Being a computational biological company, Evogene Ltd. (EVGN) experiences a gain of 2.32% in the premarket at the time of writing. However, the last trading session ended at $3.02 with an increase of 0.67%.
EVGN Announces 23rd Annual Global Investment Conference
On 1st September 2021, it was announced that Ofer Haviv, Evogene’s President and CEO, will speak at the H.C. Wainwright 23rd Annual Global Investment Conference, 2021, from September 9 to 15, 2021. EVGN is a leading computational biology company striving to revolutionize life-science research and development across multiple market segments.
Pre-sale of Medical Cannabis Products of the First Generation
G-nnovation products will be offered to a small number of approved patients in Israel as part of the pre-launch through Telepharma pharmacy, which Canonic recently partnered with.
The pre-launch of medical cannabis was announced on the 31st of August 2021 by EVGN.
The pre-launch comes after Canonic’s Meta Yield product program successfully completed the selection and development of the first-generation G-nnovation product line, as well as the approval of product files by the Israel Medical Cannabis Authority (IMCA) and the establishment of commercialization channels.
According to current figures by EVGN, roughly 100,000 approved patients consumed around 20 tons of cannabis in the first six months of 2021, with a total medical cannabis industry in Israel projected at $260 million per year. According to industry projections, the Israeli market will reach roughly 250,000 patients by 2025, depending on current growth rates.
EVGN releases financial results for 2021
It was declared on the 11th of August 2021 that the overall net cash consumption in the first half of 2021 was about $11.3 million, or $8.9 million without Lavie Bio. These figures exclude $28 million in net proceeds from EVGN’s at-the-market (ATM) sales and $0.5 million in profits from option exercise. The overall cash consumption in the second quarter was $5.7 million, or $4.5 million without Lavie Bio.
Conclusion
The future of Evogene Ltd (EVGN) is bright since it is one of the high-yielding stocks. The “EVGN” stock price projection is 17.148 USD in the near future.
