Brief: Passage Bio Reports Q3 2022 Financial Results

Passage Bio

10/11/2022 12:41

Nov 10 (Reuters) - Passage Bio Inc  PASG.O :
    * PASSAGE BIO REPORTS THIRD QUARTER 2022 FINANCIAL RESULTS
AND
PROVIDES BUSINESS UPDATES
    * Q3 LOSS PER SHARE $0.49
    * PASSAGE BIO - COMPANY TO STREAMLINE OPERATIONS AND REFOCUS
STRATEGY
    * PASSAGE BIO - ADVANCING IMAGINE-1 CLINICAL TRIAL FOR GM1
GANGLIOSIDOSIS,UPLIFT-D CLINICAL TRIAL FOR FRONTOTEMPORAL
DEMENTIA
    * ADVANCING PRECLINICAL PIPELINE IN ADULT CNS INDICATIONS
    * CASH RUNWAY EXTENDED INTO 1H 2025
    * WILL DECREASE OPERATING EXPENSES BY REDUCING WORKFORCE BY
ABOUT
23 PERCENT AND PRIORITIZING RESEARCH AND DEVELOPMENT INVESTMENTS
    * WILL STOP FURTHER CLINICAL DEVELOPMENT OF PBKR03 FOR
KRABBE
DISEASE AND EXPLORE STRATEGIC ALTERNATIVES TO ADVANCE THIS
PROGRAM
    * WILL EXPLORE STRATEGIC ALTERNATIVES TO ADVANCE PROGRAM FOR
METACHROMATIC LEUKODYSTROPHY, PBML04
    * PASSAGE BIO - TO PRIORITIZE ADVANCING PROGRAMS FOR
AMYOTROPHIC
LATERAL SCLEROSIS & HUNTINGTON'S DISEASE
    * QTRLY NET LOSS PER SHARE OF COMMON STOCK, BASIC AND
DILUTED
$0.49
    * Q3 EARNINGS PER SHARE VIEW $-0.79 -- REFINITIV IBES DATA

Source text for Eikon:  ID:nGNX1F3nC2 
Further company coverage:  PASG.O 
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