{"id":859167,"date":"2025-06-10T12:26:07","date_gmt":"2025-06-10T16:26:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-pepgen-inc-pepg\/"},"modified":"2025-06-10T12:26:07","modified_gmt":"2025-06-10T16:26:07","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-pepgen-inc-pepg","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-pepgen-inc-pepg\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against PepGen Inc. (PEPG)"},"content":{"rendered":"
\n

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. (\u201cPepGen\u201d or the \u201cCompany\u201d) (NASDAQ: PEPG) securities between March 7, 2024 and March 3, 2025, both dates inclusive (the \u201cClass Period\u201d).<\/p>\n

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 (\u201cFDA\u201d) approval; (iii) as a result of all the foregoing, PepGen was likely to halt the CONNECT2 study, and PGN-EDO51\u2019s clinical, regulatory, and commercial prospects were overstated; and (iv) as a result, Defendants\u2019 public statements were materially false and misleading at all relevant times.<\/p>\n

On July 30, 2024, PepGen issued a press release announcing purported \u201cpositive clinical data from the first dose cohort (5 mg\/kg) of PGN-EDO51\u201d in its ongoing CONNECT1 study. Among other results, the Company reported that \u201cPGN-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.\u201d However, as subsequently noted by a Stifel analyst, \u201cthe magnitude of dystrophin increase was below what [PepGen] anticipated, which is disappointing[.]\u201d Likewise, a Leerink Partners analyst noted that the low dose missed PepGen\u2019s expectations of 1% or greater dystrophin expression.<\/p>\n

On this news, PepGen\u2019s stock price fell $5.55 per share, or 32.69%, to close at $11.43 per share on July 31, 2024.<\/p>\n

Investors who purchased or otherwise acquired shares of PepGen should contact the Firm prior to the August 8, 2025<\/em><\/strong> 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 tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n

\"\"
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<\/div>\n","protected":false},"excerpt":{"rendered":"

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. (\u201cPepGen\u201d or the \u201cCompany\u201d) (NASDAQ: PEPG) securities between March 7, 2024 and March 3, 2025, both dates inclusive (the \u201cClass Period\u201d). 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 (\u201cFDA\u201d) approval; (iii) as … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against PepGen Inc. (PEPG)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-859167","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against PepGen Inc. 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