REDWOOD CITY, Calif. - Jasper Therapeutics, Inc. (NASDAQ:JSPR), a biotech firm, has received clearance from Health Canada to proceed with a Phase 1b/2a clinical trial of briquilimab for treating asthma, the company announced today. This regulatory milestone allows the commencement of patient enrollment in the study, which is slated to begin dosing in the fourth quarter of 2024.
The clinical trial aims to assess the efficacy of a single 180mg dose of briquilimab in asthma patients. The double-blind, placebo-controlled study is designed to enroll 30 patients across up to 10 sites in Canada and the EU. Key assessments will include early and late asthmatic response, changes in airway hyperresponsiveness, mast cell depletion and recovery, and safety. Initial data from the study is expected in the second half of 2025.
Briquilimab is an aglycosylated monoclonal antibody that targets c-Kit (CD117), a receptor on the surface of mast cells, which are implicated in the inflammatory response associated with asthma. The treatment has been tested in over 145 dosed participants and healthy volunteers, with demonstrated efficacy and safety profiles in various conditions, including severe combined immunodeficiency and myelodysplastic syndromes.
In addition to the clinical trial announcement, Jasper also revealed that the U.S. Patent and Trademark Office has allowed a registered trademark for its proprietary Jasper c-Kit Mouse™ model. This preclinical model is used to test c-Kit inhibitors and has reportedly supported the clinical development of briquilimab.
Jasper's President and CEO, Ronald Martell, expressed optimism about the potential for briquilimab to demonstrate durable clinical benefit in asthma patients. The company's Chief Medical Officer, Edwin Tucker, M.D., highlighted the strategic approach of using a challenge study to rapidly advance the program and establish a proof of concept for briquilimab's mechanism of action.
The information for this article is based on a press release statement from Jasper Therapeutics, Inc.
In other recent news, Jasper Therapeutics, a clinical-stage biotechnology company, has been the focus of analyst attention. JMP Securities assigned a Market Outperform rating, with a price target of $70, highlighting the firm's novel biologic, briquilimab. Other firms, including H.C. Wainwright and RBC Capital, maintained their positive outlook with Buy and Outperform ratings, respectively, despite a slight delay in the BEACON trial readout.
TD Cowen, BTIG, and Stifel also initiated coverage with Buy ratings, emphasizing the potential of Jasper's briquilimab in treating chronic urticaria and severe asthma. BTIG set a price target of $90.00 and Stifel at $86.00, further underscoring the drug's potential.
These developments align with updates on Jasper Therapeutics' clinical trials. The SPOTLIGHT study in Chronic Inducible Urticaria and a trial for asthma are both scheduled for the fourth quarter of 2024. Furthermore, Jasper is preparing for a proof-of-concept asthma challenge study, also slated for the same quarter. As these recent developments unfold, investors will likely continue to monitor Jasper Therapeutics' progress closely.
InvestingPro Insights
As Jasper Therapeutics, Inc. (NASDAQ:JSPR) gears up for a significant clinical trial for its asthma treatment, briquilimab, investors may be weighing the company's financial health and market performance. According to the latest data from InvestingPro, Jasper Therapeutics holds a market capitalization of $291.53 million, underscoring its position in the biotech sector. Despite the lack of profitability over the last twelve months, with a reported operating income of -$68.15 million and an EBITDA of -$67.01 million, the company's stock has experienced a strong return over the last month of 18.12%, highlighting investor optimism surrounding its recent developments.
One of the InvestingPro Tips suggests that Jasper Therapeutics holds more cash than debt on its balance sheet, which could provide the company with a financial buffer as it progresses through costly clinical trials. Additionally, the fact that three analysts have revised their earnings upwards for the upcoming period may indicate a positive outlook on the company's future performance. However, potential investors should note that analysts do not anticipate the company will be profitable this year, and the stock price movements have been quite volatile, reflecting the inherent risks of investing in the biotech industry.
For those interested in a deeper analysis, InvestingPro offers additional tips on Jasper Therapeutics, providing further insight into the company's financial health and market prospects. To explore these insights and more, visit InvestingPro's dedicated page for Jasper Therapeutics at https://www.investing.com/pro/JSPR.
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