Jade Biosciences Q2 net loss widens as costs rise
JBIO•Program outlook
The company expects interim Phase 2 data for JADE101 in IgA nephropathy in 2027. A Phase 3 JADE101 registrational trial is expected to begin in the first half of 2027.
Jade Biosciences said it expects its cash runway to extend into the fourth quarter of 2028.
Key reported figures
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Net Loss | Miss | $55.80 mln | $42.11 mln (9 Analysts) |
| Q2 Cash & Investments | $461.20 mln |
Quarterly loss widens
Jade Biosciences said its second-quarter net loss widened, missing analyst expectations, as higher research and development and general and administrative expenses weighed on results.
Cost increases and cash position
The company said the higher R&D expenses were due to increased costs for chemistry, manufacturing, controls, clinical activity, milestone payments, and personnel, including stock-based compensation. Higher G&A expenses were attributed to increased personnel-related costs and stock-based compensation.
Cash and investments rose to $461.2 million after a $172.5 million public offering.
