Jade Biosciences (NasdaqCM:JBIO) FY Conference Transcript

Summary of Jade Biosciences FY Conference Call Company Overview - Company: Jade Biosciences (NasdaqCM:JBIO) - Focus: Development of best-in-class therapeutics for autoimmune diseases, leveraging high-affinity binding monoclonal antibodies and half-life extension technology [2][3] Core Programs 1. JADE101 - Target: Anti-APRIL for IgA nephropathy - Current Status: Phase I trial with healthy volunteers, results expected in the first half of 2026 [4][5] - Market Opportunity: Estimated at $10 billion in the U.S., potentially conservative due to recent approvals in the sector [9][10] - Mechanism: Designed to provide complete inhibition of APRIL, with a dosing interval of one subcutaneous injection every 8 weeks [12][18] - Patient Population: Approximately 170,000 diagnosed in the U.S., with 60%-75% eligible for treatment [13][15] - Clinical Activity: Expected to show significant reductions in proteinuria and stabilize kidney function [11][19] 2. JADE201 - Target: Anti-BAFF-R, following the lead of Novartis' Ianalumab - Current Status: First-in-human trial planned for Q2 2026, with data expected in 2027 [6][30] - Mechanism: Aims for deeper B-cell depletion and prevention of B-cell repopulation, potentially overcoming limitations of existing therapies [27][28] 3. JADE301 - Status: Target undisclosed for competitive reasons, expected to enter the clinic in the first half of 2027 [6][7] Financial Position - Cash Position: Closed 2025 with $336 million, sufficient to fund operations into the first half of 2028 [8] Market Dynamics - IgA Nephropathy: Increasing focus on the disease with new approvals, highlighting the need for effective treatments [4][10] - KDIGO Guidelines: New guidelines emphasize the need for efficacious medications targeting proteinuria levels below 0.5 grams per day [15][16] Competitive Landscape - JADE101 vs. Sibeprenlimab: JADE101 is over 750-fold more potent than sibeprenlimab, with a longer half-life and fewer injections required [11][23][24] - Clinical Evidence: Previous studies indicate that selective anti-APRIL agents show significant efficacy in reducing proteinuria, supporting the potential for JADE101 to capture market share [20][21] Conclusion - Outlook: Jade Biosciences is positioned for significant growth with multiple clinical programs advancing, particularly in the IgA nephropathy space, and is on track to deliver important data in the near future [33]