{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-119856","form_type":"8-K","ticker":"JBIO","cik":"0001798749","company_name":"Jade Biosciences, Inc.","filed_at":"2025-05-14T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.758404+00:00","generated_at":"2026-05-21T09:47:03.595072+00:00","sec_items":["2.01","2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Jade Biosciences Q1 2025 net loss $38.2M, cash $49.9M, merger closed Apr 28","bullets":["Net loss of $38.2M for Q1 2025; R&D expenses $20.0M, G&A $3.4M; change in fair value of convertible notes added $15.4M to other expense.","Cash and equivalents $49.9M as of March 31, 2025, down from $69.4M at Dec 31, 2024; expects existing cash plus $334.2M from Pre-Closing Financing to fund operations for at least 12 months.","Merger with Aerovate Therapeutics completed on April 28, 2025; combined entity renamed Jade Biosciences, Inc., trades on Nasdaq as JBIO.","Lead candidate JADE-101 (APRIL-targeting antibody) for IgA nephropathy; two preclinical programs JADE-002 and JADE-003 in antibody discovery.","Company had $123M in convertible notes payable (including $26M related party) and $2M warrant liability as of March 31, 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-119856","json":"https://secwatch.observer/filing/0001193125-25-119856.json","markdown":"https://secwatch.observer/filing/0001193125-25-119856.md","text":"https://secwatch.observer/filing/0001193125-25-119856.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1798749/000119312525119856/0001193125-25-119856-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1798749/000119312525119856/d72148d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-21T09:47:03.595072+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}