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

Core Insights - Jade Biosciences, Inc. reported significant advancements in its mission to develop best-in-class therapies for autoimmune diseases, highlighted by the presentation of preclinical data for its lead candidate, JADE101, and the introduction of a new candidate, JADE201 [2][4][10] Pipeline and Corporate Updates - JADE101 is a selective anti-APRIL monoclonal antibody targeting IgA nephropathy (IgAN), with favorable preclinical safety data presented at ASN Kidney Week 2025 [4][5] - The Phase 1 healthy volunteer study for JADE101 has been initiated, with interim biomarker data expected in the first half of 2026 to inform dosing strategies for patient trials [4][5] - JADE201, a half-life extended anti-BAFF-R monoclonal antibody, was introduced, with a first-in-human trial in rheumatoid arthritis anticipated to start in the first half of 2026 [4][10] - The company completed a $135 million private financing round, extending its cash runway into the first half of 2028 [2][7][11] Financial Results - As of September 30, 2025, Jade had cash, cash equivalents, and investments totaling $198.9 million, which increased to approximately $325.6 million post-financing [11] - Research and Development (R&D) expenses for Q3 2025 were $22.0 million, up from $13.6 million in Q3 2024, primarily due to increased personnel and clinical activity costs [11] - General and Administrative (G&A) expenses rose to $5.4 million in Q3 2025 from $1.4 million in Q3 2024, reflecting higher personnel-related costs [11] - The net loss for Q3 2025 was $25.2 million, compared to a net loss of $16.3 million in Q3 2024, driven by increased R&D and G&A expenses [11][17]