to see a material growth in sales for Yalos.

Yaron Elad: Assuming the $8.4 million of caster seeds are received by the end of the year, we expect our cash position to be somewhere around $18 to $19 million.

Ofer Haviv: Yes.

Amit: Thank you, Amit.

Yaron Elad: I assume that not all the cash will be received by the end of the year.

Yaron Elad: So the cash position plus receivables from the Castera sales together, will be somewhere around $18 to $19 million by the end of the year.

Ofer Haviv: Thank you all for your participating today.

Operator: There are no further questions at this time.

Ofer Haviv: We look forward to our next meeting in the coming quarter.

Ofer Haviv: Mr. Haviv, would you like to make your concluding statement?

Ofer Haviv: Wishing you all a great day ahead.

Ofer Haviv: Thank you.

Operator: This concludes Evogen's second quarter 2024 results investor webinar.

Speaker Change #101: Thank you. This concludes <unk> second quarter 2024 results Investor Webinar. Thank you for your participation you May go ahead and disconnect.

Ofer Haviv: But this is still, you know, as I mentioned, it's under evaluation and of course, if we decided to move forward into this direction, we won't jump, you know, with a significant investment, we will do it step by step to assure that we, our projection, our became reality. The margin with respect to seed is quite high and the main reason is because please remember that we invest in the last 10, 15 years, lots of money in achieving, you know, the quality of a variety, Kostera variety we have today.

Operator: Thank you for your participation.

Operator: You may go ahead and disconnect.

Operator: Goodbye.

Speaker Change #101: Goodbye.

Ofer Haviv: And in a way, this growth margin is compensated on the long-time investment, bring us where we are today. Moving to the last question, with regard to the yellow slounge, when should we expect a material revenue contribution? How should we think about the launch per for the product? So, I will ask Amit to take the lead on this question. Amit? Hi, thanks. Hi, Scott, thanks for the question. So, just a bit about where we are in the yellow slounge.

Scott Henry: How should we think about the launch curve for the product?

Ofer Haviv: So, with respect to revenue recognition, so our target is to be able to transfer all the existing purchase order we have from 2023 and from 2024, hopefully until the end of this year, so we will be able to recognize most of the amount, meaning the $8.4 billion during the second half of 2024.

Ofer Haviv: So, as I said, bottom line we hope and target ourselves to be able to deliver all the fees during the second half of 2024.

Ofer Haviv: So, we launched yellows in Canada this year. And we were able to line up a few significant retailers and it's an adoption market. So, we were able to have retailers start selling, start engaging farmers. Our plan is for this year, we did additional field trials for more significant crops. So, our focus is to move from wheat, German barley to soybean and canola. We see the biggest potential of yellows in soybean and canola.

Ofer Haviv: You know, there would be a small delay, but this is our intention.

Yoash Zohar: With respect to the second question is, what is the current capacity for capacity production in 2024 and how could it change in 2025?

Yoash Zohar: I will ask you as to address this question.

Yoash Zohar: So, the current capacity for 2024 is that we are actually growing a bit over a thousand hectares together in Brazil and Africa.

Yoash Zohar: We expect at the bare minimum at least 800 tons of seeds and possibly significantly more than that.

Ofer Haviv: And if we receive the positive result, we expect by the end of this year. Next year, we will already be ready to launch these products for soybean and canola in North America. And the curve that we expect to see is next year will be the adoption of the early adopters in soybean canola and by 2026, we're supposed to see an material growth in fields for yellow. Thank you, Amit. The next question from Stephen Goldman, assuming the $8.4 million in cast receipts are received by Q4 by Castera, what do you expect Evigen's cash position will be by the end of 2024?

Yoash Zohar: For 2025, we can easily continue and do the same quantity, but we also post to increase and even double if we will be required.

Yoash Zohar: I think the good news coming from Kostera in 2024 is that thanks to the activity of the company, I don't think that seed production is a limitation on the company and I think that now we are focusing on the quality, pricing, etc.

Yoash Zohar: So, it's really very, very step forward in the company progress.

Yoash Zohar: With respect to the third question, what is the current growth margin profile for Kostera and where could it go with higher scale?

Ofer Haviv: Hi Stephen, this is the Yaron. Thanks for the question. Assuming the $8.4 million of cast receipts are received by the end of the year, we expect our cash position to be somewhere around $18 to $19 million. I assume that not all the cash will be received by the end of the year. So the cash position plus receivables from the Castera sales together will be somewhere around $18 to $19 million by the end of the year. There are no further questions at this time.

Yoash Zohar: So, I can get into the numbers, but at least to our calculation, with respect to seed sales, probably this is the earliest margin, usually this is the situation in the ad industry, with respect to, but there is also very, very nice growth margin according to our calculation in case of an oil production.

Yoash Zohar: But this is still, you know, as I mentioned, it's under evaluation and of course, if we decided to move forward into this direction, we won't jump, you know, with a significant investment, we will do it step by step to assure that we, our projection, our became reality.

Yoash Zohar: The margin with respect to seed is quite high and the main reason is because please remember that we invest in the last 10, 15 years, lots of money in achieving, you know, the quality of a variety, Kostera variety we have today.

Yoash Zohar: And in a way, this growth margin is compensated on the long-time investment, bring us where we are today.

Amit Noam: Moving to the last question, with regard to the yellow slounge, when should we expect a material revenue contribution?

Amit Noam: How should we think about the launch per for the product?

Amit Noam: So, I will ask Amit to take the lead on this question.

Amit Noam: Amit?

Ofer Haviv: Mr. Haviv, would you like to make your concluding statement? Yes, thank you all for your participating today. We look forward to our next meeting in the coming quarter, wishing you all a great day ahead. Thank you. This concludes Evigen's second quarter, 2024 Results Investor webinar. Thank you for your participation. You may go ahead and disconnect.

Amit Noam: Hi, thanks.

Amit Noam: Hi, Scott, thanks for the question.

Amit Noam: So, just a bit about where we are in the yellow slounge.

Amit Noam: So, we launched yellows in Canada this year. And we were able to line up a few significant retailers and it's an adoption market. So, we were able to have retailers start selling, start engaging farmers.

Amit Noam: Our plan is for this year, we did additional field trials for more significant crops.

Amit Noam: So, our focus is to move from wheat, German barley to soybean and canola.

Amit Noam: We see the biggest potential of yellows in soybean and canola.

Amit Noam: And if we receive the positive result, we expect by the end of this year.

Amit Noam: Next year, we will already be ready to launch these products for soybean and canola in North America.

Amit Noam: And the curve that we expect to see is next year will be the adoption of the early adopters in soybean canola and by 2026, we're supposed to see an material growth in fields for yellow.

Amit Noam: Thank you, Amit.

Stephen Goldman: The next question from Stephen Goldman, assuming the $8.4 million in cast receipts are received by Q4 by Castera, what do you expect Evigen's cash position will be by the end of 2024?

Yaron Eldad: Hi Stephen, this is the Yaron.

Yaron Eldad: Thanks for the question.

Yaron Eldad: Assuming the $8.4 million of cast receipts are received by the end of the year, we expect our cash position to be somewhere around $18 to $19 million.

Yaron Eldad: I assume that not all the cash will be received by the end of the year.

Yaron Eldad: So the cash position plus receivables from the Castera sales together will be somewhere around $18 to $19 million by the end of the year.

Operator: There are no further questions at this time.

Ofer Haviv: Mr. Haviv, would you like to make your concluding statement?

Ofer Haviv: Yes, thank you all for your participating today.

Ofer Haviv: We look forward to our next meeting in the coming quarter, wishing you all a great day ahead.

Operator: Thank you.

Operator: This concludes Evigen's second quarter, 2024 Results Investor webinar.

Operator: Thank you for your participation.

Operator: You may go ahead and disconnect.

Q2 2024 Evogene Ltd Earnings Call

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