Jade Biosciences, Inc. (Nasdaq: JBIO) reported its financial results for the quarter ended September 30, 2026, and provided an update on its clinical development programs. The company announced that it expects to initiate the Phase 3 registrational trial for its lead candidate, JADE101, in the fourth quarter of 2026. This trial, named EVERGREEN, is intended for patients with IgA nephropathy (IgAN).
In addition to JADE101, Jade Biosciences outlined the status of its other pipeline candidates. The Phase 2 JUNIPER trial of JADE101 in IgAN is ongoing, with interim data expected in the second quarter of 2027. The company also expects to initiate a Phase 1 trial of JADE301, an anti-IFN-β monoclonal antibody for dermatomyositis, in the fourth quarter of 2026, with interim data anticipated in the second half of 2027. Furthermore, the Phase 1 clinical trial of JADE201, an anti-BAFF-R monoclonal antibody for rheumatoid arthritis, is ongoing, with biomarker data expected in 2027.
On the financial front, Jade Biosciences reported cash, cash equivalents, and investments of $475.7 million as of September 30, 2026. The company stated that this cash balance is expected to fund its operating expenses and capital expenditure requirements into the fourth quarter of 2028.
For the third quarter of 2026, the company reported Research and Development (R&D) expenses of $30.8 million and General and Administrative (G&A) expenses of $8.8 million. This resulted in a net loss of $35.1 million for the quarter, compared to a net loss of $25.2 million in the same period of the previous year. The increase in expenses was primarily attributed to higher costs related to chemistry, manufacturing and controls, clinical activity, and personnel-related costs.
Corporate updates included the expansion of Brad Dahms’ role and title to Chief Financial Officer and Chief Business Officer. Mr. Dahms will now oversee business development and corporate strategy in addition to his previous finance and investor relations responsibilities.
