Why Is Chronic Disease-Focused Jasper Therapeutics Stock Trading Higher On Monday?

Benzinga · 10/14 13:22

On Monday, Jasper Therapeutics Inc (NASDAQ:JSPR) stock is trading higher after the company reported preliminary data from its ongoing SPOTLIGHT Phase 1b/2a study of subcutaneous briquilimab in adult participants with cold urticaria (ColdU) or symptomatic dermographism (SD).

Hives (also called urticaria) refer to raised and splotchy areas of skin that can be caused by an allergic reaction.

14 of 15 study participants (93%) enrolled in both dose cohorts (n=15) achieved a clinical response within the 6-week preliminary analysis period following administration.

In the 120mg dose cohort, 10 of 12 participants (83%) experienced a complete response (CR), and 1 participant experienced a partial response (PR).

Briquilimab was well tolerated in the study, with no serious adverse events (SAEs) and no grade 3 or higher adverse events (AEs) reported.

In alignment with the company’s clinical development plan, Jasper has obtained regulatory clearance to enroll a 180mg dose cohort (n=12) in the SPOTLIGHT study.

Jasper expects to present full data from the SPOTLIGHT study in the first half of 2025.

Jasper also announced that it expects to report initial data from all cohorts of the BEACON study in CSU during the week of January 6th, 2025, including the recently added 180mg Q8W dose cohort.

Significant reductions in tryptase were observed as early as the week 1 assessment and were correlated with the onset of clinical responses.

The greatest reduction in mean tryptase of 66% was observed at 2 weeks following treatment in the 120mg cohort. At the week 6 assessment, the mean tryptase reduction observed was 31% below the baseline, and 7 of 12 participants (58%) enrolled in the 120mg cohort continued to maintain a clinical response (CR=6, PR=1).

Mild decreases in neutrophil counts were observed, with no participants experiencing neutrophil counts below 1500.

Price Action: JSPR stock is up 5.93% at $15.90 during the premarket session at last check Monday.

Illustration of Phrama lab worker created with MidJourney.

Read Next: