Passage Bio restructures, cuts workforce about 75% to reduce operating expenses

• Passage Bio announced a workforce restructuring on April 28, 2026 as it reviews strategic alternatives to maximize shareholder value.
• Plan targets a roughly 75% headcount reduction to lower operating expenses.
• Implementation expected to be substantially complete in second and third quarters of 2026.
• Aggregate severance and exit costs expected to total about $3.3 million, primarily recorded in second quarter of 2026.
• Severance benefits require execution of a severance agreement that includes a general release of claims.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Passage Bio Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-049755), on April 28, 2026, and is solely responsible for the information contained therein.