Aerovate Therapeutics reports Q2 net loss of $12.0M; cash runway into H2 2025

Jade Biosciences, Inc.

2023-Q2 EPS reported -$0.94

Net loss $12.0M in Q2 2022 vs $5.8M in Q2 2021; R&D expenses $8.4M, G&A $3.9M.
Cash and investments $152.0M as of June 30, 2022; expected to fund operations into H2 2025.
IMPAHCT Phase 2b/Phase 3 trial ongoing; topline Phase 2b data expected Q4 2023 or Q1 2024.
Phase 1 data for AV-101 showed well-tolerated and reduced systemic exposure vs oral imatinib.
Strengthened management: Stephen Yu joined as SVP Quality with 20+ years pharma experience.

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