Passage Bio, Inc.
7.43-0.23 (-3%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · PASG · USD
Key Stats
Market Cap
23.62MP/E (TTM)
0.19Basic EPS (TTM)
39.40Dividend Yield
0%Recent Filings
8-K
Director resigns; board adjusts
Passage Bio's board shrank to seven members on September 16, 2025, after director Saqib Islam resigned immediately from the board and audit committee, citing no disagreements with company operations. Athena Countouriotis, M.D., stepped in to fill the audit committee vacancy. Resignation smooth. This tweak maintains governance continuity amid biotech pressures.
10-Q
Q2 FY2025 results
Passage Bio narrowed its operating loss to $10.3M in Q2 FY2025 ended June 30, 2025, from $17.4M y/y, driven by 44% lower R&D spend at $5.8M after a 55% workforce cut and lab closure, while G&A fell 31% to $4.5M; y/y net loss improved 41% to $9.4M, or $(2.96) diluted EPS on 3.2M shares, versus $(5.09) last year. YTD through June, operating loss shrank 24% to $26.8M from $35.4M y/y, with R&D down 38% to $13.6M and G&A off 19% to $10.6M, though a $2.6M asset impairment hit from the January restructuring; net loss eased 24% to $24.8M, or $(7.83) diluted EPS, consistent with 3.2M shares and no anti-dilution. Cash climbed to $57.6M from $37.6M at year-end, funding operations into Q1 2027, bolstered by $9.7M in non-refundable Gemma sublicense payments for outlicensed pediatric programs, while sublease income added $0.7M YTD. The January amendments to Gemma sublicenses secured $5M more upfront for clinical supply, with $5M due on a qualified financing and $5M contingent on milestones. Yet clinical progress on PBFT02 for FTD-GRN faces risks from serious adverse events like venous sinus thrombosis in three of eight patients.
8-K
PBFT02 trial dosing complete
Passage Bio completed dosing in Cohort 2 of its upliFT-D Phase 1/2 trial for PBFT02 in FTD-GRN patients on August 12, 2025, showing robust, durable CSF PGRN elevations through 18 months and reduced plasma NfL progression versus natural history. The company submitted an amended protocol to enable enrollment of prodromal patients and start FTD-C9orf72 cohorts, while cutting R&D expenses to $5.8 million from $10.4 million year-over-year. Cash stands at $57.6 million, funding operations into Q1 2027. Data advances PBFT02's potential in neurodegeneration.
8-K
Regains Nasdaq compliance
Passage Bio regained Nasdaq compliance on July 28, 2025, after its common stock closed at or above $1.00 per share for 10 straight business days, ending a deficiency flagged in August 2024 when the bid price dipped below the minimum for 30 days. The Nasdaq staff closed the listing matter, confirming the company meets all other criteria for the Capital Market. Compliance restored. This averts delisting risks and stabilizes investor access.
8-K
Reverse split for Nasdaq compliance
Passage Bio implemented a 1-for-20 reverse stock split effective July 14, 2025, slashing outstanding shares from 62,405,898 to about 3,120,295. This move aims to meet Nasdaq's $1.00 minimum bid price rule after board approval on June 26. Ownership percentages stay intact, but fractional shares round up. Compliance hangs on sustained price gains.
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