Evogene reported a narrowed net loss of $1.8 million in Q2 2026, a 62% improvement from $4.7 million in the same period a year earlier, while revenue declined 40% to $0.3 million compared with $0.5 million in Q2 2025. The company’s shares fell 7.77% to $165.10 in recent trading, extending a decline from a previous close of $179 and pushing the stock to a 52-week low of $115.10.
Cash usage in the quarter totaled $2.1 million, with full-year 2026 cash burn guided at $8.5 million to $9.5 million, down from ILS 20.5 million in 2024. Evogene’s cash balance stood at approximately $9.3 million as of June 30, 2026. The company raised about $0.8 million through an at-the-market program in Q2 and an additional $2.4 million in Q3, issuing roughly 2.5 million shares for total proceeds of ILS 11.1 million.
Operating expenses declined across categories, with research and development spending at $1.4 million, sales and marketing at $0.3 million, and general and administrative costs at $0.9 million. Net financing income totaled $1 million in Q2 2026, compared with net financing expenses of $0.3 million a year earlier. The company reported a gross profit margin of negative 47% and a current ratio of 2.79.
Evogene reduced its workforce from 117 employees to 38 as part of a restructuring effort. The company highlighted six active drug-development collaborations, including four signed since the start of 2026. Legacy operations were streamlined, with the AgPlenus agreement with Bayer concluding in May 2026 after the APTH1 herbicide program was discontinued. Lavie Bio was sold to ICL for ILS 15.25 million, while Biomica’s phase I asset was licensed to Lishan Biotech. Casterra refocused on Brazil’s sustainable aviation fuel market, ending older castor seed sales.
Technology development advanced, with the ChemPass AI platform expanding its virtual chemical space from 36 billion to 110 billion molecules through a second Google Cloud agreement. The company’s internal pharma program completed Step 2 and moved to Step 3, with preclinical trials targeted for the second half of 2027. The Septoria fungicide program is nearing Step 3 completion, with greenhouse and field trials upcoming. Evogene also introduced the Antifungal Potency Predictor model.
Management addressed corporate governance, noting a demand by dissident investors to replace the board ahead of a contested election in September. If successful, the board plans to add two nominees: Dr. Yael Margolin, an expert in pharmaceutical innovation and commercialization, and Yoshinori Oyakawa, a biotechnology veteran. Major shareholder Leon Recanati was highlighted as a key board member following a significant personal investment.
Evogene’s earnings call took place on August 18, 2026, with Ofer Haviv, President and CEO, and Nir Nimrodi, Chairman of the Board, among those quoted.
