Analysts project a 125% surge in Passage Bio shares over 12 months despite a 50% year-to-date decline.
Passage Bio Inc (NASDAQ:PASG) has engaged Wedbush PacGrow as a financial advisor to explore strategic alternatives aimed at maximizing shareholder value. The move follows a 50% drop in its stock year-to-date, though analysts forecast a 125% increase over the next 12 months.
The company’s lead candidate, PBFT02, targets frontotemporal dementia and showed potential in slowing disease progression in a Phase 1/2 trial. However, the FDA indicated a need for a randomized controlled trial for approval, prompting Passage Bio to reassess its strategy amid financial and logistical challenges.
Passage Bio focuses on gene therapies for central nervous system disorders, with programs addressing rare and devastating diseases.