Passage Bio cuts workforce 55%, extends cash runway into Q1 2027; updates PBFT02 data

Passage BIO, Inc.

Preliminary cash $76.8M as of Dec 31, 2024; expected runway into Q1 2027 after restructuring.
Workforce reduced ~55%; lab operations in Hopewell, NJ ceased; annual cost savings $9-11M; severance $2M.
Expects $1-3M impairment on lab equipment in Q1 2025; non-cash, no impact on cash runway.
PBFT02 (FTD-GRN) interim data: CSF PGRN increased from <3 to 13-27 ng/mL at 6 months (n=4), durable to 18 months.
Plasma NfL decreased 13% vs baseline at 12 months (n=2); vs 29% annual increase in untreated per literature.

item 2.02 item 2.05 item 2.06 item 7.01 item 8.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.