Jasper Therapeutics Reports Fourth Quarter and Full-Year 2024 Financial Results and Provides Corporate Update

Core Viewpoint - Jasper Therapeutics is advancing its clinical-stage antibody therapy, briquilimab, targeting mast cell-driven diseases, with promising data from recent studies indicating its potential efficacy and safety profile [2][3]. Clinical Development - The BEACON study for chronic spontaneous urticaria (CSU) and the SPOTLIGHT study for chronic inducible urticaria (CIndU) have shown positive preliminary results, supporting the advancement of briquilimab into a pivotal Phase 2b study [2][3]. - In the BEACON study, multiple dosing regimens of briquilimab (≥120mg) demonstrated over 25 points improvement in weekly urticaria activity score (UAS7), with clinical responses observed as early as one week post-administration [3]. - The SPOTLIGHT study reported that 93% of participants achieved a clinical response within six weeks, with 83% in the 120mg cohort experiencing a complete response [3]. Financial Performance - For the fiscal year ended December 31, 2024, Jasper reported a net loss of $71.3 million, with a basic and diluted net loss per share of$4.89 [7][10]. - Research and development expenses for the year were $55.8 million, while general and administrative expenses totaled$20.4 million [7][10]. - As of December 31, 2024, the company had cash and cash equivalents of $71.6 million [7][12]. Future Expectations - Jasper plans to commence a Phase 2b operationally adaptive study for briquilimab in CSU in the second half of 2025, with additional data expected from ongoing studies [3][7]. - The company is also conducting an open-label extension study for chronic urticarias and has initiated the ETESIAN Phase 1b/2a clinical challenge study for asthma, with initial data expected in the second half of 2025 [7][8].