Earnings Releases·Nov 10, 2026, 8:00 AM ET

PepGen — Third Quarter 2026 Earnings Summary

Net loss widened to $19.4 million ($0.28 per share) for Q3 2026 from $18.0 million ($0.52 per share) in Q3 2025, driven by a 9% increase in total operating expenses to $20.4 million and a weighted-average share count doubling to 69.3 million; cash and equivalents declined to $104.8 million from $148.5 million at year-end 2025.
The 10 mg/kg FREEDOM2-DM1 cohort demonstrated a record 46.5% mean splicing correction with functional improvements and no serious adverse events, prompting the DSMB to advance the trial to the highest dose cohort (12.5 mg/kg), which is now fully enrolled.
Future milestones include interim FREEDOM-OLE safety data in January 2027, full results for the 12.5 mg/kg cohort in H1 2027, and an EOP2 meeting in H2 2027, pending resolution of a partial clinical hold in the U.S. regarding nonclinical mouse findings.
Management confirmed the company is funded to operate through 2028 and noted the FDA selected PGN-EDODM1 for the CMC Development and Readiness Pilot in October 2026.