Passage BIO(US:PASG)2025-05-13 11:00Financial Performance - Passage Bio reported a net loss of $15.4 million, or $0.25 per share, for Q1 2025, compared to a net loss of $16.7 million, or $0.30 per share, for Q1 2024[9][13]. - Cash, cash equivalents, and marketable securities totaled $63.4 million as of March 31, 2025, down from $104.5 million a year earlier, with an expected cash runway into Q1 2027[9][12]. - Total assets decreased to $86.0 million as of March 31, 2025, from $102.4 million as of December 31, 2024[12][9]. Research and Development - Research and Development (R&D) expenses decreased to $7.7 million in Q1 2025 from $11.5 million in Q1 2024, reflecting a reduction of approximately 33%[9][13]. - The company treated its first FTD-GRN patient with Dose 2 PBFT02 and enrolled a second patient, with several additional patients being evaluated for trial eligibility[4][3]. - A high productivity, suspension-based manufacturing process for PBFT02 was presented, which is expected to yield over 1,000 doses at Dose 2 with over 90% purity and over 70% full capsids[4][3]. - The company plans to report interim safety and biomarker data from Dose 2 and 12-month data from Dose 1 patients in the second half of 2025[5][4]. - Enrollment for FTD-C9orf72 patients in the upliFT-D study has commenced, with plans to initiate dosing in the first half of 2025[5][4]. - The Independent Data Monitoring Committee will review safety data from Cohort 2 before proceeding to Cohort 3, which will include 3-5 patients[4][3]. - The company anticipates seeking regulatory feedback on the registrational trial design in the first half of 2026[5][4].