Passage Bio announces 1-for-20 reverse stock split effective July 14

Passage Bio Inc. (NASDAQ: PASG) announced that its board of directors approved a 1-for-20 reverse stock split of the company's outstanding common stock shares. The reverse stock split will become effective at 12:01 a.m. Eastern time on July 14, 2025.

The clinical-stage genetic medicines company's common stock will begin trading on a post-reverse stock split basis on July 14, 2025, under the existing trading symbol "PASG" with a new CUSIP number of 702712 209. The reverse stock split is intended to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share.

Passage Bio's stockholders approved the reverse stock split at the company's 2025 annual meeting held on May 28, 2025. The reverse stock split reduces the number of outstanding common stock shares from approximately 62,405,898 shares to approximately 3,120,295 shares.

As a result of the reverse stock split, proportionate adjustments will be made to the exercise prices and number of shares underlying the company's outstanding equity awards for common stock. The number of shares issuable under the company's equity incentive and inducement plans, and employee stock purchase plan will also be adjusted. The number of authorized shares and the par value per share will remain unchanged.

Computershare Trust Company, N.A., will serve as the exchange agent for the reverse stock split. Registered stockholders holding pre-split shares electronically in book-entry form are not required to take any action to receive post-split shares. Stockholders who hold their shares in brokerage accounts will have their positions automatically adjusted to reflect the reverse stock split.

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 rounded up to the nearest whole share.

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