Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against PepGen Inc. (PEPG)

June 11, 2025 02:23 AM AEST | By EODHD

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Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against PepGen Inc. (PEPG) — Image source: Kalkine Media

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NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired PepGen Inc. (“PepGen” or the “Company”) (NASDAQ:PEPG) securities between March 7, 2024 and March 3, 2025, both dates inclusive (the “Class Period”). The Complaint alleges that Defendants made false and/or misleading statements and/or failed 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. Investors who purchased or otherwise acquired shares of PepGen should contact the Firm prior to the August 8, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J.

McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected]. Please visit our website at http://www.gme-law.com for more information about the firm.

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