Passage Bio Q2 net loss $23.9M; GM1 gene therapy shows biomarker normalization at Dose 2; cash runway extended

Passage BIO, Inc.

Net loss $23.9M ($0.44/sh) vs $39.5M ($0.73) in Q2 2022.
Cash and marketable securities $151.5M; cash runway extended into Q4 2025 after restructuring.
Interim GM1 data: PBGM01 well-tolerated; Dose 2 achieved normal CSF β-Gal activity and GM1 ganglioside levels durable to 12mo.
First patient dosed at Dose 3 in July 2023; initial safety/biomarker data expected by mid-2024.
FTD trial PBFT02: initial Cohort 1 data expected Q4 2023; six sites initiated in Brazil, Canada, US.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Passage BIO, Inc. reported the second quarter ended June 30, 2023 results: net income Net loss was $23.9 million, or a net loss of $0.44 per basic and diluted share, EPS $0.44 per basic and diluted share.

Period: the second quarter ended June 30, 2023
Net income: Net loss was $23.9 million, or a net loss of $0.44 per basic and diluted share
EPS: $0.44 per basic and diluted share
Result: reported results

Exact text from the filing

Net loss was $23.9 million, or a net loss of $0.44 per basic and diluted share, for the quarter ended June 30, 2023, compared to $39.5 million, or a net loss of $0.73 per basic and diluted share, for the same quarter in 2022.

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Source: SEC EDGAR

accession 0001558370-23-013486

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