Jasper Therapeutics Reports Fourth Quarter and Year-End 2025 Financial Results and Provides Corporate Update

Core Viewpoint - Jasper Therapeutics is advancing its clinical-stage antibody therapy, briquilimab, targeting mast cell-driven diseases, with promising data from recent studies and plans for further clinical trials in chronic spontaneous urticaria (CSU) and asthma [1][2]. Financial Results - For the fourth quarter of fiscal 2025, Jasper reported a net loss of $9.1 million, with a basic and diluted net loss per share of $0.32 [5][10]. - Total operating expenses for the quarter were $15.8 million, which included $11.4 million in research and development and $4.5 million in general and administrative expenses [5][10]. - Cash and cash equivalents as of December 31, 2025, totaled $28.7 million, a decrease from $71.6 million in the previous year [10]. Clinical Development Updates - Briquilimab has shown a 67% complete response rate in additional patients from the BEACON study at 12 weeks, with a mean UAS7 reduction of 31 points [5]. - In the open-label extension study, 75% of CSU participants achieved a complete response or well-controlled disease at 12 weeks [5]. - The company is finalizing dose selection for the Phase 2b portion of its planned Phase 2b/3 study in CSU, with patient enrollment expected to begin in the second half of 2026, pending capital availability [2][5]. Recent Investigations - Jasper completed an internal investigation into the lack of clinical response observed in previous BEACON data, confirming no issues with the drug product and providing recommendations for future studies [5]. - The investigation included a comprehensive review of manufacturing records, patient medical histories, and pharmacokinetics data [5]. Future Prospects - Preliminary data from the ETESIAN study indicated reductions in airway hyperresponsiveness and eosinophilic response after a single 180mg dose of briquilimab, supporting further development in asthma [5]. - Future clinical studies in asthma will depend on the competitive landscape, potential strategic partnerships, and capital availability [5].