Jade Biosciences reports $336M cash; JADE101 Phase 1 data expected Q2 2026

Jade Biosciences, Inc.

Cash, equivalents, and investments of $336.2M as of Dec 31, 2025; runway into first half 2028.
Q4 2025 net loss $31.9M vs $30.1M Q4 2024; full year net loss $127.4M.
JADE101 Phase 1 interim data expected Q2 2026; Phase 2 IgA nephropathy trial to start mid-2026.
JADE201 (anti-BAFF-R) Phase 1 in rheumatoid arthritis expected Q2 2026; interim data 2027.
Raised ~$180M in Q4 2025 private placements from new and existing investors.

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