Passage Bio reports FY2023 net loss of $102.1M, appoints Kathleen Borthwick as CFO; cash runway into Q4 2025

Passage BIO, Inc.

Cash, cash equivalents and marketable securities $114.3M as of Dec 31, 2023; cash runway expected into Q4 2025.
FY2023 net loss $102.1M ($1.86 per share); FY2022 net loss $136.1M ($2.50 per share).
Kathleen Borthwick appointed as permanent CFO effective March 1, 2024; base salary $422,240 plus options.
PBFT02 for FTD-GRN shows CSF progranulin elevated to supraphysiologic levels; cohort 1 dosing completion expected 1H 2024.
Company evaluating PBFT02 for FTD-C9orf72, ALS, and Alzheimer's; seeking regulatory feedback in 2H 2024.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Kathleen Borthwick

Chief Financial Officer

PASG · Passage BIO, Inc.

Effective: 2024-03-01
Filed: March 4, 2024, 6:59 PM ET

On March 1, 2024 (the “Effective Date”), Kathleen Borthwick, the Company’s current Senior Vice President and Interim Chief Financial Officer was appointed to serve as Chief Financial Officer.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.96

Passage BIO, Inc. reported Quarter ended December 31, 2023 results: net income Net loss was $16.8 million, or $0.30 per basic and diluted share, for the quarter ended December 31, 2023.

Period: Quarter ended December 31, 2023
Net income: Net loss was $16.8 million, or $0.30 per basic and diluted share, for the quarter ended December 31, 2023
Result: reported results

Exact text from the filing

Net loss was $16.8 million, or $0.30 per basic and diluted share, for the quarter ended December 31, 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Passage BIO, Inc. reported Year ended December 31, 2023 results: net income Net loss was $16.8 million, or $0.30 per basic and diluted share, for the quarter ended December 31, 2023 and $102.1 mil.

Period: Year ended December 31, 2023
Net income: Net loss was $16.8 million, or $0.30 per basic and diluted share, for the quarter ended December 31, 2023 and $102.1 mil
Result: reported results

Exact text from the filing

Net loss was $16.8 million, or $0.30 per basic and diluted share, for the quarter ended December 31, 2023 and $102.1 million, or $1.86 per basic and diluted share, for the year ended December 31, 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Passage BIO, Inc. reported Fourth Quarter and Full-Year 2023 results: net income Net loss was $16.8 million, or $0.30 per basic and diluted share, for the quarter ended December 31, 2023 and $102.1 mil.

Period: Fourth Quarter and Full-Year 2023
Net income: Net loss was $16.8 million, or $0.30 per basic and diluted share, for the quarter ended December 31, 2023 and $102.1 mil
Result: reported results

Exact text from the filing

Passage Bio, Inc. (Nasdaq: PASG), a clinical-stage genetic medicines company focused on improving the lives of patients with neurodegenerative diseases, today reported financial results for the fourth quarter and year ended December 31, 2023

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kathleen Borthwick was appointed as Chief Financial Officer at Passage BIO, Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On March 1, 2024 (the “Effective Date”), Kathleen Borthwick, the Company’s current Senior Vice President and Interim Chief Financial Officer was appointed to serve as Chief Financial Officer.

View on SEC.gov

23 earnings releases filed in the last 30 days. Browse all earnings releases →

Passage BIO, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-002309

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