Start here if you're new
what it is
PepGen develops experimental medicines for muscle and nerve diseases.
how it gets paid
Last year Pepgen made n/a in revenue. PGN-EDO51 was the main engine at $0, or 25% of sales.
what just happened
Q4 2024 loss narrowed to -$0.68 per share, but there is still no revenue to lean on.
At a glance
C++ balance sheet — some cracks in the foundation
-$2.85 fy2024 eps est
1.4 beta
~$368M market cap
small cap
xvary composite: 41/100 — below average
What they do
PepGen develops experimental medicines for muscle and nerve diseases.
This is an 81-person company with 3 clinical programs. That is not scale. That is a small team betting on human data. Phase II → middle-stage human test → so what: one clean readout can rerate the stock, and one bad readout can do the opposite.
How they make money
n/a
annual revenue
PGN-EDO51
$0
PGN-EDODM1
$0
DMD follow-ons
$0
preclinical assets
$0
The products that matter
Phase 2 drug candidate
PGN-EDODM1
lead program · partial clinical hold
this is the asset that matters right now: a Phase 2 program for myotonic dystrophy type 1 that was placed on partial hold by the FDA in March 2026.
phase 2
Preclinical candidate
PGN-EDO51
earlier-stage pipeline
this Duchenne muscular dystrophy program is still preclinical, which means it is years behind the lead asset and has no clinical data yet.
preclinical
Key numbers
$368M
market cap
The market is pricing this like a small, pre-revenue shot on goal.
-$2.85
fy2024 eps
That loss says the company spends more than it takes in.
3
risk rank
Middle of the scale on paper. In biotech, that still means binary trial risk.
1.4
beta
The stock moves more than the market.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for PEPG right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Q4 2024 loss narrowed to -$0.68 per share, but there is still no revenue to lean on.
The last quarter in Value Line's history was -$0.68 per share, versus -$0.81 a year earlier. The company is still pre-revenue, so EPS is the whole show.
$0
revenue
-$0.68
eps
n/a
n/a
q4 eps
The -$0.68 quarterly loss matters because it was smaller than the -$0.81 loss a year earlier, yet the business still has no revenue.
quarterly EPS history and Yahoo Finance trailing EPS
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What could go wrong
The top risk here is the FDA partial clinical hold on PGN-EDODM1. This is a one-story stock until that changes.
med
FDA partial clinical hold
The FDA placed a partial hold on the lead Phase 2 program in March 2026. For a company with no product revenue, that is not a side issue. That is the business issue.
A prolonged hold would pressure the timeline, weaken confidence in the platform, and make the current runway into 2H 2027 feel shorter.
med
cash runway and dilution risk
PepGen reported $148.5M in cash and investments as of Dec. 31, 2025 and says that funds operations into the second half of 2027. That guidance assumes progress, not endless delay.
If timelines slip, new capital can show up before value creation does. In plain English: you can be right on the science and still get diluted on the way there.
med
legal overhang
Pomerantz LLP filed a class action in August 2025 alleging securities law violations. Litigation does not need to be fatal to be distracting.
This adds cost, management attention risk, and one more reason for institutions to stay cautious in a stock already trading on trust.
The combined risk picture is simple: 100% of the current equity story depends on a pipeline that has no revenue today, one lead asset on hold, and a cash clock currently guided to 2H 2027.
source: institutional data · regulatory filings · risk analysis
Pay attention to
regulatory
FDA hold resolution
This is the number one catalyst. No commercial model or analyst target matters much until the company clears the partial hold on PGN-EDODM1.
balance sheet
cash runway versus delay risk
Management says $148.5M funds operations into 2H 2027. Watch whether that language holds after each update, because time is the scarce asset here.
clinical calendar
next data timing
The page references a 5 mg/kg cohort readout in Q1 2026 and a 10 mg/kg cohort readout in 2H 2026. The key question is which of those still matters under the current regulatory setup.
ownership
institutional conviction
With 99.68% institutional ownership, you want to know whether funds keep backing the story or start heading for the exit at the same time.
Analyst rankings
risk profile
average
risk rank 3 — typical risk profile — neither especially safe nor risky.
chart momentum
below average
momentum rank 4 — analysts see underperformance risk in the near term.
source: institutional data
Institutional activity
institutional ownership data for PEPG is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$6
current price
n/a
target midpoint · n/a from current
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