Aerovate reports Q1 2024 net loss $23.2M; cash $99.3M; Phase 2b topline data expected June 2024

Jade Biosciences, Inc.

2024-Q1 EPS reported -$0.83

Net loss of $23.2M for Q1 2024 vs $16.5M in Q1 2023; R&D expenses $20.1M, G&A $4.5M.
Cash, equivalents and short-term investments $99.3M at March 31, 2024; raised net $23.6M via ATM in April.
Topline data from Phase 2b portion of IMPAHCT trial of AV-101 in PAH expected in June 2024.
Enrollment continues in Phase 3 portion of IMPAHCT; over 120 sites in 20+ countries.
Cash runway into 2026 based on current operating plan.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Jade Biosciences, Inc. reported quarter ended March 31, 2024 results: net income Net loss for the quarter ended March 31, 2024 was $23.2 million as compared to $16.5 million for the quarter ended March.

Period: quarter ended March 31, 2024
Net income: Net loss for the quarter ended March 31, 2024 was $23.2 million as compared to $16.5 million for the quarter ended March
Result: reported results

Exact text from the filing

Net loss for the quarter ended March 31, 2024 was $23.2 million as compared to $16.5 million for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001798749-24-000029

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