Evogene Ltd. (NASDAQ:EVGN) Q3 2022 Earnings Call Transcript

Kristen Kluska: Yes, it does. Thank you, Ofer. And then can you give us some context as to what we could expect to see in the spring 2023 update for Biomica? Is this primarily going to focus on safety or do you think we’ll get some clues into early efficacy signals at this time? And then are you targeting to present at a medical conference in the spring?

Ofer Haviv: So, actually the reason that Elran is not participating in this call, as an example, is because he participated in a conference in Boston in a very important panel. And I received a very positive feedback from this event. And yes, we will participate in different conferences and we are going to publish it and we’re going to present the results. With respect to what I’m expecting in spring 2023, the clinical trial is focusing on safety. So, of course, we are going to disclose information about safety, but the things that you can already see some indication that we are in a good shape, otherwise, we won’t be able to move to the third patient. And hopefully, after we will receive positive feedback from the second and the third, we can move automatically to recruit the additional nine patients.

So I think that, again, you never know until you have all the results. But safety, this is definitely what we’re going to focus on. And I think that we — at least until now we are in good shape. With respect to efficacy, so of course if we are going to see some indication for efficacy, we’re going to disclose this information. Please remember that the patients that we are recruiting for this experiment, they are all suffering from cancer. They all received already one treatment of that it didn’t help them. And now they’re entering into another cycle of treatment with , but this time with our microbe. So if we are going to see some positive effects, it’s really going to have a lot of meaning and make us very, very excited. So we are not targeting for this because the number of patients is relatively very small.

It’s only 12. But if we’re going to do some indication like this, of course, we will share this information with the public.

Kristen Kluska: Okay. Thanks. And last question for me is, if you could talk a little bit more about the work that you’re doing to understand the financial resource requirements moving forward for each of the subsidiaries?

Ofer Haviv: So we have — each of our CEO is establishing a clear target for ’23 and ’24. Each one of our subsidiaries is building the required budget. And we are building our financial plan according to this need. And I think that based on the financial plan that we already established, I think that we are in a good shape. And as I said, I can’t disclose much, but I believe that at least some of our subsidiaries, we will be able to raise money in the short term or maybe in the mid-term. And this definitely will support their activity. And I can’t disclose more than this. But we are aware to the challenging environment. And the fact that we currently keeping all of the activity moving forward, I think it should send a message that we are confident on our ability also to fund this activity at this period during next year. And I hope that if our plan will materialize, we will be all with a big smile also for 2024.

Kristen Kluska: Great, thanks again.

Operator: . There are no further questions at this time. Before I ask Mr. Ofer Haviv to go ahead with his closing statement, I would like to remind participants that a replay of this call is scheduled to begin two hours after the conference. In the U.S., please call 1-888-326-9310. In Israel, please call 03-925-5901. Internationally, please call 972-3-925-5901. Mr. Haviv, would you like to make your concluding statement?