NASDAQ : PEPG
PepGen Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 2.41 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 166.92M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Selling, General & Admin | 23.44M | 22.57M | 21.26M | 16.64M | 14.22M | 8.11M |
| Research & Development | 52.80M | 71.04M | 76.48M | 68.13M | 54.08M | 19.00M |
| Operating Expenses | 76.24M | 93.61M | 97.74M | 84.77M | 68.30M | 27.11M |
| Operating Income | -76.24M | -93.61M | -97.74M | -84.77M | -68.30M | -27.11M |
| Interest & Investment Income | 4.40M | 4.02M | 7.14M | 6.40M | 2.79M | |
| Other Non Operating Income (Expenses) | -16.00K | -11.00K | -1.00K | -187.00K | 110.00K | -172.00K |
| Pretax Income | -71.86M | -89.61M | -90.60M | -78.55M | -65.40M | -27.28M |
| Income Tax Expense | 80.00K | 49.00K | -617.00K | 73.00K | 3.71M | |
| Net Income | -71.94M | -89.66M | -89.98M | -78.63M | -69.10M | -27.28M |
| Net Income to Common | -71.94M | -89.66M | -89.98M | -78.63M | -69.10M | -27.28M |
| Shares Outstanding (Basic) | 60.44M | 42.22M | 31.58M | 23.80M | 15.64M | 901.11K |
| Shares Outstanding (Diluted) | 60.44M | 42.22M | 31.58M | 23.80M | 15.64M | 901.11K |
| EPS (Basic) | -1.19 | -2.12 | -2.85 | -3.30 | -4.42 | -30.27 |
| EPS (Diluted) | -1.19 | -2.12 | -2.85 | -3.30 | -4.42 | -30.27 |
| Free Cash Flow | -69.46M | -81.90M | -82.87M | -71.60M | -63.02M | -23.10M |
| Free Cash Flow Per Share | -1.15 | -1.94 | -2.62 | -3.01 | -4.03 | -25.63 |
| EBITDA | -74.99M | -92.22M | -96.23M | -83.58M | -67.81M | -26.93M |
| D&A For EBITDA | 1.25M | 1.40M | 1.50M | 1.18M | 493.00K | 178.00K |
| EBIT | -76.24M | -93.61M | -97.74M | -84.77M | -68.30M | -27.11M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 22.76M | 60.51M | 49.42M | 80.77M | 181.75M | 132.90M |
| Short-Term Investments | 94.47M | 87.94M | 70.77M | 29.63M | ||
| Cash & Short-Term Investments | 117.24M | 148.46M | 120.19M | 110.41M | 181.75M | 132.90M |
| Other Receivables | 4.74M | |||||
| Receivables | 4.74M | |||||
| Prepaid Expenses | 3.09M | 2.51M | 3.57M | 2.27M | 4.33M | 2.35M |
| Total Current Assets | 120.33M | 150.96M | 123.76M | 112.68M | 186.08M | 139.99M |
| Property, Plant & Equipment | 19.25M | 21.02M | 25.15M | 28.38M | 29.88M | 636.00K |
| Long-Term Deferred Charges | 265.00K | 372.00K | 1.50M | |||
| Other Long-Term Assets | 1.55M | 1.55M | 1.97M | 1.99M | 1.47M | 1.52M |
| Total Assets | 141.40M | 173.91M | 150.88M | 143.05M | 217.44M | 143.64M |
| Accounts Payable | 1.09M | 822.00K | 1.75M | 1.00M | 1.36M | 3.24M |
| Accrued Expenses | 4.68M | 8.64M | 11.85M | 13.52M | 9.34M | 7.08M |
| Current Portion of Leases | 3.23M | 3.19M | 3.09M | 3.00M | 5.55M | |
| Current Income Taxes Payable | 2.57M | |||||
| Total Current Liabilities | 9.01M | 12.65M | 16.70M | 17.53M | 18.83M | 10.32M |
| Long-Term Leases | 12.86M | 13.82M | 15.57M | 17.10M | 18.98M | |
| Total Liabilities | 21.86M | 26.46M | 32.26M | 34.63M | 37.81M | 10.32M |
| Common Stock | 7.00K | 7.00K | 3.00K | 2.00K | 2.00K | |
| Additional Paid-In Capital | 516.34M | 508.54M | 390.06M | 289.87M | 282.57M | 1.65M |
| Retained Earnings | -396.69M | -361.12M | -271.46M | -181.48M | -102.86M | -33.75M |
| Comprehensive Income & Other | -117.00K | 11.00K | 23.00K | 34.00K | -81.00K | 17.00K |
| Total Common Equity | 119.53M | 147.44M | 118.62M | 108.42M | 179.63M | -32.08M |
| Shareholders' Equity | 119.53M | 147.44M | 118.62M | 108.42M | 179.63M | 133.32M |
| Total Liabilities & Equity | 141.40M | 173.91M | 150.88M | 143.05M | 217.44M | 143.64M |
| Total Debt | 16.09M | 17.00M | 18.66M | 20.10M | 24.53M | |
| Net Cash (Debt) | 101.14M | 131.45M | 101.53M | 90.30M | 157.22M | 132.90M |
| Net Cash Per Share | 1.67 | 3.11 | 3.21 | 3.79 | 10.05 | 147.48 |
| Filing Date Shares Outstanding | 69.26M | 69.12M | 32.69M | 32.35M | 23.78M | 963.60K |
| Total Common Shares Outstanding | 69.17M | 68.87M | 32.62M | 23.82M | 23.71M | 963.60K |
| Working Capital | 111.32M | 138.32M | 107.06M | 95.15M | 167.25M | 129.66M |
| Book Value Per Share | 1.73 | 2.14 | 3.64 | 4.55 | 7.58 | -33.29 |
| Tangible Book Value | 119.53M | 147.44M | 118.62M | 108.42M | 179.63M | -32.08M |
| Tangible Book Value Per Share | 1.73 | 2.14 | 3.64 | 4.55 | 7.58 | -33.29 |
| Machinery | 5.82M | 5.79M | 6.67M | 6.27M | 2.60M | 1.07M |
| Construction In Progress | 20.00K | 96.00K | 69.00K | 1.13M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -71.94M | -89.66M | -89.98M | -78.63M | -69.10M | -27.28M |
| Depreciation & Amortization | 1.25M | 1.40M | 1.50M | 1.18M | 493.00K | 178.00K |
| Loss (Gain) From Sale of Assets | 134.00K | |||||
| Asset Writedown & Restructuring Costs | 701.00K | |||||
| Loss (Gain) From Sale of Investments | -2.78M | -2.21M | -3.92M | -220.00K | ||
| Stock-Based Compensation | 10.98M | 10.61M | 11.46M | 7.05M | 4.76M | 1.53M |
| Other Operating Activities | 3.75M | 3.75M | 3.82M | -334.00K | -58.00K | 196.00K |
| Change in Accounts Receivable | 4.18M | -4.34M | ||||
| Change in Accounts Payable | 179.00K | -935.00K | 722.00K | -369.00K | -1.41M | 2.51M |
| Change in Other Net Operating Assets | -10.78M | -5.29M | -5.97M | 2.32M | 1.73M | 4.61M |
| Operating Cash Flow | -69.34M | -81.64M | -82.37M | -69.00M | -59.27M | -22.60M |
| Capital Expenditures | -126.00K | -264.00K | -497.00K | -2.60M | -3.75M | -500.00K |
| Investment in Securities | -52.19M | -14.97M | -37.17M | -29.40M | ||
| Investing Cash Flow | -52.32M | -15.23M | -37.67M | -32.00M | -3.75M | -500.00K |
| Issuance of Common Stock | 109.92M | 108.39M | 89.26M | 253.00K | 114.89M | |
| Other Financing Activities | -588.00K | -413.00K | -511.00K | -442.00K | -2.70M | -1.39M |
| Financing Cash Flow | 109.33M | 107.98M | 88.75M | -189.00K | 112.19M | 147.66M |
| Foreign Exchange Rate Adjustments | 10.00K | -16.00K | -62.00K | 286.00K | -316.00K | 33.00K |
| Net Cash Flow | -12.31M | 11.09M | -31.35M | -100.90M | 48.86M | 124.59M |
| Free Cash Flow | -69.46M | -81.90M | -82.87M | -71.60M | -63.02M | -23.10M |
| Free Cash Flow Per Share | -1.15 | -1.94 | -2.62 | -3.01 | -4.03 | -25.63 |
| Levered Free Cash Flow | -43.25M | -49.85M | -50.85M | -44.03M | -35.47M | -12.80M |
| Unlevered Free Cash Flow | -43.25M | -49.85M | -50.85M | -44.03M | -35.47M | -12.80M |
| Cash Income Tax Paid | 45.00K | 82.00K | 71.00K | 2.70M | ||
| Change in Working Capital | -10.60M | -6.22M | -5.25M | 1.95M | 4.51M | 2.77M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 162.76M | 447.55M | 123.54M | 161.93M | 315.96M | |
| Enterprise Value | 61.61M | 301.32M | 3.72M | 52.83M | 120.18M | |
| Last Close Price | 2.36 | 6.51 | 3.79 | 6.80 | 13.37 | |
| PB Ratio | 1.37 | 3.04 | 1.04 | 1.49 | 1.76 | |
| P/TBV Ratio | 1.37 | 3.04 | 1.04 | 1.49 | 1.76 | |
| Debt / Equity Ratio | 0.14 | 0.12 | 0.16 | 0.18 | 0.14 | |
| Net Debt / Equity Ratio | -0.85 | -0.89 | -0.86 | -0.83 | -0.88 | -1.00 |
| Net Debt / EBITDA Ratio | 1.35 | 1.43 | 1.05 | 1.08 | 2.32 | 4.93 |
| Net Debt / FCF Ratio | 1.46 | 1.60 | 1.23 | 1.26 | 2.50 | 5.75 |
| Quick Ratio | 13.02 | 11.74 | 7.20 | 6.30 | 9.65 | 13.34 |
| Current Ratio | 13.36 | 11.94 | 7.41 | 6.43 | 9.88 | 13.56 |
| Return on Equity (ROE) | -75.45% | -67.39% | -79.26% | -54.59% | -44.16% | -38.12% |
| Return on Assets (ROA) | -39.12% | -36.03% | -41.57% | -29.39% | -23.64% | -21.96% |
| Return on Capital Employed (ROCE) | -57.60% | -58.00% | -72.80% | -67.50% | -34.40% | -20.30% |
| Earnings Yield | -50.65% | -20.03% | -72.84% | -48.55% | -21.87% | |
| FCF Yield | -42.50% | -18.30% | -67.08% | -44.21% | -19.95% | |
| Buyback Yield / Dilution | -85.07% | -33.68% | -32.72% | -52.15% | -1,635.61% | -3.62% |