Jade Biosciences, Inc.
For the period ended Jun 30, 2026. Filed Aug 10, 2026.
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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.
Jun 30, 2026 · Filed Aug 10, 2026
JBIO$16.40+5.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Six Months EndedJune 30, 2026 | Six Months EndedJune 30, 2025 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | $(96,133) | $(70,303) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Change in fair value of Convertible Notes payable | — | 21,584 |
| Stock-based compensation | 21,011 | 6,318 |
| Non-cash lease expense | 51 | 74 |
| Accretion/amortization on investments | (851) | — |
| Depreciation expense | 18 | 5 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 2,612 | (1,358) |
| Other assets | — | 88 |
| Accounts payable | 4,428 | 4,938 |
| Accrued expenses and other current liabilities | 5,856 | 2,862 |
| Related party accrued expenses and other current liabilities | (4,670) | (3,124) |
| Operating lease liabilities | (59) | — |
| Net cash used in operating activities | (67,737) | (38,916) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | — | (136) |
| Purchases of investments | (216,221) | — |
| Proceeds from sales/maturities of investments | 110,119 | — |
| Net cash used in investing activities | $(106,102) | $(136) |
| Cash flows from financing activities: | ||
| Proceeds from the Pre-Closing Financing, net of $14,548 of offering costs | — | 190,452 |
| Cash acquired in connection with the reverse recapitalization | — | 156 |
| Issuance costs from the December 2025 PIPE Financing | (809) | — |
| Issuance costs from the October 2025 PIPE Financing | (31) | — |
| Proceeds from the June 2026 Financing, net of issuance costs | 162,073 | — |
| Proceeds from at-the-market offerings, net of commissions | 29,331 | — |
| Proceeds from stock option exercises | 1,579 | — |
| Proceeds from ESPP issuances | 585 | — |
| Net cash provided by financing activities | 192,728 | 190,608 |
| Effect of exchange rates on cash and cash equivalents | (77) | — |
| Net increase in cash and cash equivalents | 18,812 | 151,556 |
| Cash and cash equivalents at beginning of period | 88,438 | 69,386 |
| Cash and cash equivalents at end of period | $107,250 | $220,942 |
| Supplemental disclosure of non-cash operating, investing, and financing activities: | ||
| Purchases of property and equipment in accounts payable | $— | $16 |
| Deferred offering costs reclassified from Other assets to equity | $— | $2,998 |
| Deferred offering costs in accounts payable or accrued expenses and other current liabilities | $490 | $1,341 |
| Operating lease liability arising from obtaining right-of-use asset | $— | $773 |
| Prepaids and other current assets acquired in connection with the reverse recapitalization | $— | $416 |
| Other liabilities assumed in connection with the reverse recapitalization | $— | $(1,020) |
| Convertible note principal and non-cash accrued interest converted to common stock and pre-funded warrants | $— | $129,184 |
| Non-cash exchange of Series Seed Convertible Preferred Stock for Company Series A non-voting convertible preferred stock | $— | $2 |
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
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