Aerovate Therapeutics reports Q3 2023 net loss of $19.6M; Phase 2b/3 trial on track for Q2 2024 data

Jade Biosciences, Inc.

2023-Q3 EPS reported -$2.13

Net loss of $19.6M for Q3 2023, compared to $13.6M in Q3 2022; includes $3.2M stock-based compensation.
R&D expenses rose to $16.9M from $10.8M YoY, driven by higher clinical trial and headcount costs.
Cash, equivalents and securities totaled $135.2M at September 30, 2023, sufficient to fund operations into 2026.
IMPAHCT Phase 2b/3 trial of AV-101 for PAH expects topline Phase 2b data in Q2 2024; over 125 sites active globally.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Jade Biosciences, Inc. reported the quarter ended September 30, 2023 results: net income $19.6 million.

Period: the quarter ended September 30, 2023
Net income: $19.6 million
Result: reported results

Exact text from the filing

Aerovate Therapeutics, Inc. announced its third quarter financial results and business highlights for the period ended September 30, 2023.

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Source: SEC EDGAR

accession 0001798749-23-000059

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