Financial Performance - As of March 31, 2025, Passage Bio reported total assets of $86.0 million, down from $102.4 million as of December 31, 2024, representing a decrease of approximately 16%[13] - The company incurred a net loss of $15.4 million for the three months ended March 31, 2025, an improvement from a net loss of $16.7 million for the same period in 2024, reflecting a reduction of about 7.8%[14] - The accumulated deficit as of March 31, 2025, was $674.6 million, up from $659.2 million at the end of 2024, indicating an increase of approximately 2.2%[13] - The company reported a comprehensive loss of $15.4 million for Q1 2025, compared to a comprehensive loss of $16.7 million in Q1 2024, showing an improvement of about 7.8%[14] - The Company recorded a net loss per share for the three months ended March 31, 2025, with basic and diluted loss per share being the same due to the anti-dilutive effect of potential securities[62] - The Company recorded a loss from operations of $16.5 million for the three months ended March 31, 2025, compared to a loss of $18.1 million for the same period in 2024[190] - The company used $13.8 million in net cash for operating activities in Q1 2025, reflecting a net loss of $15.4 million[206] - Cash used in operating activities in Q1 2024 was $18.9 million, reflecting a net loss of $16.7 million[207] Cash and Liquidity - Cash and cash equivalents increased to $63.4 million as of March 31, 2025, compared to $37.6 million at the end of 2024, marking a growth of about 68.6%[13] - As of March 31, 2025, the company's total cash and cash equivalents amounted to $63.357 million, an increase from $37.573 million as of December 31, 2024, reflecting a significant growth of 68.6%[66] - The company had cash and cash equivalents of $63.4 million as of March 31, 2025, expected to fund operations into Q1 2027[166] - The company has $15.8 million remaining capacity to offer and sell shares under the ATM Facility as of March 31, 2025[203] - The company currently has no credit facility or committed sources of capital, indicating a need for additional funds for operational needs and clinical trials[201] Research and Development - Research and development expenses decreased to $7.7 million in Q1 2025 from $11.5 million in Q1 2024, indicating a reduction of approximately 33%[14] - Total research and development expenses for the three months ended March 31, 2025, were $7.737 million, down from $11.535 million in the same period of 2024, indicating a reduction of about 33.5%[133] - The Company’s research and development costs primarily consist of expenses related to contract research organizations and internal activities, with estimates made based on progress to completion[48] - The company expects research and development expenses to decrease in the near future due to a 55% reduction in workforce and cessation of lab operations in January 2025[183] - The lead clinical product candidate, PBFT02, aims to elevate progranulin levels to enhance lysosomal function and slow disease progression in neurodegenerative diseases, with a focus on frontotemporal dementia (FTD) caused by progranulin deficiency[137] - PBFT02 is currently in clinical development for FTD-GRN, with plans to expand its use to other adult neurodegenerative diseases, including FTD-C9orf72 and ALS, based on positive regulatory feedback[138] Impairment and Expenses - The Company recognized impairment expenses of $2.6 million for laboratory equipment and certain other assets for the three months ended March 31, 2025, compared to no impairment expenses for the same period in 2024[43] - The company recorded an impairment of $2.6 million related to the remeasurement of long-lived assets, which was included in the statement of operations for the three months ended March 31, 2025[70] - The Company recorded severance and termination-related costs of $1.7 million for the three months ended March 31, 2025, compared to no such costs in the same period of 2024[79] - The Company recorded share-based compensation expense of $858,000 for the three months ended March 31, 2025, compared to $1.595 million for the same period in 2024, reflecting a decrease of approximately 46.3%[120] - General and administrative expenses decreased by $0.4 million to $6.1 million for the three months ended March 31, 2025, from $6.5 million in the same period of 2024[192] Funding and Future Plans - The company plans to seek additional funding through public or private equity offerings, debt financings, and strategic alliances, with $15.8 million remaining available under its ATM Facility as of March 31, 2025[29][30] - Future funding requirements will depend on various factors, including the progress of clinical trials and collaborations with third parties[200] - The ongoing clinical trials and research programs are expected to incur significant expenses, with the need for additional capital to support operations and growth strategies[165] - The company anticipates an increase in general and administrative expenses if product candidates progress into later-stage clinical trials and require commercialization efforts[187] Lease and Sublease Agreements - The Company has classified all leases with terms greater than one year as operating leases as of March 31, 2025[45] - The Company has a total undiscounted lease liability of $25.116 million, with future minimum lease payments totaling $40.205 million[93] - The Company entered into a sublease agreement for approximately 29,000 square feet with a base rent of $0.9 million per year, effective from March 1, 2024, through August 2026[84] - The Company subleased approximately 16,000 square feet with a base rent of $0.3 million per year, starting March 26, 2024, and expiring September 30, 2025[86] - The company has a lease obligation of approximately $11.8 million for office space in Philadelphia, expiring in December 2031, with potential cash inflows from sublease agreements[211] Clinical Trials and Product Development - The estimated prevalence of FTD-GRN in the US and Europe is approximately 18,000, while FTD-C9orf72 is estimated at 21,000[145][155] - In the upliFT-D trial, Dose 1 of PBFT02 resulted in robust increases in cerebrospinal fluid (CSF) PGRN levels, from below 3.0 ng/mL at baseline to 22.3 to 34.0 ng/mL at 12 months post-treatment[146] - Plasma neurofilament light chain (NfL) levels decreased by an average of 13% at 12 months post-treatment with Dose 1 of PBFT02, contrasting with an expected 29% annual increase in untreated patients[148] - The company plans to report 12-month follow-up data from Dose 1 and interim safety and biomarker data from Dose 2 in the second half of 2025[153] Collaboration Agreements - The Company has entered into sublicense agreements with Gemma Biotherapeutics for multiple gene therapy programs, including treatments for GM1 gangliosidosis, Krabbe disease, and metachromatic leukodystrophy[139] - The Gemma Collaboration Agreement requires payments of up to $16.5 million per product candidate for Huntington's disease and $39.0 million for Temporal Lobe Epilepsy[102] - Under the Gemma Sublicenses, the company is entitled to receive initial payments of $10 million and up to an additional $114 million in development and commercial milestone payments[176] - The Amended Catalent Agreements establish a limited exclusive relationship for the manufacture of drug products for adeno-associated virus delivery therapeutic candidates until November 6, 2030[180]

Treated first FTD-GRN patient with Dose 2 PBFT02 and enrolled second patient; several additional patients being evaluated for trial eligibility Announced presentation of process development data of a high productivity, suspension-based manufacturing process for PBFT02 at American Society of Gene and Cell Therapy (ASGCT) 28th Annual Meeting Cash runway into 1Q 2027 PHILADELPHIA – May 13, 2025 – Passage Bio, Inc. (Nasdaq: PASG), a clinical stage genetic medicines company focused on improving the lives of pati ...

Passage Bio, Inc. (PASG) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Since a changi ...

Financial Performance - The net loss for the year ended December 31, 2024, was $64.767 million, compared to a net loss of $102.062 million in 2023, indicating an improvement in financial performance [650]. - The company reported a comprehensive loss of $64.716 million for 2024, compared to $101.139 million in 2023, reflecting a reduction in overall losses [650]. - The company reported a net loss of $64,767,000 for the year ended December 31, 2024, compared to a net loss of $102,062,000 for the previous year, representing a 36.5% improvement in losses [657]. - The loss from operations improved from $108.389 million in 2023 to $70.400 million in 2024, suggesting better operational efficiency [650]. - The company's accumulated deficit increased from $594.468 million in 2023 to $659.235 million in 2024, highlighting ongoing financial challenges [649]. Cash and Securities - As of December 31, 2024, the company held $76.8 million in cash, cash equivalents, and marketable securities, a decrease from $117.959 million in 2023 [636][649]. - Cash and cash equivalents at the end of 2024 were $37,573,000, an increase from $21,709,000 at the beginning of the year, indicating a net increase of $15,864,000 [657]. - The company's marketable securities totaled $39,183,000 as of December 31, 2024, compared to $92,585,000 as of December 31, 2023, indicating a decrease of about 58% [714]. - The fair value of the company's total financial assets was $73,229,000 as of December 31, 2024, down from $96,935,000 in the previous year, reflecting a decline of approximately 24% [721]. Research and Development - Research and development expenses decreased from $61.419 million in 2023 to $40.179 million in 2024, showing a reduction in operational costs [650]. - Total research and development expenses for the year ended December 31, 2024, were $40.2 million, down from $61.4 million in 2023, reflecting a decrease of approximately 34.5% [814]. - The Company plans to reduce its workforce by approximately 55% as part of a restructuring plan aimed at aligning its workforce with strategic research and development needs [817]. Funding and Future Outlook - The company anticipates continued operating losses for the foreseeable future and will need to raise additional funding to achieve profitability [17]. - The company plans to seek additional funding through public or private equity offerings, debt financings, and strategic alliances to support its operations and product development [663]. - The company anticipates incurring additional losses until it can generate significant sales from its product candidates currently in development [660]. Shareholder Impact - The weighted average common shares outstanding increased from 54,743,490 in 2023 to 60,405,036 in 2024, indicating potential dilution for existing shareholders [650]. - The total number of shares authorized under the Incentive Plan as of December 31, 2024, was 15,848,867, with 8,604,096 shares available for future grants [785]. - The weighted average number of stock options excluded from diluted shares increased from 9,290,308 in 2023 to 11,554,173 in 2024, indicating a rise of approximately 24.4% [707]. Impairment and Expenses - The Company recognized impairment expenses for property and equipment of $2.7 million in 2024 and $3.2 million in 2023, indicating a decrease of approximately 15.6% year-over-year [679]. - The Company recorded impairment losses of $5,233,000 for the year ended December 31, 2024, compared to $5,390,000 in 2023, showing a slight decrease of about 3% [724]. - The Company recognized an impairment expense of $4.8 million in 2024, including $2.5 million for ROU assets and $2.3 million for property and equipment, due to the carrying values exceeding estimated undiscounted cash flows [751]. Lease and Sublease Agreements - The Company subleased approximately 8,000 square feet under Sublease Agreement A for an annual base rent of $0.1 million, increasing by 2.75% annually, with the sublease term running from November 1, 2023, to March 31, 2029 [735]. - The Company subleased approximately 29,000 square feet under Sublease Agreement B for an annual base rent of $0.9 million, with the sublease term from March 1, 2024, to August 2026 [738]. - The total undiscounted lease payments for the Company's operating leases are projected to be $41.182 million, with total lease liabilities amounting to $25.476 million after imputed interest [752]. Tax and Deferred Assets - The Company had a net operating loss carryforward of $339.1 million for federal tax purposes as of December 31, 2024, an increase from $265.5 million in 2023 [804]. - The valuation allowance for deferred tax assets increased by $19.1 million during the year ended December 31, 2024 [802]. - The Company had no accrued interest or penalties related to uncertain tax positions as of December 31, 2024 [809].

Financial Position - As of December 31, 2024, the company's cash, cash equivalents, and marketable securities position is approximately $76.8 million, enabling funding of operating expenses and capital expenditures into Q1 2027[5]. Restructuring Plan - The company is implementing a restructuring plan that includes ceasing lab operations in New Jersey and reducing its workforce by approximately 55%, expected to decrease annual operating costs by $9.0 million to $11.0 million[7][9]. - The company anticipates incurring approximately $2.0 million in severance and exit costs primarily in Q1 2025 due to the restructuring plan[9]. - The restructuring plan is expected to be substantially complete by the end of Q1 2025[8]. Impairment and Costs - The company expects to recognize impairment expenses for laboratory equipment of approximately $1.0 million to $3.0 million in the three-month period ending March 31, 2025[10]. Clinical Trial Updates - Updated data from the ongoing Phase 1/2 upliFT-D clinical trial for PBFT02 shows a robust increase in PGRN expression, with cerebrospinal fluid levels rising from below 3 ng/mL at baseline to 13-27 ng/mL at six months[17]. - Plasma neurofilament light chain levels were 13% lower than baseline on average at 12 months post-treatment, contrasting with untreated patients whose levels are expected to increase by 29% per year[17]. - The company plans to initiate dosing of FTD-C9orf72 patients in the first half of 2025 and expects to report 12-month data from Dose 1 in the second half of 2025[21]. Manufacturing Process - The company is transitioning to an outsourced analytical testing model as part of its manufacturing process improvements for PBFT02[14]. Forward-Looking Statements - The company cautions that forward-looking statements regarding financial impacts and clinical trial progress involve risks and uncertainties that could materially affect actual results[20].

Core Insights - Passage Bio, Inc. reported strong performance in 2024, advancing its PBFT02 program with promising data in FTD-GRN patients, showing robust and durable progranulin expression and early evidence of improvement in a disease progression biomarker [3][6] - The company has extended its cash runway into Q1 2027 by implementing cost-reduction measures and moving to an outsourced analytical testing model [6][15] - Upcoming milestones include reporting 12-month data from Dose 1 and interim safety and biomarker data from Dose 2 in 2H 2025, and seeking regulatory feedback on the registrational trial design in 1H 2026 [6][5] Clinical Trial Updates - Interim data from the upliFT-D clinical trial demonstrated that Dose 1 PBFT02 increased cerebrospinal fluid (CSF) progranulin (PGRN) levels significantly, from below 3 ng/mL at baseline to 13-27 ng/mL at six months and 22-34 ng/mL at 12 months [6] - Plasma neurofilament light chain (NfL) levels were found to be 13% lower than baseline on average at 12 months post-treatment, contrasting with an expected increase of 29% per year based on natural history data [6] - The first FTD-GRN patient has been enrolled to receive Dose 2 PBFT02, which is 50% lower than Dose 1, to facilitate discussions with health authorities regarding a registrational study design [6][3] Financial Performance - As of December 31, 2024, the company reported cash, cash equivalents, and marketable securities totaling $76.8 million, down from $114.3 million as of December 31, 2023 [15] - Research and Development (R&D) expenses for Q4 2024 were $9.6 million, and for the full year, they totaled $40.2 million, compared to $12.1 million and $61.4 million for the same periods in 2023 [15] - The net loss for Q4 2024 was $12.7 million, or $0.20 per share, and for the full year, it was $64.8 million, or $1.07 per share, showing a decrease in losses compared to the previous year [15][21]

Core Insights - Passage Bio, Inc. reported updated data from the ongoing Phase 1/2 upliFT-D clinical trial for PBFT02, a gene replacement therapy targeting frontotemporal dementia (FTD) with granulin (GRN) mutations, showing promising results in increasing CSF PGRN levels and early signs of reduced plasma NfL levels, a biomarker for disease progression [1][2][4] Clinical Trial Updates - The company is evaluating Dose 2 of PBFT02, which is 50% lower than Dose 1, in FTD-GRN and FTD-C9orf72 patients to explore dosing options and support regulatory strategy [1][4] - Interim data from FTD-GRN patients treated with Dose 1 showed CSF PGRN levels increased from below 3 ng/mL at baseline to 13-27 ng/mL at six months and 22-34 ng/mL at 12 months, with plasma NfL levels averaging 13% lower than baseline at 12 months [4][8] - The company plans to report 12-month data from Dose 1 and interim safety and biomarker data from Dose 2 in the second half of 2025 and seek regulatory feedback on the pivotal trial design in the first half of 2026 [1][6] Manufacturing and Financial Strategy - Passage Bio completed the development and scale-up of a high-productivity, suspension-based manufacturing process for PBFT02, which is expected to improve yield and reduce costs [1][4] - The company extended its cash runway into the first quarter of 2027 by transitioning to an outsourced analytical testing model and reducing operating expenses, including a workforce reduction of approximately 55% [1][4][8] Future Plans - The company is on track to initiate dosing of FTD-C9orf72 patients in the first half of 2025, with an estimated 21,000 patients affected in the U.S. and Europe, and no approved disease-modifying therapies currently available [6][8] - The upliFT-D trial is a global, multi-center, open-label study evaluating the safety and efficacy of PBFT02, with a primary endpoint focused on safety and tolerability [9][10]

Financial Performance - The net loss for the three months ended September 30, 2023, was $19,340,000, compared to a net loss of $27,110,000 for the same period last year, representing a 28.5% improvement[12]. - The net loss per share for the three months ended September 30, 2023, was $(0.31), compared to $(0.49) for the same period last year[12]. - Comprehensive loss for the three months ended September 30, 2023, was $19,241,000, compared to $26,962,000 for the same period last year, indicating a 28.5% reduction[12]. - For the nine months ended September 30, 2024, the net loss was $52,042 thousand, a decrease from a net loss of $85,304 thousand for the same period in 2023, representing a 39% improvement[19]. - For the three months ended September 30, 2024, the net loss was $19.3 million, compared to a net loss of $27.1 million for the same period in 2023, representing a 29% improvement[155]. - For the nine months ended September 30, 2024, the net loss was $52.0 million, down from $85.3 million in the same period in 2023, indicating a 39% reduction in losses[155]. - As of September 30, 2024, the accumulated deficit stood at $646.5 million[155]. Research and Development - Research and development expenses for the three months ended September 30, 2023, were $8,656,000, while for the nine months ended, they totaled $30,621,000[12]. - Research and development expenses decreased by $6.4 million to $8.7 million for the three months ended September 30, 2024, from $15.1 million for the same period in 2023[186]. - Research and development expenses decreased by $18.6 million to $30.6 million for the nine months ended September 30, 2024, from $49.3 million for the same period in 2023[195]. - The company has paused development of certain research programs to reduce operating expenses, specifically a program for TLE[154]. - Research and development expenses are anticipated to remain consistent in the near future, with potential increases as product candidates progress into later-stage clinical trials[180]. Cash Flow and Liquidity - The total accumulated deficit as of September 30, 2023, was $(646,510,000)[15]. - Cash and cash equivalents at the end of the period were $32,292 thousand, slightly down from $33,579 thousand at the end of the previous period[19]. - The company had cash, cash equivalents, and marketable securities totaling $84.8 million as of September 30, 2024, expected to fund operations until the end of Q2 2026[158]. - The net cash used in operating activities for the nine months ended September 30, 2024, was $39,512 thousand, compared to $58,748 thousand for the same period in 2023, indicating a 33% reduction in cash outflow[19]. - The company expects existing cash and marketable securities will fund operating expenses and capital expenditures until the end of the second quarter of 2026[203]. Impairment and Expenses - The company reported an impairment of long-lived assets amounting to $4,795,000 for the three months ended September 30, 2023[12]. - The Company recognized impairment expenses for property and equipment of $2.3 million and $2.7 million for the three and nine months ended September 30, 2024, respectively, compared to $3.2 million for the same periods in 2023[39]. - The Company recognized an impairment expense of $4.8 million related to certain asset groups, including $2.5 million for ROU assets and $2.3 million for property and equipment, during the three and nine months ended September 30, 2024[88]. - Impairment expense of long-lived assets recorded was $4.8 million during the three months ended September 30, 2024, compared to $5.4 million for the same period in 2023[192][193]. - Impairment expense of long-lived assets recorded was $5.2 million during the nine months ended September 30, 2024, compared to $5.4 million for the same period in 2023[199][200]. Shareholder Equity and Stock Options - The weighted average common shares outstanding for the three months ended September 30, 2023, were 61,763,346, an increase from 54,789,410 shares in the prior year[12]. - The Company had 12,012,051 stock options outstanding as of September 30, 2024, with a weighted average exercise price of $3.89[118]. - The total unrecognized compensation expense related to unvested stock option awards was $6.9 million, expected to be recognized over 2.3 years[118]. - The Company has 1,379,590 shares available for future grants under the 2020 Employee Stock Purchase Plan as of September 30, 2024[122]. Collaborations and Agreements - The company entered into a new research collaboration and license agreement with GEMMA Biotherapeutics and amended its collaboration with the University of Pennsylvania[21]. - The Company entered into sublicense agreements with Gemma, receiving an initial payment of $5,000,000 for licenses and clinical product supply, with an additional $5,000,000 due in December 2024[73]. - The Gemma Collaboration Agreement includes payments of up to $16.5 million per product candidate for Huntington's disease and future CNS indications, with additional sales milestone payments of up to $55.0 million based on annual worldwide net sales[163]. - The Company is obligated to make payments of up to $16.5 million per product candidate upon achieving specific development milestones under the Penn License Agreement[96]. - The Company is required to pay tiered royalties in the mid-single digits percentage on annual worldwide net sales of licensed products upon successful commercialization[97]. Legal and Regulatory Matters - The Company recorded a $1.0 million loss contingency for a legal proceeding as of September 30, 2024[111]. - The Company is involved in litigation regarding a claim of breach of contract, with the plaintiff seeking a mid-single digit million dollar amount, and a jury awarded $1.0 million to the plaintiff on the breach of contract claim[125][126]. - The FDA has granted Orphan Drug Designation and Fast Track Designation for PBFT02 for the treatment of FTD and FTD-GRN[145]. Clinical Development - The lead clinical product candidate, PBFT02, aims to elevate progranulin levels to enhance lysosomal function and slow disease progression in neurodegenerative diseases, specifically targeting frontotemporal dementia caused by progranulin deficiency[130]. - PBFT02 has shown promising biomarker data, with cerebrospinal fluid (CSF) progranulin levels increasing from 10.7 to 27.3 ng/mL at 6 months post-treatment, significantly higher than the healthy control range of 3.3 to 8.2 ng/mL[142]. - The Company plans to initiate dosing for PBFT02 in treating FTD-C9orf72 patients in the first half of 2025 and expects regulatory feedback on the clinical pathway for ALS patients in the second half of 2024[149]. - The Company has completed dosing of Cohort 1 in the upliFT-D trial and is continuing to study Dose 1 in Cohort 2 based on robust PGRN expression observed[143]. - The Company anticipates reporting 12-month follow-up data from Cohort 1 and interim data from Cohort 2 in the first half of 2025[144].

Clinical Trials - Enrolled 4 patients in Cohort 2 of the upliFT-D trial for FTD-GRN, with patient dosing advancing as planned; 12-month data from Cohort 1 and interim Cohort 2 expected in 1H25[1] - Updated interim data from Cohort 1 showed PBFT02 was well-tolerated and elevated CSF progranulin levels for up to 12 months following treatment[4] - Presented preclinical data at ESGCT conference showing PBFT02 achieved superior human progranulin levels compared to other vectors[5] - Anticipated milestones include reporting 12-month data from Cohort 1 and interim data from Cohort 2 in 1H 2025, and initiating dosing of FTD-C9orf72 patients in 1H 2025[7] Financial Performance - Cash position as of September 30, 2024, was $84.8 million, down from $132.8 million as of September 30, 2023; cash runway expected to last until the end of Q2 2026[7] - Net loss for Q3 2024 was $19.3 million, or $0.31 per share, compared to a net loss of $27.1 million, or $0.49 per share, in Q3 2023[7] - The net loss for Q3 2024 was $19,340,000, compared to a net loss of $27,110,000 in Q3 2023, reflecting a 28.6% improvement[13] - The loss from operations for Q3 2024 was $(20,702,000), an improvement from $(28,672,000) in Q3 2023, indicating a 27.8% reduction[13] - The net loss per share for Q3 2024 was $(0.31), compared to $(0.49) in Q3 2023, showing a 36.7% improvement[13] - Comprehensive loss for Q3 2024 was $(19,241,000), compared to $(26,962,000) in Q3 2023, reflecting a 28.5% improvement[13] - Other income (expense), net for Q3 2024 was $1,362,000, compared to $1,562,000 in Q3 2023, a decrease of 12.8%[13] - Impairment of long-lived assets for Q3 2024 was $4,795,000, slightly down from $5,390,000 in Q3 2023, a decrease of 11.0%[13] - The total net loss for the nine months ended September 30, 2024, was $(52,042,000), compared to $(85,304,000) for the same period in 2023, indicating a 39.0% improvement[13] Expenses - Research and Development (R&D) expenses for Q3 2024 were $8.7 million, a decrease from $15.1 million in Q3 2023[7] - Research and development expenses for Q3 2024 were $8,656,000, a decrease from $15,098,000 in Q3 2023, representing a 42.3% reduction[13] - General and Administrative (G&A) expenses for Q3 2024 were $7.3 million, down from $8.2 million in Q3 2023[7] - General and administrative expenses for Q3 2024 were $7,251,000, down from $8,184,000 in Q3 2023, a decrease of 11.4%[13] Board and Management Changes - Appointed Tom Kassberg to the board of directors, bringing extensive experience in corporate development and strategic planning[6] Liabilities - Total liabilities as of September 30, 2024, were $39.036 million, slightly down from $39.262 million as of December 31, 2023[11] Share Information - The weighted average common shares outstanding for Q3 2024 increased to 61,763,346 from 54,789,410 in Q3 2023, a rise of 12.7%[13]

Core Points - Passage Bio, Inc. is a clinical stage genetic medicines company focused on neurodegenerative diseases [3] - The company will present at the Guggenheim Securities Healthcare Innovation Conference on November 13, 2024 [1] - The lead product candidate, PBFT02, aims to treat frontotemporal dementia by elevating progranulin levels [3] Company Overview - Passage Bio is dedicated to developing one-time therapies targeting the underlying pathology of neurodegenerative conditions [3] - The company emphasizes its commitment to improving the lives of patients and families affected by these diseases [3][4]