On Monday, Jasper Therapeutics (NASDAQ:JSPR), a biotechnology firm, received an Outperform rating as coverage was initiated by TD Cowen. The focus of the positive outlook is on Jasper's leading asset, briquilimab, which is being developed to address the significant unmet need in chronic urticaria (CU), a debilitating skin condition.
Briquilimab is an anti-c-KIT monoclonal antibody designed to deplete mast cells, which are implicated in the manifestation of CU's primary symptoms—itchy wheals/hives and angioedema. CU affects a considerable patient population, with approximately 3.5 million individuals diagnosed and treated in the G6 nations. The treatment landscape for CU is particularly limited for patients who do not respond to antihistamines, estimated to be around 40-50%.
Currently, the only approved second-line biologic treatment for chronic spontaneous urticaria (CSU) is Xolair (omalizumab), developed by Roche/Novartis. However, Xolair is only effective for about half to two-thirds of patients and has a relatively low market penetration, as indicated by key opinion leader feedback and market analysis. For chronic inducible urticaria (CIndU), where no approved therapies exist beyond antihistamines, patients often have to avoid triggers to manage their symptoms.
The Outperform rating reflects the potential of briquilimab to fill a gap in the treatment of CU, particularly for patients who have not found relief with existing medications. Jasper Therapeutics' focus on this area of significant unmet medical need could represent a key advancement for those affected by CU.
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