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Investing.com -- PepGen Inc. (NASDAQ:PEPG) stock surged 145% after the clinical-stage biotechnology company announced unprecedented splicing correction results in patients with myotonic dystrophy type 1 (DM1) from its FREEDOM-DM1 Phase 1 study.
The company reported a mean splicing correction of 53.7% following a single 15 mg/kg dose of its PGN-EDODM1 treatment, substantially higher than any previously reported splicing correction in DM1 patients. All patients in the 15 mg/kg cohort showed improved splicing correction following treatment.
"We are delighted to report that the FREEDOM clinical study achieved all of its key objectives, including unprecedented splicing correction following a single dose of PGN-EDODM1 at 15 mg/kg," said Paul Streck, Executive Vice President of Research and Development at PepGen .
The latest results build upon previously reported data from lower dose cohorts, which showed mean splicing correction of 12.3% at 5 mg/kg and 29.1% at 10 mg/kg, demonstrating greater than dose-proportional increases in efficacy.
PGN-EDODM1 was generally well-tolerated at the 15 mg/kg dose level, with no serious treatment-related adverse events. All treatment-related adverse events were mild or moderate, transient, and mostly did not require intervention.
The company also announced the pricing of an underwritten offering of 31,250,000 shares of common stock at $3.20 per share, expected to raise $100 million in gross proceeds. The offering is expected to close around September 26, 2025.
PepGen anticipates reporting results from the first cohort of its FREEDOM2 multiple ascending dose study in the first quarter of 2026 and expects to begin dosing its 10 mg/kg cohort in the same quarter.
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