Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-39231 PASSAGE BIO, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 82- ...

PASSAGE BIO REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS AND PROVIDES RECENT BUSINESS HIGHLIGHTS PHILADELPHIA – May 14, 2024 – Passage Bio, Inc. (Nasdaq: PASG), a clinical stage genetic medicines company focused on improving the lives of patients with neurodegenerative diseases, today reported financial results for the first quarter ended March 31, 2024 and provided recent business highlights. "The beginning of 2024 has been marked by strong execution as we continue to advance our global upliFT-D clinical t ...

FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF For the transition period from to Commission File Number 001-39231 PASSAGE BIO, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-2729751 (State or other juris ...

[Business Highlights and Outlook](index=1&type=section&id=Business%20Highlights%20and%20Outlook) [Recent Business Highlights](index=1&type=section&id=Recent%20Highlights) Passage Bio reports promising PBFT02 FTD-GRN trial data, expanding indications, maintaining a strong balance sheet, and appointing a new CFO - The global Phase 1/2 upliFT-D clinical trial for PBFT02 in FTD-GRN shows sustained momentum, with initial data indicating the lowest dose raised CSF progranulin to supraphysiologic levels and was generally well-tolerated, expanding to seven global sites including Europe[3](index=3&type=chunk)[5](index=5&type=chunk) - PBFT02's therapeutic potential is expanding into other adult neurodegenerative diseases, including FTD-C9orf72, amyotrophic lateral sclerosis (ALS), and Alzheimer's disease, based on promising initial data[3](index=3&type=chunk)[5](index=5&type=chunk) - Passage Bio concluded 2023 with a **strong balance sheet**, providing a cash runway into **Q4 2025**, supported by resource focus on PBFT02 and pediatric program out-licensing[4](index=4&type=chunk)[5](index=5&type=chunk) - Kathleen Borthwick was appointed Chief Financial Officer, effective **March 1, 2024**, previously serving as Senior Vice President, Finance and Interim CFO[5](index=5&type=chunk) [Anticipated Upcoming Milestones](index=3&type=section&id=Anticipated%20Upcoming%20Milestones) Upcoming milestones include FTD-GRN Cohort 2 dosing and Cohort 1 data, with regulatory feedback for FTD-C9orf72 and ALS in 2H 2024 - **FTD-GRN Program**: Initiate Cohort 2 dosing in **1H 2024**[8](index=8&type=chunk) - **FTD-GRN Program**: Report 6-month safety and biomarker data from Cohort 1 in **2H 2024**[8](index=8&type=chunk) - **FTD-GRN Program**: Announce 12-month follow-up data from Cohort 1 in **1H 2025**[8](index=8&type=chunk) - **FTD-GRN Program**: Report initial safety and biomarker data from Cohort 2 in **1H 2025**[8](index=8&type=chunk) - **FTD-C9orf72 and ALS Program**: Regulatory feedback on the clinical pathway for PBFT02 treatment is expected in **2H 2024**[6](index=6&type=chunk) [Financial Results](index=3&type=section&id=Fourth%20Quarter%20and%20Full-Year%202023%20Financial%20Results) [Fourth Quarter and Full-Year 2023 Financial Results Summary](index=3&type=section&id=Financial%20Results%20Summary) Passage Bio reported reduced Q4 and full-year 2023 expenses, ending with **$114.3 million** cash into **Q4 2025**, and a **$102.1 million** net loss Financial Results Summary (in millions, except per share data) | Financial Metric | Q4 2023 | Full-Year 2023 | Q4 2022 | Full-Year 2022 | | :--- | :--- | :--- | :--- | :--- | | **Cash & Marketable Securities** | $114.3 | $114.3 | $189.6 | $189.6 | | **R&D Expenses** | $12.1 | $61.4 | $17.7 | $86.1 | | **G&A Expenses** | $6.3 | $41.6 | $10.6 | $49.3 | | **Net Loss** | $16.8 | $102.1 | $27.1 | $136.1 | | **Net Loss Per Share** | $0.30 | $1.86 | $0.50 | $2.50 | - The company anticipates its **$114.3 million** in cash, cash equivalents, and marketable securities will fund operations into **Q4 2025**[8](index=8&type=chunk) [Balance Sheets](index=6&type=section&id=Balance%20Sheets) Passage Bio's total assets decreased to **$150.5 million** as of Dec 31, 2023, from **$243.5 million** in 2022, with liabilities slightly down and equity at **$111.3 million** Balance Sheets (in thousands) | Financial Metric | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $117,959 | $197,044 | | Cash and cash equivalents | $21,709 | $34,601 | | Marketable securities | $92,585 | $155,009 | | **Total Assets** | **$150,545** | **$243,549** | | **Total Current Liabilities** | $16,341 | $18,351 | | **Total Liabilities** | **$39,262** | **$42,183** | | **Total Stockholders' Equity** | **$111,283** | **$201,366** | | **Total Liabilities and Stockholders' Equity** | **$150,545** | **$243,549** | [Statements of Operations and Comprehensive Loss](index=8&type=section&id=Statements%20of%20Operations%20and%20Comprehensive%20Loss) For 2023, the company reported a net loss of **$102.1 million** or **$1.86 per share**, an improvement from 2022, driven by reduced operating expenses Statements of Operations and Comprehensive Loss (in thousands, except per share data) | Financial Metric | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | | Research and development | $61,419 | $86,053 | | General and administrative | $41,580 | $49,341 | | Impairment of long-lived assets | $5,390 | — | | **Loss from operations** | **($108,389)** | **($138,394)** | | Other income (expense), net | $6,327 | $2,269 | | **Net loss** | **($102,062)** | **($136,125)** | | **Net loss per share, basic and diluted** | **($1.86)** | **($2.50)** |

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ | Title of each class | Trading Symbol | Name of each exchange on which registered | | --- | --- | --- | | Common S ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-39231 PASSAGE BIO, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 82-2 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-39231 PASSAGE BIO, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 82- ...

Passage Bio, Inc. (NASDAQ:PASG) Q4 2022 Earnings Conference Call March 6, 2023 8:30 AM ET Company Participants Stuart Henderson - Vice President, Corporate Development & Investor Relations Will Chou - Chief Executive Officer Mark Forman - Chief Medical Officer Simona King - Chief Financial Officer Conference Call Participants Brendan Smith - Cowen Omari Baruti - Goldman Sachs Laura Chico - Wedbush Yun Zhong - BTIG Whitney Ijem - Canaccord Operator Good morning, and welcome to the Passage Bio Fourth Quarter ...

To fulfill the promise of genetic medicine by developing transformative therapies for people with devastating CNS diseases Deep experience in rare disease, CNS disorders and genetic medicines LEADERSHIP TEAM William Chou, M.D. Chief Executive Officer Desiree Luthman, D.D.S. SVP Global Regulatory Affairs Alex Fotopoulos Chief Technology Officer Mark Forman, M.D., Ph.D. Chief Medical Officer O A C A D I Simona King Chief Financial Officer Chip Cale General Counsel & Corporate Secretary BOARD OF DIRECTORS Maxi ...

Table of Contents (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39231 PASSAGE BIO, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Exact Name of Registrant as Specified in Its Charter) Delaware 82-2729751 (State or other ...