Passage BIO, Inc. 2026: Revenue ($7.82M), Net income ($7.82M), EPS ($2.44) — 10-Q Summary
Passage Bio, Inc. (PASG) reported a quarter ended 2026 with comprehensive loss and net loss of $7.82M, compared with $9.39M a year earlier, and diluted loss per share of $2.44 versus $2.96. The company said it signed a merger agreement with Remix, expects closing in Q4 2026 with $100M financing, is winding down AAV programs, and has $24.2M cash as of June 30, 2026.
How this was made
The 30-second read
Why it matters
Traders should focus on liquidity (cash runway), deal execution (merger approvals and Q4 2026 closing), and the operational reset (AAV program wind-down and license out/transfer activity).
Market read
A single filing bundles losses, restructuring progress, gene-therapy wind-down, and a merger closing/liquidity dependency, which can drive valuation and dilution expectations.
What to watch
The article does not quantify expected post-merger cash burn, probability of approvals, or financing terms beyond the $100M headline, which could materially change risk.
Background
Passage BIO’s 10-Q summarizes quarterly financial results and multiple corporate actions, including a planned merger and operational restructuring.
Ticker impact
Passage BIO reported a 10-Q with a $7.82M net loss and disclosed a merger agreement with Remix plus a $100M financing plan.
Near-term downside bias as liquidity runway is constrained and operations depend on merger closing or new financing.
The article’s newest facts are the quarter’s loss figures, the merger agreement timing (closing expected Q4 2026), and the stated cash runway of $24.2M as of June 30, 2026.
Market effects
Highlights ongoing biotech cost cutting and program wind-downs, reinforcing sector-wide financing and execution risk for gene-therapy developers.
No clear regional spillover beyond US microcap biotech sentiment.
Limited global relevance; primarily company-specific liquidity and deal execution.
Counterpoint
The merger and $100M financing could extend runway and accelerate a pipeline transition, potentially reducing long-term dilution risk if approvals proceed.
Key entities
- issuerPassage BIO, Inc.
Reported quarterly comprehensive loss and disclosed merger, restructuring, and program wind-down details in its 10-Q.
- counterpartyRemix
Merger agreement counterparty; closing expected in Q4 2026 subject to approvals and concurrent $100M financing.
- counterpartyCatalent
Named in the wind-down as part of terminated manufacturing, collaboration, and license agreements.
- counterpartyGemma
Named in the wind-down and pipeline transition via out-licensing and research transfer.
- counterpartyUniversity of Pennsylvania
Named in the pipeline transition and partial termination of PBFT02 license rights to Penn for FTD-GRN.
