Ananda Ghosh

Laura Chico

- PepGen Inc. priced an underwritten offering of **31,250,000 shares of common stock at $3.20 per share**, with expected **gross proceeds of $100 million**.  **[1835597_0001193125-25-218503_d911432dex992.htm:1]** **[1835597_0001193125-25-218503_d911432d8k.htm:1]** 
- The underwriters fully exercised their option to purchase an additional **4,687,500 shares**, increasing the estimated **net proceeds to $107.6 million**.  **[1835597_0001193125-25-218503_d911432d8k.htm:1]** 
- The company intends to use the net proceeds to **fund ongoing research and clinical development efforts**, including the FREEDOM-DM1 and FREEDOM2-DM1 clinical trials, as well as for working capital and other general corporate purposes.  **[1835597_0001193125-25-218503_d911432dex992.htm:1]** **[1835597_0001193125-25-218503_d911432d8k.htm:1]** 
- The offering is expected to **close on or about September 26, 2025**.  **[1835597_0001193125-25-218503_d911432dex992.htm:1]** **[1835597_0001193125-25-218503_d911432d8k.htm:1]**

PepGen Inc. announces pricing of underwritten public offering

- PepGen Inc. announced a **$100 million underwritten public offering** of **31.25 million shares at $3.20 each**.  **[1835597_443f6295f292471f8081cd00c4755962]** 
- The proceeds from the offering are intended to fund **ongoing research and clinical trials**, including the FREEDOM-DM1 and FREEDOM2-DM1 projects, as well as for working capital and general corporate purposes.  **[1835597_443f6295f292471f8081cd00c4755962]** 
- Following the announcement, PepGen's shares **surged by 33.8%** in after-hours trading.  **[1835597_443f6295f292471f8081cd00c4755962]** 
- The company is a clinical-stage biotechnology firm that currently has **no revenue and negative earnings**.  **[1835597_443f6295f292471f8081cd00c4755962]**

PepGen Announces $100 Million Public Stock Offering

- PepGen Inc. announced **positive clinical data** from the 15 mg/kg dose cohort of its FREEDOM-DM1 Phase 1 study for myotonic dystrophy type 1 (DM1).  **[1835597_0001193125-25-215435_d67598dex991.htm:0]** 
- The study demonstrated a **mean splicing correction of 53.7%** in DM1 patients following a single 15 mg/kg dose of PGN-EDODM1, which is the highest reported to date.  **[1835597_0001193125-25-215435_d67598dex991.htm:0]** 
- **All patients (100%)** in the 15 mg/kg cohort showed improved splicing correction, and PGN-EDODM1 was **generally well-tolerated** with mild or moderate drug-related adverse events.  **[1835597_0001193125-25-215435_d67598dex991.htm:0]** 
- PepGen anticipates reporting results from the FREEDOM2-DM1 MAD study 5 mg/kg cohort in the **first quarter of 2026**.  **[1835597_0001193125-25-215435_d67598dex991.htm:0]**

PepGen (PEPG)