Evogene Becomes Talk Of Retail Town As Stock Doubles On Genai Drug, Agri Discovery Model With Google Cloud

Evogene Ltd (EVGN) shares doubled on Tuesday after the company said it had completed version 1.0 of its new generative AI foundation model for small molecule design, developed in partnership with Google Cloud. 

The model significantly upgrades Evogene's ChemPass AI platform, helping accelerate the discovery of novel compounds that meet complex pharma and agri-industry needs.

The company's stock closed at seven-month highs on Tuesday and notched its best day on record.

Unlike traditional AI, Evogene said its model was built in-house and trained on Google Cloud's infrastructure. 

The company said its platform can now generate new molecules while meeting multiple design constraints, which is critical to drug development and agricultural chemical design.

Evogene said its internal tests show a nearly 90% success in generating precise, novel molecules, vastly outperforming traditional generative AI models, which clock in around 29%.

The company said it is already developing a second version of its generative AI model.

On Stocktwits, the announcement sent EVGN's 24-hour message volume soaring 41,400%-the highest among all healthcare stocks-while its follower count rose by over 7%.

The sentiment score for EVGN ended at 'extremely bullish' (99/100), reaching its peak this year.

“Keep it strong all day long. Don't let the short scare you. You're holding gold,” said one user, who expects the stock to go to $5.

Israel-based Evogene is a biotech firm that uses AI and computational biology to develop new solutions in agriculture, health, and industry. 

Its platform helps discover and optimize products like seed traits, crop protection chemicals, microbiome-based therapies, and industrial-use crops.

Evogen's stock is up nearly 16% this year.

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