PepGen (PEPG) Balance Sheet: Assets & Liabilities

PepGen (PEPG) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), PepGen reported total assets of $173.91M and total liabilities of $26.46M. Shareholders' equity was $147.44M, up 24.3% from $118.62M a year earlier. Total debt stood at $17.00M against $148.46M in cash and short-term investments, a net cash position of $131.45M. That puts debt-to-equity at 0.12, compared with 0.16 a year earlier.

PepGen Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for PepGen Inc. (PEPG) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Current Assets
Cash and Cash Equivalents	60.51	49.42	80.77	181.75	132.90	9.78	3.49
Short-Term Investments	87.94	70.77	29.63	0.00	0.00	0.00	0.00
Cash & Short-Term Investments	148.46	120.19	110.41	181.75	132.90	9.78	3.49
Accounts Receivable	0.00	0.00	0.00	0.06	4.74	0.41	0.00
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	2.51	3.57	2.27	4.33	2.35	0.13	0.28
Total Current Assets	150.96	123.76	112.68	186.08	139.99	10.32	3.77
Non-Current Assets
Property, Plant & Equipment (Net)	21.02	25.15	28.38	29.88	0.64	0.32	0.42
Long-Term Investments	0.00	0.00	0.00	0.00	1.47	0.00	0.00
Other Non-Current Assets	1.92	1.97	1.99	1.47	3.02	0.00	0.00
Total Non-Current Assets	22.94	27.12	30.37	31.36	3.66	0.32	0.42
Total Assets	173.91	150.88	143.05	217.44	143.64	10.64	4.19
Current Liabilities
Accounts Payable	0.82	1.75	1.01	1.36	3.24	0.72	0.14
Short-Term Debt	3.19	3.09	3.00	5.55	0.00	0.00	0.00
Accrued Liabilities	3.97	11.85	11.15	6.90	7.08	0.12	-
Other Current Liabilities	8.64	11.85	13.52	9.34	7.08	0.12	0.19
Total Current Liabilities	12.65	16.70	17.53	18.83	10.32	0.84	0.33
Non-Current Liabilities
Long-Term Debt	13.82	15.57	17.10	18.98	0.00	0.00	0.00
Other Non-Current Liabilities	0.00	0.00	0.00	0.00	0.23	0.03	0.00
Total Non-Current Liabilities	13.82	15.57	17.10	18.98	0.23	0.03	0.00
Total Liabilities	26.46	32.26	34.63	37.81	10.32	0.87	0.33
Stockholders' Equity
Common Stock	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Retained Earnings	-361.12	-271.46	-181.48	-102.86	-33.75	-6.47	-2.39
Accumulated Other Comprehensive Income	0.01	0.02	0.03	-0.08	0.02	-0.01	-0.01
Additional Paid-in Capital	508.54	390.06	289.87	282.57	1.65	0.12	6.27
Shares Outstanding	68.87	32.62	23.82	23.71	20.56	-	-
Total Stockholders' Equity	147.44	118.62	108.42	179.63	133.32	9.77	3.87
Total Liabilities & Equity	173.91	150.88	143.05	217.44	143.64	10.64	4.19

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About PepGen Balance Sheet

How much debt does PepGen have?

PepGen had total debt of $17.00M as of Dec 31, 2025, against $148.46M in cash and short-term investments. Its debt-to-equity ratio was 0.12. Total debt was $18.66M a year earlier.

What are PepGen's total assets?

PepGen reported total assets of $173.91M as of Dec 31, 2025, up 15.3% from $150.88M a year earlier. Total liabilities were $26.46M.

What is PepGen's shareholders' equity?

PepGen's shareholders' equity was $147.44M as of Dec 31, 2025, or about $2.14 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition