Passage Bio, Inc. Reports Q2 2023 Net Loss of $23.9 Million
Revenue Decline Noted with Q2 2023 Revenue Standing at $Nil
Passage Bio, Inc.(PASG), a biotechnology company s pecializing in developing transformative therapies for rare and life-threatening neurological disorders, has released its unaudited interim financial statements for the second quarter of 2023. The financial results indicate a net loss of $23.9 million for the three months ended June 30, 2023, while the company's revenue for the same period stood at $Nil.
Interim Financial Statements
Passage Bio's Balance Sheets Show Asset Decline
The unaudited balance sheets of Passage Bio, Inc. reveal a decrease in total assets from $243.5 million as of December 31, 2022, to $193.7 million as of June 30, 2023. Notably, current assets decreased from $197.0 million to $153.6 million during this period. The company's marketable securities also witnessed a decline, decreasing from $155.0 million to $121.2 million.
