---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-012654"
form_type: "8-K"
ticker: "PASG"
cik: "0001787297"
company_name: "Passage BIO, Inc."
filed_at: "2024-09-06T23:59:59+00:00"
generated_at: "2026-05-31T06:06:03.392316+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Passage Bio expects $3.5M-$5.5M impairment charge on sublease of lab space

## Summary
- Subleased 3,200 sq ft (5% of 62,000 sq ft lab) in Hopewell, NJ; term Sept 2024 to Sept 2029, option to extend to 2032.
- Expects pre-tax impairment of $3.5M-$5.5M in Q3 2024 for ROU assets, leasehold improvements, and lab equipment.
- Impairment is non-cash; cash runway to fund operations through Q2 2026 unchanged.
- Annual sublease rent ~$0.1M (escalates 2.5%/yr); expected to reduce GAAP net loss by $0.1-$0.2M annually.
- Company pursuing additional subleases to further offset lease obligations from prior corporate developments.

## SEC filing metadata
- accession: 0001558370-24-012654
- form_type: 8-K
- ticker: PASG
- cik: 0001787297
- company_name: Passage BIO, Inc.
- filed_at: 2024-09-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.06
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1787297/000155837024012654/0001558370-24-012654-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1787297/000155837024012654/pasg-20240904x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-012654
- JSON: https://secwatch.observer/filing/0001558370-24-012654.json
- Plain text: https://secwatch.observer/filing/0001558370-24-012654.txt

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