Passage Bio, Inc. reported financial results for the second quarter ended June 30, 2025. The company's net loss for the quarter was $12.4 million, an improvement from $16.1 million for the same period in 2024. Research and development expenses decreased by $4.2 million to $6.9 million, and general and administrative expenses decreased by $1.0 million to $4.9 million for the comparative periods.
As of June 30, 2025, Passage Bio held $57.6 million in cash and cash equivalents, with an accumulated deficit of $684.0 million. The company reiterated its cash runway into the first quarter of 2027, a result of strategic cost reductions.
In clinical developments, Passage Bio completed dosing of FTD-GRN Cohort 2 in the upliFT-D study and submitted the amended study protocol to global trial sites and health authorities. The company reported that PBFT02 continued to demonstrate robust, durable elevation in CSF PGRN levels and improvement in plasma NfL compared to natural history, and remains on track to seek regulatory feedback on FTD-GRN pivotal trial design in the first half of 2026.
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