Evogene Ltd. (NASDAQ:EVGN) (TASE: EVGN) announced on Thursday its financial results for the fourth quarter and full-year period ending December 31, 2023.
In the fourth quarter revenues amounted to $578 000, down 12% year-over-year. However, the Rehovot, Israel-based cannabis company reported $5.6 million in revenue for 2023, representing a year-over-year increase of 237% from $1.7 million in 2022.
“The Evogene Group has experienced a transformative year with industry perception of our technology and products translating into growing collaborations with world-leading companies,” Ofer Haviv, Evogene’s president and CEO, said in a press release.
Haviv praised the company’s “collaboration momentum” referring to forged partnerships with Corteva, ICL, Syngenta and Baye, to name a few, via its subsidiaries Casterra Ag Ltd., AgPlenus Ltd., Biomica Ltd., and Lavie Bio Ltd.
“These efforts not only validate our contributions but also bolster our financial position through various revenue streams, reflected in today’s reported revenues,” Haviv added.
As for its Canonic Ltd. subsidiary that develops medical cannabis products based on decoding plant genetics for optimized therapeutic …