Tevogen Bio Inc reports 2023 net loss of $60.5M; cash only $1.05M, going concern raised

Tevogen Bio Holdings Inc.

Net loss of $60.5M in 2023 ($2.44/share) vs $22.0M in 2022; no revenue.
Operating expenses $8.8M; $50.4M non-cash loss from change in fair value of convertible notes.
Accumulated deficit $99.7M; cash $1.05M at Dec 31, 2023.
Auditors express substantial doubt about ability to continue as going concern.
Post-balance sheet: $2M Series A Preferred (Feb 2024) and $1.2M Series A-1 Preferred.

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