Tevogen Bio Oncology Reports Top-Line Revenue Forecast of $1 Billion in Launch Year and Cumulative 5-Year Estimate Between $10 Billion and $14 Billion; Forecasts for Non-Oncology Therapeutic Areas to Follow
17 Octobre 2024 - 3:32PM
Tevogen Bio (“Tevogen” or “Tevogen Bio Holdings Inc.”) (Nasdaq:
TVGN), a clinical-stage specialty immunotherapy biotech developing
off-the-shelf, genetically unmodified T cell therapeutics to treat
infectious disease and cancers, today announced its top-line
revenue forecast for its oncology pipeline, projecting $1 billion
in revenue in its launch year and a cumulative 5-year estimate of
between $10 billion and $14 billion. This forecast reflects the
company’s unique, faster, and cost-efficient drug development model
which has the potential to serve as a blueprint to ensure
sustainable medical innovation for years to come.
"At Tevogen, we strive to turn our vision into
reality ensuring our commitment translates into tangible results.
Our priority is the well-being of cancer patients. With compelling
evidence that SARS-CoV-2 remains a serious threat to those
undergoing immunosuppressive treatments and chemotherapy, our first
pivotal study with TVGN 489 is being designed specifically to help
these vulnerable patients combat the infection," commented Sadiq
Khan, Chief Commercial Officer.
Pipeline
- TVGN 489:
- Treatment of SARS-CoV-2 infection in patients with B cell
hematologic cancer [part of Tevogen Bio Oncology forecast]
- Treatment of SARS-CoV-2 infection in patients with other
cancers [part of Tevogen Bio Oncology forecast]
- SARS-CoV-2 infection in patients under treatment for rheumatoid
arthritis
- SARS-CoV-2 infection in patients under treatment for and
psoriatic arthritis
- Treatment of Long COVID
- TVGN 920: Cervical cancer prevention
- TVGN 930: EBV-associated lymphomas
- TVGN 960: Mouth and throat cancer
- TVGN 601: Multiple sclerosis
Forward Looking Statements
This press release contains certain forward-looking
statements, including without limitation statements relating to:
expectations regarding the healthcare and biopharmaceutical
industries; Tevogen’s development of, the potential benefits of,
and patient access to its product candidates for the treatment of
infectious diseases, cancer and neurological disorders, including
TVGN 489 for the treatment of COVID-19 and Long COVID; Tevogen’s
ability to develop additional product candidates, including through
use of Tevogen’s ExacTcell platform; the anticipated benefits of
ExacTcell; expectations regarding Tevogen’s future clinical trials;
and Tevogen’s ability to generate revenue in the future.
Forward-looking statements can sometimes be identified by words
such as “may,” “could,” “would,” “expect,” “anticipate,”
“possible,” “potential,” “goal,” “opportunity,” “project,”
“believe,” “future,” and similar words and expressions or their
opposites. These statements are based on management’s expectations,
assumptions, estimates, projections and beliefs as of the date of
this press release and are subject to a number of factors that
involve known and unknown risks, delays, uncertainties and other
factors not under the company’s control that may cause actual
results, performance or achievements of the company to be
materially different from the results, performance or other
expectations expressed or implied by these forward-looking
statements.
Factors that could cause actual results,
performance, or achievements to differ from those expressed or
implied by forward-looking statements include, but are not limited
to: that Tevogen will need to raise additional capital to execute
its business plan, which may not be available on acceptable terms
or at all; the effect of the recent business combination with
Semper Paratus Acquisition Corporation (the “Business Combination”)
on Tevogen’s business relationships, operating results, and
business generally; the outcome of any legal proceedings that may
be instituted against Tevogen; changes in the markets in which
Tevogen competes, including with respect to its competitive
landscape, technology evolution, or regulatory changes; changes in
domestic and global general economic conditions; the risk that
Tevogen may not be able to execute its growth strategies or may
experience difficulties in managing its growth and expanding
operations; the risk that Tevogen may not be able to develop and
maintain effective internal controls; costs related to the Business
Combination and the failure to realize anticipated benefits of the
Business Combination; the failure to achieve Tevogen’s
commercialization and development plans and identify and realize
additional opportunities, which may be affected by, among other
things, competition, the ability of Tevogen to grow and manage
growth economically and hire and retain key employees; the risk
that Tevogen may fail to keep pace with rapid technological
developments to provide new and innovative products and services or
make substantial investments in unsuccessful new products and
services; the ability to develop, license or acquire new
therapeutics; that Tevogen will need to raise additional capital to
execute its business plan, which may not be available on acceptable
terms or at all; the risk of regulatory lawsuits or proceedings
relating to Tevogen’s business; uncertainties inherent in the
execution, cost, and completion of preclinical studies and clinical
trials; risks related to regulatory review, approval and commercial
development; risks associated with intellectual property
protection; Tevogen’s limited operating history; and those factors
discussed or incorporated by reference in Tevogen’s Annual Report
on Form 10-K and subsequent filings with the SEC.
You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. Tevogen undertakes no obligation to update any
forward-looking statements, except as required by applicable
law.
Contacts
Tevogen Bio Communications
T: 1 877 TEVOGEN, Ext 701
Communications@Tevogen.com
Tevogen Bio (NASDAQ:TVGN)
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