Jade Biosciences, Inc. JBIO

Healthcare SIC 2834 - Pharmaceutical Preparations Nasdaq

We are a clinical-stage biopharmaceutical company developing novel biologic therapies for patients living with autoimmune diseases. Our goal is to improve meaningfully upon the existing treatment paradigm through the delivery of improved dosing and convenience, a comparable safety profile, and potentially increased clinical activity. Our approach is to discover and efficiently develop biologics that address emerging targets supported by third-party clinical data and that overcome shortcomings of existing product candidates in development, such as potency, bioavailability, formulation, and pharmacokinetic properties.

Our lead product candidate, JADE101, is a monoclonal antibody ("mAb") targeting a cytokine called "A PRoliferation Inducing Ligand" ("APRIL") that modulates plasma cell survival and immunoglobulin production, which we plan to initially develop for the treatment of IgA nephropathy ("IgAN"). Our second product candidate is JADE201, a mAb targeting B cell activating factor receptor ("BAFF-R") for the treatment of multiple autoimmune disorders. Our third product candidate is JADE301, a mAb targeting an undisclosed pathway.

Last close 19.90 2026-09-04
Market cap $1.27B 2026-06-30 share count
52-week range 6.91 - 28.00

Valuation FY2025 figures against the last close

P/S
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-3.19

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
R&D $93.1M$53.2M$64.2M$38.6M$15.0M$7.9M
SG&A $20.4M$21.4M$17.2M$14.6M$8.0M$949.0K
Total operating expenses $113.5M$74.6M$81.4M$53.2M$23.0M$8.9M
Operating income -$113.5M-$74.6M-$81.4M-$53.2M-$23.0M-$8.9M
Interest expense $75.0K
Pre-tax income -$127.4M-$69.6M-$75.5M-$51.5M-$23.0M-$9.6M
Income tax $58.0K$55.0K$56.0K$25.0K$3.0K
Net income -$127.4M-$69.6M-$75.5M-$51.5M-$23.0M-$9.6M
EPS, basic -3.19-2.44-2.87-2.10-1.87
EPS, diluted -3.19-2.44-2.87-2.10-1.87-40.31
Shares, diluted (wtd. avg.) $31.4M$28.6M$26.3M$24.5M$12.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Cash and equivalents $88.4M$69.4M$23.5M$22.4M$54.2M$4.6M
Short-term investments $247.7M$0$98.9M$106.8M$113.2M
Total current assets $348.8M$69.7M$124.2M$131.5M$174.3M$4.7M
Property, plant and equipment $170.0K$6.0K$288.0K$242.0K$186.0K$39.0K
Total assets $349.8M$72.8M$127.4M$135.3M$175.4M$4.7M
Accounts payable $2.2M$1.3M$2.4M$2.6M$1.2M$618.0K
Total current liabilities $16.5M$12.0M$17.6M$7.8M$2.5M$1.8M
Total liabilities $17.3M$119.6M$18.0M$8.6M$2.9M$1.8M
Retained earnings -$174.4M-$47.0M-$163.4M-$87.9M-$36.4M-$13.4M
Total equity $332.5M$1.0K$109.5M$126.7M$172.4M-$13.3M-$3.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Operating cash flow -$94.7M-$71.2M-$56.8M-$39.1M-$27.4M-$7.9M
Depreciation and amortisation $26.0K$282.0K$96.0K$68.0K$15.0K$1.0K
Stock-based compensation $20.0M$11.3M$11.9M$5.5M$2.0M$58.0K
Capital expenditure $196.0K$142.0K$195.0K$181.0K
Investing cash flow -$247.0M$56.0M$11.9M$6.9M-$113.4M
Financing cash flow $360.8M$25.4M$46.0M$396.0K$190.5M$8.9M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-096550.

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