Tevogen Bio's audited FY2023 shows $60.5M net loss, going concern doubt

Tevogen Bio Holdings Inc.

Net loss of $60.5M in 2023 vs $22.0M in 2022; accumulated deficit $99.7M.
Cash of $1.05M as of Dec 31, 2023; management cites substantial doubt about going concern.
Convertible promissory notes total $94.9M, with $80.7M current; fair value change of $50.4M recorded as loss.
Total operating expenses $8.8M (R&D $4.4M, G&A $4.4M), down from $13.7M in 2022.
Business combination with Semper Paratus closed Feb 14, 2024; post-merger financing included $2M Series A and $1.2M Series A-1 preferred.

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