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]

Core Insights - Jasper Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing briquilimab, a novel antibody therapy targeting c-Kit (CD117) for mast cell driven diseases such as chronic spontaneous urticaria (CSU), chronic inducible urticaria (CIndU), and asthma [1][4] Presentation Details - Jasper will present five posters and one oral presentation of briquilimab data at the AAAAI 2025 Annual Meeting from February 28 to March 3, 2025, in San Diego, CA [1] - The oral presentation titled "Initial Results from BEACON, a Phase 1b/2a Dose Escalation Study of the anti-c-Kit Briquilimab Antibody in Adults with Chronic Spontaneous Urticaria (CSU)" is scheduled for March 1, 2025, at 2:55 p.m. PST [2] - Additional poster presentations will cover various aspects of briquilimab's effects, including its ability to induce mast cell depletion and inhibit SCF/c-Kit signaling [2] Mechanism of Action - Briquilimab is an aglycosylated monoclonal antibody that blocks stem cell factor from binding to c-Kit, disrupting survival signals and leading to mast cell depletion through apoptosis [3][4] - This mechanism addresses the underlying inflammatory response in mast cell driven diseases, potentially offering therapeutic benefits for patients with CSU, CIndU, and asthma [4]

Company Overview - Jasper Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing briquilimab, a novel 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] - Briquilimab is an aglycosylated monoclonal antibody that inhibits the binding of stem cell factor to c-Kit, leading to the depletion of mast cells and addressing the inflammatory response in these diseases [3] Clinical Development - Jasper is currently conducting clinical studies of briquilimab for patients with CSU, CIndU, and asthma, demonstrating efficacy and safety in previous trials [3] - Positive clinical outcomes have been reported for briquilimab in treating CSU and CIndU [3] Upcoming Events - Jasper's management will present at the Oppenheimer Healthcare Life Sciences Conference on February 11, 2025, at 3:20 p.m. EST, in a fireside chat format [2] - A live webcast of the presentation will be available on Jasper's Investor Relations website, with an archived replay accessible for 30 days post-event [2]

Core Insights - Jasper Therapeutics reported positive preliminary data from the BEACON Phase 1b/2a study of briquilimab, showing rapid and durable clinical responses in patients with chronic spontaneous urticaria (CSU) [2][3][17] - The study demonstrated significant reductions in Urticaria Activity Score over 7 days (UAS7), with a mean change of -26.6 in the 240mg single-dose cohort at 8 weeks [2][6][8] - The company plans to initiate a registrational program for briquilimab in CSU, with a Phase 2b study expected to start in the second half of 2025 [16][17] Study Results - In the BEACON study, 100% of patients in the 240mg single-dose cohort achieved complete responses (UAS7 = 0) at 8 weeks, with 66% maintaining well-controlled disease at 12 weeks [2][6][8] - Multiple dosing regimens at or above 120mg showed UAS7 changes of more than -25 points, indicating substantial clinical activity [2][6][10] - Serum tryptase levels were significantly reduced, with 100% of participants in the 240mg cohort achieving levels below the lower limit of quantification by week 1 [13][14] Safety Profile - Briquilimab was well tolerated, with no dose-limiting toxicities reported and only low-grade adverse events observed [14] - Predictable decreases in neutrophil counts were noted, which generally recovered before subsequent doses [14] Future Plans - Jasper is conducting an open-label extension study for patients transitioning from the BEACON study to a 180mg Q8W dose [15] - The company has submitted for regulatory review of additional BEACON cohorts, including 240mg Q8W and 180mg Q8W following a 240mg induction dose [15][16] - Data from additional cohorts are expected to be presented by mid-2025, further informing the registrational program [16]

Core Viewpoint - Jasper Therapeutics, Inc. is hosting a virtual webinar on January 8, 2025, to present preliminary data from the BEACON study of briquilimab, a novel antibody therapy targeting c-Kit for mast cell driven diseases [1][2] Company Overview - Jasper Therapeutics is a clinical-stage biotechnology company 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 an aglycosylated monoclonal antibody that inhibits the binding of stem cell factor to the c-Kit receptor, leading to mast cell depletion and reduction of inflammatory responses [2] - The company has reported positive clinical outcomes for briquilimab in CIndU and is currently conducting clinical studies for its efficacy in CSU, CIndU, and asthma [2] Upcoming Event - The webinar will feature management presentations and remarks from Dr. Thomas B. Casale, a leading investigator in the BEACON study [1]

Core Insights - Jasper Therapeutics has initiated dosing in its Phase 1b/2a clinical study, ETESIAN, to evaluate briquilimab for allergic asthma, marking a significant milestone in its clinical programs targeting mast cell-driven diseases [1][2] Company Overview - Jasper Therapeutics is a clinical-stage biotechnology company focused on developing briquilimab, a monoclonal antibody targeting c-Kit (CD117) for chronic mast and stem cell diseases, including chronic urticaria and asthma [5] - Briquilimab has shown efficacy and safety in over 160 participants and healthy volunteers, with clinical outcomes in chronic inducible urticaria (CIndU) and as a conditioning agent in various severe conditions [4][5] Clinical Study Details - The ETESIAN study aims to enroll approximately 30 patients across 7 sites in Canada, utilizing a single 180mg subcutaneous dose of briquilimab [2] - Key objectives include demonstrating proof-of-concept in asthma, assessing early and late asthmatic responses, airway hyperresponsiveness, mast cell depletion, and safety [2][4] Mechanism of Action - Briquilimab functions as a targeted aglycosylated monoclonal antibody that inhibits the binding of stem cell factor to c-Kit, leading to mast cell depletion and potentially alleviating inflammatory responses in mast cell-driven diseases [4][5] - The mechanism of mast cell depletion via c-Kit inhibition is considered novel and may address safety issues seen with other c-Kit inhibitors [3]