Quarterly ResultMay 15, 2026, 05:08 PM
Tevogen Bio Q1 Net Loss Halved to $(5.45)M; Reverse Stock Split
AI Summary
Tevogen Bio Holdings Inc. reported a net loss of $(5.45) million for the first quarter of 2026, a significant improvement from $(10.37) million in the prior year. The company also effected a 1-for-50 reverse stock split in March 2026. Despite reducing operating expenses, Tevogen Bio continues to incur losses and negative cash flows, relying on existing funding and a recent $3.0 million private placement of warrants to the Patel Family in May 2026 to maintain liquidity for the next 12 months. The company is in default on $1.65 million in notes payable.
Key Highlights
- Net loss for Q1 2026 improved to $(5.45) million from $(10.37) million in Q1 2025.
- Net loss per share improved to $(1.61) in Q1 2026 from $(3.25) in Q1 2025.
- Total operating expenses decreased to $5.40 million in Q1 2026 from $10.36 million in Q1 2025.
- Effected a 1-for-50 reverse stock split on March 6, 2026.
- Cash at March 31, 2026, was $692,305, up from $552,372 at December 31, 2025.
- Outstanding balance on loan agreement with Patel Family increased to $6.40 million.
- Company is in default on $1.65 million in notes payable.
- Subsequent to quarter-end, sold $3.0 million in prefunded warrants to Patel Family.
Price Impact
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