PASG · Passage Bio, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $4.09M | - | $8.66M | $5.81M | $11.54M | - | $8.66M | $10.43M | $11.54M | - |
| SG&A | $4.79M | - | $4.35M | $4.52M | $6.08M | - | $7.25M | $6.51M | $6.51M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $129.0K | - | $200.0K | $200.0K | $201.0K | - | $800.0K | $800.0K | $806.0K | - |
| Operating Income | ($8.25M) | - | ($8.65M) | ($10.33M) | ($16.46M) | - | ($20.70M) | ($17.38M) | ($18.05M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | ($7.56M) | - | ($7.75M) | ($9.38M) | ($15.40M) | - | ($19.34M) | ($15.99M) | ($16.71M) | - |
| EPS - Basic | ($2.36) | - | ($2.44) | ($2.96) | ($5.00) | - | ($6.20) | ($5.20) | ($6.00) | - |
| EPS - Diluted | ($2.36) | - | ($2.44) | ($2.96) | ($5.00) | - | ($6.20) | ($5.20) | ($6.00) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $33.34M | $46.30M | $52.77M | $57.63M | $63.36M | $37.57M | $32.29M | $24.77M | $36.77M | $21.71M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $1.31M | $1.11M | $952.0K | $2.40M | $1.46M | $742.0K | $1.49M | $621.0K | $1.69M | $1.30M |
| Current Assets | $34.74M | $47.76M | $55.73M | $60.31M | $66.67M | $78.81M | $87.22M | $95.00M | $108.29M | $117.96M |
| Total Assets | $36.46M | $62.28M | $74.16M | $79.20M | $86.01M | $102.41M | $111.75M | $125.39M | $140.53M | $150.54M |
| Current Liabilities | $20.10M | $23.08M | $22.25M | $19.80M | $17.82M | $19.36M | $16.95M | $12.38M | $12.84M | $16.34M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $24.71M | $43.53M | $43.04M | $40.94M | $39.30M | $41.15M | $39.04M | $34.84M | $35.65M | $39.26M |
| Stockholders' Equity | $11.75M | $18.75M | $31.12M | $38.26M | $46.71M | $61.26M | $72.72M | $90.56M | $104.88M | $111.28M |
| Retained Earnings | ($712.32M) | ($704.76M) | ($691.77M) | ($684.02M) | ($674.64M) | ($659.24M) | ($646.51M) | ($627.17M) | ($611.18M) | ($594.47M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($12.99M) | - | - | - | ($13.85M) | - | - | - | ($18.93M) | - |
| Investing Cash Flow | $20.0K | - | - | - | $39.63M | - | - | - | $25.25M | - |
| Financing Cash Flow | - | - | - | - | - | - | - | - | $8.74M | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -20.7% | - | -10.4% | -11.9% | -17.9% | - | -17.3% | -12.8% | -11.9% | - |
| Return on equity | -64.3% | - | -24.9% | -24.5% | -33.0% | - | -26.6% | -17.7% | -15.9% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.73 | 2.07 | 2.51 | 3.05 | 3.74 | 4.07 | 5.15 | 7.67 | 8.43 | 7.22 |
| Quick ratio | 1.73 | 2.07 | 2.51 | 3.05 | 3.74 | 4.07 | 5.15 | 7.67 | 8.43 | 7.22 |
| Cash ratio | 1.66 | 2.01 | 2.37 | 2.91 | 3.55 | 1.94 | 1.91 | 2.00 | 2.86 | 1.33 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 3.10 | 3.32 | 2.38 | 2.07 | 1.84 | 1.67 | 1.54 | 1.38 | 1.34 | 1.35 |
| Liabilities / Assets | 0.68 | 0.70 | 0.58 | 0.52 | 0.46 | 0.40 | 0.35 | 0.28 | 0.25 | 0.26 |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 2.1x | - | 0.8x | 0.7x | 9.4x | - | 11.9x | 10.8x | 14.5x | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 49.9% | - | 58.2% | 40.5% | 8.8% | - | 27.8% | 31.6% | 49.7% | - |
| Net income growth (YoY) | 50.9% | - | 59.9% | 41.3% | 7.8% | - | 28.7% | 33.0% | 51.3% | - |
| EPS growth (YoY) | 52.8% | - | 60.6% | 43.1% | 16.7% | - | -1165.3% | -1081.8% | -852.4% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -74.8% | -69.4% | -57.2% | -57.8% | -55.5% | -45.0% | -42.4% | -39.8% | -38.4% | -44.7% |
Peer comparison
Same SIC group: Biological Products, (No Diagnostic Substances)
Comparing Passage BIO against the 5 most active filers in the same SIC group.