Passage Bio (PASG) IPO Opens 24% Higher

Today's IPO for Passage Bio, Inc. (NASDAQ: PASG) opened for trading at $22.27 after pricing its initial public offering of 12,000,000 shares of common stock at a public offering price of $18 per share.

In addition, Passage Bio has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock at the public offering price, less underwriting discounts and commissions.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Chardan is acting as lead manager for the offering.

Passage Bio is a genetic medicines company focused on developing transformative therapies for rare, monogenic central nervous system diseases with limited or no approved treatment options. The company is based in Philadelphia, PA and has a strategic research collaboration agreement with the University of Pennsylvania and its Gene Therapy Program. The company has a development portfolio of six product candidates, with the option to license six more, with lead programs in GM1 gangliosidosis, frontotemporal dementia and Krabbe disease.

You May Also Be Interested In