Tevogen Bio Holdings Inc. - TVGN STOCK NEWS

Tevogen Bio Holdings (Nasdaq: TVGN) will join the Russell 3000® Index following the 2024 Russell US Indexes annual reconstitution, effective July 1. This inclusion reflects Tevogen's market capitalization among the 4,000 largest U.S. stocks as of April 30. Membership in the Russell 3000® Index entails automatic inclusion in the Russell 1000® or Russell 2000® Index, enhancing visibility among investment managers. Tevogen Bio focuses on developing off-the-shelf, genetically unmodified T cell therapeutics in oncology, neurology, and virology. CEO Dr. Ryan Saadi anticipates this will benefit both patients and investors.

Tevogen Bio (Nasdaq: TVGN) has secured up to $50 million in financing to boost its R&D and clinical development. The deal includes a $36 million line of credit and a potential $14 million private placement. The financing will support the development of TVGN 489 from Tevogen's ExacTcell™ technology platform and enhance its IP portfolio.

Tevogen recently eliminated $94.9 million in liabilities, positioning itself strategically for growth. The line of credit allows monthly draws up to $1 million at a low interest rate, payable in cash or stock. The private placement activates at a $10 per share threshold, discounted by 30%.

CEO Dr. Ryan Saadi emphasized the importance of this financing for expanding R&D and making personalized T cell therapies more accessible.

Tevogen Bio Holdings, a clinical-stage immunotherapy firm (Nasdaq: TVGN), held its inaugural post-public listing social engagement on May 31, 2024. The event, attended by elected officials, first responders, and U.S. Congress members, aimed to discuss the company's innovative business model and treatments using CD8+ cytotoxic T lymphocytes for diseases like cancer and neurological disorders. The gathering included mayors from various NJ towns, U.S. Congressmen Josh Gottheimer and Robert Menendez, and first responders like Matthew Caliente and Robert Ferreiro. CEO Dr. Ryan Saadi emphasized the societal value of Tevogen's business model and thanked attendees, particularly the patients who shared their experiences.

Tevogen Bio, a clinical-stage specialty immunotherapy company, hosted its first post-public listing social engagement on May 31, 2024. The event, attended by patients, first responders, elected officials, and U.S. Congress members, highlighted the company's efforts in developing CD8+ cytotoxic T cell therapies for infectious diseases, cancers, and neurological disorders. Key attendees included several New Jersey mayors, U.S. Congressmen Josh Gottheimer and Robert Menendez, and first responder representatives. The discussion focused on understanding patient needs and exploring how Tevogen's model could reduce healthcare costs and improve outcomes.

Tevogen Bio has announced that its investigational immunotherapy, TVGN 489, remains effective against FLiRT strains of SARS-CoV-2, the dominant COVID-19 variants. TVGN 489, a Cytotoxic CD8+ T lymphocyte treatment, targets multiple conserved peptides across SARS-CoV-2 proteins, maintaining efficacy despite mutations. A phase I trial showed significant clinical improvement in high-risk patients, with virus reduction over 99% within 14 days and no significant adverse events. Tevogen plans further trials to assess TVGN 489's ongoing efficacy.

Tevogen Bio has reported its Q1 2024 financial results, indicating significant strides in its financial management and operations. The company eliminated $94.9 million in liabilities by converting promissory notes into common stock, resulting in a net income of $11.3 million. Operating cash usage was $2.1 million for the quarter. A new line of credit for up to $36 million has been secured, with an option for an additional $14 million contingent on stock price performance. Non-cash expenses were substantial, primarily driven by $25.2 million in stock-based compensation. Tevogen also incurred a one-time transaction cost of $7.5 million related to its recent business combination. The company remains committed to innovative product development and has made notable progress, including a successful proof-of-concept clinical trial for its T cell platform targeting Long COVID patients.

Tevogen Bio Holdings, a clinical-stage biotech company specializing in immunotherapy, has appointed William Keane as the Vice President of Strategic Initiatives. Keane, a former Chief of Police in Warren, NJ, and a graduate of the FBI National Academy, brings 35 years of leadership experience to the role. He will ensure compliance with regulatory guidelines and assist in procuring lab space to meet operational goals. Keane's appointment is expected to enhance Tevogen's strategic decision-making and further its mission in oncology, neurology, and virology therapeutics development.

Tevogen Bio Holdings Inc. has secured up to $50 million in financing to advance its ExacTcell platform and further clinical trials. The financing supports ongoing research and development efforts, including expanding clinical trials for TVGN 489 in oncology, neurology, and virology. The capital will also aid in starting new trials for virally induced cancers and multiple sclerosis. Dr. Ryan Saadi, Tevogen Bio's CEO, expressed gratitude for the support of existing shareholders, emphasizing the company's commitment to providing affordable T cell therapies for a wide range of patients.

Tevogen Bio announced its full-year 2023 financial results, highlighted its ExacTcell platform success, and upcoming operational objectives. The company aims to acquire a cell therapy manufacturing facility, expand clinical trials, and address Long COVID treatment. Tevogen Bio reported positive POC results for TVGN 489, showcasing safety and efficacy. The company is in discussions to secure manufacturing facilities, bolster research and development capabilities, and seek FDA approval for new clinical trials. Tevogen Bio is evaluating funding options to support growth plans, emphasizing favorable financing terms and equity control. Operating expenses for 2023 were $8.8 million, with significant liabilities converted to common stock.