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Muscular Dystrophy Drug Developer PepGen Files for $115M IPO

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Biotech group PepGen (PEPG), which is working on a treatment for muscular dystrophy, has filed to hold a $115M initial public offering.

The company, which is developing therapies for neuromuscular and neurological diseases, said in a filing that it plans to raise up to $115M, a number that it likely a placeholder and subject to change. The size and pricing of the deal were not disclosed.

PepGen plans to list its shares on Nasdaq under the symbol PEPG. Underwriters include BofA Securities, SVB Leerink, Stifel and Wedbush PacGrow.

A development stage company, PepGen reported a net loss of $27M for 2021 with no revenue. The company’s lead product, PGN-EDO51, began clinical testing in Q2 for the treatment of Duchenne muscular dystrophy.

For more IPO news, check out SA’s IPO News page.

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Original Post: seekingalpha.com

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Hot Stocks: BIDU Leads Chinese Tech Stocks Higher; PTON, ODFL Rise on Earnings; SNAP Drops

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Stocks surged in the wake of the Federal Reserve’s latest interest rate announcement, with the Nasdaq ending Wednesday’s session higher by 2%. Investors focused on comments from Fed Chair Jerome Powell suggesting that the central bank was starting to make progress in its fight against inflation.

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Article: seekingalpha.com

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U.S. Beginning to Detain Some Chinese Aluminum Imports, Top Shipper Says

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The U.S. has started to detain imports of aluminum products suspected of being made through forced labor, particularly from China’s Xinjiang region, shipper A.P. Moller-Maersk (OTCPK:AMKBY) said Tuesday, according to Bloomberg.

U.S. Customs has begun issuing “detention notices” for such products, the shipper said in an advisory, adding the action probably would target aluminum used in automotive parts.

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Original Article: seekingalpha.com

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Gas Stove Controversy Heats up Again As Second U.S. Agency Proposes Limits

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HJBC/iStock via Getty Images

Gas stoves are coming under renewed scrutiny as the U.S. Department of Energy published a proposal Wednesday for new regulations for the appliances, some of which have never been subject to federal efficiency standards.

The proposed rule-making would set new efficiency standards for both electric and gas cooking tops, preventing them from exceeding set levels of energy use per year.

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Original Source: seekingalpha.com

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