Passage Bio (NASDAQ: PASG) reports $46M cash and runway into 2027

Rhea-AI Filing Summary

Passage Bio, Inc. reported in an updated corporate presentation that its preliminary, unaudited cash, cash equivalents and marketable securities position as of December 31, 2025 was approximately $46 million. The company currently expects this cash balance to be sufficient to fund operating expenses and capital expenditure requirements into the first quarter of 2027. These figures were prepared by management, may change as year-end financial statements are finalized, and remain subject to normal review and audit procedures. The updated corporate presentation containing this information has been furnished as an exhibit and is not deemed filed for liability purposes.

Insights

Biotech equity analyst

Passage Bio discloses about $46M cash with runway into early 2027.

Passage Bio, Inc. has provided a preliminary view of its liquidity, stating that cash, cash equivalents and marketable securities totaled approximately $46 million as of December 31, 2025. The company indicates that, based on current plans, this amount is expected to fund operating expenses and capital expenditures into the first quarter of 2027.

This disclosure is focused on solvency and planning rather than performance, and it is explicitly labeled as preliminary and unaudited. Final figures depend on completion of year-end financial statements and the audit process, so the actual reported balance could differ once the annual results are issued.

For investors, this type of liquidity update helps frame how long the company can support its programs under current assumptions before needing additional capital. The accompanying corporate presentation, furnished as an exhibit, may provide more detail on how this runway aligns with the company’s development and spending plans.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934 

Date of Report (Date of earliest event reported): January 12, 2026

PASSAGE BIO, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-39231	82-2729751
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

One Commerce Square 2005 Market Street, 39th Floor Philadelphia, PA	19103
(Address of principal executive offices)	(Zip Code)

(267) 866-0311

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common Stock, $0.0001 Par Value Per Share	PASG	The Nasdaq Stock Market LLC (Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operations and Financial Condition.

On January 12, 2026, Passage Bio, Inc. (the “Company”) updated its corporate presentation, which reports the preliminary, unaudited amount of the Company’s cash, cash equivalents and marketable securities position as of December 31, 2025, as approximately $46 million, which the Company expects will enable it to fund its operating expenses and capital expenditure requirements into the first quarter of 2027. This amount is preliminary, unaudited and may change, was prepared by management and is based on the most current information available to management, and is subject to completion by management of the financial statements as of and for the year ended December 31, 2025, including completion of the review procedures, final adjustments and other developments that may arise between now and the time the financial results for this period are finalized, and completion of the audit of such financial statements.

The information in this Item 2.02, including Exhibit 99.1 to this report, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any other filing under the Exchange Act or under the Securities Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure.

On January 12, 2026, the Company updated its corporate presentation. A copy of the corporate presentation is attached as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Item 7.01, including Exhibit 99.1 to this Current Report on Form 8-K, shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act. The information contained in this Item 7.01 and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any other filing under the Exchange Act or under the Securities Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits

Exhibit No.		Description
99.1		Corporate Presentation.
104		Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	PASSAGE BIO, INC.
Date: January 12, 2026	By:	/s/ Kathleen Borthwick
		Kathleen Borthwick
		Chief Financial Officer

FAQ

What preliminary cash balance did Passage Bio (PASG) report as of December 31, 2025?

Passage Bio reported a preliminary, unaudited balance of approximately $46 million in cash, cash equivalents and marketable securities as of December 31, 2025.

How long does Passage Bio expect its current cash to fund operations?

The company expects its approximately $46 million in cash, cash equivalents and marketable securities to fund operating expenses and capital expenditure requirements into the first quarter of 2027.

Are Passage Bio’s reported cash figures audited?

No. The reported approximately $46 million cash, cash equivalents and marketable securities balance is described as preliminary and unaudited and is subject to change as year-end financial statements and the audit are completed.

What prompted Passage Bio’s latest 8-K filing?

The 8-K was filed because Passage Bio updated its corporate presentation, which includes the preliminary, unaudited estimate of cash, cash equivalents and marketable securities as of December 31, 2025.

Is Passage Bio’s updated corporate presentation considered filed with the SEC?

No. The company states that the information in Items 2.02 and 7.01, including the corporate presentation attached as Exhibit 99.1, is furnished and not deemed filed for purposes of Section 18 of the Exchange Act or Sections 11 and 12(a)(2) of the Securities Act.

Where can investors find the updated Passage Bio corporate presentation?

The updated corporate presentation is attached to the 8-K as Exhibit 99.1, which includes the preliminary cash and cash equivalents disclosure.