PepGen Inc. overstated prospects for its leading product candidate to treat a muscle-degenerating genetic disorder before facing negative responses to its clinical trial data and ultimately stopping its development, a proposed class action said.
Share prices plunged almost 33% to close at $11.43 the day after the biotechnology company posted data from a clinical trial of the treatment, which drew disappointing comments from analysts, said the investor’s complaint filed in the US District Court for the Eastern District of New York on Monday. It was the stock’s steepest single-day slide since its 2022 market debut, according to data compiled by ...
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