Brief: Passage Bio Announced Organizational Redesign To Further Extend Its Cash Runway

Passage Bio

20/07/2023 12:26

July 20 (Reuters) - Passage Bio Inc  PASG.O :
    * PASSAGE BIO INC - ON JULY 19, ANNOUNCED ORGANIZATIONAL
REDESIGN
TO FURTHER EXTEND ITS CASH RUNWAY
    * PASSAGE BIO - IN CONNECTION WITH ORGANIZATIONAL REDESIGN
SIMONA
KING CFO WILL SEPARATE FROM CO, EFFECTIVE ON OR ABOUT JULY 28
    * PASSAGE BIO INC - ON JULY 15, KATHLEEN BORTHWICK, CURRENT
VICE
PRESIDENT, FINANCE OF CO APPOINTED INTERIM CFO, EFFECTIVE ON OR
ABOUT JULY 28
    * PASSAGE BIO INC - WILL DECREASE OPERATING EXPENSES THROUGH
ONGOING CASH MANAGEMENT INITIATIVES AND BY REDUCING WORKFORCE BY
ABOUT 26% PERCENT
    * PASSAGE BIO - EXISTING CASH, CASH EQUIVALENTS, MARKETABLE
SECURITIES TO FUND OPERATING EXPENSES, CAPITAL EXPENDITURE
REQUIREMENTS INTO Q4 OF 2025

Source text for Eikon:  ID: 
Further company coverage:  PASG.O 

 ((Reuters.Briefs@thomsonreuters.com;))