Passage Bio, Inc. reported its financial results for the first quarter ended March 31, 2025. The company's net loss for the quarter was $12.4 million, an improvement compared to a net loss of $16.6 million for the same period in 2024.
Research and development expenses decreased by $4.2 million to $6.7 million for the first quarter of 2025, while general and administrative expenses decreased by $1.0 million to $5.7 million. The company reiterated its cash runway into the first quarter of 2027.
In clinical updates, Passage Bio treated the first FTD-GRN patient with Dose 2 PBFT02 and enrolled a second patient, with several additional patients being evaluated. The company also announced the presentation of process development data for a high-productivity, suspension-based manufacturing process for PBFT02 at the American Society of Gene and Cell Therapy (ASGCT) 28th Annual Meeting.
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