Passage Bio is a genetic medicines company focused on developing treatments for patients with neurodegenerative diseases. The company aims to deliver genetic medicines that will permanently redefine the course of these conditions.

Passage Bio

Chardan NexTech Acquisition 2 Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses. It intends to focus on businesses in the financial services, healthcare, real estate services, technology, and software industries. The company was incorporated in 2020 and is headquartered in New York, New York.

Chardan NexTech Acquisition 2 Corp.

Corbus Pharmaceuticals Holdings, Inc., a biopharmaceutical company, focuses on the development of immune modulators for immuno-oncology and fibrosis diseases. It develops lenabasum, an oral molecule that selectively activates cannabinoid receptor type 2 (CB2), which is in Phase II clinical trial to treat systemic lupus erythematosus; CRB-601, an anti-integrin monoclonal antibody (mAb) for the treatment of cancer and fibrosis that inhibits the activation of transforming growth factor ß (TGFß); and CRB-602, an anti-avß6/avß8 mAb that blocks the activation of TGFß for the treatment of fibrotic diseases. The company is also developing cannabinoid receptor type 1 inverse agonist program for the treatment of metabolic disorders, such as obesity, diabetic nephropathy, diabetic retinopathy, and nonalcoholic steatohepatitis; fibrotic diseases, including lung, cardiac, renal disease, and liver fibrosis; and other diseases comprising ascites, cognitive defects, Prader-Willi syndrome, and smoking cessation. It has a licensing agreement with Jenrin Discovery, LLC to develop and commercialize the licensed products, including the Jenrin library of approximately 600 compounds, and multiple issued and pending patent filings. The company was incorporated in 2009 and is based in Norwood, Massachusetts.

Corbus Pharmaceuticals Holdings, Inc.

We are a clinical stage genetic medicines company on a mission to improve the lives of patients with neurodegenerative diseases. Our primary focus is the development and advancement of cutting-edge, one-time therapies designed to target the underlying pathology of these conditions. 

Our lead product candidate, PBFT02, seeks to treat neurodegenerative conditions, including frontotemporal dementia, by elevating progranulin levels to restore lysosomal function and slow disease progression. Our team's unwavering commitment to excellence is the driving force behind our mission to protect patients and their families against loss in neurodegenerative conditions.

Versant Ventures

New Leaf Venture Partners

Boxer Capital

OrbiMed

Lilly Asia Ventures

Logos Capital

Sphera Funds Management

Access Biotechnology

Frazier Healthcare Partners

Highline Capital Management

Len Blavatnik

We are pleased to announce the out-licensing of our pediatric lysosomal storage disease programs to Gemma Biotherapeutics, a new company founded by James M. Wilson, M.D., Ph.D., that is committed to advancing promising gene therapies for children with #GM1, #Krabbe, and #MLD. This strategic move extends our cash runway, enabling us to continue our vital work in adult neurodegenerative diseases.

Additionally, Passage Bio will launch a new research partnership with Gemma Biotherapeutics that will leverage our combined expertise to explore new frontiers in CNS research. Read more here: https://loom.ly/EC6p40I

Did you know progranulin is vital for brain cell health, and increasing its levels could benefit patients with both FTD-C9orf72 and FTD-GRN? Thanks to positive FDA feedback, we are expanding our upliFT-D trial to include individuals with C9orf72 gene mutations, marking a major milestone in treatment access. Learn more about this exciting news here: https://loom.ly/qMRn2rw

ICYMI: @Biotech TV recently joined us at our Philadelphia HQ to discuss our groundbreaking work in treating #FTD. Watch the full video to learn about what's on the horizon for Passage Bio here: https://loom.ly/4KgAgjc

This morning, we announced our second quarter 2024 #financialresults and recent #business highlights. It has been a pivotal quarter for Passage Bio, marked by significant momentum in our upliFT-D trial, increased clarity around our strategy to expand PBFT02 into additional adult neurodegenerative indications, and out-licensing of our pediatric lysosomal storage disorder programs.

Learn more about our latest achievements and upcoming milestones here: https://loom.ly/HxgqpDQ

Passage Bio will be participating in the Canaccord Genuity 44th Annual Growth Conference in Boston on August 13 and the 15th Annual Wedbush PacGrow Healthcare Conference in New York City on August 14. Our leadership team is eager to present our latest corporate updates and upcoming milestones. Discover more about our presence and what to expect here: https://loom.ly/NQfz__U

Did you know that Progranulin (PGRN) could unlock breakthroughs in the treatment of neurodegenerative diseases? At Passage Bio, we are exploring the therapeutic potential of elevating PGRN levels in the central nervous system to alter the course of neurodegenerative diseases. Discover more here: https://loom.ly/GtdTEMQ

If you or a loved one has #FTD, genetic counseling and testing are essential. It can pinpoint if a mutation caused your FTD, provide insights into your symptoms, and identify clinical trial eligibility, such as the upliFT-D trial for FTD-GRN. InformedDNA offers free genetic testing and counseling for US residents. Learn more here: https://loom.ly/hm5g0lc

We are thrilled to share that Passage Bio has received positive feedback from the FDA on expanding our upliFT-D trial of PBFT02 to include patients with frontotemporal dementia (#FTD) due to C9orf72 gene mutations. This expansion is a significant milestone in our mission to improve the lives of patients with neurodegenerative diseases. Read more here: https://lnkd.in/eQpgQsVD

It was an honor to have BiotechTV come visit our Philadelphia headquarters and discuss exciting milestones on the horizon for Passage!

Check out our recent podcast appearance! Our CEO Will Chou, MD, recently joined the Life Science Success Podcast to share updates from our ongoing clinical study for #FTD, the urgency of developing treatments for genetic mutations, and the potential impact on patients and their families. 

Tune in for insights here: https://loom.ly/XCh2t9E #LifeScienceSuccess

Metric
Company Name	Passage Bio	Chardan NexTech Acquisition 2 Corp.	Corbus Pharmaceuticals Holdings, Inc.
Symbol		CNTQ	CRBP
MSH ID	COM:PASSAGEBIO	COM:CHARDAN	COM:CORBUSPHARMA
Market	PRIVATE	STOCKS	STOCKS
Sector	Healthcare & Health Services	Financial Services	Healthcare
Industry	Biotechnology	Shell Companies	Biotechnology
Country	US	US	US
Stage			Post-IPO Equity
Employee Count			19
Website	passagebio.com	chardan.com	corbuspharma.com
LinkedIn	passage-bio
Founders

Metric
Market Cap	605.82M	550.26M
Enterprise Value
Monthly Web Traffic	2.99K	4.09K
Web Traffic Growth	10.82	-0.53
Valuation
Raised Capital		94.50M

Metric
Revenue		64.39M
Revenue (LTM)
Revenue (NTM)
Gross Profit		15.45M
EBITDA		-26.19M
Operating Income		-27.43M
Net Income		-13.82M
EPS		-0.26
Diluted EPS		-0.26
Revenue 2022
Revenue 2023
Revenue 2024
Revenue 2025
Revenue 2026

Metric
Revenue Growth (LTM)
Revenue Growth (NTM)
Gross Profit Growth (LTM)
EBITDA Growth (LTM)
Net Income Growth (LTM)
14-Day Growth Score
28-Day Growth Score
90-Day Growth Score
365-Day Growth Score

Metric
Gross Profit Margin		0.25
Operating Profit Margin		-0.40
EBITDA Margin		-0.41
Net Profit Margin		-0.05
Return on Equity		-0.10
Return on Assets		-0.04
Return on Capital Employed		-0.52

COM:PASSAGEBIO

Passage Bio

Company Overview

Market Metrics

Financial Performance

Growth Metrics

Profitability Ratios

Valuation Multiples

Operational Metrics

Cash Flow Metrics

Balance Sheet Metrics

Efficiency Metrics

Metric
P/E Ratio		-7.90
P/B Ratio
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio		1.29
EV Multiple		0.71

Metric
Days Sales Outstanding
Days Payables Outstanding
Days Inventory Outstanding		289.18
Operating Cycle		298.47
Cash Conversion Cycle		228.89
Asset Turnover		0.90

Metric
Operating Cash Flow		-17.71M
Free Cash Flow		-24.59M
Cash Flow to Debt		-0.32
Operating Cash Flow/Sales		-0.27
Free Cash Flow Yield		0.03

Metric
Cash & Equivalents		12.71M
Accounts Receivable		-309K
Inventory		38.78M
Goodwill
Debt to Capitalization		0.90
Debt to Assets
Current Ratio
Quick Ratio		0.43

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue
R&D to Revenue		0.03
SG&A to Revenue		0.49