BUZZ-PepGen shares rise after launching equity financing to support muscle disease drug development

November 10 - ** Shares of PepGen’s PEPG.O rose by 4.8% to $4.83, extending the significant rally during Tuesday’s regular session, as the company is planning an equity financing

** On Tuesday, PEPG shares surged approximately 93% to close at $4.61 after mid-stage clinical trial results for its experimental drug (link) for treating myotonic dystrophy type 1 (DM1) beat expectations

** The company stated that, at a 10 mg/kg dose, its drug PGN-EDODM1 corrected abnormal muscle cell processes by 46.5%

** After the market close, the company launched (link) a $125 million stock offering to fund the continued clinical development of PGN-EDODM1 and for working capital and other general purposes

** Leerink, Stifel and Guggenheim are acting as joint bookrunners

** Boston, Massachusetts-based PEPG currently has about 69.26 million shares outstanding

** As of the close, PEPG shares are down 29% since the start of the year

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