PepGen(PEPG)2024-08-08 12:01Financial Performance - As of June 30, 2024, cash, cash equivalents, and marketable securities totaled $161.3 million, expected to fund operations into 2026[9] - The net loss for the quarter was $28.3 million, or $(0.87) per share, compared to a net loss of $19.5 million, or $(0.82) per share, in the same quarter of 2023[9] - Total operating expenses for the quarter were $30.4 million, compared to $21.1 million in the same period of 2023, reflecting a 43.8% increase[15] Research and Development - Research and Development expenses for the quarter were $25.1 million, up from $16.9 million in the same period of 2023, representing a 48.5% increase[9] - Initial dosing for the FREEDOM2-DM1 clinical trial is expected in the second half of 2024 following regulatory clearance[6] - The company anticipates reporting clinical results from the FREEDOM-DM1 trial in the fourth quarter of 2024[5] - PGN-EDO51 achieved a mean exon skipping level of 2.15% and a mean muscle-adjusted dystrophin production increase of 0.70% from baseline after three months of dosing[3] - The Phase 2 CONNECT1-EDO51 trial reported that PGN-EDO51 was well tolerated with no discontinuations or dose interruptions[3] - The company plans to present additional results from the 5 mg/kg cohort at a medical meeting later in 2024[4] Administrative Expenses - General and Administrative expenses increased to $5.4 million from $4.2 million year-over-year, a rise of 28.6%[9]