PepGen Inc. (NASDAQ: PEPG) saw its stock price skyrocket by 114% after announcing exceptional results from its FREEDOM-DM1 Phase I clinical trial for myotonic dystrophy type 1. The trial demonstrated a 53.7% average splicing correction rate at a 15 mg/kg dose of PGN-EDODM1, surpassing previous outcomes. Patients in the highest dose group experienced no serious adverse events, indicating good tolerance.
In addition to the trial success, PepGen raised $100 million through the issuance of 31.25 million shares at $3.20 each. The funds will support the continued development of its DM1 program, further bolstering investor confidence.
PepGen Stock Soars 114% Following Positive DM1 Trial Results
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