PepGen(PEPG)2024-11-07 13:00Financial Performance - Net Loss was $21.4 million, or $(0.66) per share, for the three months ended September 30, 2024, compared to a net loss of $23.3 million, or $(0.98) per share, for the same period in 2023[8] - Total operating expenses for the three months ended September 30, 2024, were $23.2 million, compared to $24.8 million for the same period in 2023, a decrease of approximately 6.5%[14] Cash Position - Cash, Cash Equivalents, and Marketable Securities were $138.9 million as of September 30, 2024, expected to fund operations into 2026[8] Research and Development - Research and Development Expenses decreased to $17.7 million for the three months ended September 30, 2024, from $20.5 million in the same period in 2023, a reduction of approximately 13.9%[8] - The FREEDOM-DM1 study is evaluating PGN-EDODM1 in approximately 32 adult patients with DM1, with data from the 5 mg/kg and 10 mg/kg cohorts expected by the end of the first quarter of 2025[3] - The CONNECT1-EDO51 study has been optimized based on encouraging results from the 5 mg/kg cohort, with results from the expanded 10 mg/kg cohort expected before year-end 2025[5] - The Company expects to initiate dosing in the Phase 2 FREEDOM2-DM1 trial by year-end 2024, involving approximately 24 adult patients with DM1[4] - Paul Streck, MD, MBA, was appointed as the head of R&D, bringing over 20 years of experience in drug development[7] - The Company presented scientific and clinical data at various medical conferences, including the 29th Annual Congress of the World Muscle Society[7] Administrative Expenses - General and Administrative Expenses increased to $5.4 million for the three months ended September 30, 2024, compared to $4.2 million for the same period in 2023, an increase of approximately 28.6%[8]