A PepGen Inc. shareholder is dropping allegations the biotechnology company overstated prospects for a muscle-degenerating genetic disorder therapy before announcing underwhelming trial results and its discontinuation.
The investor decided against filing a renewed complaint after being appointed lead plaintiff, said the stipulation filed in the US District Court for the District of Massachusetts Tuesday to dismiss the proposed class action. Stockholder Johnny Karam’s originating complaint alleged PepGen and top executives overhyped the potential Duchenne muscular dystrophy therapy’s efficacy and clinical, regulatory, and commercial prospects, plus misled investors about study results.
- PepGen’s stock price plunged on multiple days in 2024 and ...