Jade Biosciences Q3 net loss widens less than expected
JBIO•Jade Biosciences reported a third-quarter net loss of $35.1 million, below the $50.52 million analyst consensus. It ended the quarter with $475.7 million in cash and investments and expects runway into Q4 2028.
1. Quarterly results
Jade Biosciences’ third-quarter net loss widened, but was less than analysts expected. The company reported a $35.1 million loss, compared with the $50.52 million consensus estimate from 10 analysts.
2. Expenses and outlook
Research and development expenses increased due to higher chemistry, manufacturing, controls, clinical activity and personnel-related costs, including stock-based compensation. General and administrative expenses also rose, partly due to higher personnel costs and stock-based compensation. Jade Biosciences ended the quarter with $475.7 million in cash and investments and expects that to fund operations into Q4 2028.
3. Trial plans
The company expects to initiate its Phase 3 EVERGREEN trial in IgA nephropathy in Q4 2026. Interim data from its Phase 2 JUNIPER trial in IgA nephropathy are expected in Q2 2027.
