PEPG Stock — PepGen Inc.: Cash, EV, Pipeline

Share price

$2.85

Market cap

$197.4M

Cash

$117.2M

Enterprise value

$80.2M

Balance sheet

Cash	$117.2M
Debt	$0.0M
Net cash	$117.2M
Enterprise value	$80.2M
Basic shares	69.2M shares
Fully diluted shares	81.5M shares
Fully diluted market cap	$232.1M
Cash per share	$1.69

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Apr 12 - May 24	PGN-EDODM1	Phase 2	Myotonic Dystrophy 1	—
Feb 12 - Mar 26	PGN-EDODM1	Phase 2	Myotonic Dystrophy 1	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

PGN-EDODM1

Phase 2 · Active Modality: oligonucleotide (EDO peptide-conjugated PMO)

Target DMPK (CUG repeat expansion in DMPK mRNA)

Partnerships Oxford University Innovation Ltd / UK Medical Research Council (exclusive worldwide license to cell-penetrating peptide technology)

Indications

Myotonic dystrophy type 1 (DM1) (Phase 2)

Catalysts

— 2026-11
— first half of 2027

Status note Lead product candidate; company substantially dependent on its success. Phase 1 FREEDOM study completed; Phase 2 FREEDOM2 MAD study ongoing. FDA granted orphan drug and Fast Track designation for DM1; EMA orphan medicinal product designation.

PGN-EDO51

Phase 2 · Terminated Modality: oligonucleotide (EDO peptide-conjugated PMO)

Target DMD (dystrophin)

Partnerships Oxford University Innovation Ltd / UK Medical Research Council (exclusive worldwide license to cell-penetrating peptide technology)

Indications

Duchenne muscular dystrophy (DMD) (Phase 2)

Status note Company voluntarily discontinued development of PGN-EDO51 on May 28, 2025 and has substantially completed wind-down of DMD-related R&D activities.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	PGN-EDODM1
Lead indication	Myotonic Dystrophy 1
Lead phase	Phase 2
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06667453	Phase 2	Recruiting	Sponsor	PEPG	—	Myotonic Dystrophy 1	—
NCT07220603	Phase 2	Recruiting	Sponsor	PEPG	—	Myotonic Dystrophy 1	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for PepGen Inc on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	2,591,085	+983,447	0.22%	2026-08-14
Ikarian Capital	447,165	no change	0.13%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

PEPG — PepGen Inc.