Passage Bio reports Q2 net loss $16M; advances upliFT-D trial, out-licenses programs to GEMMABio

Passage BIO, Inc.

Enrolled first FTD-GRN patient in Cohort 2 of upliFT-D trial; FDA agreed to expand trial to FTD-C9orf72 patients.
Out-licensed pediatric LSD programs to GEMMA Biotherapeutics; initial payments $10M, potential milestones up to $114M plus royalties.
Cash $91.8M as of June 30, 2024; cash runway extended to end of Q2 2026.
Net loss $16.0M ($0.26/share) vs $23.9M ($0.44/share) in Q2 2023; R&D and G&A expenses decreased.
Plan to present updated safety and biomarker data from Cohort 1 at ISFTD2024 in September.

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