---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-082546"
form_type: "8-K"
ticker: "PASG"
cik: "0001787297"
company_name: "Passage BIO, Inc."
filed_at: "2023-07-20T23:59:59+00:00"
generated_at: "2026-06-13T05:43:01.759746+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Passage Bio announces CFO/CTO departures, 26% workforce reduction, extends cash runway into Q4 2025

## Summary
- CFO Simona King and CTO Alex Fotopoulos to depart July 28, 2023; Fotopoulos may consult through July 2024.
- Kathleen Borthwick appointed Interim CFO; base salary $382k, monthly stipend $2k, 35% bonus target, 20k stock options.
- Workforce reduced by ~26% primarily in CMC group to cut operating expenses.
- Cash, equivalents, and marketable securities now expected to fund operations into Q4 2025, beyond multiple clinical milestones.

## SEC filing metadata
- accession: 0001104659-23-082546
- form_type: 8-K
- ticker: PASG
- cik: 0001787297
- company_name: Passage BIO, Inc.
- filed_at: 2023-07-20T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1787297/000110465923082546/0001104659-23-082546-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1787297/000110465923082546/tm2321606d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-082546
- JSON: https://secwatch.observer/filing/0001104659-23-082546.json
- Plain text: https://secwatch.observer/filing/0001104659-23-082546.txt

## Key facts
- Executive change
  Simona King departed as Chief Financial Officer at Passage BIO, Inc..
  - Action: separated
  - Role: Chief Financial Officer
  source text: Simona King, the Company’s Chief Financial Officer, and Alex Fotopoulos, the Company’s Chief Technical Officer, will separate from the Company, effective on or about July 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1787297/000110465923082546/0001104659-23-082546-index.htm
- Executive change
  Alex Fotopoulos departed as Chief Technical Officer at Passage BIO, Inc..
  - Action: separated
  - Role: Chief Technical Officer
  source text: Simona King, the Company’s Chief Financial Officer, and Alex Fotopoulos, the Company’s Chief Technical Officer, will separate from the Company, effective on or about July 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1787297/000110465923082546/0001104659-23-082546-index.htm
- Executive change
  Kathleen Borthwick was appointed as Senior Vice President and Interim Chief Financial Officer at Passage BIO, Inc..
  - Action: appointed
  - Role: Senior Vice President and Interim Chief Financial Officer
  source text: On July 15, 2023, Kathleen Borthwick, the current Vice President, Finance of the Company was appointed to serve as Senior Vice President and Interim Chief Financial Officer, effective on or about July 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1787297/000110465923082546/0001104659-23-082546-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.