PepGen falls after update for genetic disorder drug trial

PepGen

13/06/2023 21:42

** Shares of drug developer PepGen Inc  PEPG.O  fall ~6% to
$12.50 after the bell  
    ** The company says it is withdrawing its prior guidance on
timeline for initiating an early-stage study for its
experimental drug to treat a genetic disorder called myotonic
dystrophy type 1 
    ** Says withdrawing guidance as it awaits U.S. FDA's
official clinical hold letter regarding the study
    ** The company had received FDA's clinical hold notice late
last month 
    ** Myotonic dystrophy patients have muscle wasting and
weakness in their lower legs, hands, neck and face, which
worsens with time
    ** As of last close, PEPG shares down ~5% in the past three
months

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))