Jasper Therapeutics(US:JSPR) Globenewswire·2025-09-24 05:00Core Viewpoint - A class action lawsuit has been filed against Jasper Therapeutics, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from November 30, 2023, to July 3, 2025, seeking damages for affected investors [1][2]. Company Overview - Jasper Therapeutics is a clinical-stage biotechnology company focused on developing therapeutics for mast cell-driven diseases, including Chronic Spontaneous Urticaria (CSU), Chronic Inducible Urticaria (CIndU), and Asthma [4]. - The lead product candidate, briquilimab, is a monoclonal antibody aimed at blocking the stem cell factor (SCF) from binding to the CD117 (c-Kit) receptor, which is believed to deplete mast cells and provide clinical benefits for patients [4]. Financial Developments - In 2024, Jasper completed an oversubscribed financing round of $50 million to strengthen its balance sheet and support briquilimab's development, extending its cash runway through the third quarter of 2025 [4]. - Following a press release on July 7, 2025, Jasper's stock price fell by $3.73 per share, or 55.1%, closing at $3.04 per share due to issues related to a drug product lot used in clinical studies [8]. Clinical Trials and Issues - Jasper commenced a Phase 1b/2a clinical study for CSU (BEACON Study) in November 2023 and another for allergic asthma (ETESIAN Study) in December 2024 [4]. - On July 7, 2025, Jasper reported that results from the BEACON Study were confounded by issues with a specific drug product lot, leading to the halting of the ETESIAN Study and a pause in asthma development [8]. Management and Operational Changes - On July 9, 2025, Jasper announced a corporate reorganization, reducing its workforce by approximately 50% and halting other clinical and preclinical programs to focus on briquilimab in chronic urticaria [10]. - The Chief Medical Officer, Edwin Tucker, is set to depart from his role effective August 1, 2025 [10]. Legal Allegations - The lawsuit alleges that Jasper's executives made materially false and misleading statements regarding the company's operations and compliance with manufacturing regulations, which increased risks to the company's financial and clinical prospects [6][7].