Passage Bio Said On July 19, Announced Organizational Redesign To Further Extend Its Cash Runway; Said Simona King To Resign As CFO, Kathleen Borthwick Named Interim CFO
Portfolio Pulse from Charles Gross
Passage Bio announced an organizational redesign to extend its cash runway. Simona King will resign as CFO, with Kathleen Borthwick stepping in as interim CFO.
July 20, 2023 | 11:09 am
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Passage Bio's CFO Simona King is resigning, with Kathleen Borthwick named as interim CFO. The company is also undergoing an organizational redesign to extend its cash runway.
The resignation of a CFO can often lead to uncertainty and instability in a company, potentially negatively impacting the stock price in the short term. Additionally, the organizational redesign indicates that the company may be facing cash flow issues, which could also negatively impact the stock price.
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IMPORTANCE 80
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