PHILADELPHIA, PA — Passage Bio, Inc. (Nasdaq: PASG) reported fourth-quarter and full-year 2025 financial results while providing updates on its clinical program studying PBFT02, a gene therapy candidate for genetic forms of frontotemporal dementia.
The company said it enrolled the first three patients with frontotemporal dementia caused by GRN mutations in Cohort 3 of its ongoing upliFT-D clinical trial.
Passage Bio also reported treating the first patient with frontotemporal dementia linked to C9orf72 mutations using the second dose level of PBFT02 in Cohort 4 of the study.
Chief Executive Officer Will Chou said the company plans to share updated safety and biomarker data from the trial during the first half of 2026.
“As we enter 2026, we are excited by the strong enrollment momentum in our upliFT-D clinical study and look forward to sharing important data and regulatory updates in the first half of the year,” Chou said.
The upliFT-D trial is a Phase 1/2 global study evaluating a single injection of PBFT02 delivered into the cisterna magna in patients aged 35 to 75 with genetic forms of frontotemporal dementia.
The study will enroll three cohorts of patients with GRN mutations and two cohorts with C9orf72 mutations.
The primary endpoint of the trial is to evaluate safety and tolerability, while secondary measures include disease biomarkers and clinical outcomes.
Passage Bio said it also continues to advance a preclinical gene therapy program targeting Huntington’s disease.
The company expects to select a clinical candidate for that program in the second half of 2026.
Passage Bio reported cash and cash equivalents of $46.3 million as of December 31, 2025.
The company said existing funds are expected to support operations through the first quarter of 2027.
Research and development expenses totaled $23.3 million for the full year, compared with $40.2 million in 2024.
General and administrative expenses were $19.9 million in 2025, down from $25.0 million the previous year.
The company reported a net loss of $45.5 million, or $14.35 per share, for 2025, compared with a net loss of $64.8 million, or $21.04 per share, in 2024.
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