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Passage Bio ( (PASG) ) has provided an announcement.
Passage Bio announced a restructuring plan to cease its lab operations in New Jersey and reduce its workforce by approximately 55% to align with its strategic research and development goals, which is expected to save $9.0 million to $11.0 million annually. The company also reported updated data from its Phase 1/2 upliFT-D trial for PBFT02, showing promising results in increasing PGRN expression, and plans to introduce a lower dose in future trials while extending its cash runway into 2027 through cost-cutting measures.
More about Passage Bio
Passage Bio, Inc. is a clinical stage genetic medicines company that focuses on developing treatments for neurodegenerative diseases. The company is working on advancing its PBFT02 program, which is aimed at treating frontotemporal dementia with GRN mutations.
YTD Price Performance: -20.60%
Average Trading Volume: 756,915
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $40.7M
For detailed information about PASG stock, go to TipRanks’ Stock Analysis page.
