Aerovate Therapeutics, INC

Market Movers (8-K)

Jade Biosciences has entered into a material definitive agreement, securing an exclusive license for antibody technology from Paragon Therapeutics, Inc., with potential milestone payments and royalties.
Jade Biosciences has appointed industry veteran Dr. Mark Eisner to its Board of Directors to bolster clinical development expertise.
Jade Biosciences, Inc. announced the approval of amended Articles of Incorporation and Bylaws, including a jury trial waiver and updated voting standards, following its 2026 Annual Meeting.
Jade Biosciences has priced a public offering of 10,000,000 shares of common stock at $15.00 per share to raise approximately $140.3 million in net proceeds.
Capital raise
Jade Biosciences announced positive interim results from its Phase 1 trial of JADE101, an investigational antibody for IgA nephropathy, showing significant and sustained IgA reductions with a favorable safety profile.
Jade Biosciences announced Q1 2026 financial results, highlighting strong cash position and progress across its autoimmune disease therapy pipeline, with multiple Phase 1 and Phase 2 trials advancing.

Quarterly Earnings (10-Q)

Jade Biosciences, Inc. reported increased operating expenses, particularly in research and development, for the first quarter of 2026, while maintaining a substantial cash and investment balance.
Worse than expected
Capital raise
Jade Biosciences, a clinical-stage biopharmaceutical company, reported a net loss of $25.2 million for Q3 2025, while significantly enhancing its liquidity with a $135 million private placement completed in October 2025.
Capital raise
Jade Biosciences, Inc. reports a strong cash position of $220.9 million following a reverse recapitalization and pre-closing financing, enabling advancement of its autoimmune disease pipeline.
Better than expected
Capital raise
Aerovate Therapeutics reports Q1 2025 results, discontinues AV-101 program, and focuses on a merger with Jade Biosciences.
Worse than expected
Aerovate Therapeutics will merge with Jade Biosciences after halting its Phase 3 trial for AV-101 due to negative results, and plans a significant cash dividend to pre-merger stockholders.
Worse than expected
Capital raise
Aerovate Therapeutics has discontinued development of its lead drug candidate, AV-101, following disappointing Phase 2b trial results and is now exploring strategic alternatives.
Worse than expected
Capital raise

Annual Reports (10-K)

Jade Biosciences, a clinical-stage biopharmaceutical company, reported significant pipeline progress for its autoimmune disease therapies and a strong cash position following recent capital raises, despite ongoing net losses.
Worse than expected
Capital raise
Aerovate Therapeutics discontinues AV-101 development for PAH following Phase 2b results and enters a merger agreement with Jade Biosciences to maximize shareholder value.
Capital raise
Worse than expected
Aerovate Therapeutics, a clinical-stage biopharmaceutical company, has released its full year 2023 results, highlighting progress in its Phase 2b/Phase 3 clinical trial for AV-101, a treatment for pulmonary arterial hypertension.
Capital raise

Insider Trading (Form 4)

Mark Eisner, a Director at Jade Biosciences, Inc., acquired stock options for 47,675 shares of common stock.
Director Christopher W. Cain was granted 34,843 stock options in Jade Biosciences, Inc. as part of his service arrangement.
Director Eric Dobmeier was granted 34,843 stock options in Jade Biosciences, Inc. as part of a standard equity compensation arrangement.
Director Lawrence Otto Klein was granted 34,843 stock options in Jade Biosciences, Inc. as part of his compensation.
Director Erin Lavelle was granted 34,843 stock options in Jade Biosciences, Inc. as part of a standard equity compensation arrangement.
Fairmount Funds Management and associated directors were granted 34,843 stock options in Jade Biosciences, Inc.

Proxy Statements (Def-14A)

Jade Biosciences, Inc. has issued its proxy statement, inviting stockholders to its 2026 Annual Meeting of Stockholders on June 9, 2026, to vote on director elections, auditor ratification, and a charter amendment.
Aerovate Therapeutics will hold its annual stockholders meeting on June 5, 2024, to vote on the election of directors and the ratification of KPMG LLP as the company's independent accounting firm.
Aerovate Therapeutics announces its 2024 Annual Meeting of Stockholders to be held on June 5, 2024, to elect directors and ratify the appointment of KPMG LLP as the independent accounting firm.

New Public Companies (S-1)

Jade Biosciences filed a Form S-1 to register 3.21 million shares for resale from its December 2025 $45 million PIPE, with no proceeds to the company.
Capital raise
Jade Biosciences, a clinical-stage biopharmaceutical company, filed an S-1 registration statement for the resale of 16.1 million common shares by selling stockholders, following a $135 million private placement and a reverse merger.
Capital raise

Schedule 13D - Activist Investments

Fairmount Funds Management LLC reports a 19.99% beneficial ownership stake in Jade Biosciences following a lock-up agreement.
Capital raise
Sofinnova Venture Partners X and its affiliates now hold less than 5% of Jade Biosciences' common stock following a merger and reverse stock split.
Fairmount Funds Management and its affiliates increased their beneficial ownership in Jade Biosciences, Inc. to 19.99% through a recent $20 million private placement.
Capital raise
Fairmount Funds Management LLC and its affiliates have disclosed a 19.99% beneficial ownership stake in Jade Biosciences, Inc. following a recent merger and corporate restructuring.
Capital raise
RA Capital Management and its affiliates have reduced their beneficial ownership in Jade Biosciences, Inc. to below 5% following a corporate merger and reverse stock split.
Capital raise
Atlas Venture entities have reported a significant reduction in their beneficial ownership of Jade Biosciences, Inc. common stock, falling below the 5% threshold, following the completion of Jade Biosciences' merger with Aerovate and a subsequent 1-for-35 reverse stock split.

Schedule 13G - Passive Investments

Paradigm BioCapital Advisors LP, along with affiliated entities, has reported beneficial ownership of over 5% of Jade Biosciences, Inc. common stock.
Janus Henderson Group Ltd. has reported beneficial ownership of 10.6% of Jade Biosciences, Inc. common stock, totaling 6,273,262 shares, as of June 30, 2026.
Janus Henderson Group plc has reported beneficial ownership of 3,105,669 shares, representing 6.3% of the outstanding common stock of Jade Biosciences, Inc.
Janus Henderson Group plc has reported a 6.2% beneficial ownership stake in JADE BIOSCIENCES, INC., holding over 3 million shares as of December 31, 2025.
Deep Track Capital and its affiliates have reported a complete divestment of their beneficial ownership in Jade Biosciences, Inc.
Worse than expected
The Vanguard Group has filed an amended Schedule 13G, disclosing a 4.24% beneficial ownership stake in Jade Biosciences Inc. as of December 31, 2025.