PEPG Investors Have the Opportunity to Lead the PepGen Securities Fraud Lawsuit With Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PepGen Inc. (“PepGen” or the “Company”) (NASDAQ: PEPG) and reminds investors of the August 11, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) PGN-EDO51 was less effective and safe than Defendants had led investors to believe; (ii) the CONNECT2 study was dangerous or otherwise deficient for purposes of U.S. Food and Drug Administration (“FDA”) approval; (iii) 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 (iv) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

On July 30, 2024, PepGen issued a press release announcing purported “positive clinical data from the first dose cohort (5 mg/kg) of PGN-EDO51” in its ongoing CONNECT1 study. Among other results, the Company reported that “PGN-EDO51 achieved a mean absolute dystrophin level of 0.61% of normal and a 0.26% change from baseline after 4 doses, measured at week 13 by Western blot analysis.” However, as subsequently noted by a Stifel analyst, “the magnitude of dystrophin increase was below what [PepGen] anticipated, which is disappointing[.]” Likewise, a Leerink Partners analyst noted that the low dose missed PepGen’s expectations of 1% or greater dystrophin expression.

On this news, PepGen’s stock price fell $5.55 per share, or 32.69%, to close at $11.43 per share on July 31, 2024.

On December 16, 2024, PepGen issued a press release announcing that it had received a clinical hold notice from the FDA regarding an Investigational New Drug (“IND”) application “to initiate the [CONNECT2] clinical trial in patients with [DMD]” in the U.S. Notably, the FDA’s issuance of a clinical hold notice for the IND application indicated that the FDA had concerns regarding risks posed to patients in the CONNECT2 study and/or there were other deficiencies associated with the study.