Tevogen Bio Holdings Inc. TVGN stock is moving higher on Wednesday after the company announced its artificial intelligence effort, Tevogen AI, has joined Microsoft Corporation MSFT for Startups.
The Details: Tevogen said it will gain unparalleled access to Microsoft’s ecosystem through the partnership, which the company believes will accelerate and streamline its algorithm development.
The acceleration is expected to enable Tevogen to more rapidly achieve its mission of reducing drug development costs, expediting drug discovery and delivering life-altering therapies to large patient populations.
“The partnership with Microsoft, the leading innovator in the AI space, is a substantial investment in Tevogen’s goal to provide affordable and accessible therapies. By leveraging Microsoft’s cutting-edge AI technology, Tevogen aims to push the boundaries of what AI can achieve in the biotech industry,” the company said.
Mittul Mehta, CIO and Head of Tevogen AI, noted that Generative AI could generate between $60 billion and $110 billion annually in economic value for pharmaceutical and medtech companies, citing The McKinsey Global Institute.
“The metrics are astounding, and we are excited to contribute to that economic value,” Mehta said.
How To Buy Tevogen Bio Shares
By now you're likely curious about how to participate in the market for Tevogen Bio Holdings – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share.
In the case of Tevogen Bio Holdings, which is trading at $2.8 as of publishing time, $100 would buy you 35.71 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
TVGN Price Action: Tevogen shares were up 60.3% at $2.58 at the time of writing, per data from Benzinga Pro.
Image: Image: Unsplash/ Volodymyr Hryshchenko
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