Passage BIO, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $23.3M | $40.2M | $61.4M | $86.1M | $117.7M |
| Operating income | -$49.3M | -$70.4M | -$108.4M | -$138.4M | -$185.7M |
| Income tax expense | $0 | $0 | — | — | — |
| Net income | -$45.5M | -$64.8M | -$102.1M | -$136.1M | -$185.4M |
| Balance Sheet | |||||
| Cash and equivalents | $46.3M | $37.6M | $21.7M | $34.6M | $129.0M |
| Current assets | $47.8M | $78.8M | $118.0M | $197.0M | $325.1M |
| Total assets | $62.3M | $102.4M | $150.5M | $243.5M | $355.1M |
| Current liabilities | $23.1M | $19.4M | $16.3M | $18.4M | $29.5M |
| Total liabilities | $43.5M | $41.2M | $39.3M | $42.2M | $36.4M |
| Stockholders' equity | $18.8M | $61.3M | $111.3M | $201.4M | $318.7M |
| Cash Flow Statement | |||||
| Cash from operations | -$31.5M | -$48.0M | -$78.3M | -$118.2M | -$126.9M |
| Depreciation and amortization | $728,000 | $3.1M | $3.7M | $3.7M | $1.5M |
| Stock-based compensation | $3.0M | $5.8M | $10.9M | $19.0M | $32.7M |
| Capital expenditure | — | $34,000 | — | — | — |
| Free cash flow | — | -$48.0M | — | — | — |
| Impairments | $6.1M | $5.2M | $5.4M | $0 | $0 |
Shares outstanding 3.2M
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.