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PASGPassage BIO, Inc.

Is Passage BIO struggling financially?

Yes, by its own account. Passage BIO told the SEC on 12 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

15/100

Critical

Sector
Biotech/Pharma
Market cap
$14.3M
Source filing
10-Q 12 May 2026
Balance sheet
30 Jun 2026

Cash runway

  • 3months

    If the burn speeds up

    Empty by Sep 2026

  • 6months

    If it eases off

    Empty by Dec 2026

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$24.2M

÷

Cash burned over the last 12 months

$66.7M

What Passage BIO told the SEC

…$ 33.3 million, which the Company does not expect to be sufficient to meet the Company’s capital requirements over the next 12 months. As a result, there is substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these financial statements are issued. The financial statements do not include any adjustments to the carrying amounts and classification of assets,…

Passage BIO, Inc., Form 10-Q, filed 12 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

Other Biotech/Pharma companies that filed the doubt