Shares of Evogene Ltd. (EVGN) gained over 67% on Tuesday morning after the company announced completion of its generative AI foundation model, version 1.0, for small molecule design, developed in collaboration with Google Cloud.
EVGN is currently trading at $1.8899, up $0.7599 or 67.2478%, on a huge volume of 74 million shares, above average volume of 0.4 million, on the Nasdaq. The stock opened its trading at $2.0600 after closing Monday at $1.1300. The stock has traded between $0.9500 and $7.2000 in the past 52-week period.
In both pharma and agriculture, successful product development depends on identifying molecules that meet complex performance criteria while also being patentable.
Ofer Haviv, President and CEO of Evogene, stated: "Completing our foundation model is a major milestone in our offering. It unlocks new frontiers for ChemPass AI, giving us the power to generate wholly novel molecules—ones that not only perform but also create new IP space."
For comments and feedback: editorial@rttnews.com