Monitor upcoming interim safety and biomarker data from upliFT-D in 1H 2026, which could serve as a near-term catalyst; the improved cash position reduces near-term dilution risk.
Price Chart
Executive Summary
Passage Bio reported Q4 and full-year 2025 financial results, highlighting clinical progress in its upliFT-D trial for frontotemporal dementia, including enrollment in new cohorts and a cash runway extending into Q1 2027. While R&D and net loss decreased year-over-year, no revenue was generated as the company remains pre-revenue with ongoing clinical development.
Key Financial Metrics
Key Facts
- Cash and cash equivalents were $46.3 million as of December 31, 2025, down from $76.8 million in 2024.
- R&D expenses decreased to $23.3 million in 2025 from $40.2 million in 2024.
- Net loss narrowed to $45.5 million in 2025 from $64.8 million in 2024.
- Enrolled first three FTD-GRN patients in Cohort 3 and treated first FTD-C9orf72 patient in Cohort 4 of the upliFT-D study.
- Cash runway expected through Q1 2027.
Financial Impact
Reduced cash burn with R&D down 42% YoY and net loss reduced by $19.3 million, improving financial sustainability.
Risk Factors
- Clinical trial setbacks or adverse safety events could negatively impact valuation.
- No revenue generation expected for several years as company remains in clinical development phase.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3248197 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 29d ago | S-4/A / 425 | $4.75 $5.00 | ▼ −5.26% | ▼ −6.41% | $4.33 (+8.84%) |
Sep 3, 2026 29d ago | 8-K | $4.75 $5.00 | ▲ +5.26% | ▲ +6.41% | $4.33 (−8.84%) |
Jun 24, 2026 14w ago | 425 | $4.33 $4.58 | ▼ −5.77% | ▼ −4.21% | $4.33 (+0.00%) |
Jun 24, 2026 14w ago | 425 | $4.33 $4.58 | ▼ −5.77% | ▼ −4.21% | $4.33 (+0.00%) |
Jun 24, 2026 14w ago | 8-K | $4.33 $4.58 | ▼ −5.77% | ▼ −4.21% | $4.33 (+0.00%) |
May 27, 2026 18w ago | 8-K | $5.71 $6.00 | ▼ −5.08% | ▼ −4.76% | $4.33 (+24.17%) |
Apr 20, 2026 23w ago | 8-K | $6.25 $5.71 | ▼ −8.64% | ▼ −9.55% | $4.33 (−30.72%) |
Apr 20, 2026 23w ago | Press Release | $6.25 $5.71 | ▼ −8.64% | ▼ −9.55% | $4.33 (−30.72%) |
Apr 7, 2026 25w ago | DEFA14A | $8.22 $10.86 | ▲ +32.20% | ▲ +26.87% | $4.33 (−47.29%) |
Mar 3, 2026 30w ago | Press Release | $8.00 $8.51 | ▲ +6.38% | ▲ +6.85% | $4.33 (−45.88%) |
US Market Status
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