PepGen (PEPG) shares fell about 59% in Tuesday trading after the company reported data from the lowest-dose cohort of its ongoing phase 2 FREEDOM2 study evaluating PGN-EDODM1 in patients with myotonic dystrophy type 1.

In patients treated at 5 mg/kg, mean splicing correction was 7.3% versus 6.8% with placebo, the company said late Monday, adding that mean splicing correction was 22.9% after excluding one outlier who exhibited a worsening in splicing correction of 70.8%.

PGN-EDODM1 was generally well tolerated, with no serious adverse events, according to a statement.

The company said dosing continues in the 10 mg/kg multiple ascending dose cohort, with data expected in the second half of 2026. Current cash should fund operations into the second half of 2027, it added.

Price: 1.76, Change: -2.47, Percent Change: -58.39