Jade Biosciences, Inc. filed its quarterly report on Form 10-Q for the period ended June 30, 2026, with the Securities and Exchange Commission on August 10, 2026, disclosing a net loss of $96.1 million for the first half of the year and total assets of $472.1 million.

Key Highlights

  • Net loss for Q2 2026: $55.765 million, compared to $32.134 million in Q2 2025.
  • Six-month net loss: $96.133 million for the six months ended June 30, 2026, versus $70.303 million for the same period in 2025.
  • Total assets: $472.113 million as of June 30, 2026, up from $349.781 million at December 31, 2025.
  • Cash and investments: Cash and cash equivalents of $107.250 million and investments of $353.955 million as of June 30, 2026.
  • Research and development expenses: $86.118 million for the six months ended June 30, 2026, compared to $42.570 million for the same period in 2025.
  • Shares outstanding: 63,597,387 shares of common stock outstanding as of August 3, 2026.
  • Accumulated deficit: $270.522 million as of June 30, 2026, compared to $174.389 million at December 31, 2025.

Jade Biosciences Q2 2026: Rising R&D Spend and Expanded Balance Sheet

According to the filing, Jade Biosciences, Inc. (Nasdaq Capital Market: JBIO) reported a net loss of $55.765 million for the three months ended June 30, 2026, compared to a net loss of $32.134 million for the three months ended June 30, 2025. For the six months ended June 30, 2026, the company disclosed a net loss of $96.133 million, versus $70.303 million for the corresponding prior-year period. The company reported no revenue in either period, with all operating expenses composed of research and development costs and general and administrative expenses.

Research and development expenses were the primary driver of operating losses, according to the filing. The company reported R&D expenses of $50.065 million for Q2 2026 and $86.118 million for the first six months of 2026. The filing noted that R&D expenses included related-party amounts of $13.0 million and $17.3 million for the three and six months ended June 30, 2026, respectively. General and administrative expenses were $8.851 million for Q2 2026 and $16.243 million for the first half of 2026. Interest income of $6.330 million for the six-month period partially offset operating losses, the filing stated.

The company's balance sheet expanded materially during the first half of 2026, the filing disclosed. Total assets grew to $472.113 million as of June 30, 2026, from $349.781 million at December 31, 2025, driven largely by an increase in investments from $247.720 million to $353.955 million and a rise in cash and cash equivalents from $88.438 million to $107.250 million. Total stockholders' equity stood at $439.915 million as of June 30, 2026. The filing also disclosed a warrant liability classified as a related-party item of $9.770 million, which did not exist at December 31, 2025. Common shares issued and outstanding increased to 63,556,065 as of June 30, 2026, from 49,316,287 at December 31, 2025.

What Was Disclosed

Jade Biosciences filed its 10-Q for the quarter ended June 30, 2026, reporting a Q2 net loss of $55.765 million, six-month R&D expenses of $86.118 million, total assets of $472.113 million, and an accumulated deficit of $270.522 million, with no revenue recorded.