PepGen Inc.
- Open
- 1.81
- Day high
- 1.82
- Day low
- 1.75
- Prev close
- 1.80
- Volume
- 87K
- Mkt cap
- $125M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.9
- P/S
- —
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$2K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions accumulating (13F)
PepGen Inc. (PEPG) is a Healthcare company listed on NASDAQ. The stock is up 65% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
PepGen Inc. (PEPG) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PEPG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 12, 2026 | $-0.31 | $-0.26 | +16.1% | — | — |
| Mar 4, 2026 | $-0.40 | $-0.27 | +32.5% | — | — |
| Nov 12, 2025 | $-0.63 | $-0.52 | +17.5% | — | — |
| Aug 7, 2025 | $-0.85 | $-0.70 | +17.6% | — | — |
| May 8, 2025 | $-0.72 | $-0.92 | -27.8% | — | — |
| Nov 7, 2024 | $-0.87 | $-0.66 | +24.1% | — | — |
| Aug 8, 2024 | $-0.72 | $-0.87 | -20.8% | — | — |
| Mar 6, 2024 | $-1.01 | $-0.82 | +18.8% | $2M | — |
| May 11, 2023 | $-0.79 | $-0.69 | +12.7% | — | — |
| Mar 23, 2023 | $-0.87 | $-0.96 | -10.3% | — | — |
| Nov 10, 2022 | $-1.00 | $-0.79 | +21.0% | — | — |
| Aug 12, 2022 | $-0.76 | $-1.23 | -61.8% | — | — |
PEPG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 22, 2026 | Dable Habib Jdirector | Grant | 34,000 | $1.79 |
| Jun 22, 2026 | HENSON HEIDIdirector | Grant | 34,000 | $1.79 |
| Jun 22, 2026 | KEATING LAURIEdirector | Grant | 34,000 | $1.79 |
| Jun 22, 2026 | RA CAPITAL MANAGEMENT, L.P.director, 10 percent owner: | Grant | 34,000 | $1.79 |
| Jun 22, 2026 | Wyman Lisadirector | Grant | 34,000 | $1.79 |
| Jun 22, 2026 | Resnick Joshuadirector | Grant | 34,000 | $1.79 |
| Jun 22, 2026 | Mayer Howarddirector | Grant | 34,000 | $1.79 |
| Jun 22, 2026 | Finer Mitchell H.director | Grant | 34,000 | $1.79 |
| May 26, 2026 | Kasraian Kasraofficer: Chief Technical Officer | Sell | 1,233 | $1.41 |
| Mar 6, 2026 | Donnelly Noelofficer: Chief Financial Officer | Sell | 52 | $6.33 |
| Mar 6, 2026 | McArthur James Gdirector, officer: President and CEO | Sell | 5,144 | $6.23 |
| Mar 6, 2026 | Donnelly Noelofficer: Chief Financial Officer | Sell | 2,032 | $6.23 |
| Mar 6, 2026 | STRECK PAULofficer: EVP, Head of R&D | Sell | 1,832 | $6.23 |
| Mar 6, 2026 | STRECK PAULofficer: EVP, Head of R&D | Sell | 47 | $6.29 |
| Mar 6, 2026 | McArthur James Gdirector, officer: President and CEO | Sell | 131 | $6.33 |
Source: PEPG SEC Form 4 filings, latest Jun 22, 2026. For informational purposes only — not investment advice.
See the full PEPG insider & 13F page →PepGen Inc. company profile
Overview
PepGen Inc. (NASDAQ:PEPG) is a clinical-stage biotechnology company founded in 2018 and headquartered in Cambridge, Massachusetts. The company went public in May 2022, raising approximately $123 million in its initial public offering. PepGen specializes in developing oligonucleotide therapeutics for severe neuromuscular and neurologic diseases, with a particular focus on conditions like Duchenne muscular dystrophy and myotonic dystrophy type 1. The company is currently in clinical trials with its lead therapeutic candidates and maintains no commercial revenue as it advances its pipeline through various phases of clinical development.
Business
PepGen operates in the biotechnology sector, specifically focusing on oligonucleotide therapeutics for rare neuromuscular diseases. Oligonucleotides are short DNA or RNA molecules that can be designed to modify gene expression or protein production in targeted ways. The company's core innovation lies in its proprietary Enhanced Delivery Oligonucleotide (EDO) platform, which combines traditional oligonucleotides with specialized peptides to improve delivery into muscle and other tissues. The company's pipeline centers around treating two primary conditions. Duchenne muscular dystrophy (DMD) is a severe genetic disorder affecting approximately 1 in 3,500 male births, characterized by progressive muscle degeneration due to mutations in the dystrophin gene. Patients typically lose the ability to walk by their teens and face life-threatening complications. Myotonic dystrophy type 1 (DM1) is another genetic muscle disorder caused by toxic RNA repeats that interfere with normal cellular function, leading to muscle weakness, myotonia (delayed muscle relaxation), and multi-system complications. PepGen's lead product candidate is PGN-EDO51, currently in Phase I clinical trials for DMD. This therapy uses exon-skipping technology, which aims to restore the reading frame of the dystrophin gene by skipping over problematic genetic sequences, potentially allowing production of a shortened but functional dystrophin protein. The company is also developing PGN-EDODM1 for DM1, which targets the toxic CUG repeat RNA that causes the disease. Additional DMD candidates include PGN-EDO53, PGN-EDO45, and PGN-EDO44, each designed to skip different exons depending on patients' specific genetic mutations.
Revenue model
As a clinical-stage biotechnology company, PepGen currently generates no revenue and operates on a research and development model funded by equity capital. The company's future business model will likely center on product sales of approved therapeutics, potentially supplemented by licensing agreements and partnerships with larger pharmaceutical companies. The primary customers will be patients with rare neuromuscular diseases, accessed through healthcare providers, specialty clinics, and potentially infusion centers. Given the rare disease focus, pricing will likely follow the high-cost, low-volume model typical of orphan drugs, with annual treatment costs potentially ranging from hundreds of thousands to over a million dollars per patient. Several factors could significantly impact the company's future margins and commercial success. Regulatory approval risk represents the most critical factor, as failure to demonstrate safety and efficacy in clinical trials would eliminate revenue potential entirely. Manufacturing complexity and costs for oligonucleotide therapeutics can be substantial, requiring specialized facilities and quality control processes. Competition from gene therapies, particularly for DMD where several approaches are in development, could limit market share and pricing power. Reimbursement challenges from payers may pressure pricing, especially given the high costs typical of rare disease treatments. Positive factors include the orphan drug designation advantages, which provide market exclusivity periods and regulatory incentives. The limited treatment options for these conditions create significant unmet medical need, potentially supporting premium pricing. Additionally, the company's platform approach allows for development of multiple products targeting different patient populations, potentially spreading development costs across a broader revenue base.
Competitive moat
PepGen's competitive moat appears moderate but uncertain given its early-stage development status. The company's primary potential moat lies in its proprietary EDO platform technology, which the company claims achieves superior tissue delivery compared to traditional oligonucleotides. In preclinical studies and early clinical data, PepGen has reported achieving higher levels of oligonucleotide delivery in muscle tissue compared to competitors, which could translate to better efficacy at lower doses. The company has built some intellectual property protection around its EDO peptide-conjugation technology, though the strength and breadth of this patent portfolio relative to competitors is not fully clear. In the DMD space, PepGen faces significant competition from established players like Sarepta Therapeutics, which already has approved exon-skipping therapies, as well as gene therapy approaches from companies like Pfizer and Roche/Genentech. However, the regulatory pathway advantages for first-in-class treatments in rare diseases can create meaningful moats once achieved. If PepGen's therapies demonstrate superior efficacy or safety profiles, they could establish strong market positions. The specialized knowledge and relationships required for rare disease development, including connections with patient advocacy groups and specialized clinical sites, also provide some competitive advantages. The primary competitive threats come from gene therapy approaches that could potentially provide one-time curative treatments, making chronic oligonucleotide therapies less attractive. Additionally, larger pharmaceutical companies with greater resources could potentially develop superior delivery technologies or advance competing programs more rapidly through clinical development.
Risks & safety
PepGen presents a moderate to high-risk investment profile typical of clinical-stage biotechnology companies, with significant cash reserves but substantial ongoing losses. • **Cash Position**: $43.6 million in cash and short-term investments as of Q1 2025, down from $49.4 million in Q4 2024, indicating ongoing cash burn • **Burn Rate**: Quarterly cash burn of approximately $23 million based on free cash flow, suggesting runway into late 2025 or early 2026 • **Debt Level**: Minimal debt with debt-to-equity ratio of 0.20, indicating low solvency risk from leverage • **Current Ratio**: Strong liquidity position with current ratio of 4.95, well above the 2.0 threshold for financial stability • **Valuation Metrics**: Trading at 0.50x book value and negative earnings multiples due to development-stage losses • **Market Cap**: Approximately $49 million market capitalization reflects significant decline from IPO levels • **Graham Net-Net**: Ratio of 1.90 suggests trading below liquidation value, indicating potential value opportunity or market skepticism • **Other Considerations**: No revenue generation creates binary risk around clinical trial outcomes; regulatory approval timeline extends several years into the future; competitive landscape in rare disease space intensifying
Recent development
Over the past few years, PepGen has achieved several significant clinical and strategic milestones while transitioning from a private research company to a publicly-traded clinical-stage biotechnology firm. The company completed its initial public offering in May 2022, raising approximately $123 million and establishing its presence on NASDAQ. The company's clinical development has accelerated substantially, with PGN-EDO51 advancing into Phase I trials for Duchenne muscular dystrophy. The CONNECT1-EDO51 trial completed enrollment for the 5 mg/kg dose cohort, with preliminary data expected in mid-2024. Early clinical results have shown promising oligonucleotide delivery levels in muscle tissue, with the company reporting the highest levels achieved in human muscle biopsies compared to other approaches. For myotonic dystrophy type 1, PepGen overcame a significant regulatory hurdle when the FDA lifted a clinical hold on PGN-EDODM1 in October 2023. The program subsequently received FDA Fast Track Designation, and the company dosed its first patient in the Phase I FREEDOM-DM1 trial in December 2023. This represents a major strategic advancement as DM1 had been a secondary focus compared to the DMD program. The company has also strengthened its financial position through a $80 million stock offering in February 2024, extending its cash runway into 2026 and providing resources to advance multiple clinical programs simultaneously. PepGen has expanded its pipeline with additional DMD candidates targeting different exons (PGN-EDO53, PGN-EDO45, and PGN-EDO44), positioning the company to address a broader patient population with varying genetic mutations. Operationally, the company has built out its clinical and regulatory capabilities to support multiple concurrent trials while maintaining its research focus on enhancing the EDO platform technology for potential applications beyond the current neuromuscular focus areas.
PEPG company profile · for informational purposes only — not investment advice.
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