Jade Biosciences, Inc.
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 14, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)
| Three Months EndedSeptember 30, 2025 · Three Months EndedSeptember 30, 2024 · Nine Months EndedSeptember 30, 2025 · Period from June 18, 2024 (Inception) Through September 30, 2024 | |||||
|---|---|---|---|---|---|
| Operating expenses: | |||||
| Research and development(1) | $22,010 | $13,581 | $64,580 | $13,659 | |
| General and administrative(2) | 5,391 | 1,384 | 13,983 | 1,896 | |
| Total operating expenses | 27,401 | 14,965 | 78,563 | 15,555 | |
| Loss from operations | (27,401) | (14,965) | (78,563) | (15,555) | |
| Other income (expense): | |||||
| Interest income | 2,254 | 388 | 4,697 | 388 | |
| Change in fair value of Convertible Notes payable(3) | — | (1,700) | (21,584) | (1,700) | |
| Other expense | (28) | — | (28) | — | |
| Total other income (expense), net | 2,226 | (1,312) | (16,915) | (1,312) | |
| Net loss | (25,175) | (16,277) | (95,478) | (16,867) | |
| Other comprehensive loss: | — | ||||
| Currency translation adjustment | 18 | — | (6) | — | |
| Unrealized gain on investments | 35 | — | 35 | — | |
| Comprehensive loss | $(25,122) | $(16,277) | $(95,449) | $(16,867) | |
| Net loss per share attributable to common stockholders, basic and diluted | $(0.48) | $(5.16) | $(3.08) | $(5.35) | |
| Net loss per share attributable to Series A non-voting convertible preferred stockholders, basic and diluted | $(482.25) | $— | $(3,081.78) | $— | |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 39,584,489 | 3,155,500 | 23,816,586 | 3,155,500 | |
| Weighted-average shares used in computing net loss per share attributable to Series A non-voting convertible preferred stockholders, basic and diluted | 12,622 | — | 7,166 | — | |
(1)Includes related party amounts of $5.8 million and $17.5 million for the three and nine months ended September 30, 2025, respectively, and $13.1 million for the three months ended September 30, 2024 and $13.2 million for the period from June 18, 2024 (inception) through September 30, 2024 (see Note 15).
(2)Includes related party amounts of $0.2 million for both the three and nine months ended September 30, 2025, and $0.4 million for the three months ended September 30, 2024 and $0.9 million for the period from June 18, 2024 (inception) through September 30, 2024 (see Note 15).
(3)Includes related party amounts of$4.6 million for the nine months ended September 30, 2025, and none for the three months ended September 30, 2025. Includes related party amounts of $0.4 million for the period from June 18, 2024 (inception) through September 30, 2024 (see Note 15).
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