Biotech Firm PepGen Prices US$108 Million IPO

Biopharmaceutical company PepGen, Inc. (Nasdaq: PEPG) began trading on the Nasdaq Global Select Market on Friday. The firm’s initial public offering is looking to raise US$108.0 million and is expected to close on May 10, 2022.

The offering consists of 9.0 million common shares selling at US$12.00 per share.

BofA Securities, SVB Securities, and Stifel act as the joint bookrunners for the said offering. The underwriters were granted a 30-day over-allotment option to purchase additional 1.35 million shares at the same IPO price.

The Boston-based biotech company is working on oligonucleotide therapies for the treatment of severe neuromuscular and neurological diseases. Its focus revolves around Enhanced Deliver Oligonucleotide platform, which mainly leverages cell-penetrating peptides to improve the uptake and activity of conjugated oligonucleotide therapeutics.

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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