Welcome to Evogene's Third Quarter 2025 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded in November 20, 2025. Before we begin, we'd 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. This presentation contains forward-looking statements relating to future events and Evogene Ltd, the company may from time to time make other statements regarding our outlook or expectation for future financial or operating results and/or other matters regarding or affecting us that are considered forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995, the PSLRA, and other securities laws as demand. Statements that are not statements or historical fact may be deemed to be forward-looking statements. Such forward-looking statements may be identified by the use of such words as believe, expect, anticipate, should, plan, estimate, intend and potential or words of similar meaning. We are using forward-looking statements in this presentation when we discuss our value drivers, commercializations, efforts and timing, product development and launches, estimate market sizes and milestones pipeline as well as our capabilities and technology. Such statements are based on current expectations, estimates, projections and assumptions described opinions about future events, involve certain risks and uncertainties, which are difficult to predict and are not guarantees of future performance. Readers are cautioned that certain important factors may affect the company's actual results and could cause such results to differ materially from any forward-looking statement that may be made in this presentation. Therefore, actual future results, performance or achievements, and trends in the future may differ materially from what is expressed or implied by such forward-looking statements, due to a variety of factors, many of which are beyond our control, including without limitation, the…

Thank you for joining Evogene's Third Quarter 2025 Analyst Call. In today's call, I'd like to focus on the company's new strategy. which I partly shared at our previous quarterly calls and its current implementation. I will also provide an update on our expectation to start breaking the business benefits of the strategic shift over the coming year. Following my remarks, our CFO, Yaron Eldad will present the financial results, and we will then open the call for questions. But as usual, I will start with the financial highlights. During the first 9 months ending September 30, 2025, Evogene advanced its strategic transition towards establishing itself as a leader in computational chemistry, with a focus on the generative design of small molecules for the pharmaceutical and agriculture industries. As part of this new strategy, the company executed an organizational change and cost reduction plan, most of which was completed by the end of the second quarter. The impact of these measures is reflected in the third quarter results, with total operating expenses, net, of approximately $2.9 million compared to $6.6 million in the same period of 2024. This new expense level is expected to be maintained going forward. The financial results of Lavie Bio, Evogene's subsidiary, for the 9- and 3-month ending September 30, 2025, are presented as a single-line item in Evogene's consolidated P&L statement for 2025. Its results are including under the line titled: income or loss from discontinued operations net, this accounting presentation includes the sale of the majority of Lavie Bio's activities to ICL, which was completed in July 2025, and together with the sale of MicroBoost for Ag, generated income of approximately $7.9 million in the third quarter of 2025. In the 9 months ending September 30, 2025, revenues amounted to approximately $3.5 million, compared…

Thank you, Ofer. The financial results for the first 9 months of 2025 and the capital gain of Lavie Bio, a subsidiary of Evogene, are presented as a single line item in Evogene's consolidated P&L statement for the first 9 months of 2025. Its results are included under the line titled: income or loss from discontinued operations. This accounting treatment reflects the classification of Lavie Bio's operations and its capital gain as discontinued following the sale of the majority of its activities to ICL which was completed in July 2025. During the first half of 2025, Evogene implemented a cost reduction plan, most of which was completed by the end of the second quarter. The impact of these reductions is reflected in the first 9 months results. As of September 30, 2025, Evogene held cash, cash equivalents and short-term bank deposits of approximately $16 million. The consolidated cash usage during the third quarter of 2025, excluding the cash generated from the sale of the majority of Lavie Bio's assets and the sale of MicroBoost AI for Ag to ICL was approximately $3.5 million. Excluding Lavie Bio and Biomica, Evogene and its other subsidiaries used approximately $2.3 million in cash during the third quarter of 2025. Revenues for the 9 months of 2025 were approximately $3.5 million, compared to approximately $4 million on the same period the previous year, reflecting a decrease of approximately $0.5 million. The decrease was primarily driven by lower revenue recognized from AgPlenus' activity, which included onetime payment from Bayer during the first quarter of 2024. And revenues recognized from the collaboration agreement with Corteva, partially offset by an increase in seed sales generated by Casterra during the first quarter of 2025. Revenues for the third quarter of 2025 were approximately $300,000, a decrease compared to approximately…

[Operator Instructions] The first question, has the levels of interest in AI ChemPass increased post the recent NVIDIA and Eli Lilly AI drug discovery partnership. Also, could you please elaborate why Evogene's proprietary database should garner similar interest from others in pharma and technology industries?

Thank you for this question. This is Ofer. So I think that the announcement coming from NVIDIA and Eli Lilly definitely increase the interest and the traffic in shares in companies that are related to AI activity for the pharma industry. But I have to say that, I think that we didn't need even this announcement to generate interest. I think this is one of the hottest areas these days in the pharma world. And I think that this is really just the beginning of this new area of activity, and it's here to stay. With respect to Evogene, and I think that we are operating something very unique. I can share with you that we participate in a conference in Europe last month, and we see increased interest in what we are presenting to potential partners. It's -- I think we are already 1 year in this area of presenting our ChemPass technology for the pharma industry, and we see increasing interest in what we are doing. And we shouldn't forget that in the ag industry, we already have a significant collaboration agreement with Bio and Corteva, which you can imagine that they validate our technology before they engage in this collaboration agreement. What is unique about Evogene, from my perspective, this multiparameter approach, it's one. Then the second is that in Evogene, the people that are working in the computational -- ag part -- in computational division, they have a PhD degree in genomics. And this is the type of people that can design for scratch an AI tech-engine, and this is what is called foundation model. And we did it together with the Google team and we succeed to create a very unique dedicated AI engine that from the beginning, it was designed for a small molecule discovery and optimization. This is something that is not existing in other places. And in addition, the way that we are utilizing our technology, while we integrate every piece of information coming from our partners, it also puts us in a very different position compared to other companies because we don't believe in a one-size-fit-all approach, where you're developing the specific technology and you are using it for all the company, the same way. In our case, we modified the technology for each partner according to the specific need of the specific -in a program we are engaged. So yes, it might take a little bit longer, but the performance of what we deliver is expected to be much higher than the approach of one-size-fit-all. So I think that our technology is offering something different. And as time is going by, and we have more and more meetings with potential partners, our belief is getting stronger and stronger that we are coming with something which other company is not offering these days.

The next question, how close are you to unlocking partners with AI ChemPass?

So as I mentioned, we see an increase of interest in what we are offering. If the meetings that we participate -- in the conference, we participate in the early years and the beginning of the year, we returned with a small number of potential candidates. Now it's much -- the list of potential candidates has increased significantly. And based on this, I believe that we hopefully will start to announce on more additional collaboration agreement with biotech companies at beginning of next year. And we'll start to hear more and more on new collaborations. And hopefully, with -- starting with small biotech companies, maybe even some -- or maybe academic institution, but later on, it will be midsized biotech companies. And in our target at the end of the day is also to engage with pharma company with a significant collaboration agreement. But this will take a little bit more time. But as I said, small biotech companies will start to -- hopefully to be able to announce such collaboration at the beginning of next year.

The next question. Last quarter, you spoke to doing more IR to drive awareness to the company, but very little seems to be done. What's the IR strategy going forward? And can we rely on it being implemented in short order?

It's an interesting question because we just now discuss here this -- our approach in presenting the company strategy in this analyst call was the right one because it's taken a little bit longer than what we expected. But I think that -- but we all agree that the answer to this question is yes. And how is connected to the question that was just now raised. I think from this analyst call, now we present the first time, our -- the new presentation in an analyst call, where we are describing Evogene in the new structure, focusing on ChemPass AI, the utilization of this technology in the ag and in the pharma and the collaboration that we engaged. And from here on, this will be the main messaging the company would like to share with investors. Yes, we, of course, we will continue to talk about our subsidiary, Casterra, but the main focus will be on what I just now described. And we are now -- and we are planning to initiate roadshows and participate in conferences next year, not necessarily just IR meeting with investors, but also meeting with -- in professional event. And I think that starting from -- actually from -- even from December, we are planning that Evogene and the new story of Evogene will be out there. And hopefully, we'll start to see more and more events, IR events that we will be involved.

The next question, could you highlight upcoming catalysts over the coming 6 to 12 months? Specifically, when could we expect the first partnership?

So I think, I partially addressed this question. From my perspective, we can envision three type of press releases related to the Evogene new strategy, new collaborations in the Pharma division, meaning that additional biotech companies will use our technology to discover and optimize small molecules for the specific targets. Then expansion of the existing collaboration or new collaboration in the Ag division. I'm talking here, of course, about AgPlenus. And third, and this is something that I think is quite important for us to mention, exactly as we engage with Google in building an important piece in our tech engine, I'm expecting and hoping that there will be additional announcements like this one with companies like Google, the same size of Google or also maybe with Google. And I think that our belief is that we definitely should accelerate the development of ChemPass AI through collaboration with company like Google, in order to keep our competitive advantage in the future as well.

The next question. What type of revenue level can we expect for castor seeds in Q4 and for 2026?

We can't disclose this information. What I can say is that about Casterra, they are now talking with companies, strategic companies in the field of castor oil, companies that can really have a significant effect on the company revenue in the future. When this discussion will materialize, of course, we will share this information with our investors. But I think this is a good news that even in the past, we were talking about specifically one partner that we already disclosed its name, ENI. But I think that today, we believe that there is additional opportunity for companies that can have the same effect on Casterra that we are now talking with them. And there is more than one like this. So when this discussion will materialize into agreement, of course, we'll be more than happy to share this information with our investors.

The next question. How excited are you about AI ChemPass compared to all your other times at Evogene?

I think that this is a very interesting question. I think that for many, many years, Evogene was focusing mainly on the ag sector. And I think that we succeed to go through some significant technology breakthrough. But from different reasons, and I don't want to get into it, the ag sector don't give you a financial trend to such an achievement from different reasons. I think the pharma, the situation is different, and I think that, first, the fact that we are focusing on the pharma industry, yes, we are still in the ag industry with respect to AgPlenus, but our main focus is going to be on the pharma industry. So I think this is the right decision for Evogene. In addition, the type of people that are working here in Evogene is people that hold a PhD degree. And this is very important, when you're talking about AI, because if you really want to be a player in AI, with all the respect to first degree or second degree, it's not enough. You need to have a much broader understanding in computational science in order to be -- to act as a player in AI industry. So I truly believe that we have the right people for the right challenge. And again, based on initial validation we conduct here in Evogene, based on the discussion we conduct now in the last bio conference. I would like to say the following, if we will succeed to mimic the same success Evogene demonstrate in the ag industry. If we succeed to do so in the pharma industry, our company will be something that everybody will be proud to participate in our journey. We have been there. We succeed to work with all the world -- all the big companies in the pharma industry -- in the Ag industry. I hope that we'll be able to do exactly the same, but this time, the financial rewards will come after the efforts that we are going to invest.

There are no further questions at this time. Mr. Haviv, would you like to make a concluding statement?

Yes, I would like to thank everybody in participating in this analyst call. For me, it was a very unique presentation, where we present for the first time, the new Evogene story, with the new presentation. And I really hope that in the next analyst call, we will have much more to share with you, along the guidelines that I just now described.

Thank you. This concludes Evogene's Second -- Third Quarter 2025 Results Conference Call. Thank you for your participation. You may go ahead and disconnect.