{"url_path":"/sec/pasg/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-12","source_url":"https://www.sec.gov/Archives/edgar/data/1787297/0001104659-26-058987-index.html","accession_number":"0001104659-26-058987","cik":"0001787297","ticker":"PASG","issuer_name":"Passage BIO, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1787297/0001104659-26-058987-index.html","primary_entity_key":"0001787297","primary_entity_name":"Passage BIO, Inc."},"word_count":1363,"has_tables":true,"body_markdown":"Passage BIO, Inc._March 31, 2026\n\n0001787297--12-312026Q100Passage BIO, 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of Contents](#TOC)\n\n**Y**\n\n​\n\n​\n\n**UNITED STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**WASHINGTON, D.C. 20549**\n\n**FORM ****10-Q**\n\n**(Mark One)**\n\n​\n\n​\n\n☒\n\n**QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n​\n\n​\n\n​\n\n**For the quarterly period ended****March 31, 2026**\n\n​\n\n​\n\n​\n\n**OR**\n\n​\n\n​\n\n☐\n\n**TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n​\n\n**For the transition period from ________ to ________**\n\n**Commission File Number:****001-39231**\n\n**PASSAGE BIO, INC.**\n\n**(Exact Name of Registrant as Specified in its Charter)**\n\n​\n\n​\n\n​\n\n**Delaware**\n\n**82-2729751**\n\n**(State or other jurisdiction of**\n\n**incorporation or organization)**\n\n**(I.R.S. Employer**\n**Identification No.)**\n\n​\n\n​\n\n**One Commerce Square**\n\n**2005 Market Street, 39**th**Floor**\n\n**Philadelphia****,****PA******\n\n**19103**\n\n**(Address of principal executive offices)**\n\n**(Zip Code)**\n\n​\n\n**Registrant’s telephone number, including area code: (****267****)****866-0311**\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n​\n\n​\n\n​\n\n​\n\nTitle of each class\n\nTrading Symbol\n\nName of each exchange on which registered\n\nCommon Stock\n\nPASG\n\nThe Nasdaq Stock Market LLC\n\n(Nasdaq Capital Market)\n\n​\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ⌧ No ◻\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ⌧ No ◻\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nLarge accelerated filer\n\n  ​ ​ ​\n\n◻\n\n  ​ ​ ​\n\nAccelerated filer\n\n  ​ ​ ​\n\n◻\n\nNon-accelerated filer\n\n​\n\n☒\n\n​\n\nSmaller reporting company\n\n​\n\n☒\n\nEmerging growth company\n\n​\n\n◻\n\n​\n\n​\n\n​\n\n​\n\n​\n\nIf 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. ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\n​\n\nAs of May 7, 2026, the registrant had 3,207,810 shares of common stock, $0.0001 par value per share, outstanding.\n\n​\n\n​\n\n​\n\n[Table of Contents](#TOC)\n\n**CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS**\n\nThis Quarterly Report on Form 10-Q contains forward-looking statements. All statements other than statements of historical facts contained in this Quarterly Report are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “aim,” “may,” “will,” “should,” “expect,” “forecast,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. All statements other than statements of historical fact contained in this Quarterly Report, including without limitation statements regarding our plans to develop and commercialize our product candidates, our evaluation of potential next steps in the clinical development of our product candidates, the timing and results of our ongoing or planned preclinical studies and clinical trials, risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, the timing of and our ability to obtain and maintain regulatory approvals, the clinical utility of our product candidates, the potential development of other product candidates, our commercialization, marketing and manufacturing capabilities and strategy, our expectations about the willingness of healthcare professionals to use our product candidates, the timing or amount of any potential future milestone or royalty payments, the sufficiency of our cash and cash equivalents, our exploration of potential strategic alternatives, the entry into or completion of any strategic alternative transaction, the expected costs associated with termination benefits and the financial impact of our restructuring and reduction in workforce, general economic, industry and market conditions, including fluctuating interest rates and inflation, changing tariff policies and trade restrictions, geopolitical conflicts, any future potential federal government shutdowns, instability in the global banking system, and the plans and objectives of management for future operations and capital expenditures are forward-looking statements.\n\nThe forward-looking statements in this Quarterly Report are only predictions and are based largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. These forward-looking statements speak only as of the date of this Quarterly Report and are subject to a number of known and unknown risks, uncertainties and assumptions, including those described under the sections in this Quarterly Report entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in this Quarterly Report.\n\nBecause forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control, you should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. We intend the forward-looking statements contained in this Quarterly Report to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act.\n\n**TRADEMARKS AND TRADENAMES**\n\n“PASSAGE BIO” is a registered trademark, and the PASSAGE BIO mark, the Passage Bio logo and all product names are our common law trademarks. All other service marks, trademarks and tradenames appearing in this Quarterly Report on Form 10-Q are the property of their respective owners. Solely for convenience, the trademarks and tradenames referred to in this Quarterly Report on Form 10-Q appear without the ® and ™ symbols, but those references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights, or the right of the applicable licensor to these trademarks and tradenames.\n\n2\n\n[Table of Contents](#TOC)\n\n**Table of Contents**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n  ​ ​ ​\n\n​\n\n**Page**\n\n[**PART I.**](#PARTIFINANCIALINFORMATION_861658)\n\n​\n\n[FINANCIAL INFORMATION](#PARTIFINANCIALINFORMATION_861658)\n\n4\n\n[Item 1.](#Item1FinancialStatements_29522)\n\n​\n\n[Interim Financial Statements (Unaudited)](#Item1FinancialStatements_29522)\n\n4\n\n​\n\n​\n\n[Balance Sheets](#BalanceSheets_458716)\n\n4\n\n​\n\n​\n\n[Statements of Operations and Comprehensive Loss](#StatementsofOperations_528968)\n\n5\n\n​\n\n​\n\n[Statements of Stockholders’ Equity](#StockholdersEquityDeficit_708560)\n\n6\n\n​\n\n​\n\n[Statements of Cash Flows](#StatementsofCashFlows_443833)\n\n7\n\n​\n\n​\n\n[Notes to Unaudited Interim Financial Statements](#Notes)\n\n8\n\n[Item 2.](#Item2ManagementsDiscussionandAnalysisofF)\n\n​\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#Item2ManagementsDiscussionandAnalysisofF)\n\n25\n\n[Item 3.](#Item3QuantitativeandQualitativeDisclosur)\n\n​\n\n[Quantitative and Qualitative Disclosures About Market Risk](#Item3QuantitativeandQualitativeDisclosur)\n\n39\n\n[Item 4.](#Item4ControlsandProcedures_237145)\n\n​\n\n[Controls and Procedures](#Item4ControlsandProcedures_237145)\n\n39\n\n[**PART II.**](#PARTIIOTHERINFORMATION_958375)\n\n​\n\n[OTHER INFORMATION](#PARTIIOTHERINFORMATION_958375)\n\n40\n\n[Item 1.](#Item1LegalProceedings_363228)\n\n​\n\n[Legal Proceedings](#Item1LegalProceedings_363228)\n\n40\n\n[Item 1A.](#Risk_Factors)\n\n​\n\n[Risk Factors](#Risk_Factors)\n\n40\n\n[Item 2.](#Item2UnregisteredSalesofEquitySecurities)\n\n​\n\n[Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](#Item2UnregisteredSalesofEquitySecurities)\n\n41\n\n[Item 3.](#Item3DefaultsUponSeniorSecurities_838558)\n\n​\n\n[Defaults Upon Senior Securities](#Item3DefaultsUponSeniorSecurities_838558)\n\n41\n\n[Item 4.](#Item4MineSafetyDisclosures_482565)\n\n​\n\n[Mine Safety Disclosures](#Item4MineSafetyDisclosures_482565)\n\n41\n\n[Item 5.](#Item5OtherInformation_703849)\n\n​\n\n[Other Information](#Item5OtherInformation_703849)\n\n41\n\n[Item 6.](#Item6Exhibits_779607)\n\n​\n\n[Exhibits](#Item6Exhibits_779607)\n\n42\n\n[Signatures](#SIGNATURES_243816)\n\n43\n\n​\n\n​\n\n​\n\n3\n\n[Table of Contents](#TOC)\n\nPART I - FINANCIAL INFORMATION"}