Evogene Ltd is a biotechnology company focused on enhancing the productivity and sustainability of the agriculture industry through the development of innovative biological solutions. The company leverages advanced computational biology and data-driven approaches to identify and engineer novel traits in plants, aiming to improve crop performance and resilience. By utilizing its proprietary technology platform, Evogene collaborates with industry partners to create products that address critical challenges such as pest resistance, drought tolerance, and nutrient efficiency in various agricultural sectors. Read More
As markets navigate continued volatility, several stocks have entered oversold territory—presenting potential opportunity for value-seeking investors. Below are fast takes on notable names, including Evogene Ltd. (NASDAQ: EVGN), Gulf Resources Inc. (NASDAQ: GURE), Peraso Inc. (NASDAQ: PRSO), MicroAlgo Inc. (NASDAQ: MLGO) and more across biotech, fintech, and industrial segments among others below.
Evogene Ltd. released its fourth-quarter and full-year 2023 financial results, showing a 237% revenue increase for the year. Despite a 12% revenue decrease in Q4, the Israeli cannabis company reported $5.6 million in total revenue for the year. CEO Ofer Haviv highlighted the company's successful collaborations with industry leaders like Corteva, ICL, and Syngenta, contributing to revenue growth. In Q4, gross profit decreased to $180,000, but net financing income rose to $287,000. Total operating expenses increased to $7.8 million, leading to a net loss of $7.3 million. For the full year, gross profit reached $3.9 million, and net financing income was approximately $521,000. Evogene also secured partnerships with Verb Biotics and Colors Farm, along with receiving a €1.2 million EU grant for its Ag-Seed Division's research and development efforts.
Evogene Ltd (NASDAQ: EVGN) shares are trading lower by 5.9% to $0.63 Thursday morning after the company received a letter from the Nasdaq indicating that the company is not in compliance with the minimum bid price rule.
Gainers ProMIS Neurosciences, Inc. (NASDAQ: PMN) shares jumped 126.6% to $6.37. ProMIS showcased preclinical data at the Alzheimer's Association International Conference 2023 on computationally-derived antibody and vaccine from Alzheimer's pipeline.
