According to the Complaint, PepGen Inc. is a clinical-stage biotechnology company that focuses on the development of oligonucleotide therapeutics for use in the treatment of severe neuromuscular and neurologic diseases. This class action was filed against PepGen and two of its Officers.

PepGen had been evaluating PGN-EDO51 as a treatment for Duchenne muscular dystrophy in two Phase 2 clinical trials—the CONNECT1-EDO51 (“CONNECT1”) and CONNECT2-EDO51 (“CONNECT2”) studies. At all relevant times, Defendants touted PGN-EDO51’s clinical, regulatory, and commercial prospects, including PGN-EDO51’s ability to produce the dystrophin protein and the design, prospects, and results of the CONNECT1 and CONNECT2 studies.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Complaint alleges 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. 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.