- Lead investor confirmed his intention to maintain his current shareholdings.
- Company does not anticipate using more than 1% of our authorized shares, including placement through the ATM, over the next 12 months or until the company becomes cash-flow positive.
- Approximately only one-fifth of total shares outstanding are in the tradable float when accounting for Tevogen’s lead investor, directors and named executive officers.
- Company prioritizing long-term stock-based incentive program aligned with company milestones.
- Board of Directors continues to evaluate the potential declaration of a one-time special cash dividend to shareholders.
- Company continues to evaluate acquisitions that could generate over $50 million in combined annual revenue.
-
Company exploring avenues to better reflect value of assets.
WARREN, N.J., March 13, 2026 (GLOBE NEWSWIRE) — Tevogen (“Tevogen Bio Holdings Inc.” or “Company”) (Nasdaq: TVGN) today provided a strategic update regarding its approach to capital management and the continued commitment of its foundational stakeholders.
Dr. Manmohan Patel, MD, lead investor in Tevogen, commented, “I continue to have strong conviction in Tevogen’s proprietary ExacTcell™ platform and its potential to deliver meaningful medical innovation. As the Company advances its diversified growth strategy and moves toward operational maturity, I intend to maintain my current shareholdings as a reflection of my long-term confidence in the team, the technology, and the path ahead.”
“Tevogen was built on the principle of delivering affordable medical innovations through a highly capital-efficient business model,” said Dr. Ryan Saadi, Founder and CEO of Tevogen Bio. “Based on our current business plan and growth strategy, we do not anticipate utilizing more than one percent of our total authorized shares, including placement through the ATM, over the next twelve months or until the company becomes cash-flow positive.”
Approximately only one-fifth of total shares outstanding are in the tradable float when accounting for Tevogen’s lead investor, directors and named executive officers.
Consistent with the January 2026 update, Tevogen continues to prioritize a long-term stock-based incentive program that is strictly aligned with company milestones, including revenue and clinical targets, rather than traditional time-based vesting.
Board of Directors continues to evaluate the potential declaration of a one-time special cash dividend to shareholders, contingent upon the achievement of specified financial milestones to be determined at a future date, which could include revenue and earnings targets.
The Company continues to evaluate acquisitions that complement its immunotherapy and artificial intelligence platforms. If completed, these businesses would operate as Tevogen subsidiaries and could generate over $50 million in combined annual revenue.
GAAP accounting may not fully reflect the value of Company assets. Tevogen’s intellectual property, proprietary platforms, AI technologies, strategic partnerships, discovery lab, and manufacturing facility under development remain central to long-term value creation. Independent valuations in 2022 estimated the company at over $4 billion prior to going public. The company is exploring ways to better reflect these assets.
About Tevogen
Tevogen is a socially integrated healthcare enterprise built on the principles of affordability, efficiency, and scientific rigor. The company leverages artificial intelligence and precision T cell therapy platforms, a patient-first and cost-disciplined operating model, and engagements with global technology leaders to support the development of advanced, life-saving therapies across multiple therapeutic areas and scalable solutions for the broader healthcare system.
Tevogen Bio, the company’s lead initiative, has completed a proof-of-concept clinical trial demonstrating the potential of its single-HLA-restricted, genetically unmodified allogeneic T cells. Tevogen Bio’s pipeline spans virology, oncology, and neurology, with programs built on the company’s proprietary ExacTcell™ platform.
Tevogen.AI is designed to transform drug development by accelerating target detection, helping reduce failure rates, and supporting optimized clinical trial design through proprietary predictive technologies. The platform utilizes cloud and data services from leading technology providers, including Microsoft and Databricks, to advance its long-term ambition to predict the proteome for any given protein–HLA combination, enabling rapid and cost-efficient therapeutic discovery.
Tevogen is exploring future strategic initiatives that may include domestic generics, biosimilars, medical devices, and innovative insurance solutions for healthcare providers. Together, these programs reflect Tevogen’s mission to advance sustainable innovation and broaden patient access through a faster, more efficient, and more equitable healthcare model.
Forward Looking Statements
This press release contains certain forward-looking statements, including without limitation statements relating to: the potential transactions and the potential benefits of the transactions; Tevogen’s plans for its research and manufacturing capabilities; expectations regarding future growth; expectations regarding the healthcare and biopharmaceutical industries; and Tevogen’s development of, the potential benefits of, and patient access to its product candidates for the treatment of infectious diseases and cancer. 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: risks inherent in diligence and negotiation of the proposed transactions; the risk that the transactions may not be consummated on favorable terms or at all; the risk that the expected benefits of the transactions may not be realized on a timely basis or at all; 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; 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; that Tevogen will need to raise additional capital to fully realize its business plans; risks related to the ability to develop, license or acquire new therapeutics; the risk of regulatory lawsuits or proceedings relating to Tevogen’s business; uncertainties inherent in the execution, cost, and completion of preclinical studies and clinical trials; risks related to regulatory review, approval and commercial development; risks associated with intellectual property protection; Tevogen’s limited operating history; and those factors discussed or incorporated by reference in Tevogen’s most recent Annual Report on Form 10-K and subsequent 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.
Contact
Tevogen Bio Communications
T: 1 877 TEVOGEN, Ext 701
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/62b98121-9ad5-4ec7-8275-9541ff0332ae
