---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-002278"
form_type: "8-K"
ticker: "PASG"
cik: "0001787297"
company_name: "Passage BIO, Inc."
filed_at: "2025-01-10T23:59:59+00:00"
generated_at: "2026-05-28T05:24:57.897969+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-002278
- form_type: 8-K
- ticker: PASG
- cik: 0001787297
- company_name: Passage BIO, Inc.
- filed_at: 2025-01-10T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.05, 2.06, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1787297/000110465925002278/0001104659-25-002278-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1787297/000110465925002278/tm252728d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-002278
- JSON: https://secwatch.observer/filing/0001104659-25-002278.json
- Plain text: https://secwatch.observer/filing/0001104659-25-002278.txt

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