Passage BIO Files Q2 2024 10-Q
Ticker: PASG · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 1787297
Sentiment: neutral
Topics: 10-Q, financials, biotech
TL;DR
Passage BIO's Q2 10-Q is in. Check financials.
AI Summary
Passage BIO, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results and operational updates. Key financial figures and strategic developments are detailed within the filing.
Why It Matters
This filing provides investors with the latest financial health and operational progress of Passage BIO, Inc., crucial for understanding its current standing and future prospects.
Risk Assessment
Risk Level: medium — Biotech companies often carry higher risk due to the nature of drug development and regulatory hurdles.
Key Numbers
- 2024-06-30 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
- 2024-08-08 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Passage BIO, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240808 (date) — Filing date
FAQ
What is the total revenue for Passage BIO for the quarter ending June 30, 2024?
The provided text does not contain specific revenue figures for the quarter ending June 30, 2024.
What was the net loss for Passage BIO in the second quarter of 2024?
The provided text does not specify the net loss for the second quarter of 2024.
What is the company's cash and cash equivalents balance as of June 30, 2024?
The provided text does not list the cash and cash equivalents balance as of June 30, 2024.
Are there any significant updates on clinical trials mentioned in this filing?
The provided text is a header and does not contain details on clinical trial updates.
What is the company's stock ticker symbol?
The provided text does not explicitly state the stock ticker symbol, but the filing is for Passage BIO, Inc.
Filing Stats: 4,497 words · 18 min read · ~15 pages · Grade level 17.3 · Accepted 2024-08-08 07:15:38
Key Financial Figures
- $0.0001 — had 61,767,286 shares of common stock, $0.0001 par value per share, outstanding. Tabl
Filing Documents
- pasg-20240630x10q.htm (10-Q) — 1879KB
- pasg-20240630xex31d1.htm (EX-31.1) — 16KB
- pasg-20240630xex31d2.htm (EX-31.2) — 16KB
- pasg-20240630xex32d1.htm (EX-32.1) — 6KB
- pasg-20240630xex32d2.htm (EX-32.2) — 6KB
- pasg-20240630x10q001.jpg (GRAPHIC) — 71KB
- 0001558370-24-011463.txt ( ) — 7311KB
- pasg-20240630.xsd (EX-101.SCH) — 44KB
- pasg-20240630_cal.xml (EX-101.CAL) — 45KB
- pasg-20240630_def.xml (EX-101.DEF) — 150KB
- pasg-20240630_lab.xml (EX-101.LAB) — 410KB
- pasg-20240630_pre.xml (EX-101.PRE) — 290KB
- pasg-20240630x10q_htm.xml (XML) — 1243KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 40 Item 4.
Controls and Procedures
Controls and Procedures 41 PART II. OTHER INFORMATION 42 Item 1.
Legal Proceedings
Legal Proceedings 42 Item 1A.
Risk Factors
Risk Factors 42 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 94 Item 3. Defaults Upon Senior Securities 94 Item 4. Mine Safety Disclosures 94 Item 5. Other Information 94 Item 6. Exhibits 95
Signatures
Signatures 96 3 Table of Contents
-FINANCIAL INFORMATION
PART I-FINANCIAL INFORMATION
Interim Financial Statements
Item 1. Interim Financial Statements. Passage Bio, Inc. Balance Sheets (Unaudited) (in thousands, except share and per share data) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 24,770 $ 21,709 Marketable securities 67,003 92,585 Prepaid expenses and other current assets 1,397 923 Prepaid research and development 1,830 2,742 Total current assets 95,000 117,959 Property and equipment, net 13,054 15,295 Right of use assets - operating leases 16,822 16,858 Other assets 516 433 Total assets $ 125,392 $ 150,545 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 621 $ 1,298 Accrued expenses and other current liabilities 8,063 11,670 Operating lease liabilities 3,701 3,373 Total current liabilities 12,385 16,341 Operating lease liabilities - noncurrent 22,450 22,921 Total liabilities 34,835 39,262 Commitments and contingencies (note 9) Stockholders' equity: Preferred stock, $ 0.0001 par value: 10,000,000 shares authorized; no shares issued and outstanding at both June 30, 2024 and December 31, 2023 — — Common stock, $ 0.0001 par value: 300,000,000 shares authorized; 61,754,786 shares issued and outstanding at June 30, 2024 and 54,944,130 shares issued and outstanding at December 31, 2023 6 5 Additional paidin capital 717,788 705,789 Accumulated other comprehensive income (loss) ( 67 ) ( 43 ) Accumulated deficit ( 627,170 ) ( 594,468 ) Total stockholders' equity 90,557 111,283 Total liabilities and stockholders' equity $ 125,392 $ 150,545 See accompanying notes to unaudited interim financial statements. 4 Table of Contents Passage Bio, Inc. (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share data) 2024 2023 2024 2023 Operating expenses: Research and dev