PepGen Inc. Class Action Lawsuit - PEPG
Case Summary
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The PepGen class action lawsuit seeks to represent purchasers or acquirers of PepGen Inc. (NASDAQ: PEPG) securities between March 7, 2024 and March 3, 2025, inclusive (the “Class Period”). Captioned Karam v.PepGen Inc., No. 25-cv-03221 (E.D.N.Y.), the PepGen class action lawsuit charges PepGen and certain of PepGen’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the PepGen class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the PepGen class action lawsuit must be filed with the court no later than August 8, 2025.
CASE ALLEGATIONS: PepGen is a clinical-stage biotechnology company that develops oligonucleotide therapeutics for the treatment of severe neuromuscular and neurologic diseases. According to the complaint, PepGen’s lead product candidate was PGN-EDO51, a proprietary enhanced delivery oligonucleotide (“EDO”) peptide for the treatment of Duchenne muscular dystrophy (“DMD”).
The PepGen class action lawsuit alleges that defendants throughout the Class Period 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) PepGen’s CONNECT2 study was dangerous or otherwise deficient for purposes of U.S. Food and Drug Administration (“FDA”) approval; and (iii) as a result, PepGen was likely to halt the CONNECT2 study, and PGN-EDO51’s clinical, regulatory, and commercial prospects were overstated.
The PepGen class action lawsuit further alleges that on July 30, 2024, PepGen announced purported “positive clinical data from the first dose cohort (5 mg/kg) of PGN-EDO51” in its ongoing CONNECT1 study, including that “PGN-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.” However, according to the complaint, as subsequently noted by a Stifel analyst, “the magnitude of dystrophin increase was below what [PepGen] anticipated, which is disappointing.” On this news, the price of PepGen stock fell nearly 33%, according to the PepGen class action lawsuit.
Then, on December 16, 2024, PepGen announced that it had received a clinical hold notice from the FDA regarding an Investigational New Drug application “to initiate the [CONNECT2] clinical trial in patients with [DMD]” in the United States, indicating that the FDA had concerns regarding risks posed to patients in the CONNECT2 study and/or there were other deficiencies associated with the study, the PepGen class action lawsuit alleges. On this news, the price of PepGen stock fell further, according to the complaint.
Thereafter, on January 29, 2025, the PepGen class action lawsuit further alleges that PepGen disclosed that, regarding the CONNECT1 study, “[d]osing of one of the[] . . . participants [in the 10 mg/kg cohort] was paused due to a reduction of his estimated glomerular filtration rate,” and that PepGen “ha[d] received communication from Health Canada . . . request[ing] additional information from the Company to address Health Canada’s safety concerns before any further dose escalation or enrollment of any additional participants at the current dose levels.” Regarding the CONNECT2 study, PepGen disclosed that “[t]he Company is working with the FDA to address its questions regarding supportive data for the dosing levels planned for the patient population,” according to the complaint. The PepGen class action lawsuit alleges that on this news, the price of PepGen stock fell nearly 22%.
Finally, the PepGen class action lawsuit alleges that on March 4, 2025, PepGen issued a press release “announc[ing] its voluntary decision to temporarily pause the [CONNECT2] study . . . until the Company can review results from the 10 mg/kg cohort in the ongoing [CONNECT1] study.” On this news, the price of PepGen stock fell nearly 19%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired PepGen securities during the Class Period to seek appointment as lead plaintiff in the PepGen class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the PepGen class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the PepGen class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the PepGen class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.