Tevogen Bio Holdings (now Tevogen Inc.) gets two Nasdaq deficiency notices on market value

Tevogen Bio Holdings Inc. said it received two Nasdaq deficiency notices in April 2026. Both letters say the company no longer meets a continued listing requirement for the Nasdaq Global Market, and both concern the market value of its stock. The company disclosed the notices in a Form 8-K filed April 22, 2026, signed by Chief Executive Officer Ryan Saadi.

The two notices

The first letter arrived on April 16, 2026, from the Listing Qualifications Department of The Nasdaq Stock Market LLC. Nasdaq said the company no longer meets its $50 million minimum market value of listed securities requirement under Nasdaq Listing Rule 5450(b)(2)(A). The finding rests on the market value of the company's listed securities over the previous 30 consecutive business days.

The second letter arrived on April 17, 2026. It said the company no longer meets Nasdaq's $15 million minimum market value of publicly held shares requirement under Nasdaq Listing Rule 5450(b)(2&3)(C). That finding rests on the market value of the publicly held shares over the same 30 business days.

The company says neither notice has an immediate effect on its listing or on trading. The common stock trades as TVGN. The cover page also lists warrants exercisable for $575 per share of common stock, which trade as TVGNW on Nasdaq.

The deadlines

Nasdaq gave the company 180 calendar days to regain compliance with each requirement. The deadline for the listed securities requirement is October 13, 2026. The deadline for the publicly held shares requirement is October 14, 2026.

To regain compliance before either date, the company must close at or above the relevant threshold for a minimum of 10 consecutive business days, and generally not more than 20 consecutive business days. Nasdaq's staff would then notify the company in writing that it has regained compliance with that requirement. The two tests run separately, and the 8-K does not state the company's current market value or the number of days it has met either threshold.

What the company says it will do

The company says it intends to monitor the market value of its listed securities and publicly held shares actively. It may evaluate options for regaining compliance and may apply to transfer its listing to The Nasdaq Capital Market. The filing does not describe a financing, a share consolidation or any other step planned to lift the market value. It then says there can be no assurance the company will take any specific action, regain compliance with either requirement or otherwise maintain compliance with Nasdaq's listing rules.

About the company

The company's annual report, signed on March 31, 2026, describes Tevogen as a clinical-stage specialty immunotherapy company. It builds off-the-shelf T cell therapies from CD8+ cytotoxic T lymphocytes, which the report describes as killer T cells, for infectious diseases, cancers and other disorders. The company calls its platform ExacTcell and describes it as a set of processes and methodologies to develop, enrich and expand single human leukocyte antigen restricted cytotoxic T cell therapies.

Its first clinical product, TVGN 489, is being developed for COVID-19 in immunocompromised people and the high-risk elderly, with potential use against the lingering symptoms known as Long COVID. The annual report says the business is highly dependent on that first product candidate. It also warns that ExacTcell is unproven and may not result in marketable products.

The same report names Ryan Saadi as Chief Executive Officer and Chairperson of the Board, and Kirti Desai as Chief Financial Officer. Its signature page lists Jeffrey Feike, Dr. Keow Lin Goh, Dr. Curtis Patton, Susan Podlogar and Victor Sordillo as directors.

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