PepGen rises as US FDA lifts clinical hold on genetic disorder drug study

PepGen

12/10/2023 12:28

** Shares of drug developer PepGen Inc  PEPG.O  rise 14.5%
to $6.02 premarket 
    ** Company says the U.S. health regulator has lifted the
full clinical hold and cleared the application to begin human
trials for its experimental drug to treat a genetic disorder
called myotonic dystrophy type 1   
    ** Myotonic dystrophy patients have muscle wasting and
weakness in their lower legs, hands, neck and face, which
worsens with time
    ** Company expects to get proof-of-concept data as well as
safety data from the study in 2024
    ** PEPG had received FDA's clinical hold notice in May
    ** Says it continues to expect cash and cash equivalents to
be sufficient to fund currently planned operations into 2025
-PEPG
    ** Up to last close, PEPG shares down ~61% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))