Tevogen Bio Holdings' experimental therapy, TVGN-489, has shown promising results in Phase I trials, demonstrating safety, tolerability, and rapid viral clearance in high-risk COVID-19 patients, with nasal PCR tests indicating over 88% viral elimination by Day 4 and more than 99% by Day 14.

The therapy also elicited a durable immune response, with cytotoxic T lymphocytes detected for up to six months, and remained effective against viral mutations, including the XFG SARS-CoV-2 variant.

Additionally, two cancer patients treated with TVGN-489 were able to undergo stem cell transplants without COVID-19 reactivation or complications, highlighting its potential in viral eradication.

The company envisions applications for both acute COVID-19 and Long-COVID cases, especially those with persistent viral reservoirs.

Tevogen has announced a valuation estimate of $9 billion to $11 billion for TVGN-489, based on US revenue potential from oncology and specialty care, but this does not include broader platform value.

The valuation reflects only U.S. market potential over five years and does not account for the broader value of the ExacTcell platform or international markets.

Tevogen plans to update valuations as it advances its pipeline, which includes additional assets like TVGN 930 for Epstein-Barr Virus-associated malignancies, projected to generate about $3.5 billion in five-year revenue.

The valuation is primarily driven by US revenue prospects, with plans to update figures as the company develops and commercializes more assets.

Despite promising early results, the company acknowledges uncertainties related to market performance, regulatory hurdles, and the need for additional capital, which could impact the product's success.

Tevogen has seen increased institutional ownership, notably from Vanguard and BlackRock, and secured $1 million in grant funding from KRHP LLC to develop its AI-driven drug discovery platform, Tevogen.AI.

The company’s forward-looking statements highlight growth plans and industry expectations but also emphasize the inherent risks and uncertainties in biopharmaceutical development.

While early-stage, the company plans to provide further updates on its valuation as it progresses through clinical trials and regulatory processes.