Passage Bio, Inc. ( (PASG) ) has released its Q4 earnings. Here is a breakdown of the information Passage Bio, Inc. presented to its investors.
Passage Bio, Inc. is a clinical-stage genetic medicines company dedicated to developing innovative therapies for neurodegenerative diseases, with a particular focus on frontotemporal dementia (FTD) and other related conditions. The company leverages advanced gene therapy techniques to address underlying disease mechanisms, aiming to improve patient outcomes.
In its latest earnings report, Passage Bio shared significant progress in its PBFT02 program, which targets FTD-GRN patients. The company highlighted promising interim data showing increased cerebrospinal fluid progranulin levels and early signs of biomarker improvement, indicating potential therapeutic benefits. Additionally, Passage Bio has successfully extended its cash runway into the first quarter of 2027, ensuring continued support for its clinical and preclinical programs.
Key financial metrics from the report include a net loss of $64.8 million for the year 2024, a decrease from the previous year’s loss of $102.1 million. Research and development expenses were reduced to $40.2 million, reflecting a strategic focus on cost management. The company’s cash position stood at $76.8 million as of December 31, 2024, providing a solid foundation for ongoing operations and future development milestones.
Strategically, Passage Bio is advancing its upliFT-D trial, which now includes patients with C9orf72 gene mutations, and is preparing for regulatory discussions regarding a pivotal trial design in 2026. The company remains committed to its mission of addressing unmet needs in neurodegenerative diseases through its innovative gene therapy approaches.
Looking ahead, Passage Bio is poised to report further data from its clinical trials in the second half of 2025, with plans to engage with health authorities to explore the regulatory pathway for its promising therapies. The management’s outlook suggests a continued focus on executing its strategic initiatives and expanding its therapeutic pipeline.