PepGen falls on clinical hold notice from FDA for mid-stage muscle disorder trial

PepGen

16/12/2024 14:16

** Shares of drug developer PepGen  PEPG.O  fall 27.4% to
$3.40 premarket  
    ** Co receives clinical hold notice from the US FDA
regarding its mid-stage muscle disorder trial 
    ** The FDA indicated they will provide an official clinical
hold letter to the company within 30 days- PEPG
    ** The study was testing co's experimental drug, PGN-EDO51,
in a 25-week clinical trial in patients with Duchenne muscular
dystrophy
    ** Duchenne muscular dystrophy is a condition that causes
skeletal and heart muscle weakness that quickly gets worse with
time
    ** "We intend to work closely with the FDA to address their
questions on our application to initiate CONNECT2 as
expeditiously as possible," - PEPG 
    ** Co says it continues to test PGN-EDO51 in the mid-stage
trial in the 10 mg/kg group 
    ** Up to last close, stock 31.2% YTD  

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))