BRIEF-Passage Bio Inc On Jan 8, Board Approved, And Management Began Implementing, Restructuring Plan

Reuters

Jan 10, 2025

Jan 10 (Reuters) - Passage Bio Inc :

* PASSAGE BIO INC: ON JAN 8, BOARD APPROVED, AND MANAGEMENT BEGAN IMPLEMENTING, RESTRUCTURING PLAN

* PASSAGE BIO INC: TO CEASE ITS LAB OPERATIONS AT ITS APPROXIMATELY 62,000 FEET OF LEASED LABORATORY SPACE IN HOPEWELL, NEW JERSEY

* PASSAGE BIO : TO REDUCE OPERATING COSTS AND BETTER ALIGN ITS WORKFORCE WITH NEEDS OF ITS STRATEGIC RESEARCH AND DEVELOPMENT STRATEGY

* PASSAGE BIO INC: UNDER RESTRUCTURING PLAN, COMPANY IS REDUCING ITS OVERALL WORKFORCE BY ABOUT 55%

* PASSAGE BIO INC: EXPECTS RESTRUCTURING PLAN WILL DECREASE ITS ANNUAL OPERATING COSTS BY ABOUT $9.0 MILLION TO $11.0 MILLION

* PASSAGE BIO INC: PURSUING OPPORTUNITIES TO SUBLEASE SPACE AT LABORATORY LEASE TO OFFSET PORTIONS OF ITS FINANCIAL OBLIGATIONS

Source text: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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Plan\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-01-10 20:29</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>Jan 10 (Reuters) - Passage Bio Inc   :</p><p>   * PASSAGE BIO INC: ON JAN 8, BOARD APPROVED, AND MANAGEMENT BEGAN IMPLEMENTING, RESTRUCTURING PLAN</p><p>   * PASSAGE BIO INC: TO  CEASE ITS LAB OPERATIONS AT ITS APPROXIMATELY 62,000 FEET OF LEASED LABORATORY SPACE IN HOPEWELL, NEW JERSEY</p><p>   * PASSAGE BIO : TO REDUCE OPERATING COSTS AND BETTER ALIGN ITS WORKFORCE WITH NEEDS OF ITS STRATEGIC RESEARCH AND DEVELOPMENT STRATEGY</p><p>   * PASSAGE BIO INC: UNDER RESTRUCTURING PLAN, COMPANY IS REDUCING ITS OVERALL WORKFORCE BY ABOUT 55%</p><p>   * PASSAGE BIO INC: EXPECTS RESTRUCTURING PLAN WILL DECREASE ITS ANNUAL OPERATING COSTS BY ABOUT $9.0 MILLION TO $11.0 MILLION</p><p>   * PASSAGE BIO INC: PURSUING OPPORTUNITIES TO SUBLEASE SPACE AT LABORATORY LEASE TO OFFSET PORTIONS OF ITS FINANCIAL OBLIGATIONS</p><p>Source text:    Further company coverage:   </p><p> ((Reuters.Briefs@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2502571108","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2502571108","pubTimestamp":1736512154,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技","PASG":"Passage Bio, Inc."},"translate_title":"BRIEF-Passage Bio Inc于1月8日获得董事会批准，管理层开始实施重组计划","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PASG":0.9},"content_text":"Jan 10 (Reuters) - Passage Bio Inc   :   * PASSAGE BIO INC: ON JAN 8, BOARD APPROVED, AND MANAGEMENT BEGAN IMPLEMENTING, RESTRUCTURING PLAN   * PASSAGE BIO INC: TO  CEASE ITS LAB OPERATIONS AT ITS APPROXIMATELY 62,000 FEET OF LEASED LABORATORY SPACE IN HOPEWELL, NEW JERSEY   * PASSAGE BIO : TO REDUCE OPERATING COSTS AND BETTER ALIGN ITS WORKFORCE WITH NEEDS OF ITS STRATEGIC RESEARCH AND DEVELOPMENT STRATEGY   * PASSAGE BIO INC: UNDER RESTRUCTURING PLAN, COMPANY IS REDUCING ITS OVERALL WORKFORCE BY ABOUT 55%   * PASSAGE BIO INC: EXPECTS RESTRUCTURING PLAN WILL DECREASE ITS ANNUAL OPERATING COSTS BY ABOUT $9.0 MILLION TO $11.0 MILLION   * PASSAGE BIO INC: PURSUING OPPORTUNITIES TO SUBLEASE SPACE AT LABORATORY LEASE TO OFFSET PORTIONS OF ITS FINANCIAL OBLIGATIONSSource text:    Further company coverage:    ((Reuters.Briefs@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}