Jade Biosciences, Inc.
9.49-0.30 (-3.06%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · JBIO · USD
Key Stats
Market Cap
436.49MP/E (TTM)
-Basic EPS (TTM)
-Dividend Yield
0%Recent Filings
8-K
Jade's $135M raise funds BAFF-R push
Jade Biosciences secured a $135 million private placement on October 6, 2025, issuing 13.4 million common shares at $9.14 each and pre-funded warrants for 1.4 million shares, closing October 8 to fund R&D into H1 2028. Yet the real kicker: a BAFF-R license from Paragon on October 3 grants exclusive rights to JADE201, an afucosylated antibody for deeper B-cell depletion in autoimmune diseases. First-in-human RA trial starts H1 2026. Cash bolsters pipeline risks.
8-K
CMO departs with severance
Jade Biosciences' Chief Medical Officer, Hetal Kocinsky, M.D., departed effective September 9, 2025, with the company planning a separation agreement offering 12 months' base salary and COBRA premium coverage. Scientific and clinical programs proceed under Dr. Andrew King, Ph.D., as Chief Scientific Officer. Leadership continuity holds firm. The pending agreement details remain undisclosed.
8-K
Q2 loss, strong cash position
Jade Biosciences reported a Q2 2025 net loss of $32.1 million, with R&D expenses at $22.5 million and G&A at $5.2 million, while holding $220.9 million in cash to fund operations through 2027. The company presented compelling preclinical data for JADE101, an anti-APRIL antibody targeting IgA nephropathy, at the European Renal Association Congress, showcasing ultra-high affinity and extended half-life. Phase 1 trials start Q3 2025. Cash runway extends to key milestones.
10-Q
Q2 FY2025 results
Jade Biosciences reported a Q2 net loss of $32.1M, up sharply from $0.6M in the prior-year stub period, driven by $22.5M in R&D expenses for its JADE-001, -002, and -003 programs and $5.2M in G&A, while interest income of $1.8M partially offset a $6.2M fair-value loss on convertible notes. The six-month net loss widened to $70.3M from $0.6M, with operating expenses surging to $51.2M amid pipeline advancement, including $42.6M in R&D; net loss exceeded operating loss by over 20% due to the notes' fair-value change. Cash swelled to $220.9M from $69.4M at year-end, fueled by $205M in pre-closing financing and $129.2M notes conversion tied to the April 2025 reverse recapitalization with Aerovate, which recognized no goodwill or intangibles. Free cash flow stood at $(39.1M) derived from operating cash use of $(38.9M) less $0.1M capex. Pipeline progress continues, but clinical trial delays pose a key risk from Risk Factors.
8-K
CFO appointment strengthens biotech finance
Jade Biosciences appointed Bradford Dahms as CFO effective July 14, 2025, bringing his 15 years of biotech finance expertise from roles at IDRx, Theseus Pharmaceuticals, and Selecta Biosciences, where he steered financings and acquisitions. The move bolsters financial leadership amid Nasdaq listing and private funding momentum, supporting JADE101's clinical trial launch in late 2025 for IgA nephropathy. Dahms' $500,000 base salary and 526,000-share option underscore commitment. Yet risks loom if trials falter.
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