secwatch.observer — SEC 8-K summary
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Issuer:     Jade Biosciences, Inc. (JBIO)
CIK:        0001798749
Form:       8-K
Filed at:   2025-11-14T23:59:59+00:00
Accession:  0001193125-25-281498
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Jade Biosciences Q3 net loss $25.2M; cash runway into H1 2028 after $135M placement
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- Q3 2025 net loss of $25.2M vs $16.3M loss in Q3 2024; R&D expenses $22.0M, G&A $5.4M.
- Cash, equivalents, and investments $198.9M at Sep 30; pro-forma ~$325.6M after $135M private placement closed in October.
- Phase 1 trial of JADE101 (anti-APRIL for IgAN) enrolled; interim biomarker data expected H1 2026.
- Unveiled JADE201 (anti-BAFF-R); first-in-human trial in rheumatoid arthritis planned for H1 2026.
- Private placement of $135M extended cash runway into first half of 2028.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1798749/000119312525281498/0001193125-25-281498-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1798749/000119312525281498/d26766d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-281498

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer