WARREN, N.J., Nov. 03, 2025 (GLOBE NEWSWIRE) -- Tevogen (“Tevogen Bio Holdings Inc.” or “Company”) (Nasdaq: TVGN), today issued a statement to provide clarity regarding its accumulated deficit reported under U.S. GAAP accounting standards in recent SEC filings.

GAAP rules are designed for consistency and comparability across industries, but they can understate the value of high-growth biotechnology assets still under development. To offer investors a more comprehensive understanding of Tevogen’s financial position and commercial opportunity, the Company plans to share a clearly labeled, fully reconciled set of non-GAAP metrics following the filing of its Form 10-Q for the third quarter of 2025, while maintaining full compliance with SEC requirements.

“The company has raised total cash of under $42 million since inception to June 30, 2025,” said Kirti Desai, Chief Financial Officer of Tevogen Bio. “However, the financial statements presented under GAAP for the quarter ended June 30, 2025, show an accumulated deficit of $129 million. If you back out the cash balance, the total cash loss to date is a little over $41 million, and the remaining balance represents non-cash expenses of approximately $88 million. This is further offset by a credit of $110 million in Additional Paid-in Capital. When you factor in the capital raise amount of over $8.8 million, the total stockholders’ deficit as of June 30, 2025, is under $9.5 million.”

This commentary is intended to provide investors and the broader financial community with context on the widely publicized accumulated deficit figure of $129 million and highlight the distinction between cash and non-cash components within Tevogen’s reported results. The Company is committed to providing investors with additional explanatory information to evaluate business results.

Forward Looking Statements

This press release contains certain forward-looking statements, including without limitation statements relating to: 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: that Tevogen will need to raise additional capital to execute its business plan, which may not be available on acceptable terms 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; 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.

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 Communications
T: 1 877 TEVOGEN, Ext 701
Communications@Tevogen.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/01b14317-511d-492b-b545-b95a57a4ba2c