PRVL - IPO Update: Passage Bio Finalizes $126 Million IPO Plan
Quick Take
Passage Bio (PASG) intends to raise $126 million in an IPO of its common stock, per an amended registration statement.
The company is advancing a pipeline of genetic treatment candidates for monogenic (single gene pair) central nervous system [CNS] conditions.
PASG has yet to enter Phase 1 trials and the IPO is pricey, so it may be more suited to institutional investors with long-term hold time frames.
Company & Technology
Philadelphia-based Passage was founded to advance genetic treatments involving a single gene for rare central nervous system disorders.
Management is