By Katherine Hamilton

Tevogen Bio said its total stockholders' deficit is less than $9.5 million, despite including in financial statements that it had an accumulated deficit of $129 million.

The biotechnology company's financial statements presented for the quarter ended June 30 showed a deficit of $129 million, but with certain adjustments, that amount falls below $9.5 million, Chief Financial Officer Kirti Desai said Monday.

Backing out the cash balance, the total cash loss to date is a little over $41 million and the remaining balance represents non-cash expenses of about $88 million. That is further offset by a credit of $110 million in additional paid-in capital. The company is also factoring in a capital raise amount of more than $8.8 million.

Tevogen had raised total cash of under $42 million as of June 30.

Tevogen plans to share a clearly labeled, fully reconciled set of adjusted financial metrics following its third-quarter filing, it said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

November 03, 2025 15:16 ET (20:16 GMT)

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