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Jade Biosciences (NASDAQ: JBIO) widens Q2 2026 loss while cash rises to $461M

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Jade Biosciences, Inc., a clinical-stage biotechnology company developing therapies for autoimmune diseases, reported results for the quarter ended June 30, 2026 and provided a pipeline update. The company highlighted positive interim Phase 1 data for JADE101 in IgA nephropathy, noting biomarker activity and durability with a favorable safety profile. JADE301, an anti-IFN-ß monoclonal antibody for dermatomyositis, is being advanced toward Phase 1 initiation, while JADE201 continues clinical progress in autoimmune diseases.

Cash, cash equivalents and investments were $461,205 thousand as of June 30, 2026, compared with $336,158 thousand at December 31, 2025. Total liabilities were $32,198 thousand and stockholders’ equity was $439,915 thousand. For the second quarter of 2026, research and development expense was $50,065 thousand and general and administrative expense was $8,851 thousand, leading to total operating expenses of $58,916 thousand versus $27,778 thousand a year earlier. Net loss for the quarter was $55,765 thousand compared with $32,134 thousand in the prior-year period, with net loss per share attributable to common stockholders of $0.76 versus $0.86.

Positive

  • Liquidity strengthened, with cash, cash equivalents and investments of $461,205 thousand at June 30, 2026 versus $336,158 thousand at December 31, 2025.
  • Pipeline advanced, including positive interim Phase 1 data for JADE101 in IgA nephropathy and progress toward Phase 1 initiation of JADE301.

Negative

  • Quarterly net loss increased to $55,765 thousand from $32,134 thousand year over year, reflecting higher operating expenses.
  • Total operating expenses for the quarter more than doubled to $58,916 thousand from $27,778 thousand, driven largely by increased research and development spending.
Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Cash, cash equivalents and investments $461,205 thousand Balance at June 30, 2026
Cash, cash equivalents and investments $336,158 thousand Balance at December 31, 2025
Total operating expenses $58,916 thousand Three months ended June 30, 2026
Total operating expenses $27,778 thousand Three months ended June 30, 2025
Net loss $55,765 thousand Three months ended June 30, 2026
Net loss $32,134 thousand Three months ended June 30, 2025
Research and development expense $50,065 thousand Three months ended June 30, 2026
Total stockholders’ equity $439,915 thousand As of June 30, 2026
clinical-stage biotechnology company medical
"Jade Biosciences, Inc. (“Jade”) ... a clinical-stage biotechnology company focused on developing best-in-class therapies"
IgA nephropathy medical
"JADE101 that exceeded our expectations ... to deliver a potentially best-in-class profile in IgA nephropathy"
A kidney disease caused when deposits of the antibody called IgA collect in the tiny filters of the kidney, gradually reducing their ability to clear waste — like grit building up in a water filter. It matters to investors because it creates demand for diagnostics, drugs and long‑term care, drives clinical trial activity and regulatory decisions, and can influence the financial outlook of companies in pharma, biotech, medical devices and health insurance.
dermatomyositis medical
"JADE301, our half-life–extended anti-IFN-ß monoclonal antibody in development for dermatomyositis"
Dermatomyositis is an autoimmune disease in which the body's immune system mistakenly attacks muscle and skin, causing muscle weakness, tiredness, and a distinctive skin rash. It matters to investors because it creates a defined market and regulatory pathway for medicines, affects clinical trial design and outcomes, and can influence a company's revenue prospects much like a clear customer need draws product development and investment attention.
monoclonal antibody medical
"JADE101: anti-APRIL monoclonal antibody for IgA nephropathy (IgAN)"
A monoclonal antibody is a laboratory-made protein designed to recognize and attach to a specific target in the body, such as a disease-causing substance or cell. It functions like a highly precise lock-and-key tool, helping to treat or detect illnesses. For investors, companies developing monoclonal antibodies can represent promising opportunities in the healthcare sector, especially as these treatments often address unmet medical needs.
afucosylated medical
"JADE201, an afucosylated anti-BAFF-R monoclonal antibody, as well as JADE301"
Afucosylated describes a biologic drug—usually an antibody—that has had a specific sugar molecule (fucose) removed from its tail region, which changes how well immune cells can grab and destroy targeted cells. Removing that sugar is like replacing a weak magnet with a stronger one: it often boosts the drug’s ability to recruit immune attack, potentially making it more potent, allowing lower doses or clearer clinical advantages, but also adding manufacturing and regulatory considerations investors should watch.
Phase 1 clinical trial medical
"expected timelines for the initiation of the Phase 1 clinical trial of JADE301"
A phase 1 clinical trial is the first stage of testing a new drug or treatment in people, typically involving a small group to assess safety, how the body handles the treatment, and appropriate dosing. For investors, phase 1 results are an early risk check — like a test drive that can reveal fatal flaws or promising signals — and they often cause big changes in a drug’s perceived value and the company’s prospects.
Net loss $55,765 thousand (Q2 2026) Higher than prior-year net loss of $32,134 thousand
Total operating expenses $58,916 thousand (Q2 2026) Higher than prior-year total operating expenses of $27,778 thousand
Cash, cash equivalents and investments $461,205 thousand at June 30, 2026 Increased from $336,158 thousand at December 31, 2025

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What did Jade Biosciences (JBIO) report for its second quarter 2026 net loss?
Jade Biosciences reported a net loss of $55,765 thousand for the quarter ended June 30, 2026, compared with $32,134 thousand in the same quarter of 2025, reflecting higher research and development and general and administrative expenses.

How much cash does Jade Biosciences (JBIO) have as of June 30, 2026?
As of June 30, 2026, Jade Biosciences held $461,205 thousand in cash, cash equivalents and investments, up from $336,158 thousand at December 31, 2025, providing substantial resources to fund its clinical-stage autoimmune disease pipeline.

How did Jade Biosciences (JBIO) operating expenses change in Q2 2026?
Total operating expenses in Q2 2026 were $58,916 thousand, up from $27,778 thousand in Q2 2025. Research and development expenses rose to $50,065 thousand, while general and administrative expenses increased to $8,851 thousand.

What progress did Jade Biosciences (JBIO) report on JADE101 and JADE301?
Jade reported positive interim Phase 1 data for JADE101 in IgA nephropathy and is moving JADE301 toward Phase 1 initiation for dermatomyositis, while maintaining clinical progress with JADE201 for autoimmune diseases.

What is Jade Biosciences’ (JBIO) loss per share for Q2 2026?
Net loss per share attributable to common stockholders for Q2 2026 was $0.76, compared with $0.86 in Q2 2025, reflecting a higher weighted-average share count alongside a higher absolute net loss.

What is the financial position of Jade Biosciences (JBIO) as of June 30, 2026?
As of June 30, 2026, Jade Biosciences reported total assets of $472,113 thousand, total liabilities of $32,198 thousand, and stockholders’ equity of $439,915 thousand, indicating a balance sheet largely funded by equity.
NASDAQ false 0001798749 0001798749 2026-08-10 2026-08-10
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 10, 2026

 

 

Jade Biosciences, Inc.

(Exact name of Registrant as specified in its charter)

 

 

 

Nevada   001-40544   83-1377888

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

221 Crescent St., Building 23  
Suite 105  
Waltham, MA   02453
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (781) 312-3013

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Common Stock, $0.0001 par value per share   JBIO   The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

 

 
 

Item 2.02. Results of Operations and Financial Condition.

On August 10, 2026, Jade Biosciences, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this “Report”).

This Item 2.02 and Exhibit 99.1 to this Report are being furnished to the SEC and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

EXHIBIT INDEX

 

Exhibit   

Description

99.1    Press release issued on August 10, 2026.
104    Cover page interactive data file (embedded within the inline XBRL document)

 

SIGNATURES

Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    Jade Biosciences, Inc.
    (Registrant)
Date: August 10, 2026     By:  

/s/ Bradford Dahms

    Name:   Bradford Dahms
    Title:   Chief Financial Officer and Treasurer

Exhibit 99.1

Jade Biosciences Reports Second Quarter 2026 Financial Results and Provides Corporate Update

 

  •  

Announced positive interim Phase 1 results for JADE101 demonstrating potential for every 12-week subcutaneous dosing and best-in-class clinical activity in IgA nephropathy

 

  •  

Phase 2 JADE101 clinical trial in IgA nephropathy underway; interim data expected in 2027

 

  •  

Phase 3 JADE101 registrational trial in IgA nephropathy expected to begin in the first half of 2027

 

  •  

Began dosing participants with rheumatoid arthritis in Phase 1 trial of JADE201; interim data expected in 2027

 

  •  

JADE301, a potentially best-in-class, half-life–extended anti-IFN-ß for dermatomyositis, now expected to initiate a Phase 1 healthy volunteer trial in the fourth quarter of 2026, with interim data anticipated in second half of 2027

 

  •  

Cash, cash equivalents, and investments of $461 million as of June 30, 2026 expected to provide runway into the fourth quarter of 2028

San Francisco and Vancouver, British Columbia – August 10, 2026 – Jade Biosciences, Inc. (“Jade” or the “Company”) (Nasdaq: JBIO), a clinical-stage biotechnology company focused on developing best-in-class therapies for autoimmune diseases, today announced financial results for the second quarter ending June 30, 2026, and provided a corporate update.

“This was an important period for Jade as we reported positive interim Phase 1 data for JADE101 that exceeded our expectations across biomarker activity and durability, with a favorable safety profile, strengthening our conviction to rapidly advance the compound to deliver a potentially best-in-class profile in IgA nephropathy,” said Tom Frohlich, Chief Executive Officer of Jade Biosciences. “We are also excited by the momentum behind the rest of our pipeline, including JADE301, our half-life–extended anti-IFN-ß monoclonal antibody in development for dermatomyositis, which we are advancing toward Phase 1 initiation ahead of plan. We believe the clinically validated anti- IFN-ß mechanism, together with JADE301’s differentiated target product profile, supports our strategy of developing disease-modifying therapies in areas with large unmet need. Alongside the continued clinical progress of JADE201, these advances reinforce our confidence in the potential of our pipeline.”

Pipeline and Corporate Updates

JADE101: anti-APRIL monoclonal antibody for IgA nephropathy (IgAN)

 

  •  

Announced positive interim data from the Phase 1 JADE101 trial, which were subsequently presented at the 63rd European Renal Association (ERA) Congress. Key results included:

 

  •  

Mean IgA reductions reached approximately 70% from baseline after a single 700 mg dose. Duration of IgA reductions supports the potential for an every 12-week maintenance dosing interval.

 

  •  

Greater than 70% IgA reductions simulated at steady state with a single 350 mg subcutaneous maintenance injection every 12 weeks following one 700 mg induction dose.

 

  •  

JADE101 was well-tolerated across all doses.

  •  

Announced dosing began in JUNIPER, a Phase 2 trial of JADE101 in IgAN. A Trial-in-Progress update on JUNIPER was presented during the 63rd ERA Congress. Interim data are expected in 2027.

 

  •  

Jade plans to initiate a registrational Phase 3 clinical trial in the first half of 2027, pending feedback and requirements from the U.S. Food and Drug Administration.

JADE201: anti-BAFF-R monoclonal antibody for autoimmune diseases

 

  •  

Announced dosing began in the Phase 1 clinical trial evaluating JADE201 in participants with rheumatoid arthritis; interim, biomarker-rich data expected in 2027 are anticipated to inform indication prioritization and a focused clinical development strategy.

 

  •  

JADE201 has broad potential across multiple autoimmune indications supported by B cell and BAFF-R biology.

JADE301: anti- IFN-ß monoclonal antibody for dermatomyositis

 

  •  

Jade today unveiled JADE301, a potentially best-in-class monoclonal antibody in development for dermatomyositis (DM), a rare and debilitating autoimmune disease in which excessive IFN-ß activity is believed to be the central driver of muscle and skin pathology.

 

  •  

JADE301 is a selective anti-IFN-ß monoclonal antibody designed for subcutaneous administration at extended dosing intervals. By selectively targeting a key upstream mediator of disease biology, it has the potential to address DM while avoiding broad inhibition of multiple cytokine-signaling pathways.

 

  •  

JADE301 targets a validated mechanism in DM with a differentiated molecular profile, including a YTE half-life–extending modification. This profile has the potential for meaningful efficacy across muscle and skin manifestations, a favorable tolerability profile, and convenient, infrequent subcutaneous dosing.

 

  •  

Approximately 50,000 adults in the U.S. are affected by DM, and up to 80% of patients experience chronic, painful disease. This significant unmet need highlights the importance of more effective, durable, and well-tolerated treatment options.

 

  •  

Jade plans to present preclinical data further characterizing JADE301 at the 2026 European Academy of Dermatology and Venereology Congress, taking place September 30–October 3, 2026, in Vienna, Austria.

 

  •  

A Phase 1 trial in healthy volunteers is now expected to begin in the fourth quarter of 2026, with interim data anticipated in the second half of 2027.

Corporate

 

  •  

Completed a $172.5 million public offering, extending expected runway into the fourth quarter of 2028.

 

  •  

Announced Mark Eisner, M.D., M.P.H., was appointed to the Jade Board of Directors. Dr. Eisner has more than 25 years of leadership in clinical development and immunology.

Second Quarter 2026 Financial Results

 

  •  

Cash Position: As of June 30, 2026, Jade had cash, cash equivalents, and investments of $461.2 million. Based on its current operating plans, Jade believes that its existing cash, cash equivalents and investments will enable it to fund its operating expenses and capital expenditure requirements into the fourth quarter of 2028.

 

Page 2

  •  

Research and Development (R&D) expenses: R&D expenses were $50.1 million for the second quarter ended June 30, 2026 and included $10.6 million in stock-based compensation expense. R&D expenses were $22.5 million for the quarter ended June 30, 2025 and included $2.6 million in stock-based compensation expense. R&D expenses increased primarily due to increased costs around chemistry, manufacturing and controls, clinical activity, one-time development milestone payments, and personnel-related costs and related stock-based compensation expense.

 

  •  

General and Administrative (G&A) expenses: G&A expenses were $8.9 million for the second quarter ended June 30, 2026 and included $3.0 million in stock-based compensation expense. G&A expenses were $5.2 million for the quarter ended June 30, 2025 and included $1.4 million in stock-based compensation expense. The increase in G&A expenses was primarily due to higher personnel-related costs and related stock-based compensation expense.

 

  •  

Net loss: Net loss totaled $55.8 million for the second quarter ended June 30, 2026, compared to $32.1 million for the quarter ended June 30, 2025. Net loss increased primarily due to higher R&D and G&A expenses, as described above.

 

  •  

Shares Outstanding: As of June 30, 2026, Jade had approximately 83,893,254 shares of common stock and common stock equivalents outstanding, including shares underlying pre-funded warrants and non-voting convertible preferred stock.

About Jade Biosciences, Inc.

Jade Biosciences is a clinical-stage biotechnology company focused on developing best-in-class therapies that address critical unmet needs in autoimmune diseases. Jade’s lead candidate, JADE101, targets the cytokine APRIL, and is currently being evaluated for the treatment of immunoglobulin A nephropathy. Jade’s pipeline also includes JADE201, an afucosylated anti-BAFF-R monoclonal antibody, as well as JADE301, an anti-IFN-ß monoclonal antibody. Jade was launched based on assets licensed from Paragon Therapeutics, an antibody discovery engine founded by Fairmount. For more information, visit JadeBiosciences.com and follow the Company on LinkedIn.

Forward-Looking Statements

Certain statements in this communication, other than purely historical information, may constitute “forward-looking statements” within the meaning of the federal securities laws, including for purposes of the “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements relating to Jade’s expectations, hopes, beliefs, intentions or strategies regarding the future of its pipeline and business including, without limitation: Jade’s ability to achieve the expected benefits or opportunities with respect to JADE101, JADE201 and JADE301 and their best-in-class potential; the potential markets for Jade’s product candidates; the expected timeline for the availability of interim data from the Phase 2 clinical trial of JADE101; Jade’s plans to conduct a Phase 3 clinical trial of JADE101, the design and timing thereof and Jade’s expectations that such trial will serve as a registrational study; Jade’s proposed dosing strategy for JADE101; projected or simulated pharmacodynamic outcomes, including steady-state IgA reductions; the expected timelines for the initiation of the Phase 1 clinical trial of JADE301 and for the availability of interim data from the Phase 1 clinical trials of JADE201 and JADE301; expectations regarding the type of data anticipated to be received from the Phase 1 clinical trial of JADE201; the

 

Page 3

potential therapeutic uses, efficacy, durability, safety profiles, and dosing of JADE101, JADE201 and JADE301; the anticipated use of net proceeds from the referenced public offering; and the potential for Jade’s cash runway to extend into the fourth quarter of 2028. The words “opportunity,” “potential,” “milestones,” “pipeline,” “can,” “goal,” “strategy,” “target,” “anticipate,” “achieve,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “plan,” “possible,” “project,” “should,” “will,” “would” and similar expressions (including the negatives of these terms or variations of them) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting Jade will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Jade’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: interim results of a clinical trial are not necessarily indicative of final results and one or more of the outcomes may materially change following more comprehensive reviews of the data, as follow-up on the outcome of any particular participant continues and as more participant or final data becomes available; modeled and predicted data for JADE101 may not be realized in actual clinical studies; the ongoing and planned clinical trials of JADE101, JADE201 and JADE301 and any other clinical trials may be delayed or may not demonstrate desirable efficacy or predicted performance; Jade’s planned JADE101 Phase 3 clinical trial may be delayed based on FDA feedback or requirements, as the FDA retains broad discretion to require additional clinical data for any product candidate prior to the conduct of a Phase 3 clinical trial or submission for regulatory approval; even if such Phase 3 trial is successful, it may not support regulatory approval; adverse events and safety signals may occur; Jade may experience unanticipated costs, difficulties or delays in the product development process; Jade’s product candidates may be delayed to a point where they are not commercially viable; clinical trial start up, enrollment or regulatory challenges may occur; challenges associated with Jade’s dependence on third-party vendors for the development, manufacture and supply of its product candidates may occur; Jade may use its capital resources sooner than expected; and the other risks, uncertainties and factors more fully described in Jade’s most recent filings with the Securities and Exchange Commission (including the Quarterly Report on Form 10-Q for the quarter ended March 31, 2026). Should one or more of these risks or uncertainties materialize, or should any of Jade’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Jade does not undertake or accept any duty to release publicly any updates or revisions to any forward-looking statements, except as required by law. This communication does not purport to summarize all of the conditions, risks and other attributes of an investment in Jade.

Jade Biosciences Contact

Priyanka Shah

Media@JadeBiosciences.com

IR@JadeBiosciences.com

908-447-6134

 

Page 4

JADE BIOSCIENCES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share amounts)

 

     June 30,
2026		      December 31,
2025		  

Cash, cash equivalents and investments

    $ 461,205      $ 336,158  

Other assets

      10,908        13,623  
  

 

 

     

 

 

  

Total assets

    $ 472,113      $ 349,781  
  

 

 

     

 

 

  

Total liabilities

    $ 32,198      $ 17,263  
  

 

 

     

 

 

  

Total stockholders’ equity

      439,915        332,518  
  

 

 

     

 

 

  

Total liabilities and stockholders’ equity

    $ 472,113      $ 349,781  
  

 

 

     

 

 

  

JADE BIOSCIENCES, INC.

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share amounts)

 

    Three Months
Ended
June 30, 2026		     Three Months
Ended
June 30, 2025		     Six Months
Ended
June 30, 2026		     Six Months
Ended
June 30, 2025		  

Operating expenses

        

Research and development(1)

   $ 50,065     $ 22,547     $ 86,118     $ 42,570  

General and administrative(2)

     8,851       5,231       16,243       8,592  
 

 

 

    

 

 

    

 

 

    

 

 

  

Total operating expenses

     58,916       27,778       102,361       51,162  
 

 

 

    

 

 

    

 

 

    

 

 

  

Loss from operations

     (58,916 )      (27,778 )      (102,361 )      (51,162 ) 

Other income (expense):

        

Interest income

     3,228       1,828       6,330       2,443  

Change in fair value of Convertible Notes payable(3)

     —        (6,184 )      —        (21,584 ) 

Other expense

     (62 )      —        (71 )      —   
 

 

 

    

 

 

    

 

 

    

 

 

  

Total other income (expense), net

     3,166       (4,356 )      6,259       (19,141 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Net loss before income tax expense

     (55,750 )      (32,134 )      (96,102 )      (70,303 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Income tax expense

     (15 )      —        (31 )      —   
 

 

 

    

 

 

    

 

 

    

 

 

  

Net loss

     (55,765 )      (32,134 )      (96,133 )      (70,303 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Other comprehensive income (loss):

        

Currency translation adjustment

   $ (73 )    $ (24 )    $ (71 )    $ (24 ) 

Unrealized loss on investments

   $ (245 )    $ —      $ (718 )    $ —   
 

 

 

    

 

 

    

 

 

    

 

 

  

Comprehensive loss

   $ (56,083 )    $ (32,158 )    $ (96,922 )    $ (70,327 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Net loss per share attributable to common stockholders, basic and diluted

   $ (0.76 )    $ (0.86 )    $ (1.33 )    $ (3.45 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Net loss per share attributable to Series A non-voting convertible preferred stockholders, basic and diluted

   $ (756.93 )    $ (863.46 )    $ (1,334.34 )    $ (3,450.78 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted

     61,050,775       28,431,158       59,423,013       15,932,206  
 

 

 

    

 

 

    

 

 

    

 

 

  

Weighted-average shares used in computing net loss per share attributable to Series A non-voting convertible preferred stockholders, basic and diluted

     12,622       8,781       12,622       4,439  
 

 

 

    

 

 

    

 

 

    

 

 

  

 

(1)

Includes related party amounts of $13.0 million and $17.3 million for the three and six months ended June 30, 2026, respectively, and $3.9 million and $11.7 million for the three and six months ended June 30, 2025, respectively.

(2)

Includes no related party amount for the three months ended June 30, 2026 and $0.2 million for the six months ended June 30, 2026. Includes related party amounts of $0.1 million for each of the three and six months ended June 30, 2025, respectively.

(3)

Includes no related party amounts for the three and six months ended June 30, 2026 and $1.3 million and $4.6 million for the three and six months ended June 30, 2025, respectively.

 

Page 5

Source: View Original Filing on SEC EDGAR

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