Jasper Therapeutics Reports Positive Data in Chronic Urticaria StudyJasper Therapeutics, Inc. (NASDAQ: JSPR), a biotechnology company valued at $266 million, announced promising preliminary findings from its BEACON Phase 1b/2a study. The trial evaluates briquilimab, an innovative antibody therapy, in treating chronic spontaneous urticaria (CSU). The data showed significant improvements in disease symptoms, coupled with a favorable safety profile, positioning briquilimab as a potential breakthrough treatment for CSU.
Despite recent stock volatility, with a 17% decline over the past week, Jasper’s liquidity remains robust, with more cash than debt on its balance sheet. Analyst evaluations suggest the company’s stock is undervalued, according to InvestingPro’s Fair Value model.
The BEACON study targeted adults with moderate to severe CSU who had not responded to conventional treatments like high-dose antihistamines and omalizumab. Jasper’s January 8, 2025 press release revealed that participants receiving a 240mg single dose demonstrated a mean change of -26.6 in the Urticaria Activity Score over 7 days (UAS7) at 8 weeks. Notably, 100% of participants achieved complete response. Additionally, cohorts with doses of 120mg and above showed UAS7 reductions exceeding -25 points.
Clinical responses appeared as early as one week post-dose, with complete responses across all therapeutic dose levels. Furthermore, the durability of the response seemed dose-dependent, as reductions in serum tryptase—a marker of mast cell activity—were observed at multiple dose levels.
Experts, including Dr. Thomas B. Casale, Professor of Medicine and Pediatrics at the University of South Florida, expressed optimism about the rapid and sustained symptom control observed in patients previously treated with omalizumab. Edwin Tucker, Chief Medical Officer at Jasper, emphasized the promising potential of briquilimab as a leading therapeutic option for CSU.
The BEACON study is randomized, double-blind, and placebo-controlled, designed to assess the safety, tolerability, and clinical efficacy of briquilimab. Preliminary data from 49 participants who completed at least 12 weeks of follow-up shows strong promise.
Jasper Therapeutics has already initiated an open-label extension study and plans to transition participants from the BEACON study to an 180mg dose every eight weeks once their initial follow-up concludes. The company is preparing to advance to a Phase 2b registrational study, anticipated to begin in late 2025.
Jasper President and CEO, Ronald Martell, praised the favorable safety profile and significant reduction in UAS7 scores, which support the advancement of the 240mg dosing regimen into Phase 2b trials for CSU.
The next earnings report is scheduled for March 5, 2025, and investors can access further insights into the company’s financial health and market potential through InvestingPro’s platform. Despite recent market fluctuations, analyst targets for Jasper’s stock range from $43 to $90, indicating considerable upside potential.
In related news, Iovance Biotherapeutics (NASDAQ:IOVA) has also seen positive developments, with Stifel analysts maintaining a Buy rating on the company, focusing on its Amtagvi product for late-stage melanoma treatment.
Jasper Therapeutics has garnered positive analyst ratings from firms like Oppenheimer, BMO Capital Markets, and H.C. Wainwright, thanks to favorable early-stage results from its SPOTLIGHT Phase 1b/2a study on briquilimab for Chronic Inducible Urticaria (CIndU). Additionally, the company has received Health Canada clearance to begin a Phase 1b/2a trial evaluating briquilimab as a potential asthma treatment. The U.S. Patent and Trademark Office has also registered a trademark for Jasper’s proprietary c-Kit Mouse™ model, vital to the clinical development of briquilimab. These advancements underscore Jasper’s growing role in the development of treatments for chronic diseases.
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