REDWOOD CITY, Calif. – Jasper Therapeutics, Inc. (NASDAQ: JSPR), a biotechnology firm with a market capitalization of $266 million, has announced encouraging preliminary results from its BEACON Phase 1b/2a study evaluating briquilimab, a novel antibody therapy, in treating chronic spontaneous urticaria (CSU). The study observed significant improvements in disease symptoms with a favorable safety profile. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet, though the stock has experienced significant volatility, dropping 17% in the past week. InvestingPro analysis indicates the stock is currently undervalued based on its Fair Value model.
The trial included adult participants with moderate to severe CSU who had not responded adequately to traditional treatments, including high-dose antihistamines and omalizumab. Jasper's press release on January 8, 2025, detailed that the 240mg single-dose cohort showed a mean change in the Urticaria Activity Score over 7 days (UAS7) of -26.6 at 8 weeks, with 100% of participants achieving complete response. Additionally, dosing regimens of 120mg and above demonstrated a UAS7 change of more than -25 points.
Patients experienced clinical responses as early as one week post-dose, with complete responses achieved at all therapeutic dose levels. The durability of the response appeared to be dose-dependent, with reductions in serum tryptase—a marker of mast cell activity—below the lower limit of quantification at multiple dose levels.
Thomas B. Casale, M.D., Professor of Medicine and Pediatrics at the University of South Florida Morsani College of Medicine, expressed optimism about the data, citing rapid and durable symptom control in the study's omalizumab-experienced population. Edwin Tucker, Chief Medical (TASE:PMCN) Officer of Jasper, echoed this sentiment, highlighting the potential of briquilimab as a leading therapeutic option for CSU.
The BEACON study, which is randomized, double-blind, and placebo-controlled, aims to evaluate the safety, tolerability, and clinical activity of briquilimab. The preliminary data includes results from 49 participants who completed at least 12 weeks of follow-up. With the company's next earnings report scheduled for March 5, 2025, investors following this development can access comprehensive analysis through InvestingPro, which offers exclusive insights and 10 additional ProTips about JSPR's financial health and market performance. The platform's Pro Research Report provides detailed analysis of what matters most for biotechnology investments like JSPR.
Jasper has commenced an open-label extension study and plans to roll over patients from the BEACON study to a 180mg dose every eight weeks upon completion of their initial follow-up period. The company is also preparing to begin a registrational program with a Phase 2b study expected to start in the second half of 2025.
Ronald Martell, President and CEO of Jasper, stated that the favorable safety profile and the profound reduction in UAS7 scores support advancing a 240mg dosing regimen into the Phase 2b portion of a CSU registrational program.
This report is based on a press release statement from Jasper Therapeutics, Inc. Despite recent market volatility, analyst targets for JSPR range from $43 to $90, reflecting significant potential upside according to InvestingPro data. The company maintains a Fair overall financial health rating, though it's worth noting that analysts don't anticipate profitability this year.
In other recent news, Iovance Biotherapeutics (NASDAQ:IOVA) continues to generate optimism with Stifel maintaining a Buy rating, focusing on the potential of its Amtagvi product for late-line melanoma treatment and the prospects of its Proleukin product. Stifel's analysts also expressed confidence in other biotech companies, including ACLX, IRON, JSPR, and IDYA, highlighting their clinically de-risked assets and potential for regulatory catalysts.
Meanwhile, Jasper Therapeutics has been the focus of positive ratings from various analyst firms, including Oppenheimer, BMO Capital Markets, H.C. Wainwright, and BTIG, following promising initial results from its SPOTLIGHT Phase 1b/2a study on briquilimab for treating Chronic Inducible Urticaria (CIndU). The company also received clearance from Health Canada to commence a Phase 1b/2a clinical trial for briquilimab as a potential treatment for asthma. Furthermore, the U.S. Patent and Trademark Office registered a trademark for Jasper's proprietary Jasper c-Kit Mouse™ model, which has been instrumental in the clinical development of briquilimab. These are the recent developments in the ongoing efforts of Iovance Biotherapeutics and Jasper Therapeutics to advance treatments for chronic diseases.
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