PepGen soars after lead drug candidate shows promise in trial

PepGen

28/09/2022 17:11

** Shares of PepGen Inc  PEPG.O  surge ~70% to $8.82 - set
for their best daily pct gain since their May listing
    ** Co says its experimental therapy, PGN-EDO51, for treating
Duchenne muscular dystrophy (DMD) met the main goal of an
early-stage trial assessing its safety profile  urn:newsml:reuters.com:*:nGNX3cgqBS
    ** Says PGN-EDO51 was generally well tolerated at relevant
doses
    ** Adds that the drug performed above company's expectations
in the trial, delivering "very high" levels of a molecule,
called oligonucleotide, designed to target the root cause of DMD
    ** Co plans to initiate a mid-stage study of the drug in H1
2023
    ** DMD is a rare muscle-wasting disorder that can lead to
progressive weakness and loss of both skeletal and heart muscle
    ** Including session gains, stock down ~32% since May debut
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))