---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-232562"
form_type: "8-K"
ticker: "JBIO"
cik: "0001798749"
company_name: "Jade Biosciences, Inc."
filed_at: "2025-10-07T23:59:59+00:00"
generated_at: "2026-05-17T04:28:32.669593+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Jade Biosciences raises $135M in PIPE; unveils BAFF-R candidate JADE201

## Summary
- Private placement raises ~$135M gross via 13.37M shares at $9.14 and pre-funded warrants; close expected Oct 8, 2025.
- Pro forma shares outstanding ~67.4M; cash runway extended into first half 2028.
- Licenses BAFF-R antibodies from Paragon Therapeutics; up to $22M in milestones plus low-to-mid-single-digit royalties.
- JADE201 is a half-life extended afucosylated anti-BAFF-R mAb; Phase 1 in rheumatoid arthritis expected H1 2026.
- NHP data shows ~2-fold half-life increase vs ianalumab and sustained B-cell depletion after single SC dose.

## SEC filing metadata
- accession: 0001193125-25-232562
- form_type: 8-K
- ticker: JBIO
- cik: 0001798749
- company_name: Jade Biosciences, Inc.
- filed_at: 2025-10-07T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1798749/000119312525232562/0001193125-25-232562-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1798749/000119312525232562/d58004d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-232562
- JSON: https://secwatch.observer/filing/0001193125-25-232562.json
- Plain text: https://secwatch.observer/filing/0001193125-25-232562.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.