Passage Bio reports Q1 2023 net loss of $34.3M; cash runway into H1 2025

Passage BIO, Inc.

2023-Q1 EPS reported -$0.63

Cash, cash equivalents and marketable securities $167.8M as of March 31, 2023, down from $267.1M a year ago; expected to fund operations into first half 2025.
Net loss $34.3M ($0.63 per share) for Q1 2023, compared to $42.8M ($0.79 per share) in Q1 2022.
R&D expenses $16.8M, down from $26.2M YoY; G&A expenses $19.0M, up from $15.1M due to non-recurring Catalent amendment costs.
On track to report interim clinical data for PBGM01 (GM1 gangliosidosis) and PBFT02 (FTD) in 2023; protocol amendment submitted for higher dose of PBGM01.
Initiated fourth global trial site for upliFT-D trial; expect to dose first patient at Dose 3 in second half 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Passage BIO, Inc. reported the quarter ended March 31, 2023 results: net income $34.3 million, EPS $0.63 per basic and diluted share.

Period: the quarter ended March 31, 2023
Net income: $34.3 million
EPS: $0.63 per basic and diluted share
Result: reported results

Exact text from the filing

Net loss was $34.3 million, or a net loss of $0.63 per basic and diluted share, for the quarter ended March 31, 2023, compared to $42.8 million, or a net loss of $0.79 per basic and diluted share, for the same quarter in 2022.

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Source: SEC EDGAR

accession 0001558370-23-009253

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