Street Calls of the Week
REDWOOD CITY, Calif. - Jasper Therapeutics, Inc. (NASDAQ:JSPR), a clinical-stage biotechnology company with a current market capitalization of $42.1 million, has priced an underwritten public offering expected to raise approximately $30 million in gross proceeds. The announcement comes as the company’s stock trades near $2.59, down nearly 90% over the past year according to InvestingPro data.
The offering consists of 11,670,707 shares of common stock with accompanying warrants at $2.43 per share and 675,000 pre-funded warrants with accompanying common warrants. The common warrants will have an exercise price of $2.92 per share and will be exercisable starting six months after issuance for a period of four years. InvestingPro analysis shows the company holds more cash than debt on its balance sheet, though it’s quickly burning through available funds.
TD Cowen is serving as the sole book-running manager for the offering, which is expected to close on or about September 22, 2025, subject to customary closing conditions.
Jasper plans to use the proceeds to advance the development of briquilimab, its antibody therapy targeting KIT (CD117), for mast cell driven diseases including chronic spontaneous urticaria, chronic inducible urticaria, and asthma. Funds will also support general corporate purposes such as capital expenditures and administrative expenses.
Briquilimab is an aglycosylated monoclonal antibody designed to block stem cell factor from binding to the KIT receptor, inhibiting signaling that supports mast cell survival. By depleting mast cells through apoptosis, the therapy aims to remove the underlying source of inflammatory response in these conditions.
The securities are being offered pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission in March 2025.
According to the press release statement, the company has previously demonstrated efficacy and safety of briquilimab in patients and healthy volunteers, with positive clinical outcomes in both chronic spontaneous urticaria and chronic inducible urticaria. While analyst price targets range from $4 to $51, InvestingPro data indicates the company faces significant financial challenges, with an overall weak financial health score and analysts not anticipating profitability this year. Get access to 13 additional ProTips and comprehensive analysis with an InvestingPro subscription.
In other recent news, Jasper Therapeutics announced plans for a public offering of its common stock and accompanying warrants. The company intends to use the proceeds from this offering to advance the development of briquilimab, its antibody therapy targeting KIT (CD117) for mast cell-driven diseases. Following this announcement, BTIG reiterated its Buy rating on Jasper Therapeutics, maintaining a $20 price target. The firm expects an update on the BEACON study cohorts later this year. Meanwhile, JMP Securities has maintained a Market Outperform rating with a $12 price target, despite a recent setback in the company’s clinical trial program. This setback was attributed to a drug product issue, but JMP remains positive due to briquilimab’s promising response rates. Jasper is taking measures to extend its cash runway to reach critical data by year-end. These developments highlight the company’s ongoing efforts to advance its clinical programs.
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