Short answer

Tevogen Bio Holdings Inc. (TVGN) filed its fiscal 2024 10-K annual report with the SEC on Apr 2, 2025.

Top risk flagged: Regulatory risk: FDA's evolving framework on allogeneic T cell therapy and AI use, with draft guidance increasing compliance costs and potential delays

FY2024 key financial metrics · XBRL

Source: XBRL data from the Tevogen Bio Holdings Inc. (TVGN) FY2024 10-K on SEC EDGAR. USD.

AI summary of each section, grounded in the filing text

Core business: Clinical-stage immunotherapy developing off-the-shelf, precision allogeneic CD8+ T cell therapies for infectious diseases, cancers, and other disorders
New emphasis on TVGN 489 for COVID-19 and Long COVID, with Phase 1 proof-of-concept trial completed Jan 2023 and pivotal trial planned for B cell malignancy patients
Strategic shift: Completed business combination with Semper Paratus Acquisition Corp in Feb 2024 to become publicly listed as Tevogen Bio Holdings Inc
Notable metric: TVGN 489 progressed from pre-discovery to clinic in 18 months, achieving persistence of infused cells for 6 months and no significant adverse events
Unique fact: ExacTcell technology delivers off-the-shelf T cell therapies that are not genetically modified, aiming to reduce severe side effects seen in CAR-T platforms

Revenue $0, no product sales, consistent with prior year; no expected revenue until product approval and commercialization
Net loss $13.7M in 2024 vs $60.5M in 2023; loss from operations $53.6M in 2024 vs $8.8M; operating expenses rose to $53.6M from $8.8M
Best performing segment: Change in fair value of convertible promissory notes gain $48.5M in 2024 vs loss $50.4M in 2023; Worst: R&D expenses surged to $31.0M from $4.4M mainly due to stock-based compensation
Cash flow: Operating cash outflow $12.0M in 2024 vs $8.2M; Financing inflows $12.3M in 2024 vs $4.0M, including $2.0M Series A, $6.0M Series C preferred stock, $1.0M loan draw; Capex minimal
Outlook: Sufficient cash and credit available for 12+ months; plans to expand R&D, manufacturing, commercialization; key risks from clinical development, regulatory approvals, commercialization timing

Regulatory risk: FDA's evolving framework on allogeneic T cell therapy and AI use, with draft guidance increasing compliance costs and potential delays
Geopolitical/macro risk: Reliance on $8.0 million grant funding expected Q2 2025 from KRHP LLC critical for liquidity amid no secured additional financing
Operational risk: Dependence on procuring consistent, virus-free third-party donor T cells impacting manufacturing reliability and supply chain stability
Competitive risk: Novel immunotherapy approach faces risk of market share loss to established and emerging therapies with better clinical trial histories
Financial risk: Significant $8.0 million capital need with limited operating history and no commercial products, risking dilution or operational downscaling if additional funding unavailable

Generated from the filing text; verify against the original. How to read a 10-K

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