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Investing.com -- Jasper Therapeutics Inc. (NASDAQ:JSPR) stock plummeted 64.6% after the company revealed manufacturing problems that compromised results in key clinical trials and forced significant program delays.
The biotech company disclosed that an issue with one drug product lot affected two dosing cohorts in its BEACON Phase 1b/2a study of briquilimab for chronic spontaneous urticaria. Ten of 13 patients in these cohorts received the problematic drug, showing lower than expected drops in tryptase levels and no measurable impact on symptom scores.
While some cohorts showed promising results, with 89% of participants in the 240mg and 360mg single-dose groups achieving complete response, the manufacturing setback has forced Jasper to enroll an additional 10-12 patients using new drug product. This pushes expected data readout to the fourth quarter of 2025 and delays the planned Phase 2b study to mid-2026.
The manufacturing problems extended beyond the urticaria trial, causing Jasper to halt its ETESIAN asthma trial and pause asthma development entirely. The company is also discontinuing development in severe combined immunodeficiency and implementing cost-cutting measures that may include restructuring.
Despite the setbacks, the company reported no grade 3 or higher treatment-related adverse events in the BEACON study. Mild neutrophil count decreases were observed but generally resolved, with a median resolution time of 42 days in the single-dose cohorts.
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