On Tuesday, D Boral Capital initiated coverage on Tevogen Bio Holdings Inc. (NASDAQ:TVGN), a clinical-stage immunotherapy company.

The company’s lead pipeline product, TVGN-489, is a SARS-CoV-2-specific therapy.

Tevogen’s pipeline includes preclinical programs targeting Epstein-Barr virus-associated lymphomas (TVGN -930), human papillomavirus-related cervical cancer (TVGN -920), multiple sclerosis (TVGN -601), and HPV-related mouth and throat cancer (TVGN-960).

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Analyst Jason Kolbert writes Tevogen stands out by developing off-the-shelf T-cell therapies that address the challenges of traditional treatments.

Its unique technology allows for large-scale production of virus-targeting T cells without gene editing, making the therapies potentially safer, more affordable, and easier to access.

Unlike many competitors relying on complex, patient-specific methods, Tevogen's approach enables broader commercial use.

D Boral Capital has initiated with a Buy rating and a price forecast of $10.

Tevogen Bio, in January, received $2 million in non-dilutive grant funding from KRHP LLC (Grantor) with an additional $8 million to be contributed contingent on the Grantor’s review of the company’s activities.

On Monday, Tevogen Bio said it would receive the remaining $8 million in funding from the Grantor before the end of the current fiscal quarter based on the Grantor’s evaluation of the company’s progress, particularly in Tevogen Bio’s artificial intelligence effort, Tevogen.AI.

The analyst says, “With key clinical readouts ahead, an emphasis on operational efficiency, and the potential for industry collaborations, Tevogen represents an emerging leader in next-generation T cell therapies.”

The analyst also adds that encouraging study results could lead to regulatory talks, new partnerships, and expanded drug approvals. Tevogen’s technology may also have potential in solid tumors and autoimmune diseases.

Price Action: TVGN stock is up 9.32% at $1.29 at last check Tuesday.

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