NASDAQ : PASG
Passage Bio, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 3.45 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 11.10M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Selling, General & Admin | 20.93M | 19.88M | 24.99M | 41.58M | 45.54M | 60.06M |
| Research & Development | 17.16M | 23.28M | 40.18M | 61.42M | 83.75M | 117.67M |
| Operating Expenses | 38.09M | 43.15M | 65.17M | 103.00M | 129.29M | 177.73M |
| Operating Income | -38.09M | -43.15M | -65.17M | -103.00M | -129.29M | -177.73M |
| Interest & Investment Income | 1.50M | 2.30M | 4.30M | 5.60M | 2.30M | 3.12M |
| Other Non Operating Income (Expenses) | 1.41M | 1.47M | 1.33M | 727.00K | -31.00K | |
| EBT Excluding Unusual Items | -35.18M | -39.38M | -59.53M | -96.67M | -127.03M | -174.61M |
| Merger & Restructuring Charges | -6.10M | |||||
| Gain (Loss) on Sale of Investments | -2.78M | |||||
| Asset Writedown | -3.51M | -6.14M | -5.23M | -5.39M | ||
| Pretax Income | -36.11M | -45.52M | -64.77M | -102.06M | -136.12M | -185.39M |
| Net Income | -36.11M | -45.52M | -64.77M | -102.06M | -136.12M | -185.39M |
| Net Income to Common | -36.11M | -45.52M | -64.77M | -102.06M | -136.12M | -185.39M |
| Shares Outstanding (Basic) | 3.19M | 3.17M | 3.08M | 2.74M | 2.72M | 2.67M |
| Shares Outstanding (Diluted) | 3.19M | 3.17M | 3.08M | 2.74M | 2.72M | 2.67M |
| EPS (Basic) | -11.31 | -14.35 | -21.04 | -37.29 | -50.02 | -69.51 |
| EPS (Diluted) | -11.31 | -14.35 | -21.04 | -37.29 | -50.02 | -69.51 |
| Free Cash Flow | -33.50M | -31.51M | -47.99M | -78.41M | -120.48M | -144.52M |
| Free Cash Flow Per Share | -10.49 | -9.93 | -15.59 | -28.65 | -44.27 | -54.19 |
| EBITDA | -37.58M | -42.42M | -62.09M | -99.28M | -125.61M | -176.19M |
| D&A For EBITDA | 512.00K | 728.00K | 3.08M | 3.72M | 3.68M | 1.54M |
| EBIT | -38.09M | -43.15M | -65.17M | -103.00M | -129.29M | -177.73M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 24.16M | 46.30M | 37.57M | 21.71M | 34.60M | 128.97M |
| Short-Term Investments | 39.18M | 92.58M | 155.01M | 186.81M | ||
| Cash & Short-Term Investments | 24.16M | 46.30M | 76.76M | 114.29M | 189.61M | 315.77M |
| Prepaid Expenses | 768.00K | 629.00K | 838.00K | 923.00K | 926.00K | 1.73M |
| Other Current Assets | 252.00K | 830.00K | 1.22M | 2.74M | 6.51M | 7.57M |
| Total Current Assets | 25.18M | 47.76M | 78.81M | 117.96M | 197.04M | 325.07M |
| Property, Plant & Equipment | 14.28M | 23.13M | 32.15M | 42.24M | 23.81M | |
| Other Long-Term Assets | 244.00K | 463.00K | 433.00K | 4.27M | 6.20M | |
| Total Assets | 25.18M | 62.28M | 102.41M | 150.54M | 243.55M | 355.08M |
| Accounts Payable | 902.00K | 1.11M | 742.00K | 1.30M | 4.07M | 9.45M |
| Accrued Expenses | 3.57M | 4.65M | 6.71M | 9.67M | 10.93M | 19.39M |
| Current Portion of Leases | 3.57M | 3.69M | 3.37M | 3.27M | ||
| Other Current Liabilities | 16.25M | 13.75M | 8.23M | 2.00M | 85.00K | 661.00K |
| Total Current Liabilities | 20.72M | 23.08M | 19.36M | 16.34M | 18.35M | 29.50M |
| Long-Term Leases | 20.44M | 21.79M | 22.92M | 23.83M | ||
| Other Long-Term Liabilities | 6.92M | |||||
| Total Liabilities | 20.72M | 43.53M | 41.15M | 39.26M | 42.18M | 36.42M |
| Common Stock | 5.00K | 5.00K | 5.00K | |||
| Additional Paid-In Capital | 724.59M | 723.51M | 720.49M | 705.79M | 694.73M | 675.35M |
| Retained Earnings | -720.14M | -704.76M | -659.24M | -594.47M | -492.41M | -356.28M |
| Comprehensive Income & Other | 8.00K | -43.00K | -966.00K | -413.00K | ||
| Total Common Equity | 4.46M | 18.75M | 61.26M | 111.28M | 201.37M | 318.66M |
| Shareholders' Equity | 4.46M | 18.75M | 61.26M | 111.28M | 201.37M | 318.66M |
| Total Liabilities & Equity | 25.18M | 62.28M | 102.41M | 150.54M | 243.55M | 355.08M |
| Total Debt | 24.01M | 25.48M | 26.29M | 27.11M | ||
| Net Cash (Debt) | 24.16M | 22.29M | 51.28M | 88.00M | 162.50M | 315.77M |
| Net Cash Per Share | 7.56 | 7.03 | 16.66 | 32.15 | 59.71 | 118.39 |
| Filing Date Shares Outstanding | 3.22M | 3.21M | 3.11M | 2.78M | 2.73M | 2.71M |
| Total Common Shares Outstanding | 3.22M | 3.18M | 3.10M | 2.75M | 2.73M | 2.71M |
| Working Capital | 4.46M | 24.68M | 59.45M | 101.62M | 178.69M | 295.57M |
| Book Value Per Share | 1.38 | 5.89 | 19.74 | 40.51 | 73.74 | 117.49 |
| Tangible Book Value | 4.46M | 18.75M | 61.26M | 111.28M | 201.37M | 318.66M |
| Tangible Book Value Per Share | 1.38 | 5.89 | 19.74 | 40.51 | 73.74 | 117.49 |
| Machinery | 1.51M | 11.67M | 11.68M | 12.87M | 12.05M | |
| Construction In Progress | 638.00K | 1.29M | 822.00K | |||
| Leasehold Improvements | 6.51M | 7.39M | 10.21M | 13.51M | 13.41M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -36.11M | -45.52M | -64.77M | -102.06M | -136.12M | -185.39M |
| Depreciation & Amortization | 512.00K | 728.00K | 3.08M | 3.72M | 3.68M | 1.54M |
| Loss (Gain) From Sale of Assets | 463.00K | |||||
| Asset Writedown & Restructuring Costs | 3.51M | 6.14M | 5.23M | 5.39M | 3.00M | 8.00M |
| Loss (Gain) From Sale of Investments | 129.00K | -1.53M | -2.04M | 773.00K | 2.78M | |
| Stock-Based Compensation | 2.30M | 3.00M | 5.82M | 10.92M | 18.95M | 32.69M |
| Other Operating Activities | -2.58M | 14.00K | 2.08M | |||
| Change in Accounts Payable | 16.00K | 1.88M | -556.00K | -2.79M | -5.41M | 2.20M |
| Change in Other Net Operating Assets | -1.15M | 2.12M | 4.76M | 8.13M | -3.08M | 9.22M |
| Operating Cash Flow | -33.50M | -31.51M | -47.96M | -78.26M | -118.21M | -126.88M |
| Capital Expenditures | -34.00K | -146.00K | -2.27M | -17.64M | ||
| Sale of Property, Plant & Equipment | 20.00K | 1.17M | ||||
| Sale (Purchase) of Intangibles | -3.00M | -8.00M | ||||
| Investment in Securities | 39.05M | 54.98M | 65.38M | 30.47M | -20.17M | |
| Investing Cash Flow | 20.00K | 40.22M | 54.95M | 65.24M | 25.20M | -45.81M |
| Issuance of Common Stock | 9.00K | 23.00K | 8.87M | 135.00K | 433.00K | 166.99M |
| Other Financing Activities | -1.79M | -338.00K | ||||
| Financing Cash Flow | 9.00K | 23.00K | 8.87M | 135.00K | -1.35M | 166.66M |
| Net Cash Flow | -33.47M | 8.73M | 15.86M | -12.89M | -94.36M | -6.04M |
| Free Cash Flow | -33.50M | -31.51M | -47.99M | -78.41M | -120.48M | -144.52M |
| Free Cash Flow Per Share | -10.49 | -9.93 | -15.59 | -28.65 | -44.27 | -54.19 |
| Levered Free Cash Flow | -14.81M | -18.80M | -27.55M | -48.22M | -76.01M | -91.09M |
| Unlevered Free Cash Flow | -14.81M | -18.80M | -27.55M | -48.22M | -76.01M | -91.09M |
| Change in Working Capital | -1.13M | 4.00M | 4.20M | 5.34M | -8.49M | 11.42M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 11.10M | 37.51M | 35.03M | 55.37M | 75.28M | 343.58M |
| Enterprise Value | -13.05M | 9.07M | -23.98M | -50.89M | -111.19M | -10.82M |
| Last Close Price | 3.45 | 11.80 | 11.34 | 20.20 | 27.60 | 127.00 |
| PB Ratio | 2.49 | 2.00 | 0.57 | 0.50 | 0.37 | 1.08 |
| P/TBV Ratio | 2.49 | 2.00 | 0.57 | 0.50 | 0.37 | 1.08 |
| Debt / Equity Ratio | 1.28 | 0.42 | 0.24 | 0.14 | ||
| Net Debt / Equity Ratio | -5.42 | -1.19 | -0.84 | -0.79 | -0.81 | -0.99 |
| Net Debt / EBITDA Ratio | 0.64 | 0.53 | 0.83 | 0.89 | 1.29 | 1.79 |
| Net Debt / FCF Ratio | 0.72 | 0.71 | 1.07 | 1.12 | 1.35 | 2.19 |
| Quick Ratio | 1.17 | 2.01 | 3.96 | 6.99 | 10.33 | 10.71 |
| Current Ratio | 1.22 | 2.07 | 4.07 | 7.22 | 10.74 | 11.02 |
| Return on Equity (ROE) | -169.09% | -113.78% | -75.07% | -65.29% | -52.35% | -59.48% |
| Return on Assets (ROA) | -45.62% | -32.75% | -32.20% | -32.67% | -27.00% | -32.52% |
| Return on Capital Employed (ROCE) | -854.80% | -110.10% | -78.50% | -76.70% | -57.40% | -54.60% |
| Earnings Yield | -327.79% | -121.36% | -184.90% | -184.34% | -180.82% | -53.96% |
| FCF Yield | -301.76% | -84.00% | -137.00% | -141.62% | -160.04% | -42.06% |
| Buyback Yield / Dilution | -1.12% | -3.06% | -12.48% | -0.58% | -2.03% | -38.14% |