v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting  
Segment Reporting

15. Segment Reporting

The Company has one reportable segment relating to the research and development of its programs, JADE101, JADE201, and JADE301. The Company’s chief operating decision maker (“CODM”), its Chief Executive Officer, manages the Company’s operations on a consolidated basis and uses consolidated net loss for the allocation of resources and the assessment of performance. Although the Company’s financial reporting package that is reviewed and approved by the CODM disaggregates significant expenses such as program-level external research and development costs, personnel costs, including stock-based compensation expense, and professional and consulting fees, all decisions made by the CODM are based upon reviewing operating metrics and performance indicators at the Company-wide consolidated level and consolidated net loss. The CODM uses consolidated net loss to evaluate loss generated from the Company’s business activities in deciding how to allocate company resources and in monitoring budget versus actual results. Assets are also managed on a Company-wide consolidated basis.

The table below is a summary of the significant expenses categories regularly provided to the CODM (in thousands):

 

 

 

Three Months Ended
June 30, 2026

 

 

Three Months Ended
June 30, 2025

 

 

Six Months Ended
June 30, 2026

 

 

Six Months Ended
June 30, 2025

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

JADE101 external research and development costs

 

$

14,978

 

 

$

7,249

 

 

$

30,401

 

 

$

17,016

 

JADE201 external research and development costs

 

 

6,104

 

 

 

8,356

 

 

 

8,981

 

 

 

13,510

 

JADE301 external research and development costs

 

 

10,105

 

 

 

926

 

 

 

16,027

 

 

 

1,659

 

Research and development personnel-related costs (including stock-based compensation)

 

 

16,775

 

 

 

5,710

 

 

 

27,423

 

 

 

9,662

 

Other research and development costs

 

 

2,103

 

 

 

306

 

 

 

3,286

 

 

 

723

 

General and administrative personnel-related costs (including stock-based compensation)

 

 

5,687

 

 

 

3,118

 

 

 

10,985

 

 

 

4,827

 

General and administrative professional, consulting, and other fees

 

 

3,164

 

 

 

2,113

 

 

 

5,258

 

 

 

3,765

 

Total operating expenses

 

$

58,916

 

 

$

27,778

 

 

$

102,361

 

 

$

51,162