PepGen Inc. PEPG
PepGen Inc. (also referred to as "PepGen," "we," "our" or "us") is a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapeutics with the goal of transforming the treatment of severe neuromuscular and neurologic diseases. Our proprietary Enhanced Delivery Oligonucleotide, or EDO, platform is founded on over a decade of research and development and leverages cell-penetrating peptides, or CPPs, to improve the uptake and activity of conjugated oligonucleotide therapeutics. Our EDO peptides are engineered to optimize tissue penetration, cellular uptake and nuclear delivery, and in preclinical studies, we have observed their ability to transport oligonucleotides into a broad range of target tissues, including smooth, skeletal, and cardiac muscle. In our clinical trials to date, our investigational therapies have demonstrated robust delivery and activity of oligonucleotides in skeletal muscle. Furthermore, the high levels of pharmacological activity observed across preclinical and clinical studies support our belief that our EDO platform technology has the potential to deliver therapeutic agents to the nucleus of the target cells, the site of action.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| R&D | $71.0M | $76.5M | $68.1M | $54.1M | $19.0M | — |
| SG&A | $22.6M | $21.3M | $16.6M | $14.2M | $8.1M | — |
| Total operating expenses | $93.6M | $97.7M | $84.8M | $68.3M | $27.1M | — |
| Operating income | -$93.6M | -$97.7M | -$84.8M | -$68.3M | -$27.1M | — |
| Pre-tax income | -$89.6M | -$90.6M | -$78.6M | -$65.4M | -$27.3M | — |
| Income tax | $48.9K | $617.0K | $73.0K | $3.7M | $0 | — |
| Net income | -$89.7M | -$90.0M | -$78.6M | -$69.1M | -$27.3M | — |
| EPS, basic | -2.12 | -2.85 | -3.30 | -4.42 | -30.27 | — |
| EPS, diluted | -2.12 | -2.85 | -3.30 | -4.42 | -30.27 | — |
| Shares, diluted (wtd. avg.) | $42.2M | $31.6M | $23.8M | $15.6M | $901.1K | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $60.5M | $49.4M | $80.8M | $181.8M | $132.9M | — |
| Short-term investments | $87.9M | $70.8M | $29.6M | $0 | — | — |
| Total current assets | $151.0M | $123.8M | $112.7M | $186.1M | $140.0M | — |
| Property, plant and equipment | $1.9M | $3.7M | $4.8M | $3.3M | $636.0K | — |
| Total assets | $173.9M | $150.9M | $143.1M | $217.4M | $143.6M | — |
| Accounts payable | $822.0K | $1.8M | $1.0M | $1.4M | $3.2M | — |
| Total current liabilities | $12.6M | $16.7M | $17.5M | $18.8M | $10.3M | — |
| Total liabilities | $26.5M | $32.3M | $34.6M | $37.8M | $10.5M | — |
| Retained earnings | -$361.1M | -$271.5M | -$181.5M | -$102.9M | -$33.8M | — |
| Total equity | $147.4M | $118.6M | $108.4M | $179.6M | -$32.1M | -$6.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$81.6M | -$82.4M | -$69.0M | -$59.3M | -$22.6M | — |
| Depreciation and amortisation | $1.4M | $1.5M | $1.2M | $500.0K | $200.0K | — |
| Stock-based compensation | $10.6M | $11.5M | $7.0M | $4.8M | $1.5M | — |
| Capital expenditure | $264.0K | $497.0K | $2.6M | $3.8M | $500.0K | — |
| Investing cash flow | -$15.2M | -$37.7M | -$32.0M | -$3.8M | -$500.0K | — |
| Financing cash flow | $108.0M | $88.7M | -$189.0K | $112.2M | $147.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-091536.
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