REDWOOD CITY, Calif., May 07, 2024 (GLOBE NEWSWIRE) -- Jasper Therapeutics, Inc. (NASDAQ:JSPR) (Jasper), a biotechnology company focused on development of briquilimab, a novel antibody therapy targeting c-Kit (CD117) to address mast cell driven diseases such as chronic spontaneous urticaria (CSU) and chronic inducible urticaria (CIndU), today announced that its management will present at the following upcoming investor conferences in May: Capital One Securities Biotech/Biopharma Disruptors EventConference D ...

REDWOOD CITY, Calif., May 07, 2024 (GLOBE NEWSWIRE) -- Jasper Therapeutics, Inc. (Nasdaq: JSPR) (Jasper), a biotechnology company focused on development of briquilimab, a novel antibody therapy targeting c-Kit (CD117) to address mast cell driven diseases such as chronic spontaneous urticaria (CSU) and chronic inducible urticaria (CIndU), today announced that its management will present at the following upcoming investor conferences in May: Capital One Securities Biotech/Biopharma Disruptors EventConference ...

Investors might want to bet on Jasper Therapeutics, Inc. (JSPR) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 84-298 ...

About Briquilimab Exhibit 99.1 Jasper Therapeutics Reports Fiscal 2023 Financial Results and Recent Corporate Developments REDWOOD CITY, Calif., March 4, 2024 – Jasper Therapeutics, Inc. (Nasdaq: JSPR) (Jasper), a biotechnology company focused on development of briquilimab, a novel antibody therapy targeting c-Kit (CD117) in mast cell driven diseases such as chronic spontaneous urticaria (CSU) and chronic inducible urticaria (CIndU), today announced results for the fiscal quarter and year ended December 31, ...

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 September 30, 2023 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 | 84-2984849 | | --- | --- ...

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 June 30, 2023 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) (State or other jurisdiction of incorporat ...

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, 2023 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 | 84-2984849 | | --- | --- | | ...

Safe Harbor Statements Certain data in this Presentation was obtained from various external sources, and neither the Company nor its affiliates, advisers or representatives has verified such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or representatives makes any representations as to the accuracy or completeness of that data or undertakes any obligation to update such data after the date of this Presentation. Such data involves risks and uncertainties ...

PART I [Business](index=6&type=section&id=Item%201.%20Business) Jasper Therapeutics is a clinical-stage biotechnology company focused on developing therapeutics for mast and hematopoietic stem cell diseases - The company's lead product candidate is **briquilimab**, a monoclonal antibody targeting the CD117 receptor on mast and stem cells, being developed for therapeutic use in CSU and LR-MDS, and as a conditioning agent for stem cell transplants in diseases like SCID, AML/MDS, and SCD[31](index=31&type=chunk) - Jasper is also developing an **mRNA stem cell platform** designed to reprogram stem cells to have a transient proliferative and survival advantage, potentially enabling higher engraftment levels without toxic conditioning[40](index=40&type=chunk)[54](index=54&type=chunk) - The company holds exclusive worldwide license agreements with Amgen for the development and commercialization of briquilimab and with Stanford University for its use in stem cell clearance prior to transplantation[42](index=42&type=chunk) Briquilimab Development Pipeline & Anticipated Milestones | Indication/Program | Stage | Anticipated Milestones | | :--- | :--- | :--- | | **Therapeutic Development** | | | | Lower to Intermediate Risk MDS | Clinical | 1H 2023 clinical study initiation | | Chronic Urticaria | Clinical | 2H 2023 clinical study initiation | | **Transplant Development** | | | | AML/MDS | Clinical | 1Q 2023 1-year AML clinical data presentation | | Severe Combined Immunodeficiency | Clinical | Prepare for BLA submission | | Fanconi Anemia | Clinical | 2023 patient enrollment ongoing | | Sickle Cell Disease | Clinical | 2023 patient enrollment ongoing | | **Jasper mRNA Stem Cell Graft Platform** | | | | Thalassemias, Sickle Cell Disease | Preclinical | 2024 first IND filing | Our Product Pipeline The pipeline is centered on briquilimab and an mRNA stem cell platform, with briquilimab in clinical trials for mast cell and stem cell disorders, and the mRNA platform in preclinical development - Briquilimab is being developed as a chronic therapy for CSU and LR-MDS, with IND filing for CSU planned for **Q2 2023** and a study in LR-MDS patients anticipated to begin in **1H 2023**[48](index=48&type=chunk)[53](index=53&type=chunk) - In a Phase 1/2 trial for SCID, briquilimab conditioning enabled donor engraftment and immune improvement in **7 out of 10 re-transplant patients**, with no treatment-related SAEs reported[36](index=36&type=chunk)[93](index=93&type=chunk) - In a Phase 1 trial for AML/MDS, briquilimab-based conditioning was well-tolerated in **31 patients**, led to successful engraftment in all, and resulted in **67% of AML patients** being alive and MRD-free at one year[38](index=38&type=chunk)[107](index=107&type=chunk) - The mRNA stem cell platform is in preclinical development, with initial in-vitro results showing potential for enhanced stem cell proliferation and engraftment. The first IND filing is anticipated in **2024**[31](index=31&type=chunk)[119](index=119&type=chunk)[123](index=123&type=chunk) Intellectual Property Jasper's intellectual property strategy relies on in-licensed patents from Amgen and Stanford, and its own patent filings, primarily covering briquilimab and hematopoietic stem cell transplantation - The company has exclusively licensed a patent portfolio from Amgen for its humanized c-kit antibody, with issued U.S. and European patents expected to expire in **2027**[135](index=135&type=chunk) - An exclusive license from Stanford University covers the use of briquilimab for depleting stem cells prior to transplantation, with patents also expected to expire in **2027**[136](index=136&type=chunk) - Jasper owns eleven patent families related to hematopoietic stem cell transplantation, which include ten U.S. provisional applications, one U.S. utility application, and three PCT applications. Any patents granted from these would be expected to expire in **2042 or 2044**[137](index=137&type=chunk) Competition Jasper faces intense competition in the biotechnology sector for its briquilimab CD117 program and its mRNA-modified stem cell therapy platform from various pharmaceutical and biotech companies - Competitors for the briquilimab program include Celldex, Acelyrin, and Gilead, which are also developing antibodies targeting CD117 for mast cell diseases or stem cell transplants[143](index=143&type=chunk) - Competitors for the mRNA-modified stem cell therapy program include Vor Biopharma, Sana Biotechnology, and Orca Bio, which are developing treatment-resistant, hypoimmune, or precision allogeneic cell therapies[143](index=143&type=chunk) Government Regulation The company's product candidates are regulated as biologics in the U.S. and EU, requiring extensive preclinical and clinical development, regulatory approvals, and post-market compliance - In the U.S., product candidates are regulated as biologics and require a Biologics License Application (BLA) for marketing approval, following successful preclinical and multi-phase clinical trials[148](index=148&type=chunk)[150](index=150&type=chunk) - The FDA provides several expedited review programs, including Fast Track, Breakthrough Therapy, Priority Review, and Regenerative Advanced Therapy (RMAT), to accelerate the development and approval of drugs for serious conditions[168](index=168&type=chunk)[173](index=173&type=chunk) - In the European Union, marketing authorization requires submitting a Marketing Authorization Application (MAA) through a centralized procedure administered by the EMA, which is compulsory for certain biologics and innovative products[184](index=184&type=chunk)[185](index=185&type=chunk) - Sales of approved products depend on coverage and reimbursement from third-party payors like Medicare, Medicaid, and commercial insurers, who are increasingly focused on cost-containment and cost-effectiveness[188](index=188&type=chunk)[190](index=190&type=chunk) [Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) The company faces substantial risks, including a history of significant net losses, dependence on its lead candidate and novel platform, reliance on third parties, and stock price volatility - The company has a history of significant net losses (**$37.7 million in 2022**) and expects to incur losses for the foreseeable future, requiring substantial additional funding to continue operations[210](index=210&type=chunk) - Business success is substantially dependent on the lead product candidate, briquilimab. Failure to complete development, obtain approval, or commercialize it would severely harm the business[208](index=208&type=chunk)[237](index=237&type=chunk) - The mRNA stem cell platform is a novel, unproven technology that is not yet clinically validated and may never lead to marketable products[208](index=208&type=chunk)[245](index=245&type=chunk) - The company relies on a single manufacturer (Lonza) for the clinical supply of its product candidates and is highly dependent on intellectual property licensed from third parties like Amgen and Stanford[209](index=209&type=chunk)[335](index=335&type=chunk)[350](index=350&type=chunk) - The company faces risks related to its stock, including price volatility, potential delisting from Nasdaq if minimum bid price requirements are not maintained, and significant dilution from future equity sales[209](index=209&type=chunk)[460](index=460&type=chunk)[467](index=467&type=chunk) [Unresolved Staff Comments](index=97&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports that it has no unresolved staff comments from the SEC - There are no unresolved staff comments[496](index=496&type=chunk) [Properties](index=97&type=section&id=Item%202.%20Properties) The company leases approximately 13,400 square feet for its headquarters in Redwood City, California, with the current lease expiring in August 2026 - The company leases approximately **13,400 square feet** of headquarters space in Redwood City, California[497](index=497&type=chunk) - The current lease expires in **August 2026**, with a five-year extension option[497](index=497&type=chunk) [Legal Proceedings](index=97&type=section&id=Item%203.%20Legal%20Proceedings) As of the report date, Jasper Therapeutics is not a party to any material legal proceedings - The company is not currently a party to any material legal proceedings[498](index=498&type=chunk) [Mine Safety Disclosures](index=97&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[499](index=499&type=chunk) PART II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=98&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock and public warrants are listed on Nasdaq, with no dividends declared or anticipated, as earnings will be retained for business growth - Common stock and Public Warrants are listed on the Nasdaq Capital Market under symbols **"JSPR"** and **"JSPRW"**[502](index=502&type=chunk) - The company has never paid dividends and does not plan to in the foreseeable future, retaining earnings for business growth[504](index=504&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=99&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Jasper Therapeutics reported a net loss of **$37,685 thousand** in 2022, driven by increased R&D and G&A expenses, but bolstered its cash position with a **$101,400 thousand** financing in January 2023 Financial Performance Summary (FY 2022 vs. FY 2021) | Metric | FY 2022 | FY 2021 | | :--- | :--- | :--- | | **Net Loss** | ($37,685 thousand) | ($30,637 thousand) | | **Research & Development Expenses** | $34,627 thousand | $25,421 thousand | | **General & Administrative Expenses** | $16,569 thousand | $11,412 thousand | | **Cash Used in Operations** | ($45,858 thousand) | ($33,678 thousand) | | **Cash & Cash Equivalents (Year-End)** | $38,250 thousand | $84,701 thousand | | **Accumulated Deficit (Year-End)** | ($105,100 thousand) | ($67,500 thousand) | - The increase in R&D expenses was driven by higher personnel-related costs (**+$3.0 million**), facilities/overhead (**+$3.4 million**), and consulting costs (**+$1.4 million**), partially offset by a decrease in CRO/CMO expenses (**-$1.5 million**)[543](index=543&type=chunk)[544](index=544&type=chunk)[545](index=545&type=chunk) - The increase in G&A expenses was due to higher employee payroll and stock-based compensation (**+$2.9 million**) and increased professional services costs (**+$1.9 million**) to support operations as a public company[546](index=546&type=chunk) - In January 2023, the company raised total estimated net proceeds of **$101.4 million** from a public offering and its ATM program, which is expected to fund the operating plan for at least the next 12 months[518](index=518&type=chunk) Results of Operations For the year ended December 31, 2022, the company's net loss increased to **$37.7 million** due to a **$14.4 million** rise in total operating expenses, partially offset by increased other income Comparison of Operating Results (in thousands) | Line Item | Year Ended Dec 31, 2022 | Year Ended Dec 31, 2021 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Research and development | $34,627 | $25,421 | $9,206 | 36% | | General and administrative | $16,569 | $11,412 | $5,157 | 45% | | **Total operating expenses** | **$51,196** | **$36,833** | **$14,363** | **39%** | | Loss from operations | ($51,196) | ($36,833) | ($14,363) | 39% | | Total other income, net | $13,511 | $6,196 | $7,315 | 118% | | **Net loss** | **($37,685)** | **($30,637)** | **($7,048)** | **23%** | - The **$9.2 million** increase in R&D expenses was primarily due to a **$6.4 million** rise in internal costs (personnel and facilities) and a **$2.8 million** increase in external costs (consulting and supplies), despite a **$1.5 million** decrease in CRO/CMO spending[542](index=542&type=chunk)[543](index=543&type=chunk)[544](index=544&type=chunk) - The **$7.3 million** increase in total other income was mainly driven by a **$6.7 million** larger gain on the change in fair value of the common stock warrant liability compared to the prior year[541](index=541&type=chunk)[547](index=547&type=chunk) Liquidity and Capital Resources As of December 31, 2022, the company had **$38.3 million** in cash, and subsequently raised **$101.4 million** in January 2023, which is deemed sufficient for the next twelve months of operations - The company held **$38.3 million** in cash and cash equivalents as of December 31, 2022[551](index=551&type=chunk) - In January 2023, the company raised approximately **$96.9 million** in net proceeds from an underwritten public offering and **$4.5 million** from its ATM offering[553](index=553&type=chunk)[554](index=554&type=chunk) - Management concluded that existing cash plus the January 2023 financing proceeds are sufficient to fund the operating plan for at least **twelve months** from the filing date of this report[518](index=518&type=chunk)[557](index=557&type=chunk) Cash Flow Summary (in thousands) | Cash Flow Activity | Year Ended Dec 31, 2022 | Year Ended Dec 31, 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | $(45,858) | $(33,678) | | Net cash used in investing activities | $(576) | $(2,428) | | Net cash provided by financing activities | $55 | $100,969 | | **Net (decrease) increase in cash** | **$(46,379)** | **$64,863** | [Quantitative and Qualitative Disclosures About Market Risk](index=114&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risks are primarily interest rate risk on its cash holdings and foreign currency exchange risk, neither of which has been material to date - The company's primary market risk is interest rate risk on its **$38.3 million** of cash and cash equivalents, but historical fluctuations have not been significant[588](index=588&type=chunk) - Foreign currency exchange risk arises from using certain vendors outside the U.S., but transaction gains and losses have not been material to date[589](index=589&type=chunk) - The company does not have a formal hedging program for foreign currency risk[589](index=589&type=chunk) [Financial Statements and Supplementary Data](index=114&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the audited consolidated financial statements for Jasper Therapeutics for fiscal years 2022 and 2021, including balance sheets, statements of operations, and cash flows Consolidated Balance Sheet Data (in thousands) | | Dec 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $38,250 | $84,701 | | Total current assets | $41,731 | $87,831 | | **Total assets** | **$48,361** | **$93,654** | | **Liabilities & Equity** | | | | Total current liabilities | $7,065 | $8,020 | | **Total liabilities** | **$12,372** | **$24,136** | | **Total stockholders' equity** | **$35,989** | **$69,518** | Consolidated Statement of Operations Data (in thousands) | | Year Ended Dec 31, 2022 | Year Ended Dec 31, 2021 | | :--- | :--- | :--- | | Research and development | $34,627 | $25,421 | | General and administrative | $16,569 | $11,412 | | **Loss from operations** | **($51,196)** | **($36,833)** | | **Net loss** | **($37,685)** | **($30,637)** | | Net loss per share | ($1.03) | ($2.69) | [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=147&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[746](index=746&type=chunk) [Controls and Procedures](index=147&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal control over financial reporting were effective as of December 31, 2022 - Management concluded that disclosure controls and procedures were effective as of December 31, 2022[748](index=748&type=chunk) - Management concluded that internal control over financial reporting was effective as of December 31, 2022[750](index=750&type=chunk) - No material changes were made to internal control over financial reporting during the quarter ended December 31, 2022[751](index=751&type=chunk) [Other Information](index=147&type=section&id=Item%209B.%20Other%20Information) The company reports no other information for this item - None[752](index=752&type=chunk) PART III [Directors, Executive Officers and Corporate Governance](index=148&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information regarding directors, executive officers, and corporate governance will be incorporated by reference from the upcoming 2023 Proxy Statement - Information is incorporated by reference from the upcoming 2023 Proxy Statement[756](index=756&type=chunk) [Executive Compensation](index=148&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive compensation will be incorporated by reference from the upcoming 2023 Proxy Statement - Information is incorporated by reference from the upcoming 2023 Proxy Statement[757](index=757&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=148&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding security ownership will be incorporated by reference from the upcoming 2023 Proxy Statement - Information is incorporated by reference from the upcoming 2023 Proxy Statement[758](index=758&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=148&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information regarding related party transactions and director independence will be incorporated by reference from the upcoming 2023 Proxy Statement - Information is incorporated by reference from the upcoming 2023 Proxy Statement[759](index=759&type=chunk) PART IV [Principal Accountant Fees and Services](index=149&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information regarding principal accountant fees and services will be incorporated by reference from the upcoming 2023 Proxy Statement - Information is incorporated by reference from the upcoming 2023 Proxy Statement[761](index=761&type=chunk) [Exhibits, Financial Statement Schedules](index=149&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists the financial statements and exhibits filed with or incorporated by reference into the Form 10-K, including material agreements - The financial statements are listed in the Index to Financial Statements in Part II, Item 8[762](index=762&type=chunk) - A comprehensive list of exhibits filed with the report is provided, including material agreements such as the Business Combination Agreement, license agreements with Amgen and Stanford, and equity incentive plans[765](index=765&type=chunk) [Form 10-K Summary](index=152&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company reports no Form 10-K summary for this item - None[769](index=769&type=chunk)