EvoGene Ltd: quarterly net loss reduced to about $1.8 million

EvoGene Ltd. (NASDAQ: EVGN) reported a quarterly net loss of approximately $1.8 million for the first quarter of 2026, a reduction compared to last year net loss of $3.0 million. The company attributed this improvement to a combination of lower operating expenses and a modest increase in revenues, despite a challenging market environment.

Revenues for the first quarter of 2026 totaled approximately $0.3 million, a decrease from $2.3 million in the same period of 2025. This decline was primarily due to reduced sales from Casterra, which had previously generated significant revenue from seed sales in 2025. However, the company noted that this reduction was partially offset by lower operating expenses, which declined to $3.2 million from $3.0 million in the prior year.

Research and development (R&D) expenses for the quarter were approximately $1.8 million, down from $2.5 million in the first quarter of 2025. This reduction was driven by lower R&D costs in subsidiaries such as Biomica, Casterra, and AgPlenus. Additionally, the company reported a decrease in general and administrative expenses, which remained stable at $1.2 million.

Financing expenses for the quarter were approximately $2.7 million, a significant increase from the $1.1 million in financing income recorded in the same period of 2025. This change was primarily due to the accounting treatment of pre-funded warrants and warrants issued in the February 2026 warrant inducement transaction, which resulted in a $3.8 million financing expense during the quarter.

Despite these challenges, the company highlighted progress in its core business areas. In the pharmaceutical sector, EvoGene announced three new collaborations with biotech companies and academic institutions, expanding its pipeline of therapeutic candidates. In agriculture, the company's AgPlenus subsidiary continued to advance its herbicide and fungicide programs, with notable progress in lead optimization.

Looking ahead, EvoGene remains focused on executing its strategic initiatives, including expanding its technological collaborations, advancing its product pipelines, and forming new strategic partnerships. The company also expects to receive additional payments from the ICL transaction related to its former subsidiary, Lavie Bio, which is expected to contribute financially in the coming quarters.

As of March 31, 2026, EvoGene held consolidated cash of approximately $13.1 million. The company continues to manage its cash flow carefully, with a focus on sustaining its operations and supporting its long-term growth objectives.