REDWOOD CITY, Calif., May 14, 2025 (GLOBE NEWSWIRE) -- Jasper Therapeutics, Inc. (Nasdaq: JSPR) (Jasper), a clinical stage biotechnology company focused on development of briquilimab, a novel antibody therapy targeting KIT to address mast cell driven diseases such as chronic spontaneous urticaria (CSU), chronic inducible urticaria (CIndU) and asthma, today announced that management will participate in the following investor conferences: RBC Capital Markets 2025 Global Healthcare Conference Conference Dates: ...

Exhibit 99.1 Jasper Therapeutics Reports First Quarter 2025 Financial Results and Provides Corporate Update REDWOOD CITY, Calif., May 12, 2025 (GLOBE NEWSWIRE) – Jasper Therapeutics, Inc. (Nasdaq: JSPR) (Jasper), a clinical stage biotechnology company focused on development of briquilimab, a novel antibody therapy targeting KIT to address mast cell driven diseases such as chronic spontaneous urticaria (CSU), chronic inducible urticaria (CIndU) and asthma, today reported results for the fiscal quarter ended ...

REDWOOD CITY, Calif., May 12, 2025 (GLOBE NEWSWIRE) -- Jasper Therapeutics, Inc. (Nasdaq: JSPR) (Jasper), a clinical stage biotechnology company focused on development of briquilimab, a novel antibody therapy targeting KIT to address mast cell driven diseases such as chronic spontaneous urticaria (CSU), chronic inducible urticaria (CIndU) and asthma, today reported results for the fiscal quarter ended March 31, 2025 and provided a corporate update. “During the first quarter of 2025 we made great progress ad ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number: 001-39138 JASPER THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) Delaware 8 ...

Core Insights - Jasper Therapeutics is presenting updated clinical data for briquilimab, an antibody therapy targeting c-Kit for mast cell driven diseases, at the AAAAI 2025 Annual Meeting [1][2] - The BEACON study shows briquilimab is well tolerated with a favorable safety profile, supporting its advancement into a registrational program for chronic spontaneous urticaria (CSU) [2][3] - The company plans to initiate a Phase 2b operationally adaptive study in the second half of 2025, with additional data expected mid-year 2025 to inform dose selection [2][3] Clinical Data - The updated BEACON study data includes approximately one month of additional dosing and follow-up from 49 participants [2] - No new adverse events related to c-Kit blockade were observed, reinforcing the safety profile of briquilimab [2][3] - The treatment demonstrated rapid and deep clinical responses in patients with moderate to severe CSU, particularly those previously treated with omalizumab [3] Future Plans - Jasper is enrolling additional patients in the BEACON and SPOTLIGHT studies, with plans to report data from around 70 more patients treated with briquilimab doses of 180mg or higher by mid-2025 [3] - The company aims to differentiate briquilimab from other therapies in terms of onset of action, depth of response, and safety/tolerability [3] Presentation Details - The presentations at the AAAAI 2025 Annual Meeting include multiple abstracts related to briquilimab's efficacy and mechanisms of action [4][5] - Key sessions include late-breaking oral and poster presentations scheduled for March 1 and March 2, 2025 [4][5] Company Overview - Jasper Therapeutics focuses on developing briquilimab as a treatment for chronic mast cell diseases, including CSU and asthma [6] - Briquilimab works by blocking stem cell factor from binding to c-Kit, leading to mast cell depletion and addressing the inflammatory response in these diseases [6]

Financial Performance - The company incurred net losses of $71.3 million and $64.5 million for the years ended December 31, 2024 and 2023, respectively [426]. - The company generated negative operating cash flows of $62.6 million and $52.1 million for the years ended December 31, 2024 and 2023, respectively [426]. - As of December 31, 2024, the company had an accumulated deficit of $240.9 million [426]. - Net loss increased by $6.8 million, from $64.5 million in 2023 to $71.3 million in 2024, an 11% increase [446]. - Total other income, net increased by $0.6 million, from $4.4 million in 2023 to $5.0 million in 2024 [453]. - Cash provided by financing activities for the year ended December 31, 2024, was $47.9 million, primarily from the issuance and sale of common stock [477]. - The company anticipates substantial additional funding will be required to support ongoing operations and product development initiatives [464]. - The company has significant uncertainties regarding its ability to continue as a going concern within one year from the date of filing the Annual Report due to recurring losses and negative cash flows [464]. Research and Development - The company commenced the Phase 1b/2a BEACON study in Chronic Spontaneous Urticaria (CSU) in late 2023, with 100% complete responses observed at the 240mg dose level [421]. - In the Phase 1b/2a SPOTLIGHT study for Chronic Inducible Urticaria (CIndU), 93% of participants achieved a clinical response across the 40mg and 120mg dosing cohorts [429]. - The company is developing briquilimab as a one-time conditioning therapy for severe combined immunodeficiency (SCID) patients undergoing a second stem cell transplant [422]. - The company has an exclusive license agreement with Amgen for the development and commercialization of briquilimab in all indications and territories worldwide [424]. Expenses and Costs - Research and development expenses increased by $4.0 million, from $51.8 million in 2023 to $55.8 million in 2024, representing an 8% increase [447]. - Personnel-related costs in research and development rose by $4.9 million, from $10.0 million in 2023 to $14.9 million in 2024, a 49% increase [448]. - General and administrative expenses increased by $3.3 million, from $17.1 million in 2023 to $20.4 million in 2024, a 20% increase [452]. - Total operating expenses rose by $7.4 million, from $68.9 million in 2023 to $76.2 million in 2024, an 11% increase [446]. - Program costs decreased by $2.5 million, from $36.8 million in 2023 to $34.3 million in 2024, primarily due to a significant reduction in CMO expenses [450]. Cash and Liquidity - The company had cash and cash equivalents of $71.6 million as of December 31, 2024 [427]. - Cash used in investing activities was $0.5 million for the year ended December 31, 2024, primarily for purchases of property and equipment [476]. - The company filed a universal shelf registration statement allowing for the offering of up to $250.0 million in securities, effective until May 5, 2026 [459]. - An underwritten offering in February 2024 raised net proceeds of $47.2 million from the issuance of 3,900,000 shares of common stock [461]. - As of December 31, 2024, the company had cash and cash equivalents totaling $71.6 million, with no outstanding debt [491]. - The company intends to maintain its portfolio of cash equivalents in institutional market funds composed of U.S. Treasury and U.S. Treasury-backed securities to minimize future interest rate risk [491]. Other Considerations - The company has lease commitments of $1.2 million within the next 12 months and $0.7 million for the remainder of the lease term as of December 31, 2024 [468]. - The company is obligated to pay up to $9.0 million in milestone payments under the 2021 Stanford License Agreement, with no royalties due as of December 31, 2024 [469]. - The company has not experienced material foreign currency transaction gains or losses, and a hypothetical 10% change in exchange rates would not materially affect its financial statements [492]. - Inflation has increased costs related to labor and clinical trials, but it has not had a material effect on the company's consolidated financial statements [493]. - The company is classified as a "smaller reporting company," allowing it to provide only two years of audited financial statements until certain thresholds are met, including a market value of common stock held by non-affiliates exceeding $250 million [490].

Core Viewpoint - Jasper Therapeutics, Inc. is advancing its clinical-stage antibody therapy briquilimab, targeting mast cell-driven diseases, with a significant presentation scheduled at the 2025 AAD Annual Meeting [1][2] Company Overview - Jasper Therapeutics is focused on developing briquilimab as a treatment for chronic mast cell diseases, including chronic spontaneous urticaria (CSU), chronic inducible urticaria (CIndU), and asthma [2] - Briquilimab is a targeted aglycosylated monoclonal antibody that inhibits the binding of stem cell factor to the c-Kit receptor, leading to mast cell depletion and reduced inflammation [2] Clinical Study Details - The upcoming presentation will showcase data from the Phase 1b/2a BEACON study, highlighting briquilimab's rapid and clinically meaningful reduction in disease activity in adults with CSU [2] - The presentation is scheduled for March 8, 2025, at 1 p.m. PST during the Late Breaking Research session at the AAD Annual Meeting [2]

Financial Performance - Jasper Therapeutics reported a net loss of $24.3 million for Q4 2024, compared to a net loss of $16.6 million in Q4 2023, resulting in a basic and diluted net loss per share of $1.62 and $4.89 for the year, respectively[9]. - Research and development expenses for Q4 2024 were $19.8 million, an increase from $13.8 million in Q4 2023, while total operating expenses for the year were $76.2 million, up from $68.9 million in 2023[9]. - Jasper's total operating expenses for the year included $55.8 million in research and development and $20.4 million in general and administrative expenses[9]. - Total current assets decreased from $88,938 million in December 2023 to $75,811 million in December 2024, a decline of approximately 14.8%[11]. - Cash and cash equivalents dropped from $86,887 million in December 2023 to $71,637 million in December 2024, representing a decrease of about 17.5%[11]. - Total liabilities increased from $16,452 million in December 2023 to $18,225 million in December 2024, an increase of approximately 10.7%[11]. - Current liabilities rose from $12,374 million in December 2023 to $15,237 million in December 2024, marking an increase of about 23.1%[11]. - Accumulated deficit widened from $(169,600) million in December 2023 to $(240,869) million in December 2024, reflecting a deterioration of approximately 42.0%[11]. - Total stockholders' equity decreased from $78,440 million in December 2023 to $61,674 million in December 2024, a decline of about 21.3%[11]. - Additional paid-in capital increased from $248,039 million in December 2023 to $302,541 million in December 2024, an increase of approximately 21.9%[11]. - Non-current portion of operating lease liabilities decreased from $1,814 million in December 2023 to $724 million in December 2024, a reduction of about 60.0%[11]. - Property and equipment, net declined from $2,727 million in December 2023 to $1,875 million in December 2024, a decrease of approximately 31.3%[11]. - Prepaid expenses and other current assets increased from $2,051 million in December 2023 to $4,174 million in December 2024, an increase of about 103.5%[11]. Clinical Studies and Developments - The BEACON Phase 1b/2a study showed a more than 25-point improvement in urticaria activity score (UAS7) for multiple dosing regimens of briquilimab at doses ≥120mg[3]. - In the SPOTLIGHT Phase 1b/2a study, 93% of participants achieved a clinical response within six weeks, with 83% of those in the 120mg cohort experiencing a complete response[5]. - Jasper has regulatory clearance to evaluate 240mg Q8W and a 240mg loading dose followed by 180mg Q8W in the BEACON study, with data expected mid-2025 from four cohorts[3]. - The company plans to advance briquilimab into a pivotal Phase 2b study in CSU, expected to commence in the second half of 2025[2]. - Jasper commenced an open-label extension study for chronic urticarias, with initial data from approximately 30 patients expected around mid-2025[5]. - The ETESIAN Phase 1b/2a clinical challenge study for asthma has begun, aiming to enroll approximately 30 patients across seven sites in Canada[5].

Core Viewpoint - Jasper Therapeutics is advancing its clinical-stage antibody therapy, briquilimab, targeting mast cell-driven diseases, with promising data from recent studies indicating its potential efficacy and safety profile [2][3]. Clinical Development - The BEACON study for chronic spontaneous urticaria (CSU) and the SPOTLIGHT study for chronic inducible urticaria (CIndU) have shown positive preliminary results, supporting the advancement of briquilimab into a pivotal Phase 2b study [2][3]. - In the BEACON study, multiple dosing regimens of briquilimab (≥120mg) demonstrated over 25 points improvement in weekly urticaria activity score (UAS7), with clinical responses observed as early as one week post-administration [3]. - The SPOTLIGHT study reported that 93% of participants achieved a clinical response within six weeks, with 83% in the 120mg cohort experiencing a complete response [3]. Financial Performance - For the fiscal year ended December 31, 2024, Jasper reported a net loss of $71.3 million, with a basic and diluted net loss per share of $4.89 [7][10]. - Research and development expenses for the year were $55.8 million, while general and administrative expenses totaled $20.4 million [7][10]. - As of December 31, 2024, the company had cash and cash equivalents of $71.6 million [7][12]. Future Expectations - Jasper plans to commence a Phase 2b operationally adaptive study for briquilimab in CSU in the second half of 2025, with additional data expected from ongoing studies [3][7]. - The company is also conducting an open-label extension study for chronic urticarias and has initiated the ETESIAN Phase 1b/2a clinical challenge study for asthma, with initial data expected in the second half of 2025 [7][8].

Core Insights - Jasper Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing briquilimab, an antibody therapy targeting c-Kit (CD117) for mast cell driven diseases such as chronic spontaneous urticaria (CSU), chronic inducible urticaria (CIndU), and asthma [1][3] Conference Participation - Jasper will participate in the TD Cowen 45th Annual Healthcare Conference from March 3-5, 2025, with a presentation scheduled for March 3 at 1:20 p.m. EST [2] - The company will also present at the Barclays 27th Annual Global Healthcare Conference from March 11-13, 2025 [2] - Additionally, Jasper will take part in the H.C. Wainwright 3rd Annual Autoimmune & Inflammatory Disease Virtual Conference on March 27, 2025, at 12:30 p.m. EST [2] Product Development - Briquilimab is a targeted aglycosylated monoclonal antibody that inhibits the binding of stem cell factor to the c-Kit receptor, leading to mast cell depletion via apoptosis, which addresses the inflammatory response in mast cell driven diseases [3] - The therapy has shown efficacy and safety in clinical studies involving patients and healthy volunteers, with positive outcomes reported in CSU and CIndU [3]