Full Press Release Details
Board to Evaluate Potential One-Time Special Cash Dividend to Shareholders
N.J., Tevogen Bio Holdings Inc. ("Tevogen" or the "Company") (Nasdaq: TVGN) today announced that
its Board of Directors has expressed its intention 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
consideration of a special dividend would be subject to the Company's future financial performance, capital requirements, compliance
with applicable solvency laws, including under the Delaware General Corporation Law, and final approval by the Board of Directors after
a determination that a dividend would be the best use of Company capital at the time. No assurance can be given that a dividend will
be declared, nor as to the timing or amount of any such dividend.
updates will be provided as appropriate and in accordance with applicable disclosure requirements.
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.
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.
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.
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.
press release contains certain forward-looking statements, including without limitation statements relating to: Tevogen's plans
for a future one-time cash dividend and related contingencies; 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.
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: 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 Annual Report on Form 10-K and subsequent filings
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.
T: 1 877 TEVOGEN, Ext 701