Jade Biosciences Q3 net loss widens less than expected

Overview

• US biotech firm's Q3 net loss widened, but beat analyst expectations

• R&D and G&A expenses rose yr/yr, increasing total operating expenses

• Company ended Q3 with $475.7 mln in cash and investments, expects runway into Q4 2028

Outlook

• Company expects to initiate Phase 3 EVERGREEN trial in IgA nephropathy in Q4 2026

• Interim data from Phase 2 JUNIPER trial in IgA nephropathy expected in Q2 2027

• Cash, cash equivalents and investments expected to provide runway into Q4 2028

Result Drivers

• R&D SPENDING - R&D expenses rose due to increased costs for chemistry, manufacturing, controls, clinical activity, and personnel-related costs, including stock-based compensation

• G&A COSTS - G&A expenses increased due to higher personnel-related costs and stock-based compensation

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 11 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Jade Biosciences, Inc. is $47.00, about 196.2% above its November 12 closing price of $15.87

Reuters Recommended Reads

• Nov 12 - Prime Medicine Q3 loss narrows as expenses decline

• Nov 12 - Pliant Therapeutics Q3 net loss narrows on lower expenses

• Nov 12 - Rocket Pharmaceuticals Q3 net loss narrows as R&D costs fall

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)