Q2 2026 Biotalys NV Earnings Call
Speaker #1: After the speakers' presentation, there will be a Q&A session. To ask a question during the session, please press *11 on your telephone. You will then hear an automated message advising your hand is raised.
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Speaker #1: Please note that today's conference is being recorded. I would now like to hand the conference over to your speaker, Toon Mashud. Please go ahead.
Speaker #2: Thank you very much, Razia, and welcome, ladies and gentlemen, to the Biotalys webcast, following our press release detailing our results for the first half of 2026, which was issued earlier this morning.
Toon Musschoot: Thank you very much, Razia, and welcome, ladies and gentlemen, to the Biotalys webcast following our press release detailing our results for the H1 of 2026, which was issued earlier this morning. I am joined today by our CEO, Carlo Boutton, and CFO, Luc Van fraeyenhoven. At the end of our presentation, we will be happy to take your questions. You can ask them both through the webcast tool via the chat function and the conference call. Let me remind you of our disclaimer on slide 2, which is a standard part of our deck and which you can also consult in the tool of this webcast. Everything we say today is covered by these legal provisions. As you may have seen in today's announcement, Carlo Boutton has been appointed CEO on a permanent basis following his interim appointment in March of this year. Please join me in congratulating Carlo.
Toon Musschoot: Thank you very much, Razia, and welcome, ladies and gentlemen, to the Biotalys webcast following our press release detailing our results for the H1 of 2026, which was issued earlier this morning. I am joined today by our Chief Executive Officer, Carlo Boutton, and Chief Financial Officer, Luc Van fraeyenhoven. At the end of our presentation, we will be happy to take your questions. You can ask them both through the webcast tool via the chat function and the conference call. Let me remind you of our disclaimer on slide two, which is a standard part of our deck and which you can also consult in the tool of this webcast. Everything we say today is covered by these legal provisions. As you may have seen in today's announcement, Carlo Boutton has been appointed Chief Executive Officer on a permanent basis following his interim appointment in March of this year. Please join me in congratulating Carlo.
Speaker #2: I'm joined today by our CEO, Carlo Bouton, and CFO, Luc Van Vrijenhoven. At the end of our presentation, we will be happy to take your questions.
Speaker #2: You can ask them both through the webcast tool via the chat function and the conference call. Let me remind you of our disclaimer on slide 2, which is a standard part of our deck and which you can also consult in the tool of this webcast.
Speaker #2: Everything we say today is covered by these legal provisions. As you may have seen in today's announcement, Carlo Bouton has been appointed CEO on a permanent basis, following his interim appointment in March of this year.
Speaker #2: So, please join me in congratulating Carlo and Carlo. On behalf of the entire Biotalys team, we are very pleased that you will continue to lead the company and help drive the execution of our strategy.
Toon Musschoot: Carlo, on behalf of the entire Biotalys team, we are very pleased that you will continue to lead the company and help driving the execution of our strategy. With this, Carlo, I leave the floor to you.
Toon Musschoot: Carlo, on behalf of the entire Biotalys team, we are very pleased that you will continue to lead the company and help driving the execution of our strategy. With this, Carlo, I leave the floor to you.
Speaker #2: And with this, Carlo, I leave the floor to you.
Speaker #3: Thank you, Toon, and welcome to everyone joining us on the call today. We will review our business highlights and financial results for the first half of 2026.
Carlo Boutton: Thank you, Toon, and welcome to everyone joining us on the call today. We will review our business highlights and financial results for the H1 of 2026. We will discuss the progress achieved over the recent months and provide an update on our priorities and outlook. Before we begin, I would like to sincerely thank the board of Biotalys for their confidence in appointing me as CEO of Biotalys. I am excited to take up the role because I am still convinced about the opportunities ahead, and I am committed to execute our strategy, to advance our mission, and to create long-term value for all stakeholders involved, including, of course, our investors. The H1 of 2026 has been a very important period of focus and execution for us as Biotalys. Following our strategic refocus announced earlier this year, we have concentrated our resources on our most valuable assets.
Carlo Boutton: Thank you, Toon, and welcome to everyone joining us on the call today. We will review our business highlights and financial results for the H1 of 2026. We will discuss the progress achieved over the recent months and provide an update on our priorities and outlook. Before we begin, I would like to sincerely thank the board of Biotalys for their confidence in appointing me as Chief Executive Officer of Biotalys. I am excited to take up the role because I am still convinced about the opportunities ahead, and I am committed to execute our strategy, to advance our mission, and to create long-term value for all stakeholders involved, including, of course, our investors. The H1 of 2026 has been a very important period of focus and execution for us as Biotalys. Following our strategic refocus announced earlier this year, we have concentrated our resources on our most valuable assets.
Speaker #3: We will discuss the progress achieved over the recent months and provide an update on our priorities and outlook. But before we begin, I would like to sincerely thank the Board of Biotalys for their confidence in appointing me as CEO of Biotalys.
Speaker #3: I am excited to take up the role because I am still convinced about the opportunities ahead, and I'm committed to executing our strategy to advance our mission and to create long-term value for all stakeholders involved—including, of course, our investors.
Speaker #3: The first half of 2026 has been a very important period of focus and execution for us at Biotalys. Following our strategic refocus announced earlier this year, we have concentrated our resources on our most valuable assets.
Carlo Boutton: We streamlined our organization, strengthened our financial position, and continue to advance the regulatory and development milestones that are necessary to bring our innovative protein-based biocontrol products to the market. Our objectives are clear: to transform Biotalys into a commercial stage company by bringing novel, effective, and sustainable crop protection solutions to growers, and we will do that by starting in key markets. Let me begin with our product pipeline. That, of course, starts with Evoca and Evoca NG. Our highest priority remains the advancement of Evoca and its commercial success of Evoca NG, which targets high-value fruit and vegetable crops affected by Botrytis and Powdery Mildew.
Carlo Boutton: We streamlined our organization, strengthened our financial position, and continue to advance the regulatory and development milestones that are necessary to bring our innovative protein-based biocontrol products to the market. Our objectives are clear: to transform Biotalys into a commercial stage company by bringing novel, effective, and sustainable crop protection solutions to growers, and we will do that by starting in key markets. Let me begin with our product pipeline. That, of course, starts with Evoca and Evoca NG. Our highest priority remains the advancement of Evoca and its commercial success of Evoca NG, which targets high-value fruit and vegetable crops affected by Botrytis and Powdery Mildew.
Speaker #3: We streamlined our organization, strengthened our financial position, and continued to advance the regulatory and development milestones that are necessary to bring our innovative protein-based biocontrol products to market.
Speaker #3: So our objectives are clear: to transform Biotalys into a commercial-stage company by bringing novel, effective, and sustainable cross-protection solutions to growers. We'll do that by starting in key markets.
Speaker #3: So let me begin with our product pipeline. And that, of course, starts with Evoka and Evoka-NG. Our highest priority remains the advancement of Evoka, and its commercial successor, Evoka-NG, which target high-value fruit and vegetable crops affected by botrytis and powdery mildew.
Speaker #3: Following the EPA approval of Evoka at the end of 2025, we achieved another important milestone in April this year with the first U.S. registration in Florida, which marks the first state-level approval of an aggregate-based biocontrol product in the United States.
Carlo Boutton: Following the EPA approval of Evoca at the end of 2025, we achieved another important milestone in April this year with the first US registration in Florida, which is marking the first state-level approval of an Agrobody-based biocontrol product in the United States. Further in the US, we have also continued to make meaningful progress in California, which remains a key strategic market given its importance to high-value crops. At the end of June, California's Department of Pesticide Regulation initiated the public commenting phase following a positive human health assessment, and this consultation phase has now been closed, and the next steps are underway. We expect state registration in California later this year. Switching to Europe, we also made significant advancements in our regulatory process in Europe.
Carlo Boutton: Following the EPA approval of Evoca at the end of 2025, we achieved another important milestone in April this year with the first US registration in Florida, which is marking the first state-level approval of an Agrobody-based biocontrol product in the United States. Further in the US, we have also continued to make meaningful progress in California, which remains a key strategic market given its importance to high-value crops. At the end of June, California's Department of Pesticide Regulation initiated the public commenting phase following a positive human health assessment, and this consultation phase has now been closed, and the next steps are underway. We expect state registration in California later this year. Switching to Europe, we also made significant advancements in our regulatory process in Europe.
Speaker #3: Further, in the U.S., we have also continued to make meaningful progress in California, which remains a key strategic market given its importance to high-value crops.
Speaker #3: At the end of June, California's Department of Pesticide Regulation initiated the public commenting phase following a positive human health assessment. This consultation phase has now been closed, and the next steps are underway.
Speaker #3: Until we expect state registration in California later this year. Switching to Europe, we also made significant advancements in our regulatory policies in Europe. EFSA initiated its public consultation process in April, and following the completion of that consultation and the end of responses to the comments received, those responses are currently being reviewed by EFSA and the Dutch regulatory authority, CTGB.
Carlo Boutton: EFSA initiated its public consultation process in April, and following the completion of that consultation at the end of June, we submitted comprehensive responses to the comments received, and those responses are currently reviewed by EFSA and the Dutch regulatory authority, CTGB. Biotalys now projects a final regulatory decision in the course of 2027 for Evoca. Importantly, all of this work is creating a strong regulatory foundation for Evoca NG, our next generation product based on the same active ingredient as Evoca. Leveraging this foundation, it should significantly reduce the time required for future regulatory approvals compared to completely new active substance. Evoca NG remains the product with which we intend to enter the market commercially, targeting large and attractive fungicide segments for control of Botrytis and Powdery Mildew in fruit and vegetable crops.
Carlo Boutton: EFSA initiated its public consultation process in April, and following the completion of that consultation at the end of June, we submitted comprehensive responses to the comments received, and those responses are currently reviewed by EFSA and the Dutch regulatory authority, CTGB. Biotalys now projects a final regulatory decision in the course of 2027 for Evoca. Importantly, all of this work is creating a strong regulatory foundation for Evoca NG, our next generation product based on the same active ingredient as Evoca. Leveraging this foundation, it should significantly reduce the time required for future regulatory approvals compared to completely new active substance. Evoca NG remains the product with which we intend to enter the market commercially, targeting large and attractive fungicide segments for control of Botrytis and Powdery Mildew in fruit and vegetable crops.
Speaker #3: Biotalys now projects a final regulatory decision in the course of 2027 for Evoka. Importantly, all of this work is creating a strong regulatory foundation for Evoka-NG, our next-generation product based on the same active ingredients as Evoka.
Speaker #3: And leveling this foundation should significantly reduce the time required for future regulatory approvals compared to a completely new active substance. Evoka-NG remains the product with which we intend to enter the market commercially.
Speaker #3: Targeting large and attractive fungicide segments for control of Botrytis and powdery mildew in fruit and vegetable crops. We continue to target a U.S. launch in 2029 and a European launch in 2029 or 2030.
Carlo Boutton: We continue to target a US launch in 2029 and European launch in 2029 or 2030, addressing a combined market opportunity of more than $1 billion. A key and very important next step that we took for Evoca NG is that we started the five-batch production campaign in early August, and we should not underestimate that. This is not only an important regulatory requirement to initiate our regulatory studies for Evoca NG, it also demonstrates consistency and stability in the manufacturing process. We currently expect results from this five-batch production by early November of this year. Finally, I am pleased to share that Evoca NG has been nominated for the prestigious Bernard Blum Award by the International Biocontrol Manufacturers Association. The final award will be granted at the annual ABIM conference taking place in Basel, in Switzerland, in the second half of October.
Carlo Boutton: We continue to target a US launch in 2029 and European launch in 2029 or 2030, addressing a combined market opportunity of more than $1 billion. A key and very important next step that we took for Evoca NG is that we started the five-batch production campaign in early August, and we should not underestimate that. This is not only an important regulatory requirement to initiate our regulatory studies for Evoca NG, it also demonstrates consistency and stability in the manufacturing process. We currently expect results from this five-batch production by early November of this year. Finally, I am pleased to share that Evoca NG has been nominated for the prestigious Bernard Blum Award by the International Biocontrol Manufacturers Association. The final award will be granted at the annual ABIM conference taking place in Basel, in Switzerland, in the second half of October.
Speaker #3: Addressing a combined market opportunity of more than $1 billion. A key and very important next step that we took for Evoka-NG is that we started the five-batch production campaign in early August.
Speaker #3: And we should not underestimate that. This is not only an important regulatory requirement to initiate a regulatory service for Evoka-NG; it also demonstrates consistency and stability in the manufacturing process. We currently expect results from this five-batch production by early November of this year.
Speaker #3: Finally, I'm pleased to share that Evoka-NG has been nominated for the prestigious Bernard Blum Award by the Association of Biocontrol Industry Manufacturers. The final award will be granted at the annual ABIM Conference, taking place in Basel, Switzerland, in the second half of October.
Carlo Boutton: Switching to BioFun-6 and having a highlight on the BioFun-6 progress, which is our major second priority. Our second biofungicide program is targeting Botrytis and Powdery Mildew in fruit and vegetables. We are very much encouraged by the data generated so far in field trials. During the fall of 2025 and early 2026 growing seasons, our second lead candidate from our BioFun-6 program was evaluated in more than 40 field trials across multiple geographies and crops, including grapes, strawberries, tomatoes, and cucumbers. The results demonstrated consistent and strong disease control. Across the many trial settings, the candidate outperformed existing biological alternatives available on the market today. In spray rotation programs, where the biological product replaces synthetic chemistry, BioFun-6 delivered a disease suppression comparable to conventional solutions.
Carlo Boutton: Switching to BioFun-6 and having a highlight on the BioFun-6 progress, which is our major second priority. Our second biofungicide program is targeting Botrytis and Powdery Mildew in fruit and vegetables. We are very much encouraged by the data generated so far in field trials. During the fall of 2025 and early 2026 growing seasons, our second lead candidate from our BioFun-6 program was evaluated in more than 40 field trials across multiple geographies and crops, including grapes, strawberries, tomatoes, and cucumbers. The results demonstrated consistent and strong disease control. Across the many trial settings, the candidate outperformed existing biological alternatives available on the market today. In spray rotation programs, where the biological product replaces synthetic chemistry, BioFun-6 delivered a disease suppression comparable to conventional solutions.
Speaker #3: Switching to Biotalys 6 and highlighting the progress on Biotalys 6, which is our second major priority. This is our second biofungicide program targeting Botrytis and powdery mildew in fruits and vegetables.
Speaker #3: We are very much encouraged by the data generated so far in field trials. During the fall of 2025 and early 2026 growing seasons, our second lead candidate from our Biotalys 6 program was evaluated in more than 40 field trials across multiple geographies and crops, including grapes, strawberries, tomatoes, and cucumbers. The results demonstrated consistent and strong disease control.
Speaker #3: Across the many trial settings, the candidate outperformed existing biological alternatives available on the market today, and inspired rotation programs where the biological product replaces synthetic chemistry.
Speaker #3: Biotalys 6 delivered disease suppression comparable to conventional solutions. In addition to our internal trials, we also received the latest results from independent fungicide evaluations conducted by the University of Florida, and while we are waiting for the official publication of that report, we can already share today that, among the relevant programs evaluated, a spray rotation program that included our Biotalys 6 lead candidate in a rotation with the synthetic fungicide achieved the strongest overall performance in controlling botrytis on strawberries.
Carlo Boutton: In addition to our internal trials, we also received the latest results from independent fungicide evaluations conducted by the University of Florida. While we are waiting the official publication of that report, we can today already share that among the relevant programs evaluated, a spray rotation program that included our BioFun-6 lead candidate in a rotation with a standard synthetic fungicide, achieved the strongest overall performance in controlling Botrytis on strawberries. Both these internal commissions and academic trials are very encouraging because they support one of the central promises of our Agrobody platform, which is delivering biological crop protection products with efficacy levels that growers can depend upon in a real-world farming condition. For BioFun-6, we are now continuing additional field trials focused on evaluating performance at lower dose rates.
Carlo Boutton: In addition to our internal trials, we also received the latest results from independent fungicide evaluations conducted by the University of Florida. While we are waiting the official publication of that report, we can today already share that among the relevant programs evaluated, a spray rotation program that included our BioFun-6 lead candidate in a rotation with a standard synthetic fungicide, achieved the strongest overall performance in controlling Botrytis on strawberries. Both these internal commissions and academic trials are very encouraging because they support one of the central promises of our Agrobody platform, which is delivering biological crop protection products with efficacy levels that growers can depend upon in a real-world farming condition. For BioFun-6, we are now continuing additional field trials focused on evaluating performance at lower dose rates.
Speaker #3: And both these internally commissioned and academic trials are very encouraging because they support one of the central promises of our AGROBODY platform, which is delivering biological crop protection products with efficacy levels that growers can be pumped about in real-world farming conditions.
Speaker #3: For Biotalys 6, we are now continuing additional field trials focused on evaluating performance at lower dose rates. These studies are intended to further optimize the product positioning, the product profile, and the product economics, and we expect additional results of these trials around the year-end.
Carlo Boutton: These studies are intended to further optimize the product positioning, the product profile, and the product economics, and we expect additional results of these trials around the year-end. In terms of manufacturing, another important development during H1 was a strategic partnership with 21st.BIO, because commercial success requires not only effective products, it also requires scalable and cost-competitive manufacturing. The partnership with 21st.BIO gives us access to advanced precision fermentation technology that can support both of these manufacturing objectives. Together with 21st.BIO, we are continuing to optimize our production process and manufacturing plans to ensure commercial competitiveness as we move towards market launch. I am very pleased to say that the first tangible result of this collaboration is our five-batch production of Evoca NG, which started a couple of weeks ago.
Carlo Boutton: These studies are intended to further optimize the product positioning, the product profile, and the product economics, and we expect additional results of these trials around the year-end. In terms of manufacturing, another important development during H1 was a strategic partnership with 21st.BIO, because commercial success requires not only effective products, it also requires scalable and cost-competitive manufacturing. The partnership with 21st.BIO gives us access to advanced precision fermentation technology that can support both of these manufacturing objectives. Together with 21st.BIO, we are continuing to optimize our production process and manufacturing plans to ensure commercial competitiveness as we move towards market launch. I am very pleased to say that the first tangible result of this collaboration is our five-batch production of Evoca NG, which started a couple of weeks ago.
Speaker #3: In terms of manufacturing, another important development during the first half was a strategic partnership with 21st Bio, because commercial success requires not only effective products—it also requires scalable and cost-competitive manufacturing.
Speaker #3: And the partnership with 21st Bio gives us access to advanced precision fermentation technology that can support both of these manufacturing objectives. So, together with 21st Bio, we are continuing to optimize our production process and manufacturing plans to ensure commercial competitiveness as we move toward market launch.
Speaker #3: And I'm very pleased to say that the first tangible result of this collaboration is our five-batch production of Evoca NG, which started a couple of weeks ago.
Speaker #3: At the same time, we are also engaging with potential manufacturing and distribution partners globally as part of our commercialization strategy. If you’re going to move beyond Evoca-NG and Biotalys 6, and the rest of the portfolio, our Biotalys 2 collaboration with Syngenta achieved a research milestone. We are currently evaluating the outcome of the research phase together with our partners and expect to provide an update about this collaboration during the second half of 2026.
Carlo Boutton: At the same time, we are also engaging with potential manufacturing and distribution partners globally as part of our commercialization strategy. If we then move beyond Evoca NG and BioFun-6 and the rest of the portfolio, our BioIns-2 collaboration with Syngenta achieved a research milestone, and we are currently evaluating the outcome of the research phase together with our partner and expect to provide an update about this collaboration during H2 2026. Our BioFun-7 collaboration with the Bill & Melinda Gates Foundation remains ongoing to the end of this year. Biotalys and the foundation will jointly assess if there is a sufficient basis to continue this collaboration beyond 2026. Finally, about our BioFun-4 and BioFun-8 programs, respectively against Oomycetes in potatoes and grapes, and BioFun-8 on Alternaria in fruit and vegetables. We remain open here for potential cooperation with third parties.
Carlo Boutton: At the same time, we are also engaging with potential manufacturing and distribution partners globally as part of our commercialization strategy. If we then move beyond Evoca NG and BioFun-6 and the rest of the portfolio, our BioIns-2 collaboration with Syngenta achieved a research milestone, and we are currently evaluating the outcome of the research phase together with our partner and expect to provide an update about this collaboration during H2 2026. Our BioFun-7 collaboration with the Bill & Melinda Gates Foundation remains ongoing to the end of this year. Biotalys and the foundation will jointly assess if there is a sufficient basis to continue this collaboration beyond 2026. Finally, about our BioFun-4 and BioFun-8 programs, respectively against Oomycetes in potatoes and grapes, and BioFun-8 on Alternaria in fruit and vegetables. We remain open here for potential cooperation with third parties.
Speaker #3: Our Biotalys 7 collaboration with the Gates Foundation remains ongoing. Until the end of this year, Biotalys and the Foundation will jointly assess if there is sufficient basis to continue this collaboration beyond 2026.
Speaker #3: And finally, about our Biotalys 4 and Biotalys 8 programs, respectively against OMI seeds and in potatoes and grapes, and Biotalys 8 on alternating fruits and vegetables, we remain open here for potential collaboration with third parties.
Speaker #3: And in this context, we can mention that a third party is currently testing an aggregate bioactive against OMI seeds in Belgium and the Netherlands.
Carlo Boutton: In this context, we can mention that a third party is currently testing an Agrobody bioactive against Oomycetes in Belgium and the Netherlands. Beyond the individual programs and more shifting towards the Agrobody platform, a platform for us remains crucial in our strategy because it enables us to generate highly specific protein-based bioactives against important diseases, and it provides a basis for building further on a differentiated pipeline of sustainable crop protection products. Of course, we are also continuously building and strengthening our intellectual property and have now also received a patent for Evoca in Japan, building on our previous patents in key regions like Europe, US, Brazil, and China. Also, the trademarks Evoca and Agrobody are now registered as trademarks, protecting these as valuable assets for the company. With that, I will now hand over the call to Luc to discuss our financial performance. Luc?
Carlo Boutton: In this context, we can mention that a third party is currently testing an Agrobody bioactive against Oomycetes in Belgium and the Netherlands. Beyond the individual programs and more shifting towards the Agrobody platform, a platform for us remains crucial in our strategy because it enables us to generate highly specific protein-based bioactives against important diseases, and it provides a basis for building further on a differentiated pipeline of sustainable crop protection products. Of course, we are also continuously building and strengthening our intellectual property and have now also received a patent for Evoca in Japan, building on our previous patents in key regions like Europe, US, Brazil, and China. Also, the trademarks Evoca and Agrobody are now registered as trademarks, protecting these as valuable assets for the company. With that, I will now hand over the call to Luc to discuss our financial performance. Luc?
Speaker #3: And then, beyond the individual programs and more shifting towards the aggregate platform, a platform for us remains crucial in our strategy because it enables us to generate highly specific protein-based bioactives against important diseases, and it provides a basis for building further on a differentiated pipeline of sustainable crop protection products.
Speaker #3: Of course, we are also continuously building and strengthening our intellectual property and have now also received a patent for Evoka in Japan, building on our previous patents in key regions like Europe, the US, Brazil, and China.
Speaker #3: Also, the trademarks Evoca and AgroBody are now registered, protecting these as valuable assets for the company. With that, I will now hand over the call to Luke to discuss our financial performance.
Speaker #3: Luke, thank you. Carlo, let me briefly review the financial results for the first half of 2026. Before going to the figures, I would like to emphasize that we continue to manage our financial position with discipline.
Luc Van fraeyenhoven: Thank you, Carlo. Let me briefly review the financial results for H1 2026. Before going through the figures, I would like to emphasize that we continue to manage our financial position with discipline. We are closely monitoring our cash position and expenses, and the cost-saving measures implemented earlier this year are progressing in line with our plans. Other operating income amounted to EUR 1.6 million, mainly reflecting R&D tax incentives and grant income supporting our innovation activities. Research and development expenses were EUR 6.2 million, compared to EUR 6.5 million in H1 2025. This reduction reflects lower operating expenses following the organizational changes implemented earlier this year, partly offset by continued investment in our key pipeline programs. General and administrative expenses decreased to EUR 3.7 million from EUR 3 million last year, again reflecting the impact of our cost-saving initiatives and streamlined organization.
Luc Van fraeyenhoven: Thank you, Carlo. Let me briefly review the financial results for H1 2026. Before going through the figures, I would like to emphasize that we continue to manage our financial position with discipline. We are closely monitoring our cash position and expenses, and the cost-saving measures implemented earlier this year are progressing in line with our plans. Other operating income amounted to EUR 1.6 million, mainly reflecting R&D tax incentives and grant income supporting our innovation activities. Research and development expenses were EUR 6.2 million, compared to EUR 6.5 million in H1 2025. This reduction reflects lower operating expenses following the organizational changes implemented earlier this year, partly offset by continued investment in our key pipeline programs. General and administrative expenses decreased to EUR 3.7 million from EUR 3 million last year, again reflecting the impact of our cost-saving initiatives and streamlined organization.
Speaker #3: We are closely monitoring our cash position and expenses, and the cost-saving measures implemented earlier this year are progressing in line with our plans. Other operating income amounted to €1.6 million, mainly reflecting our ND tax incentive and grant income supporting our innovation activities.
Speaker #3: Research and development expenses were $6.2 million, compared to $6.5 million in the first half of 2025. This reduction reflects lower operating expenses following the organizational changes implemented earlier this year.
Speaker #3: Partly offset by continued investment in our key pipeline programs. General and administrative expenses decreased to €2.7 million from €3 million last year, again reflecting the impact of our cost-saving initiatives and streamlined organization.
Speaker #3: We also recorded €1.9 million in restructuring costs, related primarily to termination benefits associated with the strategic refocus. As a result, normalized net loss—representing the loss for the first half of 2026 adjusted for restructuring costs—improved by €0.9 million compared with the same period last year, and amounted to €7.2 million.
Luc Van fraeyenhoven: We also recorded EUR 1.9 million in restructuring costs, related primarily to termination benefits associated with the strategic refocus. As a result, normalized net loss, representing the loss for H1 2026, adjusted for restructuring costs, improved by EUR 0.9 million compared with the same period last year and amounted to EUR 7.2 million. The loss for the period was EUR 9.1 million, compared to EUR 8.1 million for the same period last year. Importantly, during May, we successfully completed a EUR 12.05 million private placement supported by our key investing shareholders. The financing strengthens our balance sheet and demonstrates the continued support for our investor base for our strategy and pipeline. At the end of June 2026, cash and cash equivalents amounted to EUR 11.9 million. Based on our current operating plans, we project our financial runway to extend through the end of Q1 2027.
Luc Van fraeyenhoven: We also recorded EUR 1.9 million in restructuring costs, related primarily to termination benefits associated with the strategic refocus. As a result, normalized net loss, representing the loss for H1 2026, adjusted for restructuring costs, improved by EUR 0.9 million compared with the same period last year and amounted to EUR 7.2 million. The loss for the period was EUR 9.1 million, compared to EUR 8.1 million for the same period last year. Importantly, during May, we successfully completed a EUR 12.05 million private placement supported by our key investing shareholders. The financing strengthens our balance sheet and demonstrates the continued support for our investor base for our strategy and pipeline. At the end of June 2026, cash and cash equivalents amounted to EUR 11.9 million. Based on our current operating plans, we project our financial runway to extend through the end of Q1 2027.
Speaker #3: So the loss for the period was €9.1 million compared to €8.1 million for the same period last year. Importantly, during May, we successfully completed a €12.05 million private placement supported by our key investor shareholders.
Speaker #3: The financing strengthens our balance sheet and demonstrates the continued support of our investor base for our strategy and pipeline. At the end of June 2026, cash and cash equivalents amounted to €11.9 million.
Speaker #3: Based on our current operating plans, we project our financial runway to extend through the end of the first quarter of 2027. We are considering various options, both dilutive and non-dilutive, to continue to fund the company and allow it to become commercially active.
Luc Van fraeyenhoven: We are considering various options, both dilutive and non-dilutive, to continue to fund the company to allow to become commercially active. The cost reduction measures implemented this year will continue to flow through the organization, and we expect these actions to contribute to a lower cash burn profile going forward, starting this year already and in full effect as from 2027 onwards. Overall, we remain on track with our current operating plan while continuing to carefully monitor our financial position and manage expenses with discipline. With that, I hand over the call back to Carlo for closing remarks.
Luc Van fraeyenhoven: We are considering various options, both dilutive and non-dilutive, to continue to fund the company to allow to become commercially active. The cost reduction measures implemented this year will continue to flow through the organization, and we expect these actions to contribute to a lower cash burn profile going forward, starting this year already and in full effect as from 2027 onwards. Overall, we remain on track with our current operating plan while continuing to carefully monitor our financial position and manage expenses with discipline. With that, I hand over the call back to Carlo for closing remarks.
Speaker #3: The cost reduction measures implemented this year will continue to flow through the organization, and we expect these actions to contribute to a lower cash burn profile going forward, starting this year already and coming into full effect as from 2027 onward.
Speaker #3: Overall, we remain on track with our current operating plan, while continuing to carefully monitor our financial position and manage expenses with discipline. With that, I hand over the call back to Carlo for closing remarks.
Speaker #1: Thank you, Luke. To conclude, the first half of 2026 has been all about creating focus, building momentum, and advancing our key milestones that matter most for the future of Biotalys.
Carlo Boutton: Thank you, Luc. To conclude, the H1 2026 has been all about creating focus, building momentum, and advancing our key milestones that matter most for the future of Biotalys. We have strengthened the company through a strategic refocus. We secured additional financing. We advanced our regulatory process for Evoca in both the US and Europe, initiated critical regulatory activities for Evoca NG, demonstrated encouraging field performance for BioFun-6, and made a lot of progress in our manufacturing strategy through the partnership with 21st.BIO. We are on track. Before we start with questions, I would like to sincerely thank all the Biotalys colleagues for their commitment and resilience, because this has not been an easy period, particularly following the restructuring earlier this year.
Carlo Boutton: Thank you, Luc. To conclude, the H1 2026 has been all about creating focus, building momentum, and advancing our key milestones that matter most for the future of Biotalys. We have strengthened the company through a strategic refocus. We secured additional financing. We advanced our regulatory process for Evoca in both the US and Europe, initiated critical regulatory activities for Evoca NG, demonstrated encouraging field performance for BioFun-6, and made a lot of progress in our manufacturing strategy through the partnership with 21st.BIO. We are on track. Before we start with questions, I would like to sincerely thank all the Biotalys colleagues for their commitment and resilience, because this has not been an easy period, particularly following the restructuring earlier this year.
Speaker #1: We have strengthened the company through a strategic refocus; we secured additional financing, we advanced the regulatory process for Evoka in both the US and Europe, initiated critical regulatory activities for Evoka NG, demonstrated encouraging field performance for Biotalys 6, and made significant progress in our manufacturing strategy through the partnership with 21st Bio.
Speaker #1: So, we are on track. Before we start with questions, I would like to sincerely thank all the Biotalys colleagues for their commitment and resilience.
Speaker #1: This has not been an easy period, particularly following the restructuring earlier this year. However, the team and all colleagues remain focused on our mission, and they continue to drive the progress needed to bring our innovative crop protection solutions closer to growers.
Carlo Boutton: The team, however, and all colleagues remain focused on our mission, and they continue to drive the progress that is needed to bring our innovative crop protection solutions closer to the growers. Looking ahead, our priorities remain unchanged. We will continue to advance Evoca NG and BioFun-6. We will continue pursuing key regulatory milestones. We will further optimize manufacturing and commercial readiness, and we will continue operating with disciplined capital allocation. We believe that the fundamental opportunity for effective, safe, and sustainable protein-based crop protection remains highly compelling, and we are committed to realizing the full potential of our Agrobody platform for growers, for partners, and for shareholders. Thank you all again for joining and for your interest in Biotalys. I will now turn the call back over to Toon to begin our Q&A session.
Carlo Boutton: The team, however, and all colleagues remain focused on our mission, and they continue to drive the progress that is needed to bring our innovative crop protection solutions closer to the growers. Looking ahead, our priorities remain unchanged. We will continue to advance Evoca NG and BioFun-6. We will continue pursuing key regulatory milestones. We will further optimize manufacturing and commercial readiness, and we will continue operating with disciplined capital allocation. We believe that the fundamental opportunity for effective, safe, and sustainable protein-based crop protection remains highly compelling, and we are committed to realizing the full potential of our Agrobody platform for growers, for partners, and for shareholders. Thank you all again for joining and for your interest in Biotalys. I will now turn the call back over to Toon to begin our Q&A session.
Speaker #1: Looking ahead, our priorities remain unchanged. We will continue to advance Evoka NG and Biotalys 6. We will continue pursuing key regulatory milestones. We will further optimize manufacturing and commercial readiness, and we will continue operating with disciplined capital allocation.
Speaker #1: We believe that a fundamental opportunity for effective, safe, and sustainable protein-based crop protection remains highly compelling, and we are committed to realizing the full potential of our AgroBody platform—for growers, for partners, and for shareholders.
Speaker #1: So thank you all again for joining and for your interest in Biotalys. I will now turn the call back over to Tom to begin our Q&A session.
Speaker #2: Thank you, Carlo. And Luke. So Razia, we are now ready to take questions from the audience.
Toon Musschoot: Thank you, Carlo and Luc. Razia, we are now ready to take questions from the audience.
Toon Musschoot: Thank you, Carlo and Luc. Razia, we are now ready to take questions from the audience.
Speaker #3: Thank you. As a reminder, to ask a question on the phone, please press star 11 on your telephone and wait for your name to be announced.
Operator: Thank you. As a reminder to ask a question on the phone, please press star 1 1 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1 1 again. Once again, please press star 1 1 to ask a question on the phone, and to withdraw your question, please press star 1 1 again. If you wish to submit a question via the webcast, please type them in the question box and click submit. Thank you. We are now going to proceed with our first question. The question comes from the line of Guy Sips from KBC Securities. Please ask your question.
Operator: Thank you. As a reminder to ask a question on the phone, please press star 1 1 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1 1 again. Once again, please press star 1 1 to ask a question on the phone, and to withdraw your question, please press star 1 1 again. If you wish to submit a question via the webcast, please type them in the question box and click submit. Thank you. We are now going to proceed with our first question. The question comes from the line of Guy Sips from KBC Securities. Please ask your question.
Speaker #3: To withdraw your question, please press *11 again. Once again, please press *11 to ask a question on the phone, and to withdraw your question, please press *11 again.
Speaker #3: If you wish to submit a question via the webcast, please type it in the question box and click submit. Thank you. We will now proceed with our first question.
Speaker #3: And the questions come from the line of Guy Sips from KBC Securities. Please ask your question.
Guy Sips: Yes, thank you. I want to come back to the five-batch production of Evoca NG. The main question is, can you elaborate a little bit more on this? Especially, is this a linear process or is it yes or no? Or is the answer a potential yes, but answer? So what is the expected news flow on this one? The second question is on the general news flow. What news flow can we expect from now until, let's say, end Q1 2027? Thank you.
Guy Sips: Yes, thank you. I want to come back to the five-batch production of Evoca NG. The main question is, can you elaborate a little bit more on this? Especially, is this a linear process or is it yes or no? Or is the answer a potential yes, but answer? So what is the expected news flow on this one? The second question is on the general news flow. What news flow can we expect from now until, let's say, end Q1 2027? Thank you.
Speaker #2: Yes, thank you. I want to come back to the five-batch production of Evoca NG. The main question is: can you elaborate a little bit more on this, and especially, is this a binary process, or is it a yes or no?
Speaker #2: Or is the answer a potential yes-but answer? And so what is the expected use flow on this one? And the second question is on the general news flow.
Speaker #2: What news flow can we expect from now until, let's say, the end of Q1 2027? Thank you.
Carlo Boutton: Thank you, Guy, for the question. Thank you, Guy, for the question, because we should not underestimate the value of the start of this five-batch production. What it really means, and I try to be non-technical, is that we are finalizing the production process of Evoca NG. It means that we come to a production process which is robust, consistent, and to a production process that will reflect the final material. This is a necessary step to do regulatory trials, but also towards further commercialization. So it is not a binary process. It is a more complex process, but we are confident that the steps we have taken, it is a major hurdle, and it is a major de-risking factor that we took in the next step in commercial manufacturing. The second question, if I may, was on the further outlook of 2026.
Carlo Boutton: Thank you, Guy, for the question. Thank you, Guy, for the question, because we should not underestimate the value of the start of this five-batch production. What it really means, and I try to be non-technical, is that we are finalizing the production process of Evoca NG. It means that we come to a production process which is robust, consistent, and to a production process that will reflect the final material. This is a necessary step to do regulatory trials, but also towards further commercialization. So it is not a binary process. It is a more complex process, but we are confident that the steps we have taken, it is a major hurdle, and it is a major de-risking factor that we took in the next step in commercial manufacturing. The second question, if I may, was on the further outlook of 2026.
Speaker #1: So, thank you, Guy, for the question. And thank you, Lee, for the question, because we should not underestimate the value of the start of this five-batch production.
Speaker #1: What it really means, and I’ll try to be non-technical, is that we are finalizing the production process of Evoca NG. It means that we are coming to a production process that is robust, consistent, and will reflect the final material.
Speaker #1: And this is a necessary step to do regulatory trials, but also towards further commercialization. So it's not a binary process—it's a more complex process. But we are confident that the steps we are taking are a major hurdle, and it's a major de-risking factor that we took in the next step in commercial manufacturing.
Speaker #1: The second question, if I may, was on the further outlook of 2026. Important is, of course, that we first of all, for Evoka, get approval of Evoka in California.
Carlo Boutton: Important, of course, that we, first of all, for Evoca, approval of Evoca in California. Second, more news on the finalization of the five batches, which we expect around November. Then hopefully by the end of the year, also some other results of the BioFun-6 trials. I think that is the main key factors. Luc, Toon, if I forget something, let me know. BioFun-6. I think I mentioned BioFun-6, the result of BIFEM towards end of the year.
Carlo Boutton: Important, of course, that we, first of all, for Evoca, approval of Evoca in California. Second, more news on the finalization of the five batches, which we expect around November. Then hopefully by the end of the year, also some other results of the BioFun-6 trials. I think that is the main key factors. Luc, Toon, if I forget something, let me know. BioFun-6. I think I mentioned BioFun-6, the result of BIFEM towards end of the year.
Speaker #1: Second, more news on the finalization of the five batches, which we expect around November. And then, hopefully, by the end of the year, also some other results of the Biotalys 6 trials.
Speaker #1: I think that's the main key factors Luke told. If I forgot something, let me know. Biotalys 6—I think I mentioned Biotalys 6 results of wind trials at the end of the year.
Luc Van fraeyenhoven: Yeah.
Luc Van fraeyenhoven: Yeah.
Speaker #1: Five-batch production and Evoka in California.
Carlo Boutton: Five-batch production and-
Carlo Boutton: Five-batch production and-
Luc Van fraeyenhoven: Evoca
Luc Van fraeyenhoven: Evoca
Carlo Boutton: Evoca in California.
Carlo Boutton: Evoca in California.
Speaker #2: Guy, is that clear? Do you have any other questions?
Toon Musschoot: Guy, is that clear? Did you have any other questions?
Toon Musschoot: Guy, is that clear? Did you have any other questions?
Speaker #4: No, that was it. Thank you. Thank you from my side, and all the best.
Guy Sips: No, that was it. Thank you. Thank you from my side, and all the best.
Guy Sips: No, that was it. Thank you. Thank you from my side, and all the best.
Speaker #1: Thank you, Guy.
Toon Musschoot: Thank you, Guy.
Toon Musschoot: Thank you, Guy.
Speaker #2: Thank you.
Toon Musschoot: Thank you.
Toon Musschoot: Thank you.
Speaker #3: We are now going to proceed with our next question. The next questions come from the line of Christian Fites from Kettle Chevre. Please ask your question.
Operator: We are now going to proceed with our next question. The question comes from the line of Christian Feist from Kepler Cheuvreux. Please ask your question.
Operator: We are now going to proceed with our next question. The question comes from the line of Christian Feist from Kepler Cheuvreux. Please ask your question.
Speaker #5: Yes, thank you. Good afternoon, Carlo, Luke, Tone, and team. And Carlo, congratulations again on your now permanent CEO position. Two questions, if I may.
Christian Feist: Yes. Thank you. Good afternoon, Carlo, Luc, and Toon, and team. Carlo, congrats again on your now permanent CEO position. Two questions, if I may. First one is, would you expect any more restructuring expenses to come in H2 of this year or into 2027? Second question is just a quick check on BioIns-2. You mentioned in your release, this morning's release, that you and your partner, Syngenta, are, quote-unquote, "Currently evaluating their collaboration" in view of the outcome of the first research phase of BioIns-2. Is there something in terms of earlier results you could already share, or do we have to wait until you are prepared to say something in the course of H2 of this year? Thanks.
Christian Faitz: Yes. Thank you. Good afternoon, Carlo, Luc, and Toon, and team. Carlo, congrats again on your now permanent Chief Executive Officer position. Two questions, if I may. First one is, would you expect any more restructuring expenses to come in H2 of this year or into 2027? Second question is just a quick check on BioIns-2. You mentioned in your release, this morning's release, that you and your partner, Syngenta, are, quote-unquote, "Currently evaluating their collaboration" in view of the outcome of the first research phase of BioIns-2. Is there something in terms of earlier results you could already share, or do we have to wait until you are prepared to say something in the course of H2 of this year? Thanks.
Speaker #5: The first one is: Would you expect any more restructuring expenses to come in the second half of this year, or into 2027? And the second question is just a quick check on Bioins 2.
Speaker #5: You mentioned in your release—this morning's release—that you and your partner, Syngenta, are currently evaluating their collaboration. In view of the outcome of the first research phase of Bioins2, is there something, in terms of earlier results, you could already share? Or do we have to wait until you are prepared to say something in the course of the second half of this year?
Speaker #5: Thanks.
Speaker #1: Thank you, Christian, and thank you for the wishes—very much appreciated. On the restructuring expenses, Luke, I'll hand over to you.
Carlo Boutton: Thank you, Christian, and thank you on the wishes. Very much appreciated. On the restructuring expenses, Luc, I will hand over to you if that is okay.
Carlo Boutton: Thank you, Christian, and thank you on the wishes. Very much appreciated. On the restructuring expenses, Luc, I will hand over to you if that is okay.
Speaker #2: Yeah, so the question was, if I understood well, there's more restructuring to be expected, I think.
Luc Van fraeyenhoven: Yeah. The question was, if I understood well, if there is more restructuring to be expected.
Luc Van fraeyenhoven: Yeah. The question was, if I understood well, if there is more restructuring to be expected.
Speaker #5: Yes.
Christian Feist: Yes
Christian Faitz: Yes
Speaker #1: On the expenses in the second half of the year, the answer to that is no. We have taken all restructuring expenses according to the EFRS accounting guidelines in the first half of the year, when the people had to leave the company.
Luc Van fraeyenhoven: On the expenses on the H2 of the year, the answer on that is no. We have taken all restructuring expenses according to the IFRS accounting guidelines in the H1 of the year when the people had to leave the company, unfortunately. All expenses for the amount of EUR 1.9 million, as we have laid out in the numbers, have been taken into consideration in the H1 of the year, Christian.
Luc Van fraeyenhoven: On the expenses on the H2 of the year, the answer on that is no. We have taken all restructuring expenses according to the IFRS accounting guidelines in the H1 of the year when the people had to leave the company, unfortunately. All expenses for the amount of EUR 1.9 million, as we have laid out in the numbers, have been taken into consideration in the H1 of the year, Christian.
Speaker #1: Unfortunately, all expenses for the €1.2 million and the amount of €1.9 million, as we have laid out in the numbers, have been taken into consideration in the first half of the year, Christian.
Speaker #1: Yeah.
Speaker #5: Okay. Thanks.
Luc Van fraeyenhoven: Okay, thanks.
Luc Van fraeyenhoven: Okay, thanks.
Speaker #1: Yeah. Thank you, Luke. If it's okay, Luke, I will take the second question on the Bioins 2 and the collaboration with Syngenta. So again, reiterating, we achieved the first research milestone earlier this year.
Luc Van fraeyenhoven: Yeah.
Luc Van fraeyenhoven: Yeah.
Carlo Boutton: Thank you, Luc. If it is okay, Luc, I will.
Carlo Boutton: Thank you, Luc. If it is okay, Luc, I will.
Luc Van fraeyenhoven: Yeah
Luc Van fraeyenhoven: Yeah
Carlo Boutton: take the second question on the BioIns-2 and collaboration with Syngenta. Again, reiterating, we achieved the first research milestone earlier this year. Based on that research success, we continue, still in the research phase, on next steps, which are currently ongoing. Depending on the outcome of these results, together with Syngenta, we will evaluate if these results are good enough to proceed into a development program, if they are good enough to proceed into a further research phase, or if it is not enough to proceed, and that is actually what we are alluding to.
Carlo Boutton: take the second question on the BioIns-2 and collaboration with Syngenta. Again, reiterating, we achieved the first research milestone earlier this year. Based on that research success, we continue, still in the research phase, on next steps, which are currently ongoing. Depending on the outcome of these results, together with Syngenta, we will evaluate if these results are good enough to proceed into a development program, if they are good enough to proceed into a further research phase, or if it is not enough to proceed, and that is actually what we are alluding to.
Speaker #1: Based on that research success, we continued—still in the research phase—on the next steps, which I've heard are ongoing. Depending on the outcome of these results, together with Syngenta, we will evaluate if these results are good enough to proceed into the development program.
Speaker #1: If they are good enough to proceed into a further research phase, or if it's not enough to proceed. And that's actually what we are alluding to.
Speaker #5: Okay. Thanks very much.
Christian Feist: Okay. Thanks very much.
Christian Faitz: Okay. Thanks very much.
Speaker #1: You're welcome.
Carlo Boutton: You are welcome.
Carlo Boutton: You are welcome.
Speaker #3: We are now going to proceed with our next question. The questions come from the line of Frank Clason from Degroof Petercam. Please ask your question.
Operator: We are now going to proceed with our next question. The question has come from the line of Frank Claassen from Degroof Petercam. Please ask your question.
Operator: We are now going to proceed with our next question. The question has come from the line of Frank Claassen from Degroof Petercam. Please ask your question.
Speaker #2: Yes, good afternoon. Two questions, please. First of all, now that you have implemented your refocus, could you elaborate on how much lower the cost base will be in the second half versus the first half?
Frank Claassen: Yes. Good afternoon. Two questions, please. First of all, now that you have implemented your refocus, could you elaborate how much lower the cost base will be in the H2 versus the H1, and also going into 2027? Secondly, on Evoca NG, the five-batch production, you expect the results in November. My question is, what are the next steps after that? What are the next hurdles you have to overcome before you can file for approval in the US and Europe? Thank you.
Frank Claassen: Yes. Good afternoon. Two questions, please. First of all, now that you have implemented your refocus, could you elaborate how much lower the cost base will be in the H2 versus the H1, and also going into 2027? Secondly, on Evoca NG, the five-batch production, you expect the results in November. My question is, what are the next steps after that? What are the next hurdles you have to overcome before you can file for approval in the US and Europe? Thank you.
Speaker #2: And also, going into 2027. And secondly, on Evoka NG, with the five-batch production, you expect the results in November. My question is, what are the next steps after that?
Speaker #2: What are the next hurdles you have to overcome before you can file for approval in the US and Europe? Thank you.
Speaker #1: Yeah. Thank you, Frank. Perhaps the first question, Luke, you can address that. So in fact, when we have laid out the restructuring or the diet sizing program, Frank, we have announced also in the press that that compared to the original structure, that that would lead to a saving compared to the original structure till the end of 2028, total saving of in total 20 million euro.
Carlo Boutton: Yeah. Thank you, Frank. Perhaps the first question, Luc, you can address that.
Carlo Boutton: Yeah. Thank you, Frank. Perhaps the first question, Luc, you can address that.
Luc Van fraeyenhoven: Yeah. So in fact, when we have laid out the restructuring or the rightsizing program, Frank, we have announced also in the press that compared to the original structure, that would lead to a saving compared to the original structure till the end of 2028, a total saving in total EUR 20 million. So that's what we have announced. And in fact, it consists of internal expense saving, which is based on, of course, the related salary expenses, overheads, and so on and so on. It's also partly related to external
Luc Van fraeyenhoven: Yeah. So in fact, when we have laid out the restructuring or the rightsizing program, Frank, we have announced also in the press that compared to the original structure, that would lead to a saving compared to the original structure till the end of 2028, a total saving in total EUR 20 million. So that's what we have announced. And in fact, it consists of internal expense saving, which is based on, of course, the related salary expenses, overheads, and so on and so on. It's also partly related to external
Speaker #1: So that's what we have announced. In fact, it consists of internal expense savings, which are based on, of course, the related salary expenses, overheads, and so on.
Speaker #1: But also partly related to external program expenses, which are the number of programs that we have put on hold. So, it's a combination of both.
Luc Van fraeyenhoven: Program expenses, which are the number of programs that we have put on hold. It's a combination of both. But that's in fact the total of EUR 20 million saving compared to the original plan till the end of 2028. Yeah.
Luc Van fraeyenhoven: Program expenses, which are the number of programs that we have put on hold. It's a combination of both. But that's in fact the total of EUR 20 million saving compared to the original plan till the end of 2028. Yeah.
Speaker #1: But that's, in fact, a total of €20 million in savings compared to the original plan through the end of 2028. Yeah. Thank you, Luke. On the second question, on Evoca NG, and then what's happening after the successful five batches.
Carlo Boutton: Thank you, Luc. On the second question on Evoca NG, then what is happening after successful five batches. To reiterate, the five batches are a requirement for regulatory studies. So that in material of these five batches, we will do a number of regulatory studies, not all of them, because after all, we use the same active ingredient, so limited number of regulatory studies which are required for next submission. We will also do bridging trials with Evoca NG to demonstrate that the efficacy of Evoca and Evoca NG are similar. And then we are in discussions with commercial manufacturers to upscale the commercial manufacturing of Evoca NG. Submission of Evoca NG is planned for mid-2027, both US and Europe.
Carlo Boutton: Thank you, Luc. On the second question on Evoca NG, then what is happening after successful five batches. To reiterate, the five batches are a requirement for regulatory studies. So that in material of these five batches, we will do a number of regulatory studies, not all of them, because after all, we use the same active ingredient, so limited number of regulatory studies which are required for next submission. We will also do bridging trials with Evoca NG to demonstrate that the efficacy of Evoca and Evoca NG are similar. And then we are in discussions with commercial manufacturers to upscale the commercial manufacturing of Evoca NG. Submission of Evoca NG is planned for mid-2027, both US and Europe.
Speaker #1: So, to reiterate, the five batches are a requirement for regulatory studies, so with the material from these five batches, we will conduct a number of regulatory studies.
Speaker #1: Not all of them, because after all, we use the same active ingredient. So, a limited number of regulatory studies are required for the next submission.
Speaker #1: We'll also do bridging trials with Evoka NG to demonstrate that the efficacy of Evoka and Evoka NG are similar. And then, we're also in discussions with commercial manufacturers to scale up the commercial manufacturing of Evoka NG.
Speaker #1: Submission of Evoka NG is planned for mid-2037 in both the US and Europe.
Speaker #2: Okay. Thank you very much.
Frank Claassen: Okay. Thank you very much.
Frank Claassen: Okay. Thank you very much.
Speaker #1: Thank you, Frank.
Carlo Boutton: Thank you, Frank.
Carlo Boutton: Thank you, Frank.
Speaker #2: Thank you.
Toon Musschoot: Thank you.
Toon Musschoot: Thank you.
Speaker #3: Thank you. There are no further questions on the phone, so I'll now hand back to you for the webcast questions.
Operator: Thank you. There are no further questions on the phone, so I will now hand back to you for the webcast questions.
Operator: Thank you. There are no further questions on the phone, so I will now hand back to you for the webcast questions.
Speaker #4: Thank you, Razia. So, we have a question here in the tool, in the chat function of the webcast. I will read it out loud.
Toon Musschoot: Thank you, Razia. We have a question here in the tool, in the chat function of the webcast. I will read it out loud. Can you shed more color on the third party currently testing an Agrobody bioactive against Oomycetes in Belgium and the Netherlands?
Toon Musschoot: Thank you, Razia. We have a question here in the tool, in the chat function of the webcast. I will read it out loud. Can you shed more color on the third party currently testing an Agrobody bioactive against Oomycetes in Belgium and the Netherlands?
Speaker #4: Can you shed more light on the third party currently testing an AgroBody bioactive against OMI seeds in Belgium and the Netherlands?
Speaker #1: I'm sure it's a very relevant question, so thank you for the question. Of course, we cannot name the third party; we are bound by confidentiality there.
Carlo Boutton: Sure. It is a very relevant question, so thank you for the question. Of course, we cannot name the third party. We are bound to confidentiality there. But indeed, it is related to BioFun-4. As mentioned before, BioFun-4 program is put on hold. We had some early lead candidates. We had several discussions with a couple of parties about this early lead candidate, and now there is one fourth party who is interested in testing the performance of these BioFun-4 lead candidates, both in Phytophthora, which is a heavily devastating disease in potato in Western Europe, and then Plasmopara or downy mildew on grapes.
Carlo Boutton: Sure. It is a very relevant question, so thank you for the question. Of course, we cannot name the third party. We are bound to confidentiality there. But indeed, it is related to BioFun-4. As mentioned before, BioFun-4 program is put on hold. We had some early lead candidates. We had several discussions with a couple of parties about this early lead candidate, and now there is one fourth party who is interested in testing the performance of these BioFun-4 lead candidates, both in Phytophthora, which is a heavily devastating disease in potato in Western Europe, and then Plasmopara or downy mildew on grapes.
Speaker #1: But indeed, it is related to Biofilm 4. As mentioned before, the Biofilm 4 program is a bit on hold. We had some early lead candidates.
Speaker #1: We had several discussions with a couple of parties about these early lead candidates. And now there is one party who is interested in testing the performance of these biofilm four lead candidates, both in Phytophthora—which is a heavily deficiting disease in potato in Western Europe—and then Plasmopara, or downy mildew, on grapes.
Speaker #4: Thank you, Carlo. I don't see any other questions in the tool. Razia, I don't know whether there are other questions in the conference call.
Toon Musschoot: Thank you, Carlo. I do not see any other questions in the tool. Razia, I do not know whether there are other questions in the conference call.
Toon Musschoot: Thank you, Carlo. I do not see any other questions in the tool. Razia, I do not know whether there are other questions in the conference call.
Speaker #3: No, there are no questions on the conference call currently.
Operator: No, there are no questions on the conference call currently.
Operator: No, there are no questions on the conference call currently.
Speaker #4: Well, I think we're happy to close if everything is clear, then. And with that, of course, I would like to thank everybody for joining the call.
Toon Musschoot: Well, I think we are happy to close if everything is clear then. With that, of course, I would like to thank everybody for joining the call. Thank you, Carlo and Luc, for the clarity. Everybody can reach out to us through email via ir@biotalys.com. Or you will also be able to find us on our direct email addresses. Thank you very much for joining us today and speak to you later.
Toon Musschoot: Well, I think we are happy to close if everything is clear then. With that, of course, I would like to thank everybody for joining the call. Thank you, Carlo and Luc, for the clarity. Everybody can reach out to us through email via ir@biotalys.com. Or you will also be able to find us on our direct email addresses. Thank you very much for joining us today and speak to you later.
Speaker #4: Thank you, Carlo and Luke, for the clarity. Everybody can reach out to us through email at ir@biotalis.com, or you will also be able to find us through our direct email addresses.
Speaker #4: Thank you very much for joining us today, and speak to you later.
Operator: This concludes today's conference call. Thank you all for participating. You may now disconnect your lines. Thank you.
Operator: This concludes today's conference call. Thank you all for participating. You may now disconnect your lines. Thank you.
