Evogene reports Q2 financial results with $1.2M total revenues

August 12, 2017 |

In Israel, Evogene Ltd. announced total revenues for the second quarter of 2017 of $1.2 million, compared to $1.8 million for the second quarter in 2016. The decline in revenues reflects the net decrease in research and development cost reimbursement, in accordance with the work plans under Evogene’s various collaboration agreements, according to their press release. They also noted that during the first half of 2017 they saw a negative impact on expenses due to the depreciation of the USD in comparison to the Israeli Shekel. Evogen’s expenses, mostly salaries, are denominated in Israeli Shekels while their reporting currency is USD.

Ofer Haviv, Evogene’s President and CEO, stated in the press release, “In our on-going Fusarium collaboration with Monsanto, we reached an important milestone, and our newly initiated collaboration with DuPont-Pioneer, is a testament to the important achievements reached in our internal bio-stimulant product program. We are making important progress in all three of our core activity areas: Ag-Biologicals, Seed Traits and Ag-Chemicals.” As reported in the Digest earlier this month, DuPont Pioneer and Evogene Ltd announced a multiyear collaboration for the research and development of microbiome-based seed treatments in corn.

 

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