Jade Biosciences completes $172.5 million stock offering

Jade Biosciences Inc. (NASDAQ: JBIO) completed its public offering of 11.5 million common shares at $15.00 per share, generating gross proceeds of $172.5 million before fees and expenses. The biotechnology company sold all shares in the offering, which included 1.5 million additional shares purchased through the underwriters' full exercise of their over-allotment option.

The clinical-stage company develops therapies for autoimmune diseases and plans to use the net proceeds to fund clinical trials, preclinical studies, manufacturing, research and development activities, capital expenditures, working capital and general corporate purposes, according to a company statement.

Jefferies, TD Cowen and UBS Investment Bank served as joint book-running managers for the offering. LifeSci Capital acted as passive book-running manager, while BTIG served as lead manager.

The shares were offered under a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on May 15, 2026. Jade's pipeline includes JADE101, which targets the cytokine APRIL for treatment of immunoglobulin A nephropathy, JADE201, an anti-BAFF-R monoclonal antibody, and JADE301, an undisclosed antibody program.

The company was launched using assets licensed from Paragon Therapeutics, an antibody discovery platform founded by Fairmount.

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