Tevogen Bio Holdings (TVGN) AI Stock Analysis

• Market Cap: $56.51M
• Dividend Yield: N/A
• Average Volume (3M): 557.82K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.05
• Revenue Growth: N/A
• EPS Growth: -234.46%
• Country: US
• Employees: 18
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.03
• Shares Outstanding: 201,522,280
• 10 Day Avg. Volume: 531,944
• 30 Day Avg. Volume: 557,817
• PEG Ratio: >-0.01
• Price to Book (P/B): -22.64
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -12.59
• Enterprise Value/Market Cap: 1.11
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -119.55
• Enterprise Value/Ebitda: -2.07
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $0.27 ▼(-16.56% Downside)

The score is driven primarily by very weak financial performance (no revenue, ongoing losses, negative free cash flow, and negative equity), which outweighs the benefit of lower debt. Technicals add further pressure with a strong downtrend and negative MACD, while valuation metrics offer limited support due to a negative P/E and no dividend yield.

Positive Factors

Proprietary CTL Platform

Tevogen’s proprietary off-the-shelf CD8+ cytotoxic T lymphocyte platform is a durable strategic asset. A validated platform can enable faster program expansion across oncology and infectious diseases, support scalable manufacturing and reduce per-product time-to-clinic, strengthening long-term competitive positioning.

Debt Reduction

The large reduction in debt materially lowers solvency and refinancing risk, improving financial flexibility. With less leverage the company has greater optionality to fund clinical programs or negotiate partnerships without high interest burdens, which supports longer-term program continuity.

Cash-earnings Alignment

FCF closely tracking net income indicates losses are cash-based rather than accounting distortions, improving predictability of cash burn. Transparent cash flow dynamics make planning financings and milestones more reliable, aiding management’s ability to sequence programs and allocate capital.

Negative Factors

No Revenue

The absence of revenue means the business remains entirely pre-commercial and dependent on external funding. Persistent large net losses (TTM ≈ $30.8M) create a structural requirement for future financing, increasing dilution risk and making long-term program funding contingent on capital markets or partnerships.

Negative Equity & Small Asset Base

Negative stockholders’ equity and limited total assets limit balance-sheet resilience and borrowing capacity. This structural weakness constrains the company’s ability to raise secured financing, increases creditor scrutiny, and reduces margin for adverse clinical or funding setbacks over the medium term.

Rising Cash Burn

Persistently negative operating cash flow and a sharp deterioration in free cash flow signal rising cash burn. Structurally higher expenditures without revenue heighten dependency on external capital, risking program delays or cuts if funding costs rise or markets tighten over the next several quarters.

Tevogen Bio Holdings Business Overview & Revenue Model

Company Description

Tevogen Bio Holdings Inc. operates as a clinical-stage biotechnology company that develops off-the-shelf precision T cell therapeutics in virology, oncology, and neurology. Its lead investigational precision T cell product, TVGN 489, is designed to address the unmet need of acute-risk COVID-19 patients, as well as a subset of patients suffering from long COVID. The company is based in Warren, New Jersey.

How the Company Makes Money

Tevogen Bio Holdings generates revenue primarily through the development and commercialization of its proprietary immunotherapy products. The company's revenue model includes income from product sales, licensing agreements, and strategic partnerships with pharmaceutical companies and research institutions. Additionally, Tevogen Bio may receive funding through grants and collaborations aimed at advancing its research initiatives. As the company progresses through clinical trials and secures regulatory approvals, sales of approved therapies are expected to be a significant revenue stream. Strategic alliances and partnerships also play a crucial role in expanding market reach and driving earnings.

Tevogen Bio Holdings Financial Statement Overview

Summary

Financial performance is very weak: no reported revenue, sizable ongoing losses, and persistent negative operating/free cash flow. Debt has fallen sharply versus 2023, but negative stockholders’ equity and continued cash burn keep financing risk elevated.

Income Statement

Profitability is very weak across the period, with no revenue reported in both annual results and TTM (Trailing-Twelve-Months). Losses remain substantial (TTM net loss of about $30.8M), and TTM gross profit is negative, indicating the cost base is not yet supported by commercial sales. While net loss improved versus 2024 (about $10.1M loss) and 2023 (about $60.5M loss), the business still shows consistently negative operating results and highly volatile margins, which keeps the income statement score low.

Balance Sheet

The balance sheet is pressured by negative stockholders’ equity in every period shown (TTM equity around -$7.8M), which is a key financial risk signal. Debt has come down dramatically from 2023 (about $95.4M) to TTM (about $7.5M), which is a notable improvement and helps reduce solvency stress. However, total assets remain small (TTM about $4.5M) relative to the ongoing losses and negative equity position, limiting financial flexibility.

Cash Flow

Cash generation remains weak with persistently negative operating cash flow and negative free cash flow (TTM operating cash flow about -$13.2M; free cash flow about -$13.2M). Free cash flow has deteriorated versus 2024 (decline of ~116% in TTM versus the prior annual period), indicating rising cash burn. A positive offset is that free cash flow roughly tracks net income (free cash flow to net income near 1.0), suggesting losses are largely reflected in cash rather than being masked by accounting adjustments—however, the absolute level of cash burn remains the dominant concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-526.96K	-403.58K	-378.36K	0.00	0.00
EBITDA	-30.37M	-13.14M	-58.89M	4.41M	-14.99M
Net Income	-30.85M	-10.11M	-60.48M	4.41M	-15.60M
Balance Sheet
Total Assets	4.49M	3.46M	5.51M	7.74M	7.66M
Cash, Cash Equivalents and Short-Term Investments	1.04M	1.28M	1.05M	5.48M	7.12M
Total Debt	7.53M	2.89M	95.42M	40.01M	23.48M
Total Liabilities	12.32M	10.14M	99.93M	41.69M	24.15M
Stockholders Equity	-7.82M	-6.67M	-94.43M	-33.95M	-16.49M
Cash Flow
Free Cash Flow	-13.19M	-12.00M	-8.30M	-9.13M	-5.38M
Operating Cash Flow	-13.19M	-12.00M	-8.17M	-8.66M	-5.27M
Investing Cash Flow	0.00	0.00	-133.00K	-479.04K	-109.73K
Financing Cash Flow	11.90M	12.23M	3.87M	7.50M	12.50M

Tevogen Bio Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.32
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TVGN, the sentiment is Negative. The current price of 0.32 is below the 20-day moving average (MA) of 0.33, below the 50-day MA of 0.37, and below the 200-day MA of 0.81, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 33.26 is Neutral, neither overbought nor oversold. The STOCH value of 15.91 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TVGN.

Tevogen Bio Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NVCT	54 Neutral	$216.70M	-6.41	-158.88%	―	―	-16.26%
STTK	53 Neutral	$243.63M	-3.78	-57.84%	―	-84.46%	33.32%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
NKTX	47 Neutral	$145.61M	-1.48	-26.69%	―	―	25.84%
CCCC	47 Neutral	$183.17M	-1.13	-59.98%	―	-10.57%	1.98%
TVGN	41 Neutral	$56.51M	-1.58	―	―	―	-234.46%

Tevogen Bio Holdings Corporate Events

Tevogen Bio Explores Potential One-Time Special Cash Dividend

On January 30, 2026, Tevogen Bio Holdings announced that its Board of Directors plans to evaluate the potential declaration of a one-time special cash dividend to shareholders, contingent on the company achieving future financial milestones such as revenue and earnings targets. Any distribution would depend on Tevogen’s financial performance, capital needs, compliance with solvency requirements under Delaware law, and a final Board determination that a dividend represents the best use of capital at that time, and the company cautioned that there is no assurance a dividend will be declared, nor any certainty regarding its timing or size.

The most recent analyst rating on (TVGN) stock is a Sell with a $0.33 price target. To see the full list of analyst forecasts on Tevogen Bio Holdings stock, see the TVGN Stock Forecast page.