Tevogen Bio Holding Inc. (“Tevogen” or “Tevogen Bio”) (Nasdaq:
TVGN), a clinical-stage specialty immunotherapy biotech pioneer
developing off-the-shelf, genetically unmodified T cell
therapeutics in oncology, neurology, and virology, today released a
letter to stockholders highlighting recent achievements, growth
plans, and consideration of a potential share buyback.
Letter to Stockholders
We are pleased to share our progress and next steps that
underscore our commitment to advancing science to benefit patients
and physicians while supporting our stockholder’s investment.
Our lead product candidate TVGN 489, an investigational
allogeneic SARS-CoV-2 specific Cytotoxic CD8+ T lymphocyte (CTL)
immunotherapy, is progressing for the treatment of acute COVID-19
in vulnerable cancer patients. Phase I clinical trial results of
TVGN 489, have recently been published by Blood Advances, a peer
reviewed journal. A trial aimed at identifying genetic
characteristics, potentially leading to Long COVID, has been
prepared and could serve as a basis for a later treatment
trial.
As an oncology company, we continue to advance in the
development of treatments for virally induced cancers including
TVGN 920 for cervical cancer, TVGN 960 for mouth and throat cancer,
and TVGN 930 for EBV-associated lymphomas. The annual incidence of
these types of cancers reaches approximately one million cases in
the United States.
For insight from our R&D leadership we encourage you to
watch our recent Nasdaq Live from Marketsite interview. The
broadcast can be seen at Tevogen Bio: The Next Frontier of Medicine
| Nasdaq.
We are also happy to share that since its inception, Tevogen.AI
has made strides in its mission to enhance drug discovery through
predictive modeling.
We continue to emphasize our achievements, highlighting that our
cost-effective business model has been instrumental in driving this
level of progress. Independent equity research has initiated
coverage echoing this sentiment.
In light of recent stock performance, we understand the concerns
some of you may have regarding Tevogen Bio's current share price.
We are acutely aware of the situation and our commitment to
improving stockholder value remains steadfast. We are considering
available options, including the potential for a share repurchase,
to enhance the value of your investment.
“We remain committed to transparency and open communication with
our stockholders. We believe that our ongoing efforts and strategic
initiatives will position Tevogen Bio for sustained growth and
success. Thank you for your continued trust and support,” commented
Ryan Saadi, MD, MPH, Founder and CEO, Tevogen Bio.
About Tevogen Bio
Tevogen is a clinical-stage specialty immunotherapy company
harnessing one of nature’s most powerful immunological weapons,
CD8+ cytotoxic T lymphocytes, to develop off-the-shelf, genetically
unmodified precision T cell therapies for the treatment of
infectious diseases, cancers, and neurological disorders, aiming to
address the significant unmet needs of large patient populations.
Tevogen Leadership believes that sustainability and commercial
success in the current era of healthcare rely on ensuring patient
accessibility through advanced science and innovative business
models. Tevogen has reported positive safety data from its
proof-of-concept clinical trial, and its key intellectual property
assets are wholly owned by the company, not subject to any
third-party licensing agreements. These assets include three
granted patents, nine pending US and twelve ex-US pending patents,
two of which are related to artificial intelligence.
Tevogen is driven by a team of highly experienced industry
leaders and distinguished scientists with drug development and
global product launch experience. Tevogen’s leadership believes
that accessible personalized therapeutics are the next frontier of
medicine, and that disruptive business models are required to
sustain medical innovation.
Forward-Looking Statements
This press release contains certain forward-looking statements,
including without limitation statements relating to: Tevogen’s
development of, the potential benefits of, and patient access to
its product candidates for the treatment of infectious diseases,
cancer and neurological disorders, including TVGN 489 for the
treatment of COVID-19 and Long COVID; Tevogen’s ability to develop
additional product candidates, including TVGN 920, TVGN 960 and
TVGN 930; expectations regarding Tevogen’s future clinical trials;
expectations regarding Tevogen.AI; expectations regarding the
healthcare and biopharmaceutical industries; Tevogen’s efforts to
enhance shareholder value; and Tevogen’s consideration of a
potential share repurchase. Forward-looking statements can
sometimes be identified by words such as “may,” “could,” “would,”
“expect,” “anticipate,” “possible,” “potential,” “goal,”
“opportunity,” “project,” “believe,” “future,” and similar words
and expressions or their opposites. These statements are based on
management’s expectations, assumptions, estimates, projections and
beliefs as of the date of this press release and are subject to a
number of factors that involve known and unknown risks, delays,
uncertainties and other factors not under the company’s control
that may cause actual results, performance or achievements of the
company to be materially different from the results, performance or
other expectations expressed or implied by these forward-looking
statements.
Factors that could cause actual results, performance, or
achievements to differ from those expressed or implied by
forward-looking statements include, but are not limited to: the
challenges inherent in increasing shareholder value; uncertainty as
to whether and to what extent Tevogen will pursue a share
repurchase, if at all; the difficulties with and competition in
developing AI technology; potential sales of a substantial number
of Tevogen’s securities in the public market; the ability to regain
and maintain compliance with Nasdaq’s listing requirements; that
Tevogen will need to raise additional capital to execute its
business plan, which may not be available on acceptable terms or at
all; uncertainties inherent in the execution, cost, and completion
of preclinical studies and clinical trials; risks related to
regulatory review, and approval and commercial development; risks
related to the ability to develop, license, or acquire new
therapeutics; the effect of the recent business combination with
Semper Paratus Acquisition Corporation (the “Business Combination”)
on Tevogen’s business relationships, operating results, and
business generally; the outcome of any legal proceedings that may
be instituted against Tevogen related to the Business Combination;
changes in the markets in which Tevogen competes, including with
respect to its competitive landscape, technology evolution, or
regulatory changes; changes in domestic and global general economic
conditions; the risk that Tevogen may not be able to execute its
growth strategies or may experience difficulties in managing its
growth and expanding operations; the risk that Tevogen may not be
able to develop and maintain effective internal controls; costs
related to the Business Combination and the failure to realize
anticipated benefits of the Business Combination; the failure to
achieve Tevogen’s commercialization and development plans, and
identify and realize additional opportunities, which may be
affected by, among other things, competition, the ability of
Tevogen to grow and manage growth economically and hire and retain
key employees; the risk that Tevogen may fail to keep pace with
rapid technological developments to provide new and innovative
products and services or make substantial investments in
unsuccessful new products and services; the risk of regulatory
lawsuits or proceedings relating to Tevogen’s business; risks
associated with intellectual property protection; Tevogen’s limited
operating history; and those factors discussed or incorporated by
reference in Tevogen’s registration statement on Form S-1 filed
with the SEC on June 21, 2024, Annual Report on Form 10-K, and
other filings with the SEC.
You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. Tevogen
undertakes no obligation to update any forward-looking statements,
except as required by applicable law.
Contacts
Tevogen Bio CommunicationsT: 1 877 TEVOGEN, Ext 701
Communications@Tevogen.com
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