Biotech firm PepGen's Q3 net loss widens as R&D expenses rise
PEPG•PepGen's third-quarter net loss widened to $19.39 million, or $0.28 per share, as expenses rose. The company ended the quarter with $104.8 million in cash and expects its resources to fund operations into 2028.
1. Quarterly results
PepGen reported a third-quarter net loss of $19.39 million, or $0.28 per share, with operating expenses of $20.38 million. Higher research and development and general and administrative expenses contributed to the increased costs.
2. Trial and cash outlook
PepGen reported positive Phase 2 FREEDOM2-DM1 results for PGN-EDODM1, including its highest reported splicing correction and improvements in functional measures. It expects results from the 12.5 mg/kg cohort in the first half of 2027, and FREEDOM-OLE safety and clinical data in January 2027. The company ended the quarter with $104.8 million in cash and expects its cash resources to fund operations into 2028.
