Jade Biosciences Inc. Common Stock (JBIO)

FairStock Score: 31/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Jade as Graham would: I need evidence of earning power and a margin of safety, not a story. The company has no reported revenue in the filings provided. It lost $75.5 million in FY2023, $69.6 million in FY2024, and $127.4 million in FY2025. Losses are widening: in fiscal Q2 2026, the quarter ended 2026-06-30, net loss was $55.8 million, or diluted EPS of -$0.76, worse than fiscal Q2 2025's $32.1 million loss. The supplied trailing-twelve-month free cash flow is -$123.6 million, a -14.5% FCF yield on the $853.5 million market cap. At the 2026-10-13 close of $13.42, P/B is 1.94 and P/E is -12.54, both FairStock calculations; the negative earnings make P/E meaningless. ROE is -89.19% and ROCE is -33.59%, also FairStock calculations. The one balance-sheet positive is D/E of 0.00 and an Altman Z-Score of 16.22, though a pre-revenue biotech's balance sheet can change quickly. The moat is unproven: JADE101 is only Phase 1, while JADE201 and JADE-003 are preclinical. The Paragon collaboration may help, but no revenue or profit validates it. Piotroski F-Score is 2/9, FairStock Score 31/100, and the Lynch category is none because of four straight loss years. I cannot value this on earnings. It is a speculative pipeline bet, not a Graham defensive investment.

In plain English: Jade Biosciences is a small healthcare company trying to develop new medicines for autoimmune diseases. It has no reported revenue and has been losing money, including a $127.4 million loss in fiscal 2025. The stock price is hard to judge as cheap or expensive because there are no profits to compare it with; the business looks weak today but could change if its experimental drugs succeed.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer