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WebsiteIntroduction to PepGen Inc.
PepGen Inc (NASDAQ: PEPG) is a clinical-stage biotechnology company headquartered in Boston, Massachusetts. Founded in 2018, the company utilizes its Enhanced Delivery Oligonucleotide (EDO) platform to develop therapeutics that target the underlying causes of genetic neuromuscular and neurological diseases.
Corporate Structure
PepGen employs between 51 and 200 people and conducts research and development activities from its Boston headquarters. Leadership includes Chief Executive Officer James Gregg McArthur and Vice President of Clinical Science Jane Larkindale. In an amended Schedule 13G/A filing dated August 13, 2025, Suvretta Capital Management, LLC, Averill Master Fund, Ltd., and Aaron Cowen were reported collectively to hold 300,000 shares, representing 0.9 percent of PepGen’s outstanding common stock.
Biotechnology by Sangharsh Lohakare
Developments and News
On May 28, 2025, PepGen announced the discontinuation of PGN-EDO51, its investigational therapy for Duchenne muscular dystrophy amenable to exon 51 skipping. The CONNECT1-EDO51 trial was halted, and the CONNECT2-EDO51 study was closed without dosing. The company continues to advance PGN-EDODM1, a peptide-conjugated oligonucleotide for myotonic dystrophy type 1, which has shown measurable splicing activity and a favorable tolerability profile after a single dose.
On September 24, 2025, PepGen filed a preliminary prospectus (Rule 424(b)(5)) for an underwritten offering of common stock and pre-funded warrants priced at $1.95 per share. The filing classifies the company as an “emerging growth company” under the JOBS Act and includes an option for underwriters to purchase additional shares within 30 days.
Financial and Strategic Analysis
As of September 25, 2025, PepGen’s stock price closed at $5.91, reflecting a 122.18 percent increase on trading volume of 17,881,037 shares. Key financial metrics are summarized below:
| Metric | Value |
|---|---|
| Stock price (Sep 25, 2025) | $5.91 (+122.18 %) |
| Volume | 17,881,037 shares |
| Market capitalization | $87.25 million |
| Net loss (trailing 12 months) | $96.92 million |
| Total cash (most recent quarter) | $74.65 million |
| Debt-to-equity ratio (MRQ) | 25.1 percent |
| 52-week range | $0.88 – $9.935 |
The increase in share price on September 25 follows the September 24 securities filing at $1.95 per share, reflecting the market’s response to the offering. PepGen’s cash reserves of $74.65 million provide financial resources for ongoing clinical programs, while the net loss of $96.92 million highlights the typical investment phase for clinical-stage biotech companies.
Market Position and Industry Context
PepGen operates within the biotechnology research industry, specializing in oligonucleotide therapeutics—an area characterized by delivery challenges and regulatory complexities. Its EDO platform aims to improve tissue targeting and cellular uptake. The company's focus has shifted from Duchenne muscular dystrophy toward myotonic dystrophy type 1, aligning resources behind PGN-EDODM1, which is in human studies. Competitors include developers of antisense and RNA-based therapies, with PepGen distinguishing itself through its proprietary peptide conjugation approach.
tl;dr
On September 25, 2025, PepGen’s shares closed at $5.91, a 122.18 percent gain on 17.9 million shares traded, following a September 24 prospectus filing for a common stock and pre-funded warrant offering at $1.95 per share. The company holds $74.65 million in cash against a $96.92 million net loss over the trailing year. Its lead candidate, PGN-EDODM1 for myotonic dystrophy type 1, is advancing in clinical trials, while the PGN-EDO51 Duchenne program was discontinued on May 28, 2025.
