Tevogen regains compliance with Nasdaq Global Market listing rules

The notice

Tevogen Inc. (Nasdaq: TVGN) said on September 30, 2026 that it received written notice from The Nasdaq Stock Market LLC on September 29 confirming that it had regained compliance with the $50 million minimum market value of listed securities requirement. The rule is Nasdaq Listing Rule 5450(B)(2)(A), and it applies to continued listing on The Nasdaq Global Market.

The company also reported an earlier notice. On September 9, 2026, Nasdaq confirmed that Tevogen had regained compliance with the minimum market value of publicly held shares requirement under Nasdaq Listing Rules 5450(B)(2)(C) and 5450(B)(3)(C). With both requirements now met, the company says both matters are closed.

The release does not say what market value produced the compliance.

Who Tevogen is

The company is based in Warren, New Jersey. It describes itself as an integrated healthcare enterprise that combines biotechnology, artificial intelligence and healthcare services. Its three efforts are Tevogen Bio, its biotechnology initiative, Tevogen.AI, its technology initiative, and Tevogen Healthcare Services, an emerging services initiative. The release says the aim is to reduce the cost of medication and widen patient access.

The biotechnology side is built on ExacTcell, a platform the 10-K describes as a set of processes for developing and expanding single HLA-restricted CTL therapies. The company says the cells are naturally occurring, unlike genetically engineered T cell therapies, and that they can be given to patients other than the original donor. The company describes its products as off-the-shelf and manufactured in advance. The 10-K says the platform is being used to build a pipeline of T cell therapies with targets in infectious disease, cancer and other disorders.

The first clinical product, TVGN 489, was developed for COVID-19 in the immunocompromised and high-risk elderly. Tevogen says it progressed from pre-discovery to the clinic in less than 18 months. In January 2023 the company completed a Phase 1 proof-of-concept trial in ambulatory, high-risk adults with COVID-19. It reports no dose-limiting toxicities and no significant treatment-related adverse events in the treatment arm. The 10-K says Phase 1 trials are designed in part to generate proof of concept data and safety data on tolerability and side effects.

The 10-K says a pivotal trial may not be denoted as Phase 3, and that the company believes Phase 2, Phase 2/3 or Phase 3 trials could serve as pivotal trials for TVGN 489. It also says the company cannot be certain it will be allowed to move from Phase 1 directly to a pivotal trial in any target population until the FDA reviews and concurs with its plans, and that the FDA may require further trials to generate additional safety and efficacy data before approval. The Phase 1 results were published in Blood Advances in June 2024, and the company says it is planning a pivotal trial in COVID-19 patients with B cell malignancies.

The financials

Research and development expense fell to $11.1 million in 2025 from $31.0 million in 2024. The net loss was $26.3 million in 2025, against $13.7 million in 2024. Cash used in operations was $12.3 million in 2025, compared with $12.0 million in 2024.

At June 30, 2026, cash and cash equivalents were $1.1 million, according to the company's quarterly report. The company used $12.3 million of cash in operations in 2025, and the release does not discuss how it plans to fund the next period.

What the notice leaves out

The release is about listing compliance. It does not discuss the company's cash position, financing plans or the trial timetable for TVGN 489. The regained compliance closes the two listing matters but says nothing about the funding questions the financial figures raise.

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