Passage Bio announces 1-for-20 reverse stock split

Passage Bio (PASG) has approved a reverse stock split of the company’s 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. Passage Bio’s common stock will begin trading on a post-reverse stock split basis on July 14, under the company’s 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. The reverse stock split was approved by Passage Bio’s stockholders, at the company’s 2025 annual meeting of stockholders held on May 28. The reverse stock split reduces the number of shares of the company’s 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’s common stock underlying the outstanding equity awards for common stock, as well as the number of shares issuable under the company’s 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.