Tevogen Bio Shares Surge After AI Tie-Up With Microsoft: Retail Turns Bullish

Shares of Tevogen Bio Holdings Inc. ($TVGN) spiked as much as 49% on Wednesday (1:34 pm ET), the highest in six months, after the pharmaceutical company announced an AI-related partnership with Microsoft Corp. ($MSFT) for Startups, lifting retail sentiment.

The partnership marks a “significant milestone” for the Warren, N.J.-based company as it is aimed at accelerating and streamlining the development of Tevogen’s proprietary algorithms, and lower the total cost of drug development and expedite drug discovery.

Tevogen, founded in 2020, has said it owns three patents, with nine pending U.S. and 12 international applications.

Retail sentiment on the stock turned ‘bullish’ (72/100) from ‘neutral’ (48/100) a day ago with accompanying message volumes remaining in the ‘high’ zone. (65/100).

Tevogen develops off-the-shelf therapies that treat infectious diseases, cancers, and neurological disorders.

It has previously made projections to reach $1 billion in revenue for its first year from its cancer drugs, with a cumulative five-year estimate of $10 billion - $14 billion on its revenue.

Tevogen previously reported positive safety outcomes from the clinical trial for its first product TVGN 489, a T-cell therapeutic for high-risk Covid-19 patients including immunocompromised and the elderly.
One Stocktwits user predicted its stock to close above $2.40

Tevogen stock is up 52% year-to-date.

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