Tevogen Bio Holdings Files Q1 2024 10-Q

TL;DR

Tevogen Bio Holdings Q1 2024 10-Q filed. Financials and stock details updated.

AI Summary

Tevogen Bio Holdings Inc. filed its Q1 2024 10-Q report on May 28, 2024, covering the period ending March 31, 2024. The company, formerly Semper Paratus Acquisition Corp, is involved in biological products. Key financial details and stock information, including common stock and warrants, are presented for the reporting period and comparative dates.

Why It Matters

This filing provides investors with an update on Tevogen Bio Holdings' financial position and operational status for the first quarter of 2024, crucial for understanding the company's performance and future prospects.

Risk Assessment

Risk Level: medium — As a biotechnology company, Tevogen Bio Holdings is subject to inherent risks related to research, development, regulatory approvals, and market adoption of its products.

Key Numbers

• 0.0001 — Par Value Per Share (For common stock as of March 31, 2024.)
• 11.50 — Warrant Exercise Price (Per share for warrants exercisable for common stock.)

Key Players & Entities

• Tevogen Bio Holdings Inc. (company) — Filer of the 10-Q report.
• Semper Paratus Acquisition Corp (company) — Former name of Tevogen Bio Holdings Inc.
• 20240331 (date) — End of the reporting period for the 10-Q.
• 20240528 (date) — Date the 10-Q was filed.

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share TVGN The Nasdaq
• $11.50 — sable for one share of Common Stock for $11.50 per share TVGNW The Nasdaq Stock Ma

Filing Documents

• form10-q.htm (10-Q) — 769KB
• ex31-1.htm (EX-31.1) — 15KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 5KB
• 0001493152-24-021650.txt ( ) — 4441KB
• tvgn-20240331.xsd (EX-101.SCH) — 41KB
• tvgn-20240331_cal.xml (EX-101.CAL) — 51KB
• tvgn-20240331_def.xml (EX-101.DEF) — 195KB
• tvgn-20240331_lab.xml (EX-101.LAB) — 348KB
• tvgn-20240331_pre.xml (EX-101.PRE) — 281KB
• form10-q_htm.xml (XML) — 530KB

– Financial Information

Part I – Financial Information 1

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 1

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 14

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 25

Controls and Procedures

Item 4. Controls and Procedures. 25

– Other Information

Part II – Other Information 26

Legal Proceedings

Item 1. Legal Proceedings. 26

Risk Factors

Item 1A. Risk Factors. 26

Other Information

Item 5. Other Information. 26

Exhibits

Item 6. Exhibits. 27

Signatures

Signatures 28 i PART I – FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) Tevogen Bio Holdings Inc. UNAUDITED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 Assets Current assets: Cash $ 1,317,900 $ 1,052,397 Prepaid expenses and other assets 923,202 670,582 Due from related party 158,819 — Total current assets 2,399,921 1,722,979 Property and equipment, net 418,099 458,651 Right-of-use assets - operating leases 412,111 469,862 Deferred transaction costs — 2,582,870 Other assets 133,276 271,141 Total assets $ 3,363,407 $ 5,505,503 Liabilities and stockholders' deficit Current liabilities: Accounts payable $ 5,211,899 $ 3,418,378 Accrued expenses and other liabilities 1,564,834 1,096,450 Operating lease liabilities 260,583 252,714 Notes payable 1,651,000 — Convertible promissory notes — 80,712,000 Due to related party 250,000 — Total current liabilities 8,938,316 85,479,542 Convertible promissory notes — 14,220,000 Operating lease liabilities 166,788 234,858 Derivative warrant liabilities 60,973 — Total liabilities 9,166,077 99,934,400 Stockholders' deficit Series A Preferred Stock, $ 0.0001 par value; 2,000 shares authorized; 500 shares issued and outstanding as of March 31, 2024 2,799,990 — Series B Preferred Stock, $ 0.0001 par value; 3,613 shares authorized; 3,613 shares issued and outstanding as of March 31, 2024 3,613,000 — Preferred Stock 3,613,000 — Common stock, $ 0.0001 par value; 800,000,000 shares authorized; 164,614,418 and 119,999,989 shares issued and outstanding at March 31, 2024 and December 31, 2023 16,462 12,000 Additional paid-in capital 76,160,773 5,216,840 Accumulated deficit ( 88,392,895 ) ( 99,657,737 ) Total stockholders' deficit ( 5,802,670 ) ( 94,428,897 ) Total liabilities and stockholders' deficit $ 3,363,407 $ 5,505,503 See accompanying notes to the unaudited consolidated

View Full Filing

View this 10-Q filing on SEC EDGAR