The firm maintains a conservative capital structure with a debt-to-equity ratio of 0.00, though shareholders' equity has eroded to $296.5M in 2026Q1 due to persistent net losses.
| Total Current Assets | 318.52M | 336.16M | 80.12M | 124.23M | 131.5M | 174.33M | 4.68M |
| Cash & Short-Term Investments | 311.3M | 336.16M | 78.62M | 122.44M | 129.22M | 167.38M | 4.57M |
| Cash Only | 55.09M | 88.44M | 33.75M | 23.49M | 22.4M | 54.2M | 4.57M |
| Short-Term Investments | 256.21M | 247.72M | 44.87M | 98.95M | 106.82M | 113.18M | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 7.22M | 0 | 845K | 250K | 295K | 240K | 103K |
| Total Non-Current Assets | 916K | 13.62M | 215K | 3.19M | 3.8M | 1.03M | 39K |
| Property, Plant & Equipment | 847K | 0 | 215K | 902K | 1.25M | 728K | 39K |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 69K | 13.62M | 0 | 2.28M | 2.56M | 302K | 0 |
| Total Assets | 319.43M | 349.78M | 80.33M | 127.42M | 135.3M | 175.36M | 4.71M |
| Asset Turnover | 0.00x | - | - | - | - | - | - |
| Asset Growth % | 558.51% | 335.42% | -36.95% | -5.83% | -22.85% | 3619.26% | - |
| Total Current Liabilities | 22.29M | 16.54M | 3.83M | 17.64M | 7.78M | 2.55M | 1.77M |
| Accounts Payable | 3.98M | 2.15M | 224K | 2.4M | 2.58M | 1.21M | 618K |
| Days Payables Outstanding | 152.75K | - | 289.93 | 9.11K | 13.82K | 29.39K | 225.57K |
| Short-Term Debt | 0 | 0 | 417K | 420K | 385K | 192K | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 15.57M | 14.39M | 319K | 10.45M | 3.13M | 360K | 964K |
| Current Ratio | 14.29x | 20.33x | 20.93x | 7.04x | 16.90x | 68.37x | 2.64x |
| Quick Ratio | 14.29x | 20.33x | 20.93x | 7.04x | 16.90x | 68.37x | 2.64x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 679K | 724K | 70K | 325K | 776K | 395K | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 2.94M | 724K | 0 | 255K | 705K | 382K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 70K | 70K | 71K | 13K | 0 |
| Total Liabilities | 22.97M | 17.26M | 3.9M | 17.96M | 8.56M | 2.94M | 1.77M |
| Total Debt | 679K | 724K | 417K | 675K | 1.09M | 574K | 0 |
| Net Debt | -54.41M | -87.71M | -33.33M | -22.82M | -21.31M | -53.62M | -4.57M |
| Debt / Equity | 0.00x | 0.00x | 0.01x | 0.01x | 0.01x | 0.00x | - |
| Debt / EBITDA | -0.01x | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.41x | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | -127.15x |
| Total Equity | 296.46M | 332.52M | 76.43M | 109.46M | 126.74M | 172.42M | 2.94M |
| Equity Growth % | 571.37% | 335.04% | -30.17% | -13.64% | -26.49% | 5762.56% | - |
| Book Value per Share | 5.13 | 10.60 | 93.60 | 145.49 | 181.27 | 247.22 | 4.22 |
| Total Shareholders' Equity | 296.46M | 332.52M | 76.43M | 109.46M | 126.74M | 172.42M | 2.94M |
| Common Stock | 5K | 5K | 3K | 3K | 2K | 2K | 0 |
| Retained Earnings | -214.76M | -174.39M | -233.05M | -163.42M | -87.9M | -36.39M | -13.41M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -342K | 129K | 105K | 237K | -466K | -59K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical trial execution failure
As reported in financial statements, Jade Biosciences' total assets declined from $349.8M in 2025Q4 to $319.4M in 2026Q1, signaling a rapid consumption of resources as the company accelerates its clinical development programs without the offset of any commercial revenue streams to stabilize the balance sheet.
The contraction in total assets reflects the ongoing conversion of cash into R&D-related operating expenses. Investors should monitor whether this trajectory indicates a structural inability to maintain a sufficient capital buffer as the company approaches critical clinical data milestones.
According to recent SEC filings, the company's cash position dropped from $88.4M in 2025Q4 to $55.1M in 2026Q1, which suggests that the current liquidity runway is narrowing significantly as the firm intensifies its investment in the JADE-001 clinical program ahead of anticipated data readouts.
While the current ratio of 14.29 appears superficially robust, it is heavily skewed by the remaining cash balance relative to minimal current liabilities. This liquidity profile warrants further investigation, as the rapid burn rate may necessitate dilutive financing well before the company achieves clinical proof-of-concept.
Based on reported figures, shareholders' equity has trended downward to $296.5M in 2026Q1 from $332.5M in 2025Q4, a decline primarily driven by the accumulation of significant net losses as the company continues to fund its preclinical and early-stage clinical research pipeline through equity-based capital.
The persistent negative retained earnings of $214.8M underscore the company's status as a pure development-stage entity. The erosion of equity value suggests that future capital allocation will likely remain focused on survival rather than value creation until the lead asset demonstrates clinical efficacy.
As indicated by the balance sheet data, the absence of significant PPE, which stood at only $847.0K in 2026Q1, suggests that the company's value is almost entirely tied to intangible intellectual property, which may be subject to impairment if clinical trials fail to meet primary endpoints.
The lack of tangible assets highlights the extreme sensitivity of the balance sheet to clinical outcomes. Investors should remain cautious, as the company's valuation is predicated on the success of the JADE-001 molecule, with little underlying physical collateral to support the firm in a downside scenario.
Quick answers to the most common questions about buying JBIO stock.
As of 2025, Jade Biosciences, Inc. (JBIO) had total assets of $349.8M including $336.2M in current assets.
Jade Biosciences, Inc. (JBIO) carries total debt of $0.7M, offset by $336.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Jade Biosciences, Inc. (JBIO) has total shareholders' equity (book value) of $332.5M ($10.60 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Jade Biosciences, Inc. (JBIO) reported a current ratio of 20.33x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.