The stock will trade on FREEDOM2 10 mg/kg data in 2H 2026 and resolution of the FDA partial clinical hold. Near-term catalyst is limited — monitor for FDA feedback and any preclinical study updates. The improved cash position reduces near-term dilution risk.
Price Chart
Executive Summary
PepGen reported Q1 2026 net loss of $17.8M ($-0.26/share), narrower than the $30.2M loss in Q1 2025, with cash of $132.3M sufficient into 2H 2027. The FREEDOM2-DM1 5 mg/kg cohort showed favorable safety and efficacy data, the 10 mg/kg cohort is fully enrolled with data expected in 2H 2026, but an FDA partial clinical hold remains unresolved.
Key Financial Metrics
Key Facts
- Net loss of $17.8M ($-0.26/share) for Q1 2026 vs $30.2M ($-0.92/share) in Q1 2025
- Cash, cash equivalents and marketable securities of $132.3M as of March 31, 2026
- FREEDOM2-DM1 5 mg/kg cohort demonstrated favorable safety, splicing and vHOT data
- FREEDOM2 10 mg/kg cohort fully enrolled, data on track for 2H 2026
- FDA partial clinical hold on FREEDOM2 study remains unresolved
- 13 patients enrolled in open label extension at 5 mg/kg with no discontinuations
Financial Impact
Net loss improved by $12.4M YoY to $17.8M; cash burn of $16.2M in Q1 2026
Risk Factors
- FDA partial clinical hold could delay or derail FREEDOM2 trial if not resolved
- 10 mg/kg cohort data may not replicate 5 mg/kg safety/efficacy profile
- Pre-revenue biotech with no approved products — binary clinical risk
- Cash runway only into 2H 2027 — potential future dilution
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-219424 |
| Document: pepg-20260512.htm | 0001193125-26-219424 |
| Document: 0001193125-26-219424-index-headers.html | 0001193125-26-219424 |
| Document: 0001193125-26-219424-index.html | 0001193125-26-219424 |
| Document: 0001193125-26-219424.txt | 0001193125-26-219424 |
| 8-K Data (Synthetic) | 0001193125-26-219424 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 8w ago | 8-K | $2.41 $3.18 | ▲ +31.95% | ▲ +31.35% | $2.28 (−5.60%) |
Jun 11, 2026 16w ago | Institutional Cluster | $1.51 $2.30 | ▲ +52.32% | ▲ +50.43% | $2.28 (+50.66%) |
Jun 11, 2026 16w ago | Institutional Cluster | $1.51 $2.30 | ▲ +52.32% | ▲ +50.43% | $2.28 (+50.66%) |
May 22, 2026 19w ago | EFFECT | $1.51 $1.90 | ▼ −25.83% | ▼ −27.24% | $2.28 (−50.66%) |
May 19, 2026 19w ago | S-3 | $1.38 $1.70 | ▼ −23.19% | ▼ −22.20% | $2.28 (−64.86%) |
May 12, 2026 20w ago | 8-K | $1.78 $1.51 | ▼ −15.17% | ▼ −14.56% | $2.28 (+27.81%) |
Mar 4, 2026 30w ago | 8-K | $5.51 $1.73 | ▼ −68.57% | ▼ −64.79% | $2.28 (−58.67%) |
Mar 4, 2026 30w ago | Insider Cluster | $6.76 $1.74 | ▼ −74.26% | ▼ −69.84% | $2.28 (−66.35%) |
US Market Status
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