Passage Bio (PASG) Balance Sheet: Assets & Liabilities

Passage Bio (PASG) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Passage Bio reported total assets of $62.28M and total liabilities of $43.53M. Shareholders' equity was $18.75M, down 69.4% from $61.26M a year earlier. Total debt stood at $24.01M against $46.30M in cash and short-term investments, a net cash position of $22.29M. That puts debt-to-equity at 1.28, compared with 0.42 a year earlier.

Passage Bio Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Passage Bio, Inc. (PASG) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Current Assets
Cash and Cash Equivalents	46.30	37.57	21.71	34.60	128.97	135.00	158.87	24.86
Short-Term Investments	0.00	39.18	92.59	155.01	186.81	169.82	0.00	0.00
Cash & Short-Term Investments	46.30	76.76	114.29	189.61	315.77	304.82	158.87	24.86
Accounts Receivable	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	1.46	0.84	3.67	7.43	1.73	1.41	6.90	8.54
Total Current Assets	47.76	78.82	117.96	197.04	325.07	317.18	165.78	33.40
Non-Current Assets
Property, Plant & Equipment (Net)	14.28	23.13	32.15	42.24	23.81	2.80	1.09	0.03
Other Non-Current Assets	0.24	0.46	0.43	4.27	6.20	8.03	11.75	0.03
Total Non-Current Assets	14.52	23.60	32.59	46.51	30.01	8.03	12.84	0.06
Total Assets	62.28	102.41	150.55	243.55	355.08	328.01	178.61	33.46
Current Liabilities
Accounts Payable	1.11	0.74	1.30	4.07	9.45	5.27	0.63	0.21
Short-Term Debt	3.57	3.69	6.75	3.28	0.00	0.00	0.00	0.00
Accrued Liabilities	4.65	2.30	11.67	11.01	10.04	15.37	-	-
Deferred Revenue	13.75	8.23	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Liabilities	4.65	8.23	8.30	0.09	0.66	0.54	3.05	0.10
Total Current Liabilities	23.08	19.36	16.34	18.35	29.50	21.18	3.68	0.31
Non-Current Liabilities
Long-Term Debt	20.44	21.79	22.92	23.83	0.00	0.00	0.00	0.00
Other Non-Current Liabilities	0.00	0.00	0.00	0.00	6.92	2.12	0.58	45.33
Total Non-Current Liabilities	20.44	21.79	22.92	23.83	6.92	2.12	0.58	45.33
Total Liabilities	43.53	41.15	39.26	42.18	36.42	23.29	4.26	45.63
Stockholders' Equity
Common Stock	0.00	0.01	0.01	0.01	0.01	0.00	0.00	0.00
Retained Earnings	-704.76	-659.24	-594.47	-492.41	-356.28	-170.90	-58.66	-13.03
Accumulated Other Comprehensive Income	0.00	0.01	-0.04	-0.97	-0.41	-0.01	-0.23	0.00
Additional Paid-in Capital	723.51	720.49	705.79	694.73	675.35	475.62	2.64	0.86
Shares Outstanding	3.18	3.10	2.75	2.73	2.71	-	-	-
Total Stockholders' Equity	18.76	61.26	111.28	201.37	318.66	304.71	174.35	-12.17
Total Liabilities & Equity	62.28	102.41	150.55	243.55	355.08	328.01	178.61	33.46

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Passage Bio Balance Sheet

How much debt does Passage Bio have?

Passage Bio had total debt of $24.01M as of Dec 31, 2025, against $46.30M in cash and short-term investments. Its debt-to-equity ratio was 1.28. Total debt was $25.48M a year earlier.

What are Passage Bio's total assets?

Passage Bio reported total assets of $62.28M as of Dec 31, 2025, down 39.2% from $102.41M a year earlier. Total liabilities were $43.53M.

What is Passage Bio's shareholders' equity?

Passage Bio's shareholders' equity was $18.75M as of Dec 31, 2025, or about $5.89 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition