JBIO on Nasdaq

Jade Biosciences, Inc.

American pharmaceutical preparations company, incorporated in Delaware.

Price unavailable

Last updated Oct 18, 2026.

Overview

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TickerJBIO on Nasdaq
IndustryPharmaceutical Preparations
HeadquartersDE
Incorporated inDE²
Business address221 Crescent St., Building 23, Suite 105, Waltham, Ma 02453²
Filer category, Emerging growth company²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income³⁴⁵⁶⁷-$113.5M in 2025+1177% since 2020

Net income³⁴⁵⁶⁷-$127.4M in 2025+1226% since 2020

Every line of the income statement as filed: the last 1 fiscal year, latest first.⁷

Period ending	2025-12-31
General and administrative	$20.4M
Total operating expenses	$113.5M
Total operating expenses	-$113.5M
Interest income	$7.8M
Other expense	-$8.0K
Total other expense, net	-$13.8M
Net loss before income tax expense	-$127.4M
Income tax expense	-$58.0K
Net loss	-$127.4M
Currency translation adjustment	-$28.0K
Unrealized gain on investments	$157.0K
Comprehensive loss	-$127.3M
Net loss per share attributable to common stockholders, basic	-$3.19
Net loss per share attributable to common stockholders, diluted	-$3.19
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic	31.4M shares
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted	31.4M shares
Research and development	$93.1M
Change in fair value of Convertible Notes payable	$21.6M

Total assets³⁴⁵⁶⁷$349.8M in 2025+7318% since 2020

Total liabilities³⁴⁵⁶⁷$17.3M in 2025+873% since 2020

Shareholders’ equity³⁴⁵⁶⁷$332.5M in 2025

Cash³⁴⁵⁶⁷$88.4M in 2025+1834% since 2020

Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.⁷

Period ending	2025-12-31	2025-04-30	2024-12-31	2024-06-30
Cash and cash equivalents	$88.4M		$69.4M
Investments	$247.7M		$0
Prepaid expenses and other current assets	$12.7M		$268.0K
Total current assets	$348.8M		$69.7M
Property and equipment, net	$170.0K
Operating lease right-of-use assets	$726.0K
Other assets	$69.0K		$3.1M
Total assets	$349.8M		$72.8M
Accounts payable	$2.2M		$1.3M
Accrued expenses and other current liabilities	$9.4M		$4.1M
Related party accrued expenses and other current liabilities	$5.0M		$5.5M
Warrant liability, related party	$0		$1.1M
Total current liabilities	$16.5M		$12.0M
Convertible Notes payable	$0		$107.6M	$129.2M
Long-term lease liability	$724.0K		$0
Total liabilities	$17.3M		$119.6M
Common stock, $0.0001 par value; 300,000,000 and 40,000,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively; 49,316,287 and 3,672,794 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	$5.0K		$1.0K
Additional paid-in capital	$506.8M		$179.0K
Accumulated other comprehensive gain	$129.0K		$0
Accumulated deficit	-$174.4M		-$47.0M
Total stockholders' equity	$332.5M		-$46.8M	$1.0K
Total liabilities, Series Seed convertible preferred stock and stockholders' equity (deficit)	$349.8M		$72.8M
Common stock, par value	$0.00	$0.00	$0.00
Common stock, shares authorized	300.0M shares		40.0M shares
Common stock, shares issued	49.3M shares		3.7M shares
Common stock, shares outstanding	49.3M shares		3.7M shares

Period ending	2025-12-31	2025-04-30	2024-12-31	2024-06-30
Cash and cash equivalents	$88.4M		$69.4M
Investments	$247.7M		$0
Prepaid expenses and other current assets	$12.7M		$268.0K
Total current assets	$348.8M		$69.7M
Property and equipment, net	$170.0K
Operating lease right-of-use assets	$726.0K
Other assets	$69.0K		$3.1M
Total assets	$349.8M		$72.8M
Accounts payable	$2.2M		$1.3M
Accrued expenses and other current liabilities	$9.4M		$4.1M
Related party accrued expenses and other current liabilities	$5.0M		$5.5M
Warrant liability, related party	$0		$1.1M
Total current liabilities	$16.5M		$12.0M
Convertible Notes payable	$0		$107.6M	$129.2M
Long-term lease liability	$724.0K		$0
Total liabilities	$17.3M		$119.6M
Common stock, $0.0001 par value; 300,000,000 and 40,000,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively; 49,316,287 and 3,672,794 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	$5.0K		$1.0K
Additional paid-in capital	$506.8M		$179.0K
Accumulated other comprehensive gain	$129.0K		$0
Accumulated deficit	-$174.4M		-$47.0M
Total stockholders' equity	$332.5M		-$46.8M	$1.0K
Total liabilities, Series Seed convertible preferred stock and stockholders' equity (deficit)	$349.8M		$72.8M
Common stock, par value	$0.00	$0.00	$0.00
Common stock, shares authorized	300.0M shares		40.0M shares
Common stock, shares issued	49.3M shares		3.7M shares
Common stock, shares outstanding	49.3M shares		3.7M shares

Cash from operations³⁴⁵⁶⁷-$94.7M in 2025+1105% since 2020

Capital spending⁴⁵⁶⁷$196.0K in 2025+8% since 2021

Free cash flow⁴⁵⁶⁷-$94.9M in 2025+244% since 2021

Every line of the cash flow as filed: the last 1 fiscal year, latest first.⁷

Period ending	2025-12-31
Net loss	-$127.4M
Change in fair value of Convertible Notes payable	$21.6M
Stock-based compensation expense	$20.0M
Non-cash lease expense	$83.0K
Accretion/amortization on investments	-$784.0K
Depreciation expense	$26.0K
Prepaid expenses and other current assets	-$12.0M
Other assets	-$38.0K
Accounts payable	$361.0K
Accrued expenses and other current liabilities	$3.9M
Operating lease liabilities	$40.0K
Related party accrued expenses and other current liabilities	-$535.0K
Net cash used in operating activities	-$94.7M
Purchases of investments	-$261.2M
Proceeds from sales/maturities of investments	$14.4M
Payment of security deposit	-$31.0K
Purchases of property and equipment	-$196.0K
Net cash used in investing activities	-$247.0M
Proceeds from the Pre-Closing Financing, net of $14,548 offering costs	$189.1M
Proceeds from stock option exercises	$88.0K
Proceeds from ESPP issuances	$296.0K
Cash acquired in connection with the reverse recapitalization	$156.0K
Net cash provided by financing activities	$360.8M
Effect of exchange rates on cash and cash equivalents	-$21.0K
Net increase in cash and cash equivalents	$19.1M
Unpaid offering costs	$840.0K
Deferred offering costs reclassified from other assets to equity	$3.0M
Operating lease liability arising from obtaining right-of-use asset	$773.0K
Assets acquired in connection with the reverse recapitalization	$416.0K
Other liabilities assumed in connection with the reverse recapitalization	-$1.0M
Reclassification of warrant liability	$11.1M
Convertible note principal and non-cash accrued interest converted to common stock and pre-funded warrants	$129.2M
Non-cash exchange of Pre-Merger Jade Series Seed Convertible Preferred Stock for Company Series A Non-Voting Convertible Preferred Stock	$2.0K

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Leadership

Who has led Jade Biosciences, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

Chief financial officer

Bradford D. Dahms2025–now

2025

Chief executive officerTom Frohlich May 1, 2025 to now¹⁰
Chief executive officerTimothy P. Noyes Jun 29, 2021 to May 17, 2024¹¹
Chief financial officerBradford D. Dahms Jul 14, 2025 to now¹²

Board members and other officers (28)

OfficerAndrew James King May 1, 2025 to now¹³
OfficerElizabeth Bekiroglu May 1, 2025 to now¹⁴
Chief Medical OfficerHetal Kocinsky May 1, 2025 to now¹⁵
OfficerJonathan Quick May 1, 2025 to now¹⁶
Chief Commercial OfficerTimothy Pigot Mar 8, 2023 to Jan 24, 2024¹⁷
Senior Vice President, CMCMarinus Verwijs Mar 23, 2022 to Jun 14, 2024¹⁸
OfficerBenjamin T. Dake Jun 29, 2021 to Aug 2, 2024¹⁹
OfficerGeorge A. Eldridge Jun 29, 2021 to Jun 14, 2024²⁰
Chief Medical OfficerHunter Gillies Jun 29, 2021 to Jun 14, 2024²¹
Chief Development OfficerRalph Niven Jun 29, 2021 to Feb 7, 2024²²
Board memberMark Eisner Jun 26, 2026 to now²³
Board memberChristopher W. Cain May 1, 2025 to now²⁴
Board memberEric Dobmeier May 1, 2025 to now²⁵
Board memberErin Lavelle May 1, 2025 to now²⁶
Board memberLawrence Otto Klein May 1, 2025 to now²⁷
Board memberPeter Evan Harwin May 1, 2025 to now²⁸
Board memberTom Frohlich May 1, 2025 to now¹⁰
Board memberTomas Kiselak May 1, 2025 to now²⁸
Board memberDonald J. Santel Jan 23, 2023 to Jun 7, 2024²⁹
Board memberHabib J. Dable Jul 11, 2023 to Jun 7, 2024³⁰
Board memberDavid S. Grayzel Jun 29, 2021 to Jun 7, 2024³¹
Board memberJoshua Resnick Jun 29, 2021 to Jun 7, 2024³²
Board memberMaha Katabi Jun 29, 2021 to Jun 7, 2024³³
Board memberMark T. Iwicki Jun 29, 2021 to Jun 7, 2024³⁴
Board memberPeter Kolchinsky Jun 29, 2021 to Jun 20, 2024³⁵
Board memberRajeev M. Shah Jun 29, 2021 to Jun 20, 2024³⁵
Board memberTimothy P. Noyes Jun 29, 2021 to May 17, 2024¹¹
Board memberAllison Dorval Jul 19, 2021 to Jun 7, 2024³⁶

Former names

Aerovate Therapeutics, Inc.Jan 8, 2020 to Apr 30, 2025²

Timeline

May 1, 2025New chief executive Tom Frohlich becomes CEO¹⁰
Jun 29, 2021New chief executive Timothy P. Noyes becomes CEO¹¹

Filings

448 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 56 major events, 184 insider forms, 48 large holders, 140 other. The latest 20:

Sep 30, 20268-K EDGAR
Aug 14, 2026SCHEDULE 13G/A EDGAR
Aug 14, 2026SCHEDULE 13G/A EDGAR
Aug 10, 202610-Q EDGAR
Aug 10, 20268-K EDGAR
Jul 17, 2026SCHEDULE 13G EDGAR
Jul 8, 2026SCHEDULE 13G/A EDGAR
Jul 1, 20268-K EDGAR
Jun 26, 20264 EDGAR
Jun 26, 20263 EDGAR
Jun 26, 20268-K EDGAR
Jun 11, 20264 EDGAR
Jun 11, 20264 EDGAR
Jun 11, 20264 EDGAR
Jun 11, 20264 EDGAR
Jun 11, 20264 EDGAR
Jun 11, 20268-K EDGAR
Jun 9, 2026SCHEDULE 13D/A EDGAR
Jun 5, 2026DEFA14A EDGAR
Jun 4, 20268-K EDGAR

The 448 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 48 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Fmr LLC	9,126,877	$202.8M	0.0%	+2,041,454
Jupiter Topco LLC	6,273,262	$139.4M	0.1%	New
Fairmount Funds Management LLC	4,553,494	$101.2M	6.7%	No change
Ra Capital Management, L.P.	3,671,083	$81.6M	0.7%	No change
Venrock Adviser, LLC	3,220,364	$71.6M	2.2%	No change
Bellevue Group AG	3,057,996	$67.9M	1.4%	−443,506
Paradigm Biocapital Advisors LP	2,857,405	$63.5M	1.2%	New
BlackRock, Inc.	2,801,451	$62.2M	0.0%	+487,502
Franklin Resources Inc	2,792,080	$62.0M	0.0%	New
State Street Corp	2,335,285	$51.9M	0.0%	+1,679,595
Vanguard Capital Management LLC	2,244,773	$49.9M	0.0%	+448,121
Adage Capital Partners Gp, L.l.c.	1,910,812	$42.5M	0.1%	New
Polar Capital Holdings Plc	1,846,982	$41.0M	0.1%	New
Avidity Partners Management LP	1,700,708	$37.8M	6.1%	−1,100,708
Remedium Capital Partners, LLC	1,577,750	$35.1M	7.8%	No change
Soleus Capital Management, L.P.	1,550,690	$34.5M	1.2%	+753,946
Jpmorgan Chase & Co	1,475,079	$32.6M	0.0%	+1,459,216
Baker Bros. Advisors LP	1,230,426	$27.3M	0.1%	−410,711
Logos Global Management LP	1,125,000	$25.0M	1.1%	+725,000
Versant Venture Management, LLC	991,783	$22.0M	13.6%	−534,037
Acorn Capital Advisors, LLC	986,760	$21.9M	6.0%	+200,000
Geode Capital Management, LLC	985,178	$21.9M	0.0%	+162,658
Citadel Advisors LLC	929,407	$20.7M	0.0%	+792,185
Foresite Capital Management VI LLC	886,667	$19.7M	3.1%	+566,667
Balyasny Asset Management L.P.	878,726	$19.5M	0.0%	+476,237

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARJade Biosciences, Inc. filings on SEC EDGAR
2
SEC EDGARJade Biosciences, Inc. filings on SEC EDGAR
3
SEC EDGARJade Biosciences, Inc. 10-K for fiscal 2020
4
SEC EDGARJade Biosciences, Inc. 10-K for fiscal 2021
5
SEC EDGARJade Biosciences, Inc. 10-K for fiscal 2022
6
SEC EDGARJade Biosciences, Inc. 10-K for fiscal 2023
7
SEC EDGARJade Biosciences, Inc. 10-K for fiscal 2025
8
SEC EDGARJade Biosciences, Inc. 10-Q for fiscal 2026
9
SEC EDGARJade Biosciences, Inc. 10-Q for fiscal 2026
10
SEC EDGARTom Frohlich, Chief executive officer
11
SEC EDGARTimothy P. Noyes, Chief executive officer
12
SEC EDGARBradford D. Dahms, Chief financial officer
13
SEC EDGARAndrew James King, Officer
14
SEC EDGARElizabeth Bekiroglu, Officer
15
SEC EDGARHetal Kocinsky, Chief Medical Officer
16
SEC EDGARJonathan Quick, Officer
17
SEC EDGARTimothy Pigot, Chief Commercial Officer
18
SEC EDGARMarinus Verwijs, Senior Vice President, CMC
19
SEC EDGARBenjamin T. Dake, Officer
20
SEC EDGARGeorge A. Eldridge, Officer
21
SEC EDGARHunter Gillies, Chief Medical Officer
22
SEC EDGARRalph Niven, Chief Development Officer
23
SEC EDGARMark Eisner, Board member
24
SEC EDGARChristopher W. Cain, Board member
25
SEC EDGAREric Dobmeier, Board member
26
SEC EDGARErin Lavelle, Board member
27
SEC EDGARLawrence Otto Klein, Board member
28
SEC EDGARPeter Evan Harwin, Board member
29
SEC EDGARDonald J. Santel, Board member
30
SEC EDGARHabib J. Dable, Board member
31
SEC EDGARDavid S. Grayzel, Board member
32
SEC EDGARJoshua Resnick, Board member
33
SEC EDGARMaha Katabi, Board member
34
SEC EDGARMark T. Iwicki, Board member
35
SEC EDGARPeter Kolchinsky, Board member
36
SEC EDGARAllison Dorval, Board member