PEPG

MKT CAP:$106M

PepGen Inc.

Market Cap

$106M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$1.61-$5.56 (-77.55%)

Apr 21, 2026

Company Details

PepGen Inc., a clinical-stage biotechnology company, focuses on the development of oligonucleotide therapeutics for use in the treatment of severe neuromuscular and neurologic diseases. The company's lead product candidate is PGN-EDO51, an ...

CEO

James G. McArthur

IPO Date

May 6, 2022

Website

www.pepgen.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$90M

EPS (Diluted)

-$2.41

Free Cash Flow

-$82M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 4, 2026

$0EPS -$2.12

Q4 2025

Mar 4, 2026

$0EPS -$0.27

Q3 2025

Nov 12, 2025

$0EPS -$0.52

Q2 2025

Aug 7, 2025

$0EPS -$0.70

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$14M
Q2 22	$0	$0	-$18M
Q3 22	$0	$0	-$20M
Q4 22	$0	$0	-$17M
Q1 23	$0	$0	-$18M
Q2 23	$0	$0	-$21M
Q3 23	$0	$0	-$25M
Q4 23	$0	-$354.0K	-$21M
Q1 24	$0	-$376.0K	-$20M
Q2 24	$0	$0	-$30M
Q3 24	$0	$0	-$23M
Q4 24	$0	-$380.0K	-$24M
Q1 25	$0	$0	-$31M
Q2 25	$0	$0	-$24M
Q3 25	$0	-$339.0K	-$19M
Q4 25	$0	-$1M	-$20M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$12M	-$14M
Q2 22	-$13M	-$13M
Q3 22	-$21M	-$21M
Q4 22	-$13M	-$14M
Q1 23	-$15M	-$17M
Q2 23	-$18M	-$19M
Q3 23	-$16M	-$17M
Q4 23	-$19M	-$20M
Q1 24	-$23M	-$23M
Q2 24	-$16M	-$16M
Q3 24	-$24M	-$24M
Q4 24	-$19M	-$20M
Q1 25	-$23M	-$23M
Q2 25	-$24M	-$24M
Q3 25	-$19M	-$19M
Q4 25	-$16M	-$16M

Capital Expenditures

Quarter	CapEx
Q1 22	$2M
Q2 22	$609.0K
Q3 22	$430.0K
Q4 22	$1M
Q1 23	$1M
Q2 23	$1M
Q3 23	$225.0K
Q4 23	$184.0K
Q1 24	$53.0K
Q2 24	$31.0K
Q3 24	$185.0K
Q4 24	$228.0K
Q1 25	$125.0K
Q2 25	$43.0K
Q3 25	$97.0K
Q4 25	$1.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+109.6%
Q2 22	—	+239.8%
Q3 22	—	+142.1%
Q4 22	—	+138.7%
Q1 23	—	+29.8%
Q2 23	—	+19.9%
Q3 23	—	+26.7%
Q4 23	—	+20.9%
Q1 24	—	+9.8%
Q2 24	—	+43.9%
Q3 24	—	-6.5%
Q4 24	—	+17.0%
Q1 25	—	+58.2%
Q2 25	—	-21.3%
Q3 25	—	-19.5%
Q4 25	—	-19.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$815.0K	—
Q2 22	$1M	—
Q3 22	$1M	—
Q4 22	$1M	—
Q1 23	$1M	—
Q2 23	$0	—
Q3 23	$0	—
Q4 23	$0	—
Q1 24	$2M	—
Q2 24	$3M	—
Q3 24	$3M	—
Q4 24	$0	—
Q1 25	$3M	—
Q2 25	$2M	—
Q3 25	$0	—
Q4 25	$2M	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$11M	$3M	—
Q2 22	$14M	$3M	—
Q3 22	$16M	$4M	—
Q4 22	$13M	$4M	—
Q1 23	$14M	$4M	—
Q2 23	$17M	$4M	—
Q3 23	$21M	$4M	—
Q4 23	$16M	—	$5M
Q1 24	$14M	$5M	—
Q2 24	$25M	$5M	—
Q3 24	$18M	$5M	—
Q4 24	$19M	—	$5M
Q1 25	$25M	$6M	—
Q2 25	$18M	$6M	—
Q3 25	$13M	$5M	—
Q4 25	$14M	$6M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$119M	$0	$119M
Q2 22	$219M	$0	$219M
Q3 22	$196M	$0	$196M
Q4 22	$182M	$0	$182M
Q1 23	$165M	$0	$165M
Q2 23	$147M	$0	$147M
Q3 23	$130M	$0	$130M
Q4 23	$81M	$30M	$110M
Q1 24	$134M	$41M	$175M
Q2 24	$66M	$95M	$161M
Q3 24	$42M	$97M	$139M
Q4 24	$49M	$71M	$120M
Q1 25	$44M	$54M	$98M
Q2 25	$35M	$40M	$75M
Q3 25	$143M	$21M	$164M
Q4 25	$61M	$88M	$148M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	21M	-8.2%	-8.2%
Q2 22	22M	+7.3%	-1.5%
Q3 22	24M	+6.8%	+5.2%
Q4 22	24M	+0.6%	+5.9%
Q1 23	24M	+0.2%	+15.6%
Q2 23	24M	+0.1%	+7.8%
Q3 23	24M	0.0%	+1.0%
Q4 23	24M	+0.0%	+0.3%
Q1 24	29M	+20.4%	+20.6%
Q2 24	32M	+13.3%	+36.5%
Q3 24	33M	+0.3%	+37.0%
Q4 24	33M	+0.1%	+37.0%
Q1 25	33M	+0.2%	+14.0%
Q2 25	33M	+0.2%	+0.9%
Q3 25	33M	0.0%	+0.5%
Q4 25	42M	+28.9%	+29.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$0	45
Q1 23	$0	45
Q2 23	$0	45
Q3 23	$0	45
Q4 23	$0	64
Q1 24	$0	64
Q2 24	$0	64
Q3 24	$0	64
Q4 24	$0	81
Q1 25	$0	81
Q2 25	$0	81
Q3 25	$0	81
Q4 25	$0	200K

Revenue / Employee