TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
Neal Flomenberg, Tevogen Bio Holdings Inc.’s (NASDAQ:TVGN) Chief Scientific Officer and Global R&D Lead, has recently sold shares of the company in a series of transactions. According to a Form 4 filing with the Securities and Exchange Commission, Flomenberg sold a total of 211,909 shares over three days, from March 7 to March 11, 2025.
The sales were conducted at prices ranging from $1.05 to $1.14 per share, resulting in a total transaction value of $231,734. These sales were made to satisfy tax obligations related to the vesting and settlement of restricted stock units, as noted in the filing, and were not discretionary decisions by Flomenberg. InvestingPro analysis indicates the stock typically moves counter to market trends with a beta of -1.05, while the company’s financial health score suggests potential challenges ahead.
Following these transactions, Flomenberg retains ownership of 3,828,576 shares of Tevogen Bio. The company’s current ratio of 0.34 indicates potential liquidity constraints, one of several key metrics available through InvestingPro’s comprehensive financial analysis platform.
In other recent news, Tevogen Bio has filed for a new patent with the U.S. Patent and Trademark Office for its T cell vaccine technology. This approach aims to stimulate a T cell response to the entire viral genome, differing from traditional vaccines. The company has reported positive safety data from its proof-of-concept clinical trial and owns several key intellectual property assets. Tevogen Bio has also announced that the development of this vaccine technology will not impact its Oncology and Specialty Care divisions’ projected topline forecasts. Additionally, Boral (OTC:BOALY) Capital has initiated coverage on Tevogen Bio, giving it a Buy rating with a $10 price target. The firm highlights Tevogen’s innovative approach in the cell therapy market, particularly its ability to create off-the-shelf T cell therapies. Furthermore, Tevogen Bio has expanded its collaboration with Microsoft (NASDAQ:MSFT) to enhance its AI technology, PredicTcell, which is designed for predictive precision T-cell targeting. This partnership leverages Microsoft’s AI and cloud capabilities, potentially advancing Tevogen’s proprietary technology.
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