PepGen Inc. (PEPG) Earnings
PepGen Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $-0.30. PEPG has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +20.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 12, 2026 | $-0.31 | $-0.26 | +16.1% | — | — |
| Mar 4, 2026 | $-0.40 | $-0.27 | +32.5% | — | — |
| Nov 12, 2025 | $-0.63 | $-0.52 | +17.5% | — | — |
| Aug 7, 2025 | $-0.85 | $-0.70 | +17.6% | — | — |
| May 8, 2025 | $-0.72 | $-0.92 | -27.8% | — | — |
| Nov 7, 2024 | $-0.87 | $-0.66 | +24.1% | — | — |
| Aug 8, 2024 | $-0.72 | $-0.87 | -20.8% | — | — |
| Mar 6, 2024 | $-1.01 | $-0.82 | +18.8% | $2M | — |
| May 11, 2023 | $-0.79 | $-0.69 | +12.7% | — | — |
| Mar 23, 2023 | $-0.87 | $-0.96 | -10.3% | — | — |
| Nov 10, 2022 | $-1.00 | $-0.79 | +21.0% | — | — |
| Aug 12, 2022 | $-0.76 | $-1.23 | -61.8% | — | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2023 · March 7, 2024
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Initiated first inpatient clinical trials for PepGen Enhanced Delivery Oligonucleotide (EDO) cell-penetrating peptide platform in neuromuscular diseases with high unmet medical need. - Lead DMD program: Enrollment completed in CONNECT1-EDO51 cohort 1; planning to escalate to 10 mg/kg dose; MHRA cleared CONNECT2-EDO51 for Phase II study, with dosing expected in UK Q3 2024; preliminary data from CONNECT1 5 mg/kg cohort anticipated mid-2024. - DM1 program: FDA lifted clinical hold on EDODM1; EDODM1 granted fast track designation; first patient dosed in FREEDOM-DM1 Phase I trial; preliminary data from 5 mg/kg cohort in FREEDOM-DM1 expected second half 2024. - Preclinical program: PGN-EDO53, lead preclinical program for DMD exon 53 skipping, commencing IND and CTA-enabling studies in 2024.
Guidance
- Anticipate reporting preliminary data from CONNECT1-EDO51 5 mg/kg cohort mid-2024, including safety, exon skipping, and dystrophin production. - Expect preliminary safety, splicing correction, and functional outcome measures from FREEDOM-DM1 Phase I trial's 5 mg/kg cohort in second half 2024. - Cash from the recent stock offering extends the cash runway into 2026.
Segment performance
PepGen reported a net loss of $19.5 million for the fourth quarter of 2023 and $78.6 million for the full year 2023. Research and development expenses for the three months ended December 31, 2023, were $16.3 million, and for the full year 2023, $68.1 million. General and administrative expenses were $4.5 million for the three months ended December 31, 2023, and $16.6 million for the full year 2023. As of December 31, 2023, cash and cash equivalents were $110.4 million. After the February 2024 stock offering, the cash runway is projected to extend into 2026.
Risks & headwinds
- Forward-looking statements are subject to risks and uncertainties, including regulatory approvals, clinical trial outcomes, and potential material differences from forecasted results, as detailed in the most recent 10-K filed with the SEC.
Analyst Q&A
Q: Could you talk more about the mechanism of PGN-EDODM1?
A: PGN-EDODM1 targets the CUG repeat, liberates MBNL1, reduces toxic foci in patient cells, corrects splicing, and shows myotonia correction in mouse models, leveraging the EDO platform technology which has demonstrated robust delivery and exon skipping.
Q: For dystrophin measures in CONNECT1-EDO51, are they unadjusted?
A: Dystrophin levels are reported above background. The 5 mg/kg cohort aims for >1% dystrophin, with potential for >9% at 10 mg/kg based on nonhuman primate studies and modeling work.
Q: Have you started identifying patients for the 10 mg/kg cohort in DMD?
A: Anticipate robust recruitment for CONNECT1, with data from the 10 mg/kg cohort expected in a timely manner based on investigator enthusiasm for the study.
Q: What's a meaningful level of splicing correction in DM1?
A: Preclinically, >25% splicing correction correlates with myotonia correction. The FREEDOM-DM1 trial will assess endpoints like vHoT (myotonia assessment), strength tests, and functional measures such as the 10-meter walk test to evaluate splicing correction impact.