Jade Biosciences Inc SEC Filings

Jade Biosciences reported significant financing activity and operating losses in the quarter ended June 30, 2025. Cash and cash equivalents totaled $220.9 million at June 30, 2025, largely reflecting net proceeds of $190.5 million from the Pre-Closing Financing and cash acquired in the reverse recapitalization. Total assets were $223.97 million. The company recorded a net loss of $32.1 million for the three months and $70.3 million for the six months ended June 30, 2025. Operating expenses were $27.8 million for the quarter, including $22.5 million of research and development and $5.2 million of general and administrative expenses.

Corporate actions included a reverse recapitalization, redomestication to Nevada, conversion of $95.0 million of convertible notes into equity, issuance of Series A non-voting convertible preferred stock, and 32,626,730 shares outstanding as of August 8, 2025. The company stated its $220.9 million of cash is expected to fund operations for at least 12 months. Development programs include lead candidate JADE101 (APRIL) with first-in-human dosing planned in Q3 2025 and interim data expected H1 2026.

On July 14, 2025, Jade Biosciences, Inc. (ticker JBIO) filed a Form 4 disclosing that its Chief Financial Officer, Bradford D. Dahms, received a new equity award.

• Security granted: Stock option covering 526,000 shares of common stock.
• Exercise price: $9.00 per share.
• Term: Expires on July 14, 2035 (10-year term).
• Vesting schedule: 25 % vests on July 14, 2026; the remaining 75 % vests in equal monthly installments over the following three years, contingent on continued employment.
• Ownership form: Direct.

No common stock was bought or sold; the filing strictly reports the compensatory option grant. The transaction could increase potential dilution by up to 526,000 shares if fully exercised, but its materiality depends on JBIO’s total shares outstanding, which is not provided in this filing.

Jade Biosciences, Inc. (NASDAQ: JBIO) filed an 8-K announcing two material events:

• Patheon Master Services Agreement (Item 1.01): On 26 June 2025 the company entered into a five-year, automatically renewable master services agreement with Patheon Biologics (Thermo Fisher). Patheon will provide cGMP development, manufacturing and testing for lead asset JADE101 and future programs on a non-exclusive, project-by-project basis. Key protections include IP assignment to Jade, notification of regulatory inspections and the right for Jade to cancel projects (subject to customary fees). Financial terms are project-specific and not disclosed, but the agreement secures commercial-scale capacity and regulatory-compliant manufacturing know-how.
• C-suite transition (Item 5.02): Bradford Dahms, age 37, will become Chief Financial Officer & Treasurer effective 14 July 2025. His compensation package comprises a $500,000 base salary, a 40 % target bonus and an option for 526,000 shares vesting over four years. Change-in-control protection provides up to 1.5× salary plus target bonus and full vesting acceleration. Mr. Dahms previously held CFO roles at IDRx, Theseus Pharmaceuticals and Selecta Biosciences, bringing deep capital-markets and business-development expertise. Incumbent SVP Finance Jonathan Quick remains with the company but relinquishes principal accounting officer duties.

Collectively, the Patheon MSA de-risks manufacturing for the clinical pipeline, while the seasoned CFO hire strengthens financial leadership ahead of potential late-stage development and capital-raising activities.

Form 144 Notice of Proposed Sale filed by Jade Biosciences indicates a planned sale of 28,977 shares with an aggregate market value of $303,678.96 through Merrill Lynch on the Nasdaq exchange, scheduled for June 25, 2025.

The securities were originally acquired through a Private Placement from the issuer on June 4, 2021, purchased with cash. The total outstanding shares are 28,985,019.

Recent Trading Activity:

• Atlas Ventures Fund XII LP and Atlas Ventures Associates XII LP have conducted multiple sales in the past 3 months
• Most recent transactions occurred June 24-25, 2025, with Atlas Ventures Fund XII LP selling 16,132 shares ($167,776.03)
• Total combined recent sales by Atlas entities amount to approximately 22,429 shares

Form 144 Notice of Proposed Sale filed by Jade Biosciences (NASDAQ: JBIO) on June 28, 2025, detailing planned insider stock sales. The filing indicates a proposed sale of 235 shares with an aggregate market value of $2,462.80 through Merrill Lynch, representing a small portion of the total 28,985,019 shares outstanding.

Key transaction details:

• Shares were originally acquired through Private Placement on June 4, 2021
• Planned sale date: June 25, 2025
• Current market price implies approximately $10.48 per share

Recent insider selling activity by Atlas Ventures entities in the past 3 months totals 51,171 shares for aggregate proceeds of $537,316.10, including significant sales by Atlas Ventures Fund XII LP (50,992 shares) and smaller transactions by Atlas Venture Associates XII, LP (179 shares). This Form 144 filing suggests continued insider selling pressure while affirming no knowledge of undisclosed material adverse information.