PepGen Q2 net loss narrows as expenses fall
PepGen Q2 net loss narrows as expenses fall
Overview
Biotechnology company's Q2 net loss narrowed yr/yr as operating expenses declined
Company ended Q2 with $117.2 mln in cash, sufficient to fund operations into Q4 2027
PepGen fully enrolled 10 mg/kg FREEDOM2-DM1 cohort; next data readout expected in November
Outlook
PepGen expects data from 10 mg/kg FREEDOM2-DM1 cohort in November
Company expects results from 12.5 mg/kg FREEDOM2-DM1 cohort in 1H 2027
PepGen says cash is sufficient to fund operations into Q4 2027
Result Drivers
R&D SPEND DOWN - Lower research and development expenses contributed to reduced net loss in Q2
CLINICAL PROGRESS - Advancement of FREEDOM2-DM1 study, including full enrollment of 10 mg/kg cohort and DSMB dose escalation recommendation, cited as key focus
ADMIN COSTS UP - General and administrative expenses increased yr/yr
Company press release: ID:nBw5rBSh2a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Loss Per Share |
| $0.26 |
|
Q2 Net Loss |
| $17.81 mln |
|
Q2 Operating Expenses |
| $18.94 mln |
|
Q2 Operating Income |
| -$18.94 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for PepGen Inc. is $10.50, about 430.3% above its August 5 closing price of $1.98
Reuters Recommended Reads
Aug 5 - Entrada Therapeutics Q2 net loss narrows on lower costs
Aug 5 - Biomea Fusion Q2 loss narrows, cash runway into Q2 2027
Aug 3 - Design Therapeutics Q2 net loss narrower than expected
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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PepGen Q2 net loss narrows as expenses fall
Brief: PepGen Q2 EPS USD -0.26
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