secwatch.observer — SEC 8-K summary
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Issuer:     Passage BIO, Inc. (PASG)
CIK:        0001787297
Form:       8-K
Filed at:   2023-04-06T23:59:59+00:00
Accession:  0001558370-23-005571
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Passage Bio amends Catalent agreements, eliminates $10.6M annual minimum purchase obligation
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- Eliminated $10.6M/year minimum purchase obligation and Clean Room Suite fee through Nov 2025.
- Company to pay Catalent $6.0M total between June 2023 and May 2024 in consideration.
- Extended term to Nov 6, 2030; limited exclusive relationship for AAV product candidates for FTD and GM1.
- Exclusive relationship may convert to non-exclusive if Catalent fails performance standards or upon certain divestiture events.
- Company may terminate for convenience in certain transactions, subject to termination fee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1787297/000155837023005571/0001558370-23-005571-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1787297/000155837023005571/pasg-20230331x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-005571

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer