M&A - Tevogen Bio Holdings Inc.

Form Type: 10-Q

Filing Date: 2025-05-14

Corporate Action: Merger

Type: Update

Accession Number: 000164117225010395

Filing Summary: Tevogen Bio Holdings Inc. filed its quarterly report for the period ended March 31, 2025. The company reported total current assets of $3,077,807 and total liabilities of $11,793,274. For the three months ended March 31, 2025, Tevogen experienced an operating loss of $10,356,347, with total operating expenses of $10,356,347 primarily due to increased research and development costs of $3,195,068 and general and administrative expenses of $7,161,279. The company had a net loss of $10,367,061, attributing losses primarily to merger transaction costs from the previous fiscal period. The merger, finalized on February 14, 2024, involved a business combination with Semper Paratus Acquisition Corporation, resulting in Tevogen Bio becoming a wholly-owned subsidiary. The report highlights significant changes in stockholders' equity and a cautious liquidity position, with cash reserves of $1,974,932 as of March 31, 2025.