Passage Bio Reports First Quarter 2025 Financial Results and Provides Recent Business Highlights

Core Viewpoint - Passage Bio, Inc. is making progress in its clinical trials for PBFT02, a treatment for neurodegenerative diseases, with a focus on frontotemporal dementia (FTD) and plans for future regulatory engagement [2][6]. Recent Highlights - The company treated its first FTD-GRN patient with Dose 2 of PBFT02 and enrolled a second patient, with additional patients being evaluated for trial eligibility [6]. - A high productivity, suspension-based manufacturing process for PBFT02 was presented at the ASGCT 28th Annual Meeting, showing significant improvements in productivity and purity [6]. - The company has a cash runway expected to last into the first quarter of 2027, with cash and cash equivalents totaling $63.4 million as of March 31, 2025 [12]. Anticipated Upcoming Milestones - The company plans to initiate dosing of FTD-C9orf72 patients in the first half of 2025 [4]. - Interim safety and biomarker data from Dose 2 and 12-month data from Dose 1 patients are expected to be reported in the second half of 2025 [6]. Financial Results - For the first quarter of 2025, research and development expenses were $7.7 million, down from $11.5 million in the same quarter of 2024 [12]. - General and administrative expenses decreased to $6.1 million from $6.5 million year-over-year [12]. - The net loss for the quarter was $15.4 million, or $0.25 per share, compared to a net loss of $16.7 million, or $0.30 per share, in the prior year [12][15].