Financial Data and Key Metrics Changes - Jasper Therapeutics is a clinical stage biotech company with a focus on briquelimab, a monoclonal antibody targeting KIT on mast cells, currently conducting multiple clinical trials in urticarias [2][3] - The company reported a favorable safety profile for briquelimab, with all KIT related adverse events being mild, transient, and self-resolving before the next dose [28] Business Line Data and Key Metrics Changes - The BEACON study for chronic spontaneous urticaria (CSU) showed that at a dose of 180 mg every eight weeks, 73% of patients achieved a complete response, and 82% had well-controlled disease [26][29] - The study indicated that the optimal dosing schedule for briquelimab is every eight weeks, with significant clinical relief observed within two weeks [13][26] Market Data and Key Metrics Changes - The competitive landscape includes small molecule approaches that only inhibit mast cells, whereas briquelimab depletes them, providing a superior clinical benefit [8][29] - Compared to Barzolumab, briquelimab demonstrated more than a double-digit improvement in complete response rates at 12 weeks [29] Company Strategy and Development Direction - The company aims to select doses for a Phase IIb study based on the totality of data from ongoing studies, with a focus on maintaining a favorable safety and efficacy profile [43] - Future data presentations are planned, including results from the open-label extension study and the asthma study, to further validate the drug's effectiveness [39][41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for a deeper response and rapid response with higher doses, indicating a strategic approach to dosing regimens [26][43] - The company is investigating the reasons behind confounding results in specific cohorts and is committed to ensuring the integrity of the drug administration process [31][41] Other Important Information - The company is currently redosing patients from cohorts with compromised drug lots and enrolling new patients to gather more data [33][39] - Management emphasized that there is no evidence of compromise in the drug substance or product from their manufacturing facility [41] Q&A Session Summary Question: What are the key value-creating accomplishments for Jasper in the next year? - Management highlighted the importance of generating significant data to address existing questions and selecting doses for the Phase IIb study [43] Question: What is the rationale behind allowing patients a drug holiday? - The original design aimed to assess how long it would take for the disease to return after stopping briquelimab, ensuring patients had moderate to severe disease before re-dosing [22] Question: How does briquelimab compare to Barzolumab in terms of efficacy and safety? - Briquelimab showed a complete response rate of 73% at 12 weeks, significantly outperforming Barzolumab's rates, while also maintaining a favorable safety profile [29]

Summary of Celldex Therapeutics (CLDX) Conference Call Company Overview - **Company**: Celldex Therapeutics (CLDX) - **Focus**: Development of Barzolumab for chronic spontaneous urticaria (CSU) Key Industry Insights - **Industry**: Biopharmaceuticals, specifically targeting chronic spontaneous urticaria (CSU) - **Current Treatment Landscape**: Existing treatments are inadequate for many patients, highlighting the need for new options Core Findings from the Conference Call 1. **Barzolumab Phase II Study Results**: - Barzolumab shows the highest reported complete response rate in CSU treatment at every time point [7][12][30] - Complete response rates reached 51% at 12 weeks and 71% at 52 weeks, with 41% maintaining a complete response at 76 weeks post-treatment [30][31] - 93% of patients experienced a clinically meaningful reduction in disease burden during the active treatment period [12] 2. **Patient Quality of Life**: - 92% of patients report CSU impacts all aspects of their daily lives, with significant correlations between complete response and improved quality of life [11][36] - 48% of patients reported no impact on their daily quality of life seven months after treatment [35] 3. **Safety Profile**: - Barzolumab has a well-tolerated safety profile with no new safety signals identified during the follow-up period [20][28] - Common adverse events include mild decreases in neutrophil counts and subtle pigmentation changes, which are reversible [21][24] 4. **Market Potential**: - The drug is positioned as a potential first-line treatment for patients with antihistamine-refractory moderate to severe CSU [39] - High excitement among physicians regarding Barzolumab's efficacy and safety profile, which may influence treatment decisions [39] 5. **Ongoing Research and Development**: - Phase III studies are underway, with enrollment expected to complete by summer 2026 [39] - The company is focused on confirming the efficacy and safety of Barzolumab in larger patient populations [39] Additional Important Insights - **Patient Demographics**: The study included patients with severe CSU, with 70% having a UAS7 score greater than 28 at baseline [17] - **Long-term Efficacy**: The sustained response after treatment cessation suggests potential normalization of mast cell activity in patients [44] - **Physician Perspectives**: Physicians are optimistic about the potential for Barzolumab to change treatment paradigms for CSU, particularly for patients who have not responded to existing therapies [42][46] Conclusion - Celldex Therapeutics is making significant strides in the treatment of chronic spontaneous urticaria with Barzolumab, demonstrating promising efficacy and safety data that could redefine treatment standards in this area. The ongoing Phase III studies will be crucial in validating these findings and expanding treatment options for patients suffering from this debilitating condition.