Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2023 | |
Document And Entity Information [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2023 |
Entity Registrant Name | EVOGENE LTD. |
Entity Central Index Key | 0001574565 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2023 |
Entity Address, Address Line One | 13 Gad Feinstein Street |
Entity Address, Address Line Two | Park Rehovot |
Entity Address, Address Line Three | P.O.B 2100 |
Entity Address, Country | IL |
Entity Address, City or Town | Rehovot |
Entity Address, Postal Zip Code | 7612002 |
CONSOLIDATED INTERIM STATEMENTS
CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 20,233 | $ 28,980 |
Marketable securities | 0 | 6,375 |
Short-term bank deposits | 13,641 | 0 |
Trade receivables | 178 | 348 |
Other receivables and prepaid expenses | 1,419 | 1,482 |
Inventories | 249 | 566 |
Total current assets | 35,720 | 37,751 |
LONG-TERM ASSETS: | ||
Long-term deposits and other receivables | 53 | 74 |
Deferred taxes | 0 | 94 |
Right-of-use-assets | 1,319 | 1,568 |
Property, plant and equipment, net | 2,589 | 2,499 |
Intangible assets, net | 13,659 | 14,140 |
Total long term assets | 17,620 | 18,375 |
Total assets | 53,340 | 56,126 |
CURRENT LIABILITIES: | ||
Trade payables | 1,078 | 1,036 |
Employees and payroll accruals | 2,159 | 1,987 |
Lease liability | 894 | 884 |
Liabilities in respect of government grants | 541 | 79 |
Deferred revenues and other advances | 392 | 22 |
Other payables | 1,327 | 1,617 |
Total current liabilities | 6,391 | 5,625 |
LONG-TERM LIABILITIES: | ||
Lease liability | 585 | 932 |
Liabilities in respect of government grants | 4,343 | 4,665 |
Other advances | 578 | 0 |
Convertible SAFE | 10,334 | 10,114 |
Total non-current liabilities | 15,840 | 15,711 |
SHAREHOLDERS' EQUITY: | ||
Ordinary shares of NIS 0.02 par value: Authorized - 150,000,000 ordinary shares; Issued and outstanding - 41,724,467 shares as of June 30, 2023 and 41,260,439 shares as of December 31, 2022 | 237 | 235 |
Share premium and other capital reserve | 261,052 | 261,402 |
Accumulated deficit | (247,001) | (233,707) |
Equity attributable to equity holders of the Company | 14,288 | 27,930 |
Non-controlling interests | 16,821 | 6,860 |
Total equity | 31,109 | 34,790 |
Shareholder's Equity and Liabilities | $ 53,340 | $ 56,126 |
CONSOLIDATED INTERIM STATEMEN_2
CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (Parenthetical) - ₪ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Statement of financial position [abstract] | ||
Ordinary shares, par value | ₪ 0.02 | ₪ 0.02 |
Ordinary shares, authorized shares | 150,000,000 | 150,000,000 |
Ordinary shares, issued shares | 41,724,467 | 41,260,439 |
Ordinary shares, outstanding shares | 41,724,467 | 41,260,439 |
CONSOLIDATED INRERIM STATEMENTS
CONSOLIDATED INRERIM STATEMENTS OF PROFIT OR LOSS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Profit or loss [abstract] | ||
Revenues | $ 1,295 | $ 549 |
Cost of revenues | 783 | 425 |
Gross profit | 512 | 124 |
Operating expenses: | ||
Research and development, net | 10,169 | 11,043 |
Sales and marketing | 1,728 | 1,870 |
General and administrative | 3,312 | 3,273 |
Total operating expenses | 15,209 | 16,186 |
Operating loss | (14,697) | (16,062) |
Financing income | 699 | 485 |
Financing expenses | (785) | (3,243) |
Financing expenses, net | (86) | (2,758) |
Loss before taxes on income | (14,783) | (18,820) |
Taxes on income (tax benefit) | (24) | 40 |
Loss | (14,759) | (18,860) |
Attributable to: | ||
Equity holders of the Company | (13,294) | (17,096) |
Non-controlling interests | (1,465) | (1,764) |
Loss | $ (14,759) | $ (18,860) |
Basic loss per share, attributable to equity holders of the Company | $ (0.32) | $ (0.42) |
Diluted loss per share, attributable to equity holders of the Company | $ (0.32) | $ (0.42) |
Weighted average number of ordinary shares used in computing basic loss per share | 41,567,298 | 41,195,024 |
Weighted average number of ordinary shares used in computing diluted loss per share | 41,567,298 | 41,195,024 |
CONSOLIDATED INRERIM STATEMEN_2
CONSOLIDATED INRERIM STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Thousands | Share capital [Member] | Share premium and other capital reserves [Member] | Accumulated deficit [Member] | Total Attributable to equity holders of the Company [Member] | Non-controlling interests [Member] | Total | |||||
Balance at Dec. 31, 2021 | $ 234 | $ 260,488 | $ (207,069) | $ 53,653 | $ 9,767 | $ 63,420 | |||||
Loss | 0 | 0 | (17,096) | (17,096) | (1,764) | (18,860) | |||||
Forfeiture of non-controlling interests regarding share-based compensation | 0 | 60 | 0 | 60 | (60) | 0 | |||||
Benefit to non-controlling interests regarding share-based compensation | 0 | (2) | 0 | (2) | 2 | 0 | |||||
Exercise of subsidiary options | 0 | [1] | 0 | [1] | [1] | [1] | |||||
Exercise of options | 0 | 7 | 0 | 7 | 0 | 7 | |||||
Restricted stock units (“RSUs”) vested | [1] | [1] | 0 | 0 | 0 | 0 | |||||
Share-based compensation | 0 | 327 | 0 | 327 | 503 | 830 | |||||
Balance at Jun. 30, 2022 | 234 | 260,880 | (224,165) | 36,949 | 8,448 | 45,397 | |||||
Balance at Dec. 31, 2022 | 235 | 261,402 | (233,707) | 27,930 | 6,860 | 34,790 | |||||
Loss | 0 | 0 | (13,294) | (13,294) | (1,465) | (14,759) | |||||
Issuance of ordinary shares, net | 2 | 334 | 0 | 336 | 0 | 336 | |||||
Forfeiture of non-controlling interests regarding share-based compensation | 0 | 69 | 0 | 69 | (69) | 0 | |||||
Issuance of a subsidiary ordinary shares to the Company | 0 | (809) | 0 | (809) | 809 | 0 | |||||
Issuance of a subsidiary preferred shares to non-controlling interests | 0 | (238) | 0 | (238) | 9,761 | 9,523 | |||||
Restricted stock units (“RSUs”) vested | [1] | [1] | 0 | 0 | 0 | 0 | |||||
Share-based compensation and RSUs | 0 | 294 | 0 | 294 | 925 | 1,219 | |||||
Balance at Jun. 30, 2023 | $ 237 | $ 261,052 | $ (247,001) | $ 14,288 | $ 16,821 | $ 31,109 | |||||
[1]Represents an amount lower than $1. |
CONSOLIDATED INRERIM STATEMEN_3
CONSOLIDATED INRERIM STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities | ||
Loss | $ (14,759) | $ (18,860) |
Adjustments to the profit or loss items: | ||
Depreciation | 807 | 717 |
Amortization of intangible assets | 481 | 577 |
Share-based compensation | 1,219 | 830 |
Increase in Convertible SAFE | 220 | 0 |
Net financing expenses | 6 | 3,146 |
Loss from sale of property, plant and equipment | (26) | 0 |
Taxes on income (tax benefit) | (24) | 40 |
Adjustments to the profit or loss items | 2,683 | 5,310 |
Changes in asset and liability items: | ||
Decrease in trade receivables | 170 | 170 |
Decrease in other receivables | 84 | 463 |
Decrease (increase) in inventories | 317 | (70) |
Increase (decrease) in trade payables | 26 | (172) |
Increase (decrease) in employees and payroll accruals | 172 | (278) |
Decrease in other payables | (162) | (593) |
Increase (decrease) in deferred revenues and other advances | (73) | (159) |
Changes in asset and liability items | 534 | (639) |
Cash received (paid) during the period for: | ||
Interest received | 283 | 80 |
Interest paid | (66) | (227) |
Taxes paid | (10) | (29) |
Net cash used in operating activities | (11,335) | (14,365) |
Cash flows from investing activities: | ||
Purchase of property, plant and equipment | (483) | (747) |
Proceeds from sale of marketable securities | 6,924 | 12,149 |
Purchase of marketable securities | (503) | (659) |
Proceeds from sale of property, plant and equipment | 26 | |
Withdrawal from (investment in) short term bank deposits, net | (13,560) | 3,000 |
Net cash provided by (used in) investing activities | (7,596) | 13,743 |
Cash flows from financing activities: | ||
Issuance of a subsidiary preferred shares to non-controlling interests | 9,523 | 0 |
Proceeds from issuance of ordinary shares, net of issuance expenses | 336 | 0 |
Proceeds from exercise of options | 0 | 7 |
Repayment of lease liability | (413) | (492) |
Proceeds from government and other grants | 1,089 | 30 |
Repayment of government grants | (35) | (14) |
Net cash provided by (used in) financing activities | 10,500 | (469) |
Exchange rate differences - cash and cash equivalent balances | (316) | (2,367) |
Decrease in cash and cash equivalents | (8,747) | (3,458) |
Cash and cash equivalents, beginning of the period | 28,980 | 32,325 |
Cash and cash equivalents, end of the period | 20,233 | 28,867 |
Significant non-cash activities | ||
Acquisition of property, plant and equipment, net | 90 | 66 |
Increase of right-of-use asset recognized with corresponding lease liability | $ 135 | $ 30 |
GENERAL
GENERAL | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure Of General Information [Abstract] | |
GENERAL | NOTE 1: - GENERAL a. Evogene Ltd. (“Evogene” and together with its subsidiaries, the “Company”) was founded on October 10, 1999, as Agro Leads Ltd., a division of Compugen Ltd. In 2002, the Company was spun-off as an independent corporation under the laws of the State of Israel, and changed its name to Evogene Ltd. The Company is a leading computational biology company focused on revolutionizing product discovery and development in multiple life-science based industries, including human health, and agriculture through the use of its broadly applicable Computational Predictive Biology (“CPB”) platform. The CPB platform, incorporating a deep understanding of biology leveraged through the power of Big Data and Artificial Intelligence, has been designed to computationally discover and uniquely guide the development of life-science products based on microbes, small molecules and genetic elements. Utilizing the CPB platform, Evogene and its subsidiaries are now advancing product pipelines for human microbiome-based therapeutics through Biomica Ltd., medical cannabis through Canonic Ltd., ag-biologicals through Lavie Bio Ltd., ag-chemicals through AgPlenus Ltd., and ag-solutions for castor oil production through Casterra Ag Ltd. The Company has a history of losses and incurred operating losses of $14,697 and $16,062 during the six months periods ended June 30, 2023 and 2022, respectively. Furthermore, the Company intends to continue to finance its operating activities by raising capital and seeking collaborations with multinational companies in the industry. The Company's management and board of directors are of the opinion that the Company’s current financial resources will be sufficient to continue the development of the Company's products in the foreseeable future. b. The Company principally derives its revenues from collaboration arrangements. See Note 3. For revenues from major customers see Note 7d. c. The Company has the following subsidiaries: Casterra Ag Ltd. (formerly Evofuel Ltd.), Evogene Inc., Biomica Ltd., AgPlenus Ltd., AgPlenus Inc., Lavie Bio Ltd., Lavie Bio Inc., Lavie Bio Tech Inc., Taxon Biosciences, Inc. and Canonic Ltd. Casterra Ag Ltd. was incorporated on January 1, 2012 and is currently focusing on the development of improved castor bean seeds for industrial uses. Evogene Inc. was incorporated in Delaware, United States on September 22, 2006. Evogene Inc. was engaged in research and development in the field of insect control and located in the Bio-Research and Development Growth (BRDG) Park, in St. Louis, Missouri, United States. Biomica Ltd. (“Biomica”) was incorporated on March 2, 2017, with the mission of discovering and developing human microbiome-based therapeutics. AgPlenus Ltd. was incorporated on June 10, 2018, with the mission to design effective and sustainable crop protection ag-chemicals products by leveraging predictive biology. On August 27, 2020, AgPlenus Ltd. incorporated a wholly owned U.S. subsidiary, AgPlenus Inc. Lavie Bio Ltd. was incorporated on January 21, 2019, with the mission to improve food quality and sustainability through the introduction of microbiome-based ag-biologicals products. In 2019, Lavie Bio Ltd. incorporated two wholly owned subsidiaries, Lavie Bio Inc., located in the Bio-Research and Development Growth (BRDG) Park, in St. Louis, Missouri, United States, and Lavie Bio Tech Inc. Lavie Bio Tech Inc. wholly owns as a subsidiary Taxon Biosciences, Inc. (see item d below). Canonic Ltd. was incorporated on March 25, 2019, with the mission to develop next-generation medical cannabis products. d. On August 6, 2019, Corteva Inc. (“Corteva”) invested in the Company's agriculture biologicals subsidiary, Lavie Bio Ltd., which included a cash investment of $10,000 and the contribution of all shares of Corteva’s wholly owned subsidiary Taxon Biosciences, Inc. for 27.84% of Lavie Bio Ltd.'s shares. As part of the foregoing transaction, the parties entered into a commercial arrangement with respect to the commercialization by Corteva of Lavie Bio Ltd.’s products, mainly in corn and soybean. In August 2022, an affiliate company of ICL and Lavie Bio Ltd. entered a multi-year collaboration agreement for developing novel bio-stimulant products to enrich fertilizer efficiency. As part of the collaboration, ICL invested through an affiliate company in Lavie Bio Ltd. $10,000 under a SAFE agreement (simple agreement for future equity). On December 21, 2022, Biomica, signed a definitive agreement for a $20,000 financing round, led by Shanghai Healthcare Capital (“SHC”), out of which $10,000 shall be invested by the Company in Biomica preferred shares. As a result, the Company recorded a negative capital reserve and an increase of non-controlling interest in the amounts of $238 and $9,761, respectively. In addition, certain convertible loans in total amount of $10,000 were converted by the Company to Biomica’s ordinary shares. As a result, the Company recorded an adjustment to capital reserve and non-controlling interest in amount of $809. Following the closing of the transaction on April 25, 2023, the Company was diluted to approximately 67% of the share capital of Biomica, on a fully diluted basis, while SHC is holding approximately 20%, on a fully diluted basis. In June 2023, Casterra Ag Ltd. signed a framework agreement with a leading oil and gas energy company for the sale of castor varieties at a commercial scale for biofuel production (“the agreement”). e. On January 2021, the Company entered into a Controlled Equity Offering Sales Agreement (the “January 2021 Sales Agreement”). In January and February 2021, pursuant to the January 2021 Sales Agreement, in an “at the market” (“ATM”) offering, the Company issued an aggregate of 3,803,594 ordinary shares with a weighted average selling price of $7.36 per share, resulting in gross proceeds of approximately $28,000. On February 19, 2021, the Company entered into a new Controlled Equity Offering Sales Agreement, having an aggregate offering price of up to $50,000 (subsequently reduced to $19,450), pursuant to which the Company issued 726,832 ordinary shares during April through September 2021, in an ATM offering, with a weighted average selling price of $3.64 per share, resulting in gross proceeds of approximately $2,600. During December 2022, 28,507 ordinary shares were issued through the ATM offering, with a weighted selling price of $0.77 per share, resulting in gross proceeds of approximately $22. During January through June 2023, 432,500 ordinary shares were issued through the ATM offering, with a weighted selling price of $0.80 per share, resulting in gross proceeds of approximately $347. f. The Company’s subsidiaries and divisions are split into three operating segments: (1) Agriculture - Evogene seed traits division, Lavie Bio Ltd. and Ag Plenus Ltd.; (2) Human – Biomica Ltd. and Canonic Ltd.; and (3) Industrial – Casterra Ag Ltd. (see also Note 7). |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of significant accounting policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | NOTE 2: - SIGNIFICANT ACCOUNTING POLICIES Basis of preparation of the interim consolidated financial statements: The interim consolidated financial statements for the six months ended June 30, 2023 have been prepared in accordance with International Accounting Standard 34, “Interim Financial Reporting.” The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2022, included in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2023. The accompanying consolidated balance sheet as of June 30, 2023, the consolidated statements of profit or loss, the statement of changes in shareholders’ equity and the consolidated statements of cash flows for the six months ended June 30, 2023 and 2022 are unaudited. These unaudited interim consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and applicable rules and regulations of the SEC regarding interim financial reporting. In management’s opinion, the unaudited interim consolidated financial statements include all adjustments of a normal recurring nature necessary for the fair presentation of the Company’s financial position as of June 30, 2023 and December 31, 2022, as well as its results of operations and cash flows for the six months ended June 30, 2023 and 2022. The results of operations for the six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The significant accounting policies applied in the preparation of the interim consolidated financial statements are consistent with those followed in the preparation of the 2022 annual consolidated financial statements. |
COLLABORATION AND RESEARCH AGRE
COLLABORATION AND RESEARCH AGREEMENTS | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure Of Collaboration Agreement [Abstract] | |
COLLABORATION AND RESEARCH AGREEMENTS | NOTE 3: - COLLABORATION AND RESEARCH AGREEMENTS During the six months ended June 30, 2023, the Company did not enter into any new collaboration agreements which amount to 10% or more of its total revenues for the period. |
MARKETABLE SECURITIES
MARKETABLE SECURITIES | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure Of Marketable Securities [Abstract] | |
MARKETABLE SECURITIES | NOTE 4: - MARKETABLE SECURITIES Financial assets measured at fair value through profit or loss: June 30, 2023 December 31, Unaudited Audited Corporate bonds and government treasury notes - 6,375 $ - $ 6,375 |
LIABILITIES IN RESPECT OF GOVER
LIABILITIES IN RESPECT OF GOVERNMENT GRANTS | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure Of Liabilities In Respect Of Government Grants [Abstract] | |
LIABILITIES IN RESPECT OF GOVERNMENT GRANTS | NOTE 5: - LIABILITIES IN RESPECT OF GOVERNMENT GRANTS June 30, 2023 December 31, 2022 Unaudited Audited Balance at January 1, 4,744 $ 4,396 Grants received 68 212 Royalties paid (35 ) (31 ) Amounts recorded in profit or loss 107 167 4,884 $ 4,744 The Company received research and development grants from the Israel Innovation Authority (“IIA”) and undertook to pay royalties of 3% of revenues derived from research and development projects that were financed by the IIA, of up to 100% of the grants received. As of June 30, 2023, the Company received accumulative grants amounting to $9,018 (including accrued interest), of which $3,562 were repaid to date. |
SHARE- BASED COMPENSATION
SHARE- BASED COMPENSATION | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
SHARE- BASED COMPENSATION | NOTE 6: - SHARE- BASED COMPENSATION a. Expenses recognized in the financial statements: The expense recognized in the Company's financial statements for services provided by employees and service-providers is as follows: Six months ended June 30, 2023 2022 Unaudited Share-based compensation - Attributable to equity holders of the Company $ 294 $ 327 Share-based compensation - Attributable to non-controlling interests 925 503 $ 1,219 $ 830 E vogene Ltd. maintains two share option and equity incentive plans: the Evogene Ltd. 2013 Share Option Plan and the Evogene Ltd. 2021 Share Incentive Plan (the “2021 Plan”). All such option and incentive plans provide for the grant of options to purchase the Company's ordinary shares and generally expire 10 years from the grant date. b. Evogene Ltd. share-based payment plan for employees, directors and consultants: During the six months ended June 30, 2023 and 2022, the board of directors of Evogene Ltd. approved to grant its employees, directors and consultants an aggregate of 471,000 and 302,000 options, respectively. The fair value of the options determined at their grant date using the binomial model was approximately $153 and $181, respectively. c. Evogene Ltd. share options activity: The following table summarizes the number of share options, the weighted average exercise price, and the changes under to options under the applicable plans to employees, consultants and directors of Evogene Ltd. as of June 30, 2023 and June 30, 2022 and during the periods then ended: 2023 2022 Number of options Weighted average exercise prices ($) Number of options Weighted average exercise prices ($) Outstanding on January 1, 4,036,024 4.17 4,233,950 5.54 Granted 471,000 0.71 302,000 1.17 Exercised - - (5,624 ) 1.09 Forfeited (362,111 ) 4.24 (344,241 ) 5.04 Outstanding on June 30, 4,144,913 3.57 4,186,085 4.66 Exercisable at June 30, 2,757,698 4.68 2,749,667 6.05 d. Evogene Ltd. RSUs activity: The 2021 Plan also provides for the grant of restricted shares and RSUs. During the six months ended June 30, 2023 and 2022, the board of directors of the Company approved to grant its employees, consultants and directors an aggregate of 332,600 and 25,200 RSUs, respectively. The fair value of the RSUs granted during the six months ended June 30, 2023 and 2022, was approximately $249 and $25, respectively, determined at their grant date according to the Company's share price at the time of their grant since the RSUs were granted at a zero exercise price and no dividends were expected to be distributed during their vesting period. The following table summarizes the number of RSUs, the weighted average grant date and the changes to RSUs under the 2021 Plan to employees, consultants and directors of the Company as of June 30, 2023 and June 30, 2022 and during the periods then ended: 2023 2022 Number of RSUs Weighted average grant date fair value Number of RSUs Weighted average grant date fair value Outstanding on January 1, 196,580 2.55 247,775 2.28 Granted 332,600 0.75 25,200 1.26 Vested (31,528 ) 2.61 (26,226 ) 2.41 Forfeited (12,000 ) 3.04 (32,751 ) 1.91 Outstanding on June 30, 485,652 1.3 213,998 2.20 e. The Company's subsidiaries maintain share option and incentive plans with similar terms and conditions. During the six months ended June 30, 2023 and 2022, the Company's subsidiaries approved to grant their employees, directors and consultants 546,839 and 297,523 options, respectively. The fair value of the options determined at their grant date using the binomial model was approximately $1,601 and $908, respectively. The fair value was estimated using the binomial model. The following table summarizes the number of share options, the weighted average exercise price, and the changes to options under the subsidiary option plans to employees, consultants and directors of the Company's subsidiaries as of June 30, 2023 and June 30, 2022 and during the periods then ended: 2023 2022 Number of options Weighted average exercise prices ($) Number of options Weighted average exercise prices ($) Outstanding on January 1, 2,273,489 1.72 1,901,992 1.39 Granted 546,839 1.87 297,523 0.56 Exercised - - (8,270 ) 0.20 Forfeited (473,932 ) 3.15 (141,145 ) 7.95 Outstanding on June 30, 2,346,396 1.46 2,050,100 1.24 Exercisable at June 30, 1,390,561 0.94 1,209,005 1.02 f. The total compensation cost related to all of the Company's equity-based awards, recognized during the presented periods was comprised as follows: Six months ended June 30, 2022 2021 Unaudited Research and development, net $ 469 $ 502 Sales and marketing 297 206 General and administrative 453 122 $ 1,219 $ 830 |
OPERATING SEGMENTS
OPERATING SEGMENTS | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of operating segments [abstract] | |
OPERATING SEGMENTS | NOTE 7: - OPERATING SEGMENTS a. General: The Company operates in three segments, Agriculture, Industry and Human. The Agriculture segment consists of the parent company, Evogene, and two of Evogene’s subsidiaries, Lavie Bio Ltd. and AgPlenus Ltd. The Human segment consists of Evogene’s subsidiaries, Biomica Ltd. and Canonic Ltd. The Industry segment consists of Evogene’s subsidiary Casterra Ag Ltd. The segments were determined on the basis of information considered by the Chief Operating Decision-Maker (“CODM”) for purposes of decision-making on the allocation of resources and evaluation of performance. The following Company's segments are engaged in business activities for which they earn revenues and incur expenses, their results are reviewed by the CODM and discrete financial information is available: Agriculture segment - Develops seed traits, ag-chemical products, and ag-biological products to improve plant performance. Industry segment - Develops improved castor bean seeds to serve as a feedstock source for other industrial uses. Human segment - Discovery and development of human microbiome-based therapeutics and cannabis activity. Unallocated - Other corporate expenses and general development of enabling technologies for optimization. Each segment’s performance is determined based on operating loss reported in the financial statements. The results of a segment reported to the CODM include items attributed directly to a segment, as well as other items, which are indirectly attributed using reasonable assumptions and exclude share-based compensation charges as they are not considered in the internal operating plans and measurement of the segment’s financial performance. b. The following table presents the Company’s revenues and operating loss by segments: Agriculture Industry Human Unallocated Total Unaudited For the six months ended June 30, 2023 Revenues $ 819 $ 28 $ 300 $ 148 $ 1,295 Operating loss $ (5,751 ) $ (156 ) $ (4,795 ) $ (3,995 ) $ (14,697 ) Net financing expenses $ (86 ) Loss before taxes on income $ (14,783 ) c. The following table presents the Company’s revenues and operating loss by segments: Agriculture Industry Human Unallocated Total Unaudited For the six months ended June 30, 2022 Revenues $ 274 $ - $ 196 $ 79 $ 549 Operating loss $ (7,314 ) $ (94 ) $ (4,358 ) $ (4,296 ) $ (16,062 ) Net financing expenses $ (2,758 ) Loss before taxes on income $ (18,820 ) d. Major customers: Detailed below are revenues from major customers each of whom amounts to 10% or more, of total revenues. The revenues from major customers detailed below were recorded in the Agriculture segment: Six months ended June 30, 2023 2022 Unaudited Customer A (shareholder of a subsidiary) 49 % 31 % Customer B 22 % 36 % Customer C 12 % 13 % e. Geographical information: Revenues based on the location of the customers, are as follows: Six months ended June 30, 2023 2022 Unaudited United States 62 % 45 % Israel 36 % 55 % Africa 2 % - 100 % 100 % The carrying amounts of non-current assets (property, plant and equipment property and intangible assets) in Evogene’s country of domicile (Israel) and in the United States based on the location of the assets, are as follows: June 30, 2023 December 31, 2022 Unaudited Audited United States 79 % 79 % Israel 21 % 21 % 100 % 100 % |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
SUBSEQUENT EVENTS | NOTE 8: - SUBSEQUENT EVENTS a. O b. O n July 17 2023, Evogene Ltd. entered into securities purchase agreements with institutional investors for the sale of 8,500,000 ordinary shares in a registered direct offering at a purchase price of $1.00 per ordinary share (the “offering”). The gross proceeds from the offering amounted to approximately $8,500, before deducting placement agent fees and other offering expenses. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of significant accounting policies [Abstract] | |
Basis of preparation of the interim consolidated financial statements | Basis of preparation of the interim consolidated financial statements: The interim consolidated financial statements for the six months ended June 30, 2023 have been prepared in accordance with International Accounting Standard 34, “Interim Financial Reporting.” The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2022, included in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2023. The accompanying consolidated balance sheet as of June 30, 2023, the consolidated statements of profit or loss, the statement of changes in shareholders’ equity and the consolidated statements of cash flows for the six months ended June 30, 2023 and 2022 are unaudited. These unaudited interim consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and applicable rules and regulations of the SEC regarding interim financial reporting. In management’s opinion, the unaudited interim consolidated financial statements include all adjustments of a normal recurring nature necessary for the fair presentation of the Company’s financial position as of June 30, 2023 and December 31, 2022, as well as its results of operations and cash flows for the six months ended June 30, 2023 and 2022. The results of operations for the six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The significant accounting policies applied in the preparation of the interim consolidated financial statements are consistent with those followed in the preparation of the 2022 annual consolidated financial statements. |
MARKETABLE SECURITIES (Tables)
MARKETABLE SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure Of Marketable Securities [Abstract] | |
Schedule of financial assets measured at fair value through profit or loss | June 30, 2023 December 31, Unaudited Audited Corporate bonds and government treasury notes - 6,375 $ - $ 6,375 |
LIABILITIES IN RESPECT OF GOV_2
LIABILITIES IN RESPECT OF GOVERNMENT GRANTS (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure Of Liabilities In Respect Of Government Grants [Abstract] | |
Schedule of liabilities in respect of government grants | June 30, 2023 December 31, 2022 Unaudited Audited Balance at January 1, 4,744 $ 4,396 Grants received 68 212 Royalties paid (35 ) (31 ) Amounts recorded in profit or loss 107 167 4,884 $ 4,744 |
SHARE- BASED COMPENSATION (Tabl
SHARE- BASED COMPENSATION (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Schedule of number of Restricted Stock Units (RSU) | 2023 2022 Number of RSUs Weighted average grant date fair value Number of RSUs Weighted average grant date fair value Outstanding on January 1, 196,580 2.55 247,775 2.28 Granted 332,600 0.75 25,200 1.26 Vested (31,528 ) 2.61 (26,226 ) 2.41 Forfeited (12,000 ) 3.04 (32,751 ) 1.91 Outstanding on June 30, 485,652 1.3 213,998 2.20 |
Schedule of compensation cost of equity-based awards | Six months ended June 30, 2022 2021 Unaudited Research and development, net $ 469 $ 502 Sales and marketing 297 206 General and administrative 453 122 $ 1,219 $ 830 |
Employees, consultants and directors [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Schedule of expense recognized in financial statements | Six months ended June 30, 2023 2022 Unaudited Share-based compensation - Attributable to equity holders of the Company $ 294 $ 327 Share-based compensation - Attributable to non-controlling interests 925 503 $ 1,219 $ 830 |
Schedule of number of share options | 2023 2022 Number of options Weighted average exercise prices ($) Number of options Weighted average exercise prices ($) Outstanding on January 1, 4,036,024 4.17 4,233,950 5.54 Granted 471,000 0.71 302,000 1.17 Exercised - - (5,624 ) 1.09 Forfeited (362,111 ) 4.24 (344,241 ) 5.04 Outstanding on June 30, 4,144,913 3.57 4,186,085 4.66 Exercisable at June 30, 2,757,698 4.68 2,749,667 6.05 |
Employees, consultants and directors of company's subsidiaries [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Schedule of number of share options | 2023 2022 Number of options Weighted average exercise prices ($) Number of options Weighted average exercise prices ($) Outstanding on January 1, 2,273,489 1.72 1,901,992 1.39 Granted 546,839 1.87 297,523 0.56 Exercised - - (8,270 ) 0.20 Forfeited (473,932 ) 3.15 (141,145 ) 7.95 Outstanding on June 30, 2,346,396 1.46 2,050,100 1.24 Exercisable at June 30, 1,390,561 0.94 1,209,005 1.02 |
OPERATING SEGMENTS (Tables)
OPERATING SEGMENTS (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of operating segments [abstract] | |
Schedule of revenues and operating loss by segments | Agriculture Industry Human Unallocated Total Unaudited For the six months ended June 30, 2023 Revenues $ 819 $ 28 $ 300 $ 148 $ 1,295 Operating loss $ (5,751 ) $ (156 ) $ (4,795 ) $ (3,995 ) $ (14,697 ) Net financing expenses $ (86 ) Loss before taxes on income $ (14,783 ) Agriculture Industry Human Unallocated Total Unaudited For the six months ended June 30, 2022 Revenues $ 274 $ - $ 196 $ 79 $ 549 Operating loss $ (7,314 ) $ (94 ) $ (4,358 ) $ (4,296 ) $ (16,062 ) Net financing expenses $ (2,758 ) Loss before taxes on income $ (18,820 ) |
Schedule of major customers | Six months ended June 30, 2023 2022 Unaudited Customer A (shareholder of a subsidiary) 49 % 31 % Customer B 22 % 36 % Customer C 12 % 13 % |
Schedule of geographical information | Six months ended June 30, 2023 2022 Unaudited United States 62 % 45 % Israel 36 % 55 % Africa 2 % - 100 % 100 % |
Schedule of percentage of non-current assets | June 30, 2023 December 31, 2022 Unaudited Audited United States 79 % 79 % Israel 21 % 21 % 100 % 100 % |
GENERAL (Narrative) (Details)
GENERAL (Narrative) (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 6 Months Ended | |||||||||
Aug. 11, 2022 USD ($) | Dec. 31, 2022 USD ($) $ / shares | Dec. 21, 2022 USD ($) | Apr. 30, 2021 USD ($) $ / shares shares | Feb. 19, 2021 USD ($) | Jan. 31, 2021 USD ($) $ / shares shares | Jun. 30, 2023 USD ($) $ / shares | Jun. 30, 2022 USD ($) | Jun. 30, 2023 ₪ / shares shares | Dec. 31, 2022 ₪ / shares shares | Aug. 06, 2019 USD ($) | |
Disclosure of detailed information about business combination [line items] | |||||||||||
Operating loss | $ (14,697) | $ (16,062) | |||||||||
Number of shares issue | shares | 41,724,467 | 41,260,439 | |||||||||
Ordinary shares, par value | ₪ / shares | ₪ 0.02 | ₪ 0.02 | |||||||||
Aggregate offering price | $ 50,000 | ||||||||||
Aggregate offering price subsequently reduced | $ 19,450 | ||||||||||
Issuance of a subsidiary preferred shares to non-controlling interests | 9,523 | ||||||||||
Issuance of a subsidiary ordinary shares to the Company | 0 | ||||||||||
Biomica | Definitive Agreement | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Proportion of ownership interest in subsidiary | 67% | ||||||||||
ICL Group | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Amount of investment under collaboration agreement | $ 10,000 | ||||||||||
At Market Offering ATM | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Number of shares issue | shares | 726,832 | 3,803,594 | 432,500 | 28,507 | |||||||
Cash inflow from issuing shares | $ 22 | $ 347 | |||||||||
Ordinary shares, par value | $ / shares | $ 3.64 | $ 7.36 | |||||||||
Proceeds from issuing shares | $ 2,600 | $ 28,000 | |||||||||
Weighted average share price | $ / shares | $ 0.77 | $ 0.8 | |||||||||
Shanghai Healthcare Capital | Biomica | Definitive Agreement | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Cash investment | $ 10,000 | ||||||||||
Amount Of Investment In Financing Round | $ 20,000 | ||||||||||
Proportion of ownership interest in subsidiary | 20% | ||||||||||
Amount of convertible loans to ordinary shares | $ 10,000 | ||||||||||
Casterra Ag Ltd [Member] | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Expected future sales to supply castor seeds | $ 9,100 | ||||||||||
Expected additional future sales to supply castor seeds | 2,200 | ||||||||||
Share premium and other capital reserves | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Issuance of a subsidiary preferred shares to non-controlling interests | (238) | ||||||||||
Issuance of a subsidiary ordinary shares to the Company | (809) | ||||||||||
Share premium and other capital reserves | Shanghai Healthcare Capital | Biomica | Definitive Agreement | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Issuance of a subsidiary preferred shares to non-controlling interests | (238,000) | ||||||||||
Non-controlling Interests | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Issuance of a subsidiary preferred shares to non-controlling interests | 9,761 | ||||||||||
Issuance of a subsidiary ordinary shares to the Company | $ 809 | ||||||||||
Non-controlling Interests | Shanghai Healthcare Capital | Biomica | Definitive Agreement | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Issuance of a subsidiary preferred shares to non-controlling interests | 9,761,000 | ||||||||||
Issuance of a subsidiary ordinary shares to the Company | $ 809,000 | ||||||||||
Lavie Bio Ltd [Member] | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Cash investment | $ 10,000 | ||||||||||
Ownership percentage held by other entity in subsidiary | 27.84% |
COLLABORATION AND RESEARCH AG_2
COLLABORATION AND RESEARCH AGREEMENTS (Narrative) (Details) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure Of Collaboration Agreement [Abstract] | |
Minimum percentage of revenue of collaboration agreements not entered by company | 10% |
MARKETABLE SECURITIES (Schedule
MARKETABLE SECURITIES (Schedule Of Financial Assets Measured At Fair Value Through Profit Or Loss) (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Financial assets measured at fair value through profit or loss: | ||
Corporate bonds and government treasury notes | $ 0 | $ 6,375 |
Marketable securities | $ 0 | $ 6,375 |
LIABILITIES IN RESPECT OF GOV_3
LIABILITIES IN RESPECT OF GOVERNMENT GRANTS (Narrative) (Details) - IIA [Member] $ in Thousands | 6 Months Ended |
Jun. 30, 2023 USD ($) | |
Disclosure of transactions between related parties [line items] | |
Percentage of royalties paid | 3% of revenues derived from research and development projects |
Maximum percentage for grant received | 100% |
Aggregate Accumulative Grant Received Including Accrued Interest | $ 9,018 |
Aggregate accumulative grant repaid | $ 3,562 |
LIABILITIES IN RESPECT OF GOV_4
LIABILITIES IN RESPECT OF GOVERNMENT GRANTS (Schedule of Liabilities in Respect of Government Grants) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure Of Liabilities In Respect Of Government Grants [Abstract] | ||
Balance at January 1, | $ 4,744 | $ 4,396 |
Grants received | 68 | 212 |
Royalties paid | (35) | (31) |
Amounts recorded in profit or loss | 107 | 167 |
Ending balance | $ 4,884 | $ 4,744 |
SHARE- BASED COMPENSATION (Narr
SHARE- BASED COMPENSATION (Narrative) (Details) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 USD ($) Years shares | Jun. 30, 2022 USD ($) shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share option and incentive plans description | Evogene Ltd. 2013 Share Option Plan and the Evogene Ltd. 2021 Share Incentive Plan (the “2021 Plan”) | |
Maturity for share option and incentive plans | Years | 10 | |
Employees Directors And Consultants [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of options approved to grant | shares | 471,000 | 302,000 |
Fair value of options granted | $ | $ 153 | $ 181 |
Subsidiaries Employees Consultants And Directors [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of options approved to grant | shares | 546,839 | 297,523 |
Fair value of options granted | $ | $ 1,601 | $ 908 |
Restricted Stock Units [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of RSUs approved to grant | shares | 332,600 | 25,200 |
Fair value of restricted stock units granted | $ | $ 249 | $ 25 |
SHARE- BASED COMPENSATION (Sche
SHARE- BASED COMPENSATION (Schedule of Company's Financial Statements) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | ||
Share-based compensation - Attributable to equity holders of the Company | $ 294 | $ 327 |
Share-based compensation - Attributable to non-controlling interests | 925 | 503 |
Total share-based compensation | $ 1,219 | $ 830 |
SHARE- BASED COMPENSATION (Sc_2
SHARE- BASED COMPENSATION (Schedule of Summarized Number of Share Options) (Details) | 6 Months Ended | |
Jun. 30, 2023 shares $ / shares | Jun. 30, 2022 shares $ / shares | |
Employees, consultants and directors [Member] | ||
Number [Abstract] | ||
Outstanding at beginning of year | shares | 4,036,024 | 4,233,950 |
Granted | shares | 471,000 | 302,000 |
Exercised | shares | 0 | (5,624) |
Forfeited | shares | (362,111) | (344,241) |
Outstanding at end of year | shares | 4,144,913 | 4,186,085 |
Exercisable at end of year | shares | 2,757,698 | 2,749,667 |
Weighted Average Exercise Prices [Abstract] | ||
Outstanding at beginning of year | $ / shares | $ 4.17 | $ 5.54 |
Granted | $ / shares | 0.71 | 1.17 |
Exercised | $ / shares | 0 | 1.09 |
Forfeited | $ / shares | 4.24 | 5.04 |
Outstanding at end of year | $ / shares | 3.57 | 4.66 |
Exercisable at end of year | $ / shares | $ 4.68 | $ 6.05 |
Employees, consultants and directors of company's subsidiaries [Member] | ||
Number [Abstract] | ||
Outstanding at beginning of year | shares | 2,273,489 | 1,901,992 |
Granted | shares | 546,839 | 297,523 |
Exercised | shares | 0 | (8,270) |
Forfeited | shares | (473,932) | (141,145) |
Outstanding at end of year | shares | 2,346,396 | 2,050,100 |
Exercisable at end of year | shares | 1,390,561 | 1,209,005 |
Weighted Average Exercise Prices [Abstract] | ||
Outstanding at beginning of year | $ / shares | $ 1.72 | $ 1.39 |
Granted | $ / shares | 1.87 | 0.56 |
Exercised | $ / shares | 0 | 0.2 |
Forfeited | $ / shares | 3.15 | 7.95 |
Outstanding at end of year | $ / shares | 1.46 | 1.24 |
Exercisable at end of year | $ / shares | $ 0.94 | $ 1.02 |
SHARE- BASED COMPENSATION (Sc_3
SHARE- BASED COMPENSATION (Schedule of Restricted Stock Units activity) (Details) - Restricted Stock Units [Member] | 6 Months Ended | |
Jun. 30, 2023 shares $ / shares | Jun. 30, 2022 shares $ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of RSUs, Outstanding | shares | 196,580 | 247,775 |
Number of RSUs, Granted | shares | 332,600 | 25,200 |
Number of RSUs, Vested | shares | (31,528) | (26,226) |
Number of RSUs, Forfeited | shares | (12,000) | (32,751) |
Number of RSUs, Outstanding | shares | 485,652 | 213,998 |
Outstanding at beginning of year | $ / shares | $ 2.55 | $ 2.28 |
Weighted average grant date fair value Granted | $ / shares | 0.75 | 1.26 |
Weighted average grant date fair value Vested | $ / shares | 2.61 | 2.41 |
Weighted average grant date fair value Forfeited | $ / shares | 3.04 | 1.91 |
Outstanding at end of year | $ / shares | $ 1.3 | $ 2.2 |
SHARE- BASED COMPENSATION (Sc_4
SHARE- BASED COMPENSATION (Schedule of Compensation Cost of Equity-Based Awards) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | ||
Research and development, net | $ 469 | $ 502 |
Sales and marketing | 297 | 206 |
General and administrative | 453 | 122 |
Total share-based compensation | $ 1,219 | $ 830 |
OPERATING SEGMENTS (Schedule of
OPERATING SEGMENTS (Schedule of Revenues and Operating Loss by Segments) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenues | $ 1,295 | $ 549 |
Operating loss | (14,697) | (16,062) |
Net financing expenses | (86) | (2,758) |
Loss before taxes on income | (14,783) | (18,820) |
Agriculture [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenues | 819 | 274 |
Operating loss | (5,751) | (7,314) |
Industry [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenues | 28 | 0 |
Operating loss | (156) | (94) |
Human [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenues | 300 | 196 |
Operating loss | (4,795) | (4,358) |
Unallocated [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenues | 148 | 79 |
Operating loss | $ (3,995) | $ (4,296) |
OPERATING SEGMENTS (Schedule _2
OPERATING SEGMENTS (Schedule of Revenues from Major Customers) (Details) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of major customers [line items] | ||
Additional information about revenues | 100% | 100% |
Customer A (shareholder of a subsidiary) [Member] | ||
Disclosure of major customers [line items] | ||
Additional information about revenues | 49% | 31% |
Customer B [Member] | ||
Disclosure of major customers [line items] | ||
Additional information about revenues | 22% | 36% |
Customer C [Member] | ||
Disclosure of major customers [line items] | ||
Additional information about revenues | 12% | 13% |
OPERATING SEGMENTS (Schedule _3
OPERATING SEGMENTS (Schedule of Revenues Based on Customers) (Details) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 100% | 100% |
United States [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 62% | 45% |
Israel [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 36% | 55% |
Brazil [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 2% | 0% |
OPERATING SEGMENTS (Schedule _4
OPERATING SEGMENTS (Schedule of Percentage of Non-Current Assets) (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Non-current assets Percentage | 100% | 100% |
United States [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Non-current assets Percentage | 79% | 79% |
Israel [Member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Non-current assets Percentage | 21% | 21% |
SUBSEQUENT EVENTS (Narrative) (
SUBSEQUENT EVENTS (Narrative) (Details) - Subsequent Event $ / shares in Units, $ in Thousands | 1 Months Ended |
Jul. 17, 2023 USD ($) $ / shares shares | |
Securities Purchase Agreements [Member] | |
Disclosure of non-adjusting events after reporting period [line items] | |
Number of ordinary shares sold | shares | 8,500,000 |
Purchase price per share | $ / shares | $ 1 |
Cash inflow from issuing shares | $ 8,500 |
Lavie Bio Ltd [Member] | Corteva Agriscience Llc [Member] | |
Disclosure of non-adjusting events after reporting period [line items] | |
Initial payment | $ 5,000 |