Jasper Therapeutics Raises $30 Million Through Public Offering at $2.43 Per Share
Jasper Therapeutics, a biopharmaceutical company focused on developing innovative therapies for the treatment of mast cell-driven diseases, announced that it has raised $30 million through a public offering of its common stock. The offering, which was priced at $2.43 per share, is expected to support the company’s continued development of its lead candidate, briquilimab, an antibody therapy targeting KIT for the treatment of various mast cell-driven diseases.
Details of the Public Offering
The public offering, which was underwritten by a syndicate of investment banks, consisted of approximately 12.3 million shares of Jasper Therapeutics’ common stock. The company’s stock has been listed on the Nasdaq Stock Market under the ticker symbol “JASP” since its initial public offering in 2021.
The net proceeds from the offering are expected to be approximately $27.6 million, after deducting underwriting discounts and other offering expenses. Jasper Therapeutics plans to use the net proceeds for continued development of briquilimab, including ongoing clinical trials and research and development activities.
Briquilimab: A Promising Therapy for Mast Cell-Driven Diseases
Briquilimab is a monoclonal antibody that targets the KIT receptor, a protein that plays a critical role in the development and function of mast cells. Mast cells are a type of immune system cell that can contribute to a range of diseases, including chronic urticaria, mastocytosis, and anaphylaxis.
Jasper Therapeutics’ lead candidate, briquilimab, has shown promise in early-stage clinical trials for the treatment of various mast cell-driven diseases. The company’s therapy works by selectively targeting and inhibiting the KIT receptor, which can help to reduce mast cell activation and alleviate symptoms associated with these diseases.
Potential Benefits of Briquilimab
The potential benefits of briquilimab include:
- Improved symptom control: By targeting the KIT receptor, briquilimab may help to reduce mast cell activation and alleviate symptoms associated with mast cell-driven diseases.
- Increased quality of life: By providing effective symptom control, briquilimab may help patients with mast cell-driven diseases to experience an improved quality of life.
- Potential for combination therapy: Briquilimab may be used in combination with other therapies to treat mast cell-driven diseases, providing patients with more treatment options.
Future Plans and Outlook
Jasper Therapeutics plans to continue developing briquilimab as a treatment for mast cell-driven diseases. The company is currently conducting clinical trials to evaluate the safety and efficacy of its therapy, and plans to use the net proceeds from the public offering to support these efforts.
The company’s management team is optimistic about the potential for briquilimab to address the needs of patients with mast cell-driven diseases. In a statement, the company’s CEO noted that the public offering provides Jasper Therapeutics with the resources it needs to advance its clinical programs and bring briquilimab to market.
Conclusion
Jasper Therapeutics’ public offering of $30 million at $2.43 per share is expected to support the company’s continued development of briquilimab, its promising antibody therapy for mast cell-driven diseases. With a strong pipeline and a growing body of evidence supporting its therapy, Jasper Therapeutics is well-positioned for future growth and success in the biopharmaceutical industry. For more information on the public offering, click here.
