Passage Bio, Inc. Stock Price, News & Analysis

Passage Bio (Nasdaq: PASG) announced the appointment of Dr. Michael Kamarck to its board of directors and the Nominating and Corporate Governance Committee. Dr. Kamarck brings over 40 years of experience in biopharmaceuticals, including leadership roles in manufacturing and technical operations. His previous positions include Chief Technology Officer at Vir Biotechnology and Senior Vice President at Merck. The company is focused on developing genetic therapies for CNS disorders and has established a collaboration with the University of Pennsylvania. Dr. Kamarck's expertise is expected to enhance Passage Bio's clinical programs.

Passage Bio (NASDAQ: PASG), a clinical-stage genetic medicines company, announced that CFO Simona King will participate in a fireside chat at the Goldman Sachs 43rd Annual Global Healthcare Conference from June 13-16, 2022. The event, scheduled for June 16 at 8:40 a.m. PT (11:40 a.m. ET), will be webcast live on the company’s website. Passage Bio focuses on developing transformative therapies for central nervous system disorders and is advancing clinical programs for conditions like GM1 gangliosidosis and Krabbe disease.

Passage Bio (Nasdaq: PASG) announced FDA clearance for its IND application for PBML04, a gene therapy targeting Metachromatic Leukodystrophy (MLD), a rare and fatal pediatric condition. This marks the company’s fourth IND clearance and the third pediatric lysosomal storage disorder to enter clinical development. MLD affects 1 in 100,000 live births and is caused by mutations in the ARSA gene. The Phase 1 trial will utilize ICM administration of an AAVhu68 capsid to express ARSA, offering potential treatment for MLD's severe symptoms.

Passage Bio (Nasdaq: PASG) announced the departure of Bruce Goldsmith, Ph.D., as president and CEO, effective immediately, with Edgar B. (Chip) Cale stepping in as interim CEO. Cale, the current general counsel, will lead the company while a search for a permanent CEO is underway. Over the past two years, Goldsmith oversaw significant achievements, including successful public offerings and advancing three clinical development programs. The board expressed gratitude for his contributions, emphasizing continuity in leadership during this transition.

Passage Bio, a clinical-stage genetic medicines company, has granted inducement awards to new employees, consisting of options to purchase 79,600 shares of common stock at an exercise price of $1.69 per share. This price reflects the stock's closing value on May 16, 2022. The options will vest over four years, with 25% vesting after one year. Passage Bio's focus is on developing therapies for central nervous system disorders, with ongoing clinical programs in GM1 gangliosidosis, Krabbe disease, and frontotemporal dementia.

Passage Bio (NASDAQ: PASG) announced positive interim results from the Imagine-1 Phase 1/2 trial of PBGM01, a gene therapy for GM1 gangliosidosis. Data presented showed that PBGM01 was well-tolerated and exhibited a favorable safety profile without serious adverse events. Both patients in Cohort 1 demonstrated significant developmental improvements, particularly in motor and language skills. MRI results indicated increased brain volume in patient 1, while biomarker data confirmed functional gene expression. The trial continues with additional cohorts, and interim data from Cohorts 2 and 3 is expected in 2H22.

Passage Bio (NASDAQ: PASG) announced the dosing of its first patient in Cohort 2 and the completion of Cohort 3 in the Imagine-1 clinical trial for GM1 gangliosidosis. The GALax-C trial for infantile Krabbe disease has also initiated dosing. The company submitted an IND for PBML04 targeting metachromatic leukodystrophy and aims to extend its cash runway into Q2 2024 through strategic prioritization and a workforce reduction. Financial results for Q1 2022 reported a net loss of $42.8 million, with cash reserves of $267.1 million, sufficient to support ongoing operations into 2024.

Passage Bio (NASDAQ: PASG) will host a conference call on May 16, 2022, at 8:30 a.m. ET to discuss its first quarter 2022 financial results and recent business highlights. The call can be accessed by dialing 833-528-0605 (domestic) or 830-221-9711 (international) with conference ID 6960234. A live audio webcast will also be available on the company's investor website, with an archived version to follow. Passage Bio is focused on developing gene therapies for central nervous system disorders, with ongoing clinical programs targeting GM1 gangliosidosis, Krabbe disease, and frontotemporal dementia.

Passage Bio (NASDAQ: PASG) announced it will present additional clinical and biomarker data from the Imagine-1 study for GM1 gangliosidosis at the ASGCT 25th Annual Meeting on May 18, 2022, in Washington, D.C. The late-breaker oral presentation will feature interim safety, biomarker, and efficacy data for PBGM01, a therapy for both early and late-onset types of the disorder. Additionally, researchers from the University of Pennsylvania will present preclinical data supporting Passage Bio’s programs, including a study on PBML04 for metachromatic leukodystrophy.