Quarterly ResultMay 12, 2026, 04:13 PM
PepGen Q1 Net Loss Narrows to $17.8M; R&D Expenses Down 48.7%
AI Summary
PepGen Inc. reported a narrowed net loss of $17.8 million for the first quarter of 2026, a significant improvement from the $30.2 million loss in the prior year, primarily driven by a 48.7% reduction in research and development expenses. The company's cash, cash equivalents, and marketable securities stood at $132.3 million as of March 31, 2026, which is expected to fund operations for at least the next 12 months. Additionally, the board approved a stock option repricing in November 2025 for eligible employees, setting a new exercise price of $4.53.
Key Highlights
- Net loss for Q1 2026 narrowed to $17.8 million from $30.2 million in Q1 2025.
- Basic and diluted net loss per share improved to $(0.26) from $(0.92) year-over-year.
- Research and development expenses decreased by 48.7% to $13.0 million in Q1 2026.
- Total operating expenses fell to $18.9 million in Q1 2026 from $31.3 million in Q1 2025.
- Cash, cash equivalents, and marketable securities totaled $132.3 million as of March 31, 2026.
- Net cash used in operating activities decreased to $18.4 million from $22.9 million year-over-year.
- Stock option repricing approved in November 2025, setting new exercise price at $4.53.
- Weighted-average common stock outstanding increased to 69.1 million shares from 32.7 million shares.