{"id":868226,"date":"2025-07-10T07:30:02","date_gmt":"2025-07-10T11:30:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/passage-bio-announces-1-for-20-reverse-stock-split\/"},"modified":"2025-07-10T07:30:02","modified_gmt":"2025-07-10T11:30:02","slug":"passage-bio-announces-1-for-20-reverse-stock-split","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/passage-bio-announces-1-for-20-reverse-stock-split\/","title":{"rendered":"Passage Bio Announces 1-for-20 Reverse Stock Split"},"content":{"rendered":"
\n

PHILADELPHIA, July 10, 2025 (GLOBE NEWSWIRE) — Passage Bio, Inc. (\u201cPassage Bio<\/em>\u201d or the \u201cCompany<\/em>\u201d) (NASDAQ: PASG), a clinical-stage genetic medicines company focused on improving the lives of patients with neurodegenerative diseases, today announced that its Board of Directors (\u201cBoard<\/em>\u201d) has approved a reverse stock split of the company\u2019s outstanding shares of common stock at a ratio of 1-for-20. The reverse stock split will become effective at 12:01 a.m. Eastern time on July 14, 2025. Passage Bio\u2019s common stock will begin trading on a post-reverse stock split basis on July 14, 2025, under the Company\u2019s existing trading symbol \u201cPASG\u201d with a new CUSIP number of 702712 209. The reverse stock split is intended to regain compliance with Nasdaq\u2019s minimum bid price requirement of $1.00 per share.<\/p>\n

The reverse stock split was approved by Passage Bio\u2019s stockholders, at the Company\u2019s 2025 annual meeting of stockholders held on May 28, 2025, to be effected at the Board\u2019s discretion within approved parameters. The reverse stock split reduces the number of shares of the Company\u2019s outstanding common stock from approximately 62,405,898 shares to approximately 3,120,295. As a result of the reverse stock split, proportionate adjustments will be made to the exercise prices and number of shares of Passage Bio\u2019s common stock underlying the Company\u2019s outstanding equity awards for common stock, as well as the number of shares issuable under the Company\u2019s equity incentive and inducement plans, and employee stock purchase plan. There will be no change to the number of authorized shares or to the par value per share.<\/p>\n

\n Information for Passage Bio\u2019s <\/strong>
\n Stockholders<\/strong>\n <\/p>\n

Passage Bio\u2019s transfer agent, Computershare Trust Company, N.A., will serve as the exchange agent for the reverse stock split. Registered stockholders holding pre-split shares of Passage Bio\u2019s common stock electronically in book-entry form are not required to take any action to receive post-split shares. Those stockholders who hold their shares in brokerage accounts or in \u201cstreet name\u201d will have their positions automatically adjusted to reflect the reverse stock split, subject to each broker\u2019s particular processes, and will not be required to take any action in connection with the reverse stock split. None of Passage Bio\u2019s common stock is held in certificate form. No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise be entitled to receive fractional shares will receive the number of shares of common stock as rounded up to the nearest whole share. The reverse stock split will affect all of the Company\u2019s stockholders uniformly and would not affect any stockholder\u2019s percentage ownership interests, except to the extent that the reverse stock split results in such stockholder owning a fractional share.<\/p>\n

\n About Passage Bio,<\/strong>
\n Inc.<\/strong>\n <\/p>\n

Passage Bio (Nasdaq: PASG) is a clinical stage genetic medicines company on a mission to improve the lives of patients with neurodegenerative diseases. Our primary focus is the development and advancement of cutting-edge, one-time therapies designed to target the underlying pathology of these conditions. Passage Bio\u2019s lead product candidate, PBFT02, seeks to treat neurodegenerative conditions, including frontotemporal dementia, by elevating progranulin levels to restore lysosomal function and slow disease progression.<\/p>\n

To learn more about Passage Bio and our steadfast commitment to protecting patients and families against loss in neurodegenerative conditions, please visit:\u00a0passagebio.com<\/strong>.<\/p>\n

\n Forward<\/strong>
\n Looking<\/strong>
\n Statements<\/strong>\n <\/p>\n

This press release contains \u201cforward-looking statements\u201d within the meaning of, and made pursuant to the safe harbor provisions of, the Private Securities Litigation Reform Act of 1995, including, but not limited to, Passage Bio\u2019s future stock price, the effects of the reverse stock split on stockholders, compliance with Nasdaq listing standards and Passage Bio\u2019s ability to remain listed on the Nasdaq Capital Market. These forward-looking statements may be accompanied by such words as \u201caim,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cforecast,\u201d \u201cgoal,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cpossible,\u201d \u201cwill,\u201d \u201cwould,\u201d and other words and terms of similar meaning. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Information about the risks and uncertainties faced by Passage Bio is contained in the section captioned “Risk Factors” in documents the Company files from time to time with the Securities and Exchange Commission (\u201cSEC<\/em>\u201d) and other reports as filed with the SEC. In addition, the Company’s forward-looking statements could be affected by general industry and market conditions and regulatory approvals. You are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this press release. Passage Bio undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise or revise these forward-looking statements to reflect new events, uncertainties or other contingencies.<\/p>\n

\n Investor Contact:<\/strong>
\n
Stuart Henderson
Passage Bio
shenderson@passagebio.com<\/a><\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

PHILADELPHIA, July 10, 2025 (GLOBE NEWSWIRE) — Passage Bio, Inc. (\u201cPassage Bio\u201d or the \u201cCompany\u201d) (NASDAQ: PASG), a clinical-stage genetic medicines company focused on improving the lives of patients with neurodegenerative diseases, today announced that its Board of Directors (\u201cBoard\u201d) has approved a reverse stock split of the company\u2019s outstanding shares of common stock at a ratio of 1-for-20. The reverse stock split will become effective at 12:01 a.m. Eastern time on July 14, 2025. Passage Bio\u2019s common stock will begin trading on a post-reverse stock split basis on July 14, 2025, under the Company\u2019s existing trading symbol \u201cPASG\u201d with a new CUSIP number of 702712 209. The reverse stock split is intended to regain compliance with Nasdaq\u2019s minimum bid … <\/p>\n

Continue reading “Passage Bio Announces 1-for-20 Reverse Stock Split”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-868226","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPassage Bio Announces 1-for-20 Reverse Stock Split - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/passage-bio-announces-1-for-20-reverse-stock-split\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Passage Bio Announces 1-for-20 Reverse Stock Split - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PHILADELPHIA, July 10, 2025 (GLOBE NEWSWIRE) — Passage Bio, Inc. (\u201cPassage Bio\u201d or the \u201cCompany\u201d) (NASDAQ: PASG), a clinical-stage genetic medicines company focused on improving the lives of patients with neurodegenerative diseases, today announced that its Board of Directors (\u201cBoard\u201d) has approved a reverse stock split of the company\u2019s outstanding shares of common stock at a ratio of 1-for-20. The reverse stock split will become effective at 12:01 a.m. Eastern time on July 14, 2025. Passage Bio\u2019s common stock will begin trading on a post-reverse stock split basis on July 14, 2025, under the Company\u2019s existing trading symbol \u201cPASG\u201d with a new CUSIP number of 702712 209. 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