Street Calls of the Week
SAN FRANCISCO - Jade Biosciences, Inc. (NASDAQ:JBIO), a clinical-stage biotechnology company developing therapies for autoimmune diseases, announced Tuesday it has secured approximately $135 million in a private investment in public equity (PIPE) financing. The company, currently valued at $298.21 million, has maintained a strong financial health position with a current ratio of 5.81, according to InvestingPro data.
The transaction involves selling 13,368,164 shares of common stock at $9.14 per share and pre-funded warrants to purchase 1,402,092 additional shares at $9.1399 each, according to a press release statement from the company.
The financing round attracted participation from both new and existing investors, including Janus Henderson Investors, RA Capital Management, Marshall Wace, and Avidity Partners, among others.
The deal is expected to close on or about October 8, 2025, subject to customary closing conditions. Following completion, Jade will have approximately 67.4 million shares of common stock and equivalents outstanding.
Jefferies, TD Cowen, Stifel, and Wedbush & Co. are serving as placement agents for the transaction.
Jade plans to use the proceeds to fund research and development activities, general corporate expenses, and working capital needs. The company stated that with this financing, it expects to fund operations into the first half of 2028.
Jade’s lead candidate, JADE101, targets the cytokine APRIL and is currently in Phase 1 clinical trials for the treatment of immunoglobulin A nephropathy. The company’s pipeline also includes a second development candidate and an antibody discovery program, both in preclinical development.
The securities sold in the PIPE financing have not been registered under the Securities Act of 1933 and may not be resold in the United States except pursuant to an effective registration statement or applicable exemption from registration requirements.
In other recent news, Jefferies has initiated coverage on Jade Biosciences with a Buy rating. The firm set a price target of $16.00, highlighting positive prospects for the company’s JADE101 treatment. JADE101 is a long-acting anti-APRIL treatment for IgA nephropathy, a kidney disease. This development suggests confidence from Jefferies in the potential of Jade Biosciences’ treatment in the market. The rating reflects an optimistic outlook for the company’s product pipeline. These updates are part of recent developments surrounding Jade Biosciences.
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