Jade Biosciences Reports First Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - Jade Biosciences successfully completed a reverse merger and began trading on Nasdaq under the ticker symbol JBIO, raising approximately $300 million to date, which provides a cash runway through 2027 [1][2][3] Corporate Updates - The company has transitioned to a clinical-stage entity, with its lead candidate JADE101 expected to enter first-in-human studies in the second half of 2025 [2][4] - JADE101 is an investigational anti-APRIL monoclonal antibody aimed at treating IgA nephropathy (IgAN), a chronic autoimmune kidney disease [7][8] Pipeline Developments - JADE101's first-in-human clinical trial is anticipated to begin in the second half of 2025, with interim biomarker-rich data expected in the first half of 2026 [4][6] - A second development candidate, JADE201, has been nominated from the JADE-002 antibody discovery program [5] Financial Performance - As of March 31, 2025, the company had cash and cash equivalents of $49.9 million, with a net cash used in operating activities of $18.8 million for the first quarter of 2025 [6][10] - Research and Development (R&D) expenses totaled $20.0 million for the first quarter of 2025, including $10.0 million specifically for the development of JADE101 [6][10] - The net loss for the first quarter of 2025 was $38.2 million, which includes non-cash stock-based compensation of $2.4 million [10][13]