Passage BIO, Inc. (PASG): restructuring charge — Passage Bio cuts ~75% of workforce, expects $3.3M in severance costs

Passage BIO, Inc.

Workforce reduction of approximately 75%; substantial completion expected in Q2 and Q3 2026.
Aggregate severance and exit costs estimated at $3.3 million, primarily recorded in Q2 2026.
Restructuring part of previously announced strategic alternatives review to maximize shareholder value.
Severance benefits contingent on execution of release of claims by impacted employees.

item 2.05

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Passage BIO, Inc. announced a restructuring with charges of approximately $3.3 million (approximately 75%).

Type: restructuring
Charge: approximately $3.3 million
Headcount: approximately 75%

Exact text from the filing

The Company expects that the aggregate severance and exit costs for the Restructuring Plan will be approximately $3.3 million, which will be recorded primarily in the second quarter of 2026.

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3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Passage BIO, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-26-049755

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