Passage Bio Inc (PASG)

Vestal Point Capital, LP and Ryan Wilder have filed an amended Schedule 13G/A for Passage Bio, Inc. (PASG), indicating they no longer hold any beneficial ownership in the company. The filing shows 0 shares beneficially owned and 0% of outstanding common stock, with no voting or dispositive power. Vestal Point Capital, LP clarifies that it previously served as an investment adviser to a fund and managed account that held Passage Bio common stock.

Passage Bio (NASDAQ: PASG) reported stronger-than-expected Q2 results, with EPS of $(2.44), surpassing analyst estimates of $(3.47) by 29.68%. This performance also marked a 17.57% year-over-year improvement in losses compared to the previous year's $(2.96) per share deficit. The earnings beat suggests better cost management or revenue performance relative to market projections, highlighting a trend of stabilizing financial performance for the company.

Passage Bio reported a Q2 net loss of $7.82 million, a 16.67% improvement from the previous year, with an operating loss of $8.27 million. Despite reduced R&D expenses, general and administrative costs rose. The company is winding down gene-therapy programs, terminating key contracts, and anticipates a merger with Remix to close in Q4 2026, while also flagging substantial doubt about its going-concern status due to its $24.2 million cash reserves.

Passage Bio (PASG) reported a Q2 2026 net loss of $7.8 million and a six-month net loss of $15.4 million, with cash and cash equivalents declining to $24.2 million. The company disclosed substantial doubt about its ability to continue as a going concern without the proposed merger with Remix Therapeutics or securing additional funding. The merger, expected to close in Q4 2026, involves Remix holders owning approximately 65% of the combined company, existing Passage Bio stockholders about 6%, and new financing investors about 29%, along with contingent value rights for Passage Bio stockholders from Gemma license agreements.

Passage BIO, Inc. reported a comprehensive loss and net loss of ($7.82M) for the quarter ended 2026, with a diluted loss per share of ($2.44), showing an improvement compared to the prior year. The company is undergoing significant changes including a merger agreement with Remix, winding down AAV gene therapy programs, and a substantial workforce reduction, alongside strategic pipeline transitions and a constrained cash runway.