Aerovate Therapeutics Stockholders Approve Proposed Merger with Jade Biosciences and All Related Proposals

—Aerovate Board of Directors approves 1-for-35 reverse stock split—

WALTHAM, Mass., April 21, 2025 /PRNewswire/ -- Aerovate Therapeutics, Inc. (Nasdaq: AVTE) ("Aerovate") today announced that its stockholders have approved the proposed merger (the "Merger") with Jade Biosciences, Inc. ("Jade"), along with all proposals related to the Merger. The proposals were voted upon at Aerovate's special meeting of stockholders held on April 16, 2025 (the "Special Meeting"), including a reverse stock split of Aerovate's common stock to be effected at the discretion of the Board of Directors (the "Board") within the parameters approved by Aerovate's stockholders.

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