NASDAQ$JBIO
Jade Biosciences Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Announced third quarter financial results, highlighting ongoing clinical trial progress and intellectual property expansion.
Aerovate Therapeutics reported a net loss of $19.6 million for the third quarter of 2023, compared to a net loss of $13.6 million for the same period in 2022. Research and development expenses increased to $16.9 million, and general and administrative expenses rose to $4.5 million. The company's cash, cash equivalents, and available-for-sale securities totaled $135.2 million as of September 30, 2023, expected to fund operations into 2026.
- IMPAHCT Phase 2b/Phase 3 clinical trial is on track for topline data in the second quarter of 2024.
- Expanded intellectual property portfolio with the issuance of one patent, bringing the total to five.
- Cash, cash equivalents, and available-for-sale securities totaled $135.2 million as of September 30, 2023.
- Net loss for the third quarter ended September 30, 2023, was $19.6 million.
Headline financials
Revenue & EPS history
Aerovate · Revenue · Quarterly
$0
Forward guidance
Aerovate Therapeutics anticipates that its current cash, cash equivalents, and available-for-sale securities will be sufficient to fund operations into 2026, based on the current operating plan.
Tailwinds
- Cash sufficient to fund operations into 2026.
- Focus on advancing AV-101.
- Advancing clinical trials.
- Expanding intellectual property.
- Phase 2b portion of IMPAHCT in the second quarter of 2024.
Headwinds
- Dependence on success of AV-101.
- Risks related to clinical trials.
- Regulatory developments.
- Impact of public health crises.
- Uncertainties related to patient enrollment.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q3 2023
-1.6%
Avg return
Earnings day
-2.1%
Avg return
5 days after
+2.6%
Avg return
30 days after
56%
10 / 18 earnings
Positive
+24.6%
Q3 2023
Best reaction
-35.0%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +1.2% | +1.0% | +11.6% | |
| Q2 2025 | +0.1% | -0.5% | +4.9% | |
| Q1 2025 | +1.8% | -0.3% | -4.8% | |
| Q4 2024 | +0.4% | +0.4% | -85.8% | |
| Q3 2024 | +0.0% | -3.8% | -2.7% | |
| Q1 2024 | -2.8% | +3.7% | +16.1% | |
| Q4 2023 | -0.5% | +14.7% | -17.8% | |
| Q3 2023 | +24.6% | +27.6% | +68.5% | |
| Q2 2023 | -3.5% | -6.0% | -10.8% | |
| Q1 2023 | -7.6% | -12.2% | -19.8% | |
| Q4 2022 | +0.7% | +1.7% | +9.4% | |
| Q3 2022 | +0.6% | -7.1% | +32.9% | |
| Q2 2022 | -13.7% | -17.3% | -26.4% | |
| Q1 2022 | -6.3% | +0.7% | -5.9% | |
| Q4 2021 | +8.0% | -4.8% | -24.9% | |
| Q3 2021 | -35.0% | -33.8% | -42.7% | |
| Q1 2021 | +1.8% | -1.0% | +72.5% | |
| Q2 2021 | +1.8% | -1.0% | +72.5% | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro