A securities class action has been filed in the USDC – E.D.N.Y. against PepGen Inc. (PEPG) (“PepGen” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired PepGen securities between March 7, 2024, and March 3, 2025, both dates inclusive (the “Class Period”).
PepGen is a clinical-stage biotechnology company that focuses on the development of oligonucleotide therapeutics for use in the treatment of severe neuromuscular and neurologic diseases. The Company’s lead product candidate was PGN-EDO51, a proprietary enhanced delivery oligonucleotide (“EDO”) peptide for the treatment of Duchenne muscular dystrophy (“DMD”), a genetic disorder characterized by progressive muscle degeneration and weakness.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:
(1) PGN-EDO51 was less effective and safe than Defendants had led investors to believe;
(2) the CONNECT2 study was dangerous or otherwise deficient for purposes of U.S. Food and Drug Administration (“FDA”) approval;
(3) as a result of all the foregoing, PepGen was likely to halt the CONNECT2 study, and PGN-EDO51’s clinical, regulatory, and commercial prospects were overstated; and
(4) as a result, Defendants’ public statements were materially false and misleading at all relevant times, thereby harming investors.
PepGen’s stock price fell $5.55 per share, or 32.69%, to close at $11.43 per share on July 31, 2024.
If you purchased PepGen securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.