Investing.com -- Jasper Therapeutics, a pharmaceutical company, experienced a significant drop in its stock value, with shares falling by up to 52% in premarket trading.
This sharp decline came after the company released preliminary results from an early stage trial for its experimental treatment for chronic hives, which failed to meet investor expectations.
The study, known as the BEACON Phase 1b/2a, focused on the effectiveness of briquilimab in adults suffering from chronic spontaneous urticaria (CSU), a skin condition commonly referred to as chronic hives.
"Combined with the favorable safety profile enabled by our optimal biologic dosing approach, we believe briquilimab has demonstrated the potential to be a leading therapeutic option for patients with CSU," the company said in a press release.
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