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Tevogen announced continued progress across its strategic acquisition initiatives intended to complement its existing business and support long-term financial self-sufficiency, which, if consummated, could realize approximately $100M in combined annual revenue. These initiatives include the company's previously announced evaluation of a contract research organization, along with additional strategic acquisition opportunities aligned with Tevogen's broader healthcare platform. Tevogen believes these and other strategic acquisition initiatives could support the Company's evolution into a revenue-generating healthcare enterprise comprised of Tevogen Bio, its biotechnology arm; Tevogen.AI, its technology arm; and, subject to completion of proposed transactions, a healthcare services arm that may include management services and contract research operations. "Capital discipline and preserving the integrity of our capital structure are core priorities for us," said Ryan Saadi, MD, MPH, Founder and CEO of Tevogen Bio. "Our strategic objective is to build a financially self-sufficient healthcare enterprise with the financial strength to support operations, advance growth initiatives, and create long-term value through revenue generation. The acquisition opportunities we are evaluating represent an initial phase of that strategy, and any related capital allocation decisions will continue to be guided by strategic fit, long-term value creation, and disciplined stewardship of Tevogen's capital structure." The proposed transactions remain subject to, among other things, completion of due diligence, negotiation and execution of definitive documentation, required approvals, and satisfaction of customary closing conditions. There can be no assurance that any such transaction will be consummated.

In a letter to shareholders, CEO Ryan Saadi said, in part, "We have delivered consistent operational improvement while continuing to advance our strategic growth priorities. Loss from operations declined 51% from $53.6M in full year 2024 to $26.1M in full year 2025. This progress continued in the first quarter of 2026, with loss from operations decreasing to $5.4M, a 48% improvement compared to the same period in 2025. During this same period, we advanced several important initiatives, including the establishment of the Tevogen.AI effort and the continued expansion of our cell therapy product pipeline. We have pursued these priorities while remaining mindful of shareholder equity and avoiding unnecessary dilution through disciplined capital allocation. As previously disclosed, we have also initiated the evaluation of potential revenue-generating acquisitions that, if consummated, may support positive cash flow generation and further diversify Tevogen's business. Any future use of authorized shares would continue to be evaluated through a disciplined return-on-investment framework focused on long-term shareholder value creation. We are working towards aligning the Company's long-term incentives with performance milestones, including revenue generation, reinforcing our commitment to execution and shareholder alignment. Tevogen's operating model is built on the principle that improving patient affordability and creating long-term shareholder value can coexist. We believe this approach may extend beyond our current portfolio to future healthcare solutions as we continue building a more accessible, efficient, and sustainable healthcare enterprise."

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