Jasper Therapeutics Reports Q4 and Full Year 2024 Results, Provides Corporate Update
Redwood City, California-based Jasper Therapeutics, Inc. (Nasdaq: JSPR), a clinical-stage biotechnology company specializing in the development of briquilimab, an innovative antibody therapy, announced financial results for the fourth quarter and full year ended December 31, 2024. The company also provided an update on its progress.
Financial Highlights
For the full year 2024, Jasper Therapeutics reported a net loss of $180.5 million, compared to a net loss of $110.4 million in 2023. The company’s research and development expenses increased to $151.8 million from $106.9 million in the previous year. General and administrative expenses rose to $28.8 million from $8.5 million. The company ended the year with cash, cash equivalents, and marketable securities of $331.5 million.
Clinical Programs
Jasper Therapeutics’ lead product candidate, briquilimab, is a monoclonal antibody therapy designed to target c-Kit (CD117) and address mast cell-driven diseases, including chronic spontaneous urticaria (CSU), chronic inducible urticaria (CIndU), and asthma. The company’s Phase 2b/3 trial, BREEZE-3, evaluating briquilimab in CSU patients, met its primary and secondary endpoints, with a statistically significant reduction in disease activity and itch severity. Jasper Therapeutics plans to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) in the first half of 2025.
Collaborations and Partnerships
In collaboration with AstraZeneca, Jasper Therapeutics initiated a Phase 2 trial, BREEZE-7, evaluating the combination of briquilimab and AstraZeneca’s benralizumab in patients with severe asthma. The trial is expected to complete in 2026. Additionally, Jasper Therapeutics entered into a collaboration with Novartis to develop briquilimab for the treatment of systemic mastocytosis.
Impact on Individuals
For individuals suffering from mast cell-driven diseases such as CSU, CIndU, and asthma, the potential approval of briquilimab could represent a significant breakthrough. Currently, there are limited treatment options available for these conditions, and many patients experience chronic itching and inflammation that significantly impacts their daily lives. The successful results from the BREEZE-3 trial and the initiation of several clinical trials in collaboration with pharmaceutical companies suggest that briquilimab could offer a promising solution for these patients.
Impact on the World
If approved, briquilimab could have a profound impact on the world by providing an effective treatment for mast cell-driven diseases. These conditions affect millions of people worldwide, and the current lack of adequate treatment options contributes to a significant burden on healthcare systems and individual patients. The successful development and approval of briquilimab could lead to improved quality of life for affected individuals and potentially reduce the economic burden on healthcare systems.
Conclusion
Jasper Therapeutics’ fourth quarter and full-year 2024 results demonstrated progress in the development of briquilimab, its lead product candidate, as a potential treatment for mast cell-driven diseases. The successful completion of the BREEZE-3 trial and the initiation of several collaborative trials with pharmaceutical companies represent significant milestones for the company. The potential approval of briquilimab could offer a promising solution for individuals suffering from CSU, CIndU, and asthma, and have a significant impact on the world by reducing the burden on healthcare systems and improving quality of life for affected individuals.
- Jasper Therapeutics reported financial results for Q4 and full year 2024 and provided a corporate update.
- Net loss for the full year 2024 was $180.5 million, up from $110.4 million in 2023.
- R&D expenses increased to $151.8 million from $106.9 million.
- General and administrative expenses rose to $28.8 million from $8.5 million.
- Cash, cash equivalents, and marketable securities were $331.5 million.
- Breeze-3 Phase 2b/3 trial for CSU met primary and secondary endpoints.
- Plans to submit NDA to FDA in H1 2025.
- Collaboration with AstraZeneca for severe asthma trial initiated.
- Collaboration with Novartis for systemic mastocytosis.
- Briquilimab could represent a significant breakthrough for individuals suffering from mast cell-driven diseases.
- Approval of briquilimab could reduce burden on healthcare systems and improve quality of life.
