George Eldridge
Abcuro Inc., a clinical-stage biotechnology company, has appointed George Eldridge as its new chief financial officer. Eldridge brings over 30 years of experience in finance and business operations within the biotechnology industry, including guiding Aerovate Therapeutics through its IPO. His expertise will be crucial as Abcuro prepares for key clinical data readouts for its lead asset, ulviprubart.
RTW Biotech Opportunities’ Jade Biosciences merges with Aerovate Therapeutics
Jade Biosciences, a portfolio company of RTW Biotech Opportunities (RTW), has merged with Nasdaq-listed Aerovate Therapeutics, with the combined entity retaining the Jade Biosciences name and JBIO ticker. This merger provides Jade Biosciences with a public listing and resources to advance its lead candidate, JADE-001, an investigational therapy for Immunoglobulin A nephropathy, into clinical trials in late 2025. RTW, which initially backed Jade in August 2024, views this merger as a validation of its strategy to support high-potential early-stage assets.
Jade Biosciences Completes Closing of Merger with Aerovate
Jade Biosciences announced the completion of its merger with Aerovate Therapeutics and an oversubscribed private placement of approximately $300 million. The combined company, operating as “Jade Biosciences, Inc.” and trading under "JBIO" on Nasdaq, aims to advance novel therapies for autoimmune diseases, with its lead candidate JADE-001 expected to enter clinical trials in late 2025. The merger also involved a reverse stock split for Aerovate common stock and a special cash dividend for pre-merger Aerovate stockholders.
Aerovate Therapeutics and Jade Biosciences Merger Approved
Aerovate Therapeutics announced stockholder approval for its merger with Jade Biosciences, including a 1-for-35 reverse stock split. The combined company will trade on Nasdaq as "Jade Biosciences, Inc." (JBIO) starting April 29, 2025, with an estimated 32.2 million shares outstanding. A special cash dividend of $2.40 per share, totaling $69.6 million, will be paid to Aerovate stockholders of record as of April 25, 2025.
Aerovate approves reverse split ahead of Jade merger By Investing.com
Aerovate Therapeutics, Inc. announced a 1-for-35 reverse stock split ahead of its merger with Jade Biosciences, Inc., with the combined company set to trade as "JBIO" on Nasdaq from April 29, 2025. Stockholders will also receive a special cash dividend of an estimated $2.40 per share, totaling around $69.6 million. The merger combines Aerovate's focus on rare cardiopulmonary diseases with Jade Biosciences' development of autoimmune therapies, including its lead asset JADE-001.
Aerovate Therapeutics Announces Range of Expected Cash Dividend in Connection with the Proposed Merger with Jade Biosciences
Aerovate Therapeutics expects to declare a cash dividend to pre-Merger stockholders of $67.6 – $69.6 million in connection with its proposed merger with Jade Biosciences. The dividend, subject to board and stockholder approval, is anticipated to be paid around the Closing, which is expected by April 30, 2025. Stockholders will vote on the merger on April 16, 2025.
Aerovate Therapeutics Inc. (AVTE) reports earnings
Aerovate Therapeutics Inc. (AVTE) filed its 10-K report for the fiscal year ended December 31, 2024, detailing a halt in the development of AV-101 due to negative clinical trial results. The company is undergoing restructuring and exploring a merger with Jade Biosciences, Inc., following a net loss of $69.6 million. Future operations hinge on the successful completion of this proposed merger.
AEROVATE THERAPEUTICS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of Aerovate Therapeutics, Inc. - AVTE
Kahn Swick & Foti, LLC (KSF) is investigating the proposed merger of Aerovate Therapeutics, Inc. (NasdaqGM: AVTE) and Jade Biosciences, where Aerovate shareholders will own approximately 1.6% of the combined company. Former Attorney General of Louisiana Charles C. Foti, Jr. and KSF are examining if the merger terms are fair to Aerovate shareholders and are offering legal consultation to affected shareholders.
AEROVATE THERAPEUTICS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of Aerovate Therapeutics, Inc. - AVTE
Kahn Swick & Foti, LLC (KSF), led by Former Attorney General of Louisiana Charles C. Foti, Jr., is investigating the proposed merger of Aerovate Therapeutics, Inc. (AVTE) and Jade Biosciences. KSF is scrutinizing whether the merger terms, which would leave Aerovate shareholders with approximately 1.6% of the combined company, are fair and adequate. Shareholders are encouraged to contact KSF to discuss their legal rights regarding this transaction.
Waltham biotech to terminate 'nearly all' its workforce
Aerovate Therapeutics, a Waltham-based biotech company, is set to terminate "nearly all" of its workforce. This decision comes after the company shut down its late-stage trial in pulmonary arterial hypertension. Timothy Noyes is the CEO of Aerovate Therapeutics.
Aerovate Therapeutics Announces 24-Week Topline Results
Aerovate Therapeutics announced that its drug AV-101 did not meet the primary endpoint of reducing pulmonary vascular resistance (PVR) in the Phase 2b portion of its IMPAHCT trial for pulmonary arterial hypertension (PAH). The drug also failed to show meaningful improvements in the secondary endpoint of a six-minute walk distance. As a result, Aerovate will halt enrollment and shut down the Phase 3 portion of the trial.
Aerovate Therapeutics Stock Dropped Over 90%. Here’s Why.
Aerovate Therapeutics stock plummeted over 90% after its drug for pulmonary arterial hypertension failed in Phase 2 testing. This significant drop occurred on Monday following the announcement by the company regarding its blood pressure medication.
AbelsonTaylor Group: 2024
AbelsonTaylor Group experienced significant growth in 2023, surpassing $70 million in revenue and exceeding its 15 percent growth target. The company expanded into new areas of healthcare marketing, forming an independent network with three business units: AbelsonTaylor, AT Nutrient, and DOSE. These strategic moves and successful campaigns for major pharmaceutical clients like Biogen and Neurocrine Biosciences underscore its mission to "Help the world choose better health" and provide measurable business results.
Aerovate Therapeutics Inc CEO Timothy Noyes Sells 10,000 Shares
Aerovate Therapeutics Inc CEO Timothy Noyes sold 10,000 shares of the company stock on April 1, 2024, for a total of $300,000. This sale is part of a larger trend of insider selling at the company, with 46 insider sells and no buys recorded over the past year. Investors often monitor such transactions for insights into a company's performance, though they can be influenced by various personal financial factors.
Chief Medical Officer Hunter Gillies Sells 7,000 Shares of Aerovate Therapeutics Inc (AVTE)
Hunter Gillies, Chief Medical Officer of Aerovate Therapeutics Inc (AVTE), sold 7,000 shares of the company on March 18, 2024, for a total of $181,090. This sale is part of a larger trend of insider selling over the past year, with no insider purchases reported for AVTE during the same period. The company is a clinical-stage biopharmaceutical firm focused on treatments for cardiopulmonary diseases.
Aerovate Therapeutics Board of Directors Appoints Habib Dable as Board Chair
Aerovate Therapeutics has appointed Habib Dable as the new Chair of its Board of Directors, succeeding Mark Iwicki. This appointment comes at a critical time for the company, as it awaits Phase 2b data from its IMPAHCT trial of AV-101 for pulmonary arterial hypertension (PAH) in June, with a Phase 3 trial already in progress. Dable's extensive experience in drug development and commercialization, including leading Acceleron Pharma to an $11.5 billion sale, is expected to be invaluable as Aerovate advances AV-101 through clinical development.
Aerovate Therapeutics Presents Phase 1 Data for AV-101, A Novel Dry Powder Inhaled Formulation of Imatinib Being Developed for the Treatment of Patients with Pulmonary Arterial Hypertension (PAH)
Aerovate Therapeutics announced positive Phase 1 data for AV-101, a novel inhaled dry powder formulation of imatinib, developed for Pulmonary Arterial Hypertension (PAH). The study showed AV-101 was generally well-tolerated in healthy adults, significantly reducing systemic exposure compared to oral imatinib while achieving lung exposures believed to be therapeutic. These results support the dose selection for the ongoing Phase 2b/Phase 3 IMPAHCT trial.
Aerovate Therapeutics Appoints Timothy Noyes as Chief Executive Officer
Aerovate Therapeutics, a clinical-stage biopharmaceutical company, has appointed Timothy Noyes as its new Chief Executive Officer and elected him to its Board of Directors. Noyes brings 30 years of experience in the biopharmaceutical industry, having previously led Proteon Therapeutics and held senior roles at Trine Pharmaceuticals and Genzyme. His appointment is expected to advance Aerovate's lead drug candidate, AV-101, an inhaled treatment for Pulmonary Arterial Hypertension (PAH), into efficacy trials.
