Q3 2024 Evogene Ltd Earnings Call
[inaudible]
Yaron Eldad, Yoash Zohar, Unknown Executive
Speaker Change: Ladies and gentlemen, thank you for standing by. The conference will begin shortly.
Both in for 2024, such statements are based on current mutations and that's.
Predictions and assumptions describe opinions about future events involve certain risks and uncertainties, which are hard to predict and are not guarantees of future performance readers are cautioned that certain important factors may affect the companys 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 of the current war between Israel.
Matson Hizballah 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 in <unk> annual report on form 20-F, and in other information Epogen files, and furnishes with Israel Securities Authority, and the U S Securities and <unk>.
Change 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 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 that information contained herein does not constitute a prospectus or other offering document nor does it constitute or form part of any invitation to offer to sell or any solicitation of any invitation.
<unk> or offer to purchase or subscribe for any securities of epogen or the company, nor shall any information or any part of it or the fact of its distribution from the basis of or be relied on in connection with any connection contract commitment or relating there too.
Or to the securities of Epogen or the company with US on the line will be yeah, Ronald <unk> CFO of Epogen, and Ofer Levy, President and CEO of Epogen.
Now I will turn the call over to Ofer Hubby. Mr. Avi. Please go ahead.
Good day, everyone on today's call I will begin with a review of the financial and business highlights for the first quarter, followed by an overview of <unk>.
I will then conclude with recent achievements by our subsidiaries since the last analyst call.
After my remarks, Youre wondering Doug.
CFO, we provided Vanessa is the update on Q3 activities we.
We will then open.
If you in a position.
Let us begin with the Vanessa and business highlights.
In the first nine months of <unk>.
2024, total revenue of approximately $6 9 million.
<unk> to approximately $5 1 million in the first nine months of rent in 'twenty three.
In Q3 2024.
<unk> reached approximately $1 8 million.
Breadth of approximately $3 $8 million in Q3, 'twenty two 'twenty three.
The revenues in Q3 2024 are mainly based on a thorough seeds themselves.
The revenues in Q3 2023 included a license fee payment of $2 $5 million received by <unk>.
For the full year 2024, he was and anticipate continued revenue growth compared to the previous year, mainly due to constrained supply of existing seed orders.
G&A expenses in Q3, 2020 BOE included expenses of the <unk>.
Proximately, one $4 million, resulting from <unk> fund, raising and an allowance for doubtful debt from one of Castilla field suppliers.
Speaker Change: The remaining G&A expenses in Q3, 'twenty 'twenty four amounted to approximately $1 5 million.
Speaker Change: Unchanged compared to Q3 2023.
Speaker Change: In the first nine months of 2024.
Speaker Change: Operating loss was approximately $17 million, which included the G&A expenses of approximately.
Speaker Change: $1 5 million dollar due to Epogen fund raising and allowance for doubtful debt mentioned above.
Speaker Change: Other expenses of approximately zero point $5 million.
Speaker Change: Compared to approximately $18 9 million in the first nine months of 2023.
Speaker Change: Yeah.
In the first nine months of 2020 for.
Speaker Change: Financing expenses net were approximately 0.3 8 million.
Speaker Change: Compared to financing financing income of $2 $3 million in the first nine months of 2023.
Speaker Change: The financing expenses in the first nine months of 'twenty 'twenty four net.
Speaker Change: Included 0.8 $8 million.
Speaker Change: Especially as it related to accounting treatment of warrants issued as part of evidence found rabies.
Speaker Change: Projected cash usage for 'twenty 'twenty, four without any kind of a big value.
Speaker Change: Approximately $8 million to $10 million compared to $5 million in 2023.
Speaker Change: In August 2024, it wasn't completed the fundraising totaling.
Speaker Change: $5 5 million.
Speaker Change: And gross proceeds including ordinary shares into shares of Orange.
Speaker Change: The company has taken measures to strengthen its cash position by reducing its expenses incurred.
Speaker Change: Including a reduction of 16% in its head count.
Speaker Change: And you are exploring additional business opportunities to inject spun into the company and its subsidiaries.
Now I would like to highlight the main achievements made by emergent groups this quarter and up to date.
Starting with civil Jim.
Speaker Change: In October Epogen announced a unique collaboration with Google cloud to pioneer a generative AI Foundation model for the novel for novel small molecule design.
This collaboration aim to positioning campus AI Tech Andrea in the forefront of generating and optimistic optimizing novel small molecule structure with specific desired broker fees.
Speaker Change: I will elaborate on the calibration later in the presentation.
In addition, with respect to collaborations for product development with external parties. We received a grant approval for module Israeli interventional authorities for the second year in the collaborations with.
Speaker Change: Water shade, and Banco Union University to improving gross Jason trade using CRISPR technology.
Speaker Change: <unk> is embedded in our generator AI engine.
Speaker Change: Now, let's move to Coursera.
Speaker Change: The third quarter.
Speaker Change: Mark a significant milestone focused thereof.