Every 10-Q that Passage Bio, Inc. (PASG) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PASG and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PASG filings page.
Passage Bio is a clinical-stage genetic medicines company that has decided to wind down its gene therapy programs and pursue a merger with Remix Therapeutics. For the quarter ended June 30, 2026, it reported a net loss of $7.8 million (vs. $9.4 million a year earlier) and a six‑month net loss of $15.4 million. Cash and cash equivalents declined to $24.2 million from $46.3 million at year‑end, while total stockholders’ equity fell to $4.5 million. Operating cash outflow for the first half of 2026 was $22.2 million.
The company terminated major leases for its Philadelphia office and Hopewell laboratory, recognizing a combined $2.6 million net gain on lease terminations and eliminating all operating lease obligations. It also implemented a restructuring plan that reduced headcount by about 75%, incurring roughly $3.2 million in severance and related costs.
On June 24, 2026 Passage Bio signed a Merger Agreement with Remix, alongside approximately $100.0 million of concurrent financing at Remix. Post‑closing, pre‑merger Remix holders are expected to own about 65% of the combined company, Passage Bio stockholders about 6%, and new financing investors about 29%, subject to adjustments. Existing Passage Bio stockholders are also expected to receive contingent value rights tied to future payments from Gemma license agreements. Management discloses substantial doubt about the company’s ability to continue as a going concern within one year unless the Remix merger or other substantial funding is completed.
Passage Bio’s latest quarter highlights shrinking resources, deep cost cuts, and mounting uncertainty. The company reported a Q1 2026 net loss of $7.6 million, improved from $15.4 million a year earlier as research and development and general and administrative expenses both declined.
Cash and cash equivalents fell to $33.3 million at March 31, 2026, and management concludes this will not cover capital needs for the next 12 months, raising “substantial doubt” about its ability to continue as a going concern. To preserve cash, Passage Bio terminated its Hopewell laboratory lease, paying a $4.8 million fee but recording a net gain on lease termination and sharply reducing lease liabilities.
After quarter-end, the company began reviewing strategic alternatives, including potential mergers, asset sales, or licensing deals, and announced a restructuring that will cut its workforce by about 75%, with estimated severance costs of $3.3 million. Passage Bio remains a clinical-stage biotech centered on lead gene therapy PBFT02 but is reassessing next steps in its development programs under these financial constraints.
Passage Bio (PASG) filed its Q3 2025 10‑Q, reporting lower operating costs and a narrower loss. Net loss was $7.7 million for the quarter and $32.5 million year‑to‑date, reflecting reduced research and development and general and administrative spending after a January workforce reduction. Other income was supported by interest on cash and sublease income.
Cash and cash equivalents were $52.8 million, up from $37.6 million at year‑end as marketable securities matured and were reinvested in money market funds. Total assets were $74.2 million and total liabilities were $43.0 million, leaving stockholders’ equity at $31.1 million. The company recorded $13.8 million of non‑refundable sublicense and transition services payments related to its Gemma agreements as a current liability, with revenue recognition deferred. Management states cash is sufficient for at least the next 12 months. As of November 6, 2025, 3,178,710 common shares were outstanding. The at‑the‑market facility had $15.8 million of remaining capacity at September 30, 2025.
Passage Bio reported a tighter but funded balance sheet with $57.6 million in cash and cash equivalents and total assets of $79.2 million, down from $102.4 million. The company recorded a net loss of $9.4 million for the quarter and $24.8 million for the six months, driven by research and development and general and administrative costs, partially offset by $0.9 million of other income in the quarter.
The company implemented a workforce reduction of about 55% and ceased laboratory operations in Hopewell, resulting in a $2.6 million impairment of long-lived assets and a subsequent sale of substantially all lab equipment for $1.2 million. Passage Bio received $9.7 million of non-refundable sublicense and transition services payments related to amended Gemma sublicenses (additional contractual payments and milestones disclosed) and has $15.8 million capacity remaining under its ATM facility. Management states cash is sufficient to fund operations for at least the next 12 months.