--- title: "Evogene cuts 30% of workforce, reports $11.7 million cash and $18.71 million" url: "https://aibio.space/news/evogene-cuts-30-percent-workforce-reports-11-7-million-cash-18-71/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-08-19" section: "Distress" tickers: "NASDAQ:EVGN" source: "https://www.sec.gov/Archives/edgar/data/1574565/000117891325002976/exhibit_99-1.htm" summary: "Evogene is cutting 30% of its workforce and says an $18.71 million asset sale and a $4.4 million share program give it an 18-month runway. The $11.7 millio" --- By the aibio.space news desk. Sources - [Evogene Ltd. 6-K (2025-08-19)](https://www.sec.gov/Archives/edgar/data/1574565/000117891325002976/exhibit_99-1.htm) [EVGN](https://aibio.space/companies/evogene/) 2025-08-19 # Evogene cuts 30% of workforce, reports $11.7 million cash and $18.71 million ICL sale Tickers [EVGN](https://aibio.space/companies/evogene/) Evogene is cutting 30% of its workforce and says an $18.71 million asset sale and a $4.4 million share program give it an 18-month runway. The $11.7 million cash figure leaves out the sale proceeds, and the company's equity attributable to shareholders is negative. ## Key facts - **Company**: Evogene Ltd. (NASDAQ: EVGN) - **News type**: Distress - **Primary source**: [Evogene Ltd. 6-K (2025-08-19)](https://www.sec.gov/Archives/edgar/data/1574565/000117891325002976/exhibit_99-1.htm) *The Capitol in autumn. CC0, via rawpixel. The picture shows the field, not the companies named.* Evogene Ltd. (Nasdaq and TASE: [EVGN](https://aibio.space/companies/evogene/)) reported its second-quarter 2025 results on August 19, 2025, in an exhibit to a [Form 6-K](https://www.sec.gov/Archives/edgar/data/1574565/000117891325002976/exhibit_99-1.htm). The Rehovot, Israel company reported cash, cash equivalents and short-term bank deposits of approximately $11.7 million at June 30, 2025. The release says that figure does not include the proceeds of the sale of most of Lavie Bio's activities and the MicroBoost AI for Ag platform to ICL, which closed in July 2025. ## The sale and what it is worth The release says the ICL sale was for a total of $18.71 million. The release does not say how much of that was received in cash in July, how much is held back, or what Lavie Bio's remaining obligations are. It says the sale "boosted our cash position through direct and indirect proceeds," and that Lavie Bio redeemed a simple agreement for future equity investment made by an ICL affiliate as part of the transaction. Lavie Bio's first-half results are presented in a single line, "loss from operations held for sale, net," of $2.2 million, compared with $0.8 million a year earlier. Evogene says it intends to sell the majority of Lavie Bio's activities, and it expects dividends from Lavie Bio to flow to Evogene as majority shareholder. ## The runway claim Chief executive Ofer Haviv says that, combined with the ICL transaction, the company now holds an 18-month operational runway. The release does not show how that period was calculated. The company's cash figure excludes the sale, so the runway depends on proceeds the release does not quantify in cash terms. The release lists the runway among its forward-looking statements, and it says the statements involve risks and uncertainties. Consolidated cash used in the second quarter was approximately $2.4 million. Excluding Lavie Bio and Biomica, Evogene and its other subsidiaries used approximately $1.0 million. ## Share sales and dilution Evogene raised $4.4 million in June 2025 by fully using its existing at-the-market facility, at an average price of $2.31 per share. The release describes this as reflecting strong market confidence, but it also means the facility has been used up. The number of ordinary shares rose from 6,514,589 at December 31, 2024 to 8,714,230 at June 30, 2025. ## Cuts and restructuring Evogene carried out a 30% workforce reduction, with savings expected from the third quarter of 2025. AgPlenus will be integrated into Evogene, with a 40% workforce reduction at AgPlenus. Biomica reduced staff and management overhead and is focused on completing its BMC128 clinical trial, expected by early 2026, while seeking partners to lead its development programs. For the first half of 2025, revenues were approximately $3.2 million, compared with $2.3 million a year earlier, mainly from seed sales at Casterra. Total operating expenses, net, fell to approximately $7.7 million from approximately $11.1 million. The net loss for the first half was approximately $7.7 million, compared with approximately $9.8 million. ## The balance sheet At June 30, 2025, cash and cash equivalents were $8,329 thousand and short-term bank deposits were $3,362 thousand. Assets held for sale were $12,218 thousand. Against that, the company carried a convertible SAFE liability of $10,026 thousand. Equity attributable to Evogene's shareholders was a deficit of $3,550 thousand, while total equity, including non-controlling interests, was $12,375 thousand. The accumulated deficit stood at $281,121 thousand. ## What the release leaves out The release gives no timetable for the Biomica trial beyond "by early 2026," and no figures for Biomica's own cash. It names no adviser on the ICL sale. It does not say how the convertible SAFE will be settled, or whether the company's equity deficit affects its listing. The company says it is "a leaner, more focused, and more AI-centric company," but it does not give revenue or margin targets for the coming year. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story EVGN Evogene Ltd. 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Cite as: aibio.space, "Evogene cuts 30% of workforce, reports $11.7 million cash and $18.71 million", 2025-08-19, https://aibio.space/news/evogene-cuts-30-percent-workforce-reports-11-7-million-cash-18-71/