PassageBio jumps on extending cash runway, job cuts
15/03/2022 13:52
** Gene therapy co's PASG.O shares rise as much as 3.2% to
$2.90 in early trading
** PASG says decreasing expenses by reducing workforce by
about 13%; it will continue to execute its ongoing clinical
trials urn:newsml:reuters.com:*:nGNX6thFtz
** Co says its chief research and development officer,
Eliseo Salinas, will also retire
** PASG, which reported cash of $315.8 mln at 2021-end,
extends cash runway to 2024 vs previous guidance of end of 2023
urn:newsml:reuters.com:*:nGNX33qVyN
** As of Dec. 31, 2021, co had 133 full-time employees,
according to a regulatory filing (https://bit.ly/3tepuhO)
** Up to Monday's close, PASG was down 55.8% YTD
(Reporting by Bhanvi Satija in Bengaluru)
((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))