Jasper Therapeutics(JSPR) - 2024 Q4 - Annual Results

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].