Date: May 17, 2017 |
EVOGENE LTD.
(Registrant) By: /s/ Alex Taskar —————————————— Alex Taskar Chief Financial Officer |
EXHIBIT NO.
|
DESCRIPTION
|
99.1
|
Press Release: Evogene Reports First Quarter 2017 Financial Results.
|
As of March 31,
|
As of
December 31,
|
|||||||||||
2017
|
2016
|
2016
|
||||||||||
Unaudited
|
Audited
|
|||||||||||
CURRENT ASSETS:
|
||||||||||||
Cash and cash equivalents
|
$
|
3,290
|
$
|
3,985
|
$
|
3,236
|
||||||
Restricted cash
|
47
|
47
|
47
|
|||||||||
Marketable securities
|
68,014
|
74,187
|
71,738
|
|||||||||
Short-term bank deposits
|
12,017
|
20,603
|
13,137
|
|||||||||
Trade receivables
|
625
|
625
|
169
|
|||||||||
Other receivables
|
1,886
|
1,852
|
1,163
|
|||||||||
85,879
|
101,299
|
89,490
|
||||||||||
LONG-TERM ASSETS:
|
||||||||||||
Long-term deposits
|
4
|
16
|
13
|
|||||||||
Property, plant and equipment, net
|
6,017
|
7,716
|
6,483
|
|||||||||
6,021
|
7,732
|
6,496
|
||||||||||
$
|
91,900
|
$
|
109,031
|
$
|
95,986
|
|||||||
CURRENT LIABILITIES:
|
||||||||||||
Trade payables
|
$
|
778
|
$
|
1,161
|
$
|
1,330
|
||||||
Other payables
|
3,161
|
2,335
|
2,803
|
|||||||||
Liabilities in respect of government grants
|
696
|
252
|
125
|
|||||||||
Deferred revenues and other advances
|
1,033
|
816
|
967
|
|||||||||
5,668
|
4,564
|
5,225
|
||||||||||
LONG-TERM LIABILITIES:
|
||||||||||||
Liabilities in respect of government grants
|
2,766
|
2,944
|
3,303
|
|||||||||
Deferred revenues and other advances
|
128
|
161
|
138
|
|||||||||
Severance pay liability, net
|
32
|
26
|
31
|
|||||||||
2,926
|
3,131
|
3,472
|
||||||||||
SHAREHOLDERS' EQUITY:
|
||||||||||||
Ordinary shares of NIS 0.02 par value:
Authorized − 150,000,000 ordinary shares; Issued and outstanding – 25,626,809, 25,436,862 and 25,480,809 shares at
March 31, 2017 and 2016 and December 31, 2016, respectively
|
141
|
140
|
141
|
|||||||||
Share premium and other capital reserve
|
184,206
|
181,170
|
183,342
|
|||||||||
Accumulated deficit
|
(101,041
|
)
|
(79,974
|
)
|
(96,194
|
)
|
||||||
83,306
|
101,336
|
87,289
|
||||||||||
$
|
91,900
|
$
|
109,031
|
$
|
95,986
|
Three Months Ended
March, 31
|
Year ended
December 31,
|
|||||||||||
2017
|
2016
|
2016
|
||||||||||
Unaudited
|
Audited
|
|||||||||||
Revenues
|
$
|
721
|
$
|
2,016
|
$
|
6,540
|
||||||
Cost of revenues
|
647
|
1,515
|
5,639
|
|||||||||
Gross profit
|
74
|
501
|
901
|
|||||||||
Operating expenses:
|
||||||||||||
Research and development, net
|
4,004
|
3,725
|
16,405
|
|||||||||
Business development
|
451
|
362
|
1,696
|
|||||||||
General and administrative
|
878
|
998
|
3,889
|
|||||||||
Total operating expenses
|
5,333
|
5,085
|
21,990
|
|||||||||
Operating loss
|
(5,259
|
)
|
(4,584
|
)
|
(21,089
|
)
|
||||||
Financing income
|
722
|
1,334
|
2,424
|
|||||||||
Financing expenses
|
(302
|
)
|
(122
|
)
|
(891
|
)
|
||||||
Loss before taxes on income
|
(4,839
|
)
|
(3,372
|
)
|
(19,556
|
)
|
||||||
Taxes on income
|
8
|
-
|
36
|
|||||||||
Net loss
|
$
|
(4,847
|
)
|
$
|
(3,372
|
)
|
$
|
(19,592
|
)
|
|||
Basic and diluted net loss per share
|
$
|
(0.19
|
)
|
$
|
(0.13
|
)
|
$
|
(0.77
|
)
|
Share
capital
|
Share premium and other capital reserve
|
Accumulated deficit
|
Total
|
|||||||||||||
(Unaudited)
|
||||||||||||||||
Balance as of January 1, 2017 (audited)
|
$
|
141
|
$
|
183,342
|
$
|
(96,194
|
)
|
$
|
87,289
|
|||||||
Net loss
|
-
|
-
|
(4,847
|
)
|
(4,847
|
)
|
||||||||||
Exercise of options
|
*) -
|
348
|
-
|
348
|
||||||||||||
Share-based compensation
|
-
|
516
|
-
|
516
|
||||||||||||
Balance as of March 31, 2017
|
$
|
141
|
$
|
184,206
|
$
|
(101,041
|
)
|
$
|
83,306
|
Share
capital
|
Share premium and other capital reserve
|
Accumulated deficit
|
Total
|
|||||||||||||
(Unaudited)
|
||||||||||||||||
Balance as of January 1, 2016 (audited)
|
$
|
140
|
$
|
180,214
|
$
|
(76,602
|
)
|
$
|
103,752
|
|||||||
Net loss
|
-
|
-
|
(3,372
|
)
|
(3,372
|
)
|
||||||||||
Exercise of options
|
*) -
|
85
|
-
|
85
|
||||||||||||
Share-based compensation
|
-
|
871
|
-
|
871
|
||||||||||||
Balance as of March 31, 2016
|
$
|
140
|
$
|
181,170
|
$
|
(79,974
|
)
|
$
|
101,336
|
Share capital
|
Share premium and other capital reserve
|
Accumulated deficit
|
Total
|
|||||||||||||
(Audited)
|
||||||||||||||||
Balance as of January 1, 2016
|
$
|
140
|
$
|
180,214
|
$
|
(76,602
|
)
|
$
|
103,752
|
|||||||
Net loss
|
-
|
-
|
(19,592
|
)
|
(19,592
|
)
|
||||||||||
Exercise of options
|
1
|
185
|
-
|
186
|
||||||||||||
Share-based compensation
|
-
|
2,943
|
-
|
2,943
|
||||||||||||
Balance as of December 31, 2016
|
$
|
141
|
$
|
183,342
|
$
|
(96,194
|
)
|
$
|
87,289
|
Three Months ended
March, 31
|
Year ended
December 31,
|
|||||||||||
2017
|
2016
|
2016
|
||||||||||
Unaudited
|
Audited
|
|||||||||||
Cash flows from operating activities:
|
||||||||||||
Net loss
|
$
|
(4,847
|
)
|
$
|
(3,372
|
)
|
$
|
(19,592
|
)
|
|||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||||||
Adjustments to the profit or loss items:
|
||||||||||||
Depreciation
|
545
|
591
|
2,279
|
|||||||||
Share-based compensation
|
516
|
871
|
2,943
|
|||||||||
Net financing income
|
(565
|
)
|
(1,294
|
)
|
(1,688
|
)
|
||||||
Loss from sale of property, plant and equipment
|
-
|
-
|
39
|
|||||||||
Taxes on income
|
8
|
-
|
36
|
|||||||||
504
|
168
|
3,609
|
||||||||||
Changes in asset and liability items:
|
||||||||||||
Decrease (increase) in trade receivables
|
(456
|
)
|
2,050
|
2,506
|
||||||||
Increase in other receivables
|
(720
|
)
|
(768
|
)
|
(100
|
)
|
||||||
Decrease in long-term deposits
|
9
|
6
|
9
|
|||||||||
Decrease in trade payables
|
(429
|
)
|
(295
|
)
|
(215
|
)
|
||||||
Increase (decrease) in other payables
|
357
|
(756
|
)
|
(303
|
)
|
|||||||
Increase in severance pay liability, net
|
1
|
-
|
5
|
|||||||||
Increase (decrease) in deferred revenues and other advances
|
56
|
119
|
(81
|
)
|
||||||||
Increase in liabilities in respect of government grants
|
-
|
115
|
115
|
|||||||||
(1,182
|
)
|
471
|
1,936
|
|||||||||
Cash received (paid) during the period for:
|
||||||||||||
Interest received
|
671
|
679
|
2,360
|
|||||||||
Taxes paid
|
(11
|
)
|
-
|
(6
|
)
|
|||||||
Net cash used in operating activities
|
(4,865
|
)
|
(2,054
|
)
|
(11,693
|
)
|
||||||
Cash flows from investing activities:
|
||||||||||||
Purchase of property, plant and equipment
|
(198
|
)
|
(383
|
)
|
(808
|
)
|
||||||
Proceeds from sale of marketable securities
|
6,286
|
3,490
|
23,926
|
|||||||||
Purchase of marketable securities
|
(2,704
|
)
|
(5,285
|
)
|
(24,561
|
)
|
||||||
Proceeds from (investment in) bank deposits, net
|
1,120
|
(2,000
|
)
|
5,466
|
||||||||
Proceeds from sale of property, plant and equipment
|
-
|
-
|
5
|
|||||||||
Net cash provided by (used in) investing activities
|
4,504
|
(4,178
|
)
|
4,028
|
Three Months ended
March, 31
|
Year ended
December 31,
|
|||||||||||
2017
|
2016
|
2016
|
||||||||||
Unaudited
|
Audited
|
|||||||||||
Cash flows from financing activities:
|
||||||||||||
Proceeds from exercise of options
|
348
|
85
|
186
|
|||||||||
Proceeds from government grants
|
101
|
108
|
802
|
|||||||||
Repayment of government grants
|
(94
|
)
|
(199
|
)
|
(333
|
)
|
||||||
Net cash provided by (used in) financing activities
|
355
|
(6
|
)
|
655
|
||||||||
Exchange rate differences - cash and cash equivalent balances
|
60
|
2
|
25
|
|||||||||
Increase (decrease) in cash and cash equivalents
|
54
|
(6,236
|
)
|
(6,985
|
)
|
|||||||
Cash and cash equivalents, beginning of the period
|
3,236
|
10,221
|
10,221
|
|||||||||
Cash and cash equivalents, end of the period
|
$
|
3,290
|
$
|
3,985
|
$
|
3,236
|
||||||
Significant non-cash transactions
|
||||||||||||
Acquisition of property, plant and equipment
|
$
|
56
|
$
|
76
|
$
|
150
|
||||||