---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-002309"
form_type: "8-K"
ticker: "PASG"
cik: "0001787297"
company_name: "Passage BIO, Inc."
filed_at: "2024-03-04T23:59:59+00:00"
generated_at: "2026-06-05T04:50:28.293075+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-24-002309
- form_type: 8-K
- ticker: PASG
- cik: 0001787297
- company_name: Passage BIO, Inc.
- filed_at: 2024-03-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1787297/000155837024002309/0001558370-24-002309-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1787297/000155837024002309/pasg-20240304x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-002309
- JSON: https://secwatch.observer/filing/0001558370-24-002309.json
- Plain text: https://secwatch.observer/filing/0001558370-24-002309.txt

## Key facts
- Earnings Releases
  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
  source text: Net loss was $16.8 million, or $0.30 per basic and diluted share, for the quarter ended December 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1787297/000155837024002309/0001558370-24-002309-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1787297/000155837024002309/0001558370-24-002309-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1787297/000155837024002309/0001558370-24-002309-index.htm
- Executive change
  Kathleen Borthwick was appointed as Chief Financial Officer at Passage BIO, Inc..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1787297/000155837024002309/0001558370-24-002309-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.