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REDWOOD CITY, Calif. - Jasper Therapeutics, Inc. (NASDAQ:JSPR), a clinical-stage biotech company with a market capitalization of $101.7 million, reported promising efficacy data for its antibody therapy briquilimab in chronic spontaneous urticaria (CSU) patients, while also disclosing manufacturing issues that will delay its development timeline. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt, though it’s currently burning through cash reserves rapidly.
According to data from the company’s BEACON Phase 1b/2a study, 89% of participants in the 240mg and 360mg single-dose cohorts achieved a complete response. Additionally, 73% of patients in the 180mg every eight weeks open-label extension study reached complete response at 12 weeks.
However, results from two multi-dose cohorts appear to be compromised by issues with a specific drug product lot. The company is investigating the affected lot and plans to enroll 10-12 additional patients across these cohorts to gather reliable data.
"Results from the 240mg and 360mg single dose cohorts continue to indicate that briquilimab treatment can lead to deep and durable disease control in patients with CSU," said Ronald Martell, President and CEO of Jasper Therapeutics, in the press release.
The drug demonstrated substantial reductions in disease activity, with mean changes from baseline in Urticaria Activity Score (UAS7) of 28.3 points in the 240mg single-dose cohort and 22.9 points in the 360mg single-dose cohort at four weeks.
No grade 3 or higher treatment-related adverse events were reported, with safety observations generally limited to low-grade events that resolved during repeat dosing.
Due to the manufacturing issues, Jasper is halting its ETESIAN study in asthma, which used the same problematic drug lot. The company is also stopping development in severe combined immunodeficiency (SCID) and implementing cost-cutting measures.
The Phase 2b CSU study is now expected to begin in mid-2026, delayed from earlier projections. Data from the additional BEACON patients is anticipated in the fourth quarter of 2025.
In other recent news, Jasper Therapeutics has been in the spotlight following the release of updated clinical trial results for its chronic inducible urticaria treatment. The company presented new data from its SPOTLIGHT trial at the EAACI conference, showcasing the efficacy of a 180 mg dose of briquilimab. The results indicated a 92% complete response rate and a 100% clinical response rate in this cohort, which surpassed the outcomes of lower dose groups. Notably, H.C. Wainwright maintained its buy rating with a $40.00 price target, reflecting confidence in the trial’s positive findings.
Additionally, Citizens JMP reiterated a Market Outperform rating and a $70.00 price target for Jasper Therapeutics. The firm cited the robust efficacy of the 180 mg dose and noted its consistency with previous BEACON CSU trial results. The absence of KIT-mediated safety issues, such as hair or skin discoloration, was highlighted as a significant advantage over competing treatments. JMP also pointed out the extended duration of benefit at 8 weeks as a key differentiator. These developments underscore the promising potential of Jasper’s treatment in the competitive landscape.
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