Ladies and gentlemen, thank you for standing by. Welcome to Evogene's Second Quarter 2019 Results Conference Call. All participants are at present in listen-only mode. Following management's formal presentation, instructions will be given for the question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded July 31, 2019. Before we begin, I would like to caution that certain statements made during this earnings conference call by Evogene's management will constitute forward-looking statements that relate to future events, risks and uncertainties regarding business strategy, operations and future performance and results of Evogene. I encourage you to review Evogene's filings with the U.S. Securities and Exchange Commission, and read the note regarding forward-looking statements in their earnings releases, which states that statements made in these earnings releases and in similar way on this earnings conference call that are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements made herein speak only as of the date of the announcement of results. Many of the factors that impact, whether forward-looking statements will come true, are beyond the control of Evogene and may cause actual results to differ materially from anticipated results. Evogene is under no obligation to update publicly or alter our forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by law. We expressly disclaim any obligation to do so. More detailed information about the risk factors potentially adversely impacting our performance can be found in our reports filed with the U.S. Securities and Exchange Commission. That said, I would now like to turn over the call to Ofer Haviv, Evogene's CEO. Ofer, please go ahead.

Thank you and good day everyone. We appreciate you joining us today for our second quarter 2019 conference call. Joining me today are Ms. Dorit Kreiner, our CFO and Mr. Ido Dor, CEO of Evogene’s ag-biologicals subsidiary Lavie Bio. In my brief comments today, I will focus mainly on providing more color on Evogene’s role in supporting its subsidiaries in order to accelerate their product development towards commercialization in each subsidiaries market. I will then also review some recent key achievements. Following my comments, Ido will give an overview of Lavie Bio, which will then be followed by Dorit, who will discuss our financial results for the second quarter of 2019. We will then open the call for your questions. Let's begin. As our longer term shareholders should be familiar with, Evogene's core asset is its unique computational technological capabilities, the CPB platform. This unique platform has allowed us to establish market-oriented subsidiaries in various life-science markets developing their own dedicated product pipeline towards commercialization, while the CPB platform serves as their main competitive advantage. Once again, I would like to remind of the capabilities of our unique CPB platform for the prioritization and optimization of genes, proteins, microbes and small molecules. These discoveries in turn have the potential to be or to provide the basis for creating novel and often next generation products in lifescience based industries. In particular, the CPB has allowed us, during the past few years, to very efficiently establish a number of market-focused subsidiaries with exciting early stage product pipelines for the market areas we have selected to date. At present, Evogene has subsidiaries focused in three general life-science based areas. Agriculture, human health and life-science based industrial applications. In the area of agriculture, we have two subsidiaries and also have one division. Let's start…

Thank you, Ofer. I am happy to take part in Evogene's quarterly conference call. My name is Ido Dor and I lead the activity of Lavie Bio, Evogene’s subsidiary in the area of ag-biologicals. Previously, I led this activity in Evogene from its initiation in 2015. Today, I would like to speak to you about our product development at Lavie. In a nutshell, Lavie aims to improve food quality, sustainability and agriculture productivity through the introduction of microbiome based ag-biological products. We aim to do things better by nature, focusing on productivity, health and sustainability. The agriculture market is shifting. The tone of the conversation and demand for products is being increasingly driven by consumer preferences rather than farmer preferences like in the past. The consumer is increasing the visibility and significance of sustainable practices, health and quality of produce. Ag-biologicals are instrumental in this journey and we, at Lavie, are excited to take part in this change. To achieve these goals, Lavie is developing ag-biologicals for a wide variety of crops. We are developing bio-stimulants, bio-pesticides and bio-X products. Bio-stimulants are products aimed to improve the plant’s yield and natural response to environmental conditions for example, improved resistance to drought, better nutrient uptake etc. Bio-pesticides aim to protect plants from pests. We're focusing mainly on protecting against diseases. Bio-X products are our unique segment where we focus our efforts on food functionality in order to drive quality and health properties. We currently have five different product programs, two bio-stimulant programs for corn and wheat, two bio-pesticide programs focusing on bio-fungicides for corn and grapes and a program focusing on food functionality consumer traits. In light of our announcement on field results in our bio-stimulant wheat program, I wanted to highlight this program in this call. This is the program…

Thank you, Ido. I will begin by reviewing our balance sheet. Evogene continues to maintain a strong financial position, with approximately $46 million in cash, cash related accounts and bank deposits as of June 30, 2019. This represents cash usage of approximately $8.7 million during the first half of 2019 and $4.2 million during the second quarter of 2019. For the full year of 2019, we continue to estimate that our net cash usage will be in the range of $16 to $18 million, assuming that none of our subsidiaries secure external financial resources such as through new collaborations or external fund raising. Evogene’s consolidated cash use is mostly appropriated to its subsidiaries, mainly Lavie Bio, AgPlenus, and Biomica, with funds also used for the establishment of infrastructure and greenhouses for Canonic. The Company does not have bank debts. Let’s now turn to the statement of operations. As discussed in prior calls, Evogene’s revenues to date have consisted primarily of research and development revenues. These revenues represent R&D cost reimbursement and milestones under our various collaboration agreements, as reflected in the cost of revenues. The majority of these agreements also provide for development milestone payments and royalties or other forms of revenue sharing from successfully developed products. Gross profit for the first half of 2019 was approximately $0.4 million in comparison to approximately $0.2 million for the first half of 2018. Gross profit for the second quarter of 2019 remained stable at approximately $0.1 million in comparison to the second quarter of 2018. Moving on, the R&D expenses for the first half of 2019 remained stable at approximately $7 million in comparison to the first half of 2018. The R&D expenses for the second quarter of 2019 remained stable at approximately $3.5 million in comparison to the second quarter of…

Thank you. I would like to thank everyone that participated in the call today. Thank you and good day everyone.

This concludes Evogene’s second quarter 2019 results conference call. Thank you for your participation, you may go ahead and disconnect.