Current Report Filing (8-k)
March 15 2022 - 7:15AM
Edgar (US Regulatory)
0001787297
false
0001787297
2022-03-15
2022-03-15
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 15, 2022
PASSAGE BIO, INC.
(Exact name of registrant as specified in its
charter)
Delaware |
001-39231 |
82-2729751 |
(State or other jurisdiction
of incorporation) |
(Commission
File Number) |
(IRS Employer
Identification No.) |
One
Commerce Square
2005 Market Street, 39th Floor
Philadelphia, PA |
19103 |
(Address of principal executive offices) |
(Zip Code) |
(267) 866-0311
(Registrant’s telephone number, including
area code)
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading symbol(s) |
Name of each exchange on which registered |
Common Stock, $0.0001 Par Value Per Share |
PASG |
The Nasdaq Stock Market LLC
(Nasdaq Global Select Market) |
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company x
If an emerging growth
company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01 Other Events.
On
March 15, 2022, Passage Bio, Inc. (the “Company”) announced an update on its strategic priorities
to extend its cash runway. The Company will decrease operating expenses by reducing the workforce by approximately 13 percent and
prioritizing its research and development programs in partnership with the University of Pennsylvania’s Gene Therapy Program. As
a result, the Company now expects that its existing cash, cash equivalents and marketable securities
will enable it to fund its operating expenses and capital expenditure requirements into the second quarter of 2024.
The
Company further announced that Eliseo O. Salinas, M.D., MSc, the Company’s Chief Research and Development Officer, will be
retiring and departing from the Company effective March 18, 2022. Mark Forman, M.D., Ph.D., the Company’s Chief Medical Officer,
will continue to lead execution of the Company’s ongoing clinical trials.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
PASSAGE BIO, INC. |
|
|
|
Date: March 15, 2022 |
By: |
/s/ Simona King |
|
|
Simona King |
|
|
Chief Financial Officer |
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