Passage Bio terminates Hopewell lease; pays $4.8M fee, cash runway to Q1 2027

Passage BIO, Inc.

Terminated 62,000 sq ft lab lease (15-year term from March 2021) via Termination Agreement dated March 4, 2026.
Company paid ~$4.8M termination fee plus accrued rent through February 14, 2026.
All operations at Hopewell facility ceased after January 2025 restructuring.
Company expects existing cash to fund operations through Q1 2027, but actual burn may differ.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

Passage BIO, Inc. terminated Hopewell Lease Termination Agreement with Hopewell Campus Owner LLC valued at termination fee of approximately $4.8 million plus accrued rent through February 14, 2026 (effective 2026-03-04).

Action: termination
Agreement: lease
Counterparty: Hopewell Campus Owner LLC
Value: termination fee of approximately $4.8 million plus accrued rent through February 14, 2026
Effective: 2026-03-04

Exact text from the filing

On March 4, 2026, Passage Bio, Inc. (the "Company") and Hopewell Campus Owner LLC (the "Landlord") entered into a lease termination agreement (the "Termination Agreement") with respect to that certain lease agreement dated December 15, 2020 between the Company and Landlord (the "Hopewell Lease").

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Passage BIO, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-26-025550

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