BUZZ-Jasper Therapeutics falls about 50% after early-stage data for skin disease drug

Drug developer Jasper Therapeutics' shares JSPR.O fall ~50% to $8.65

JSPR says its skin disease drug, briquilimab, met the main goal in the early-stage trial for treating chronic spontaneous urticaria (CSU)

CSU is a skin condition where red, itchy bumps come and go without a clear reason

Brokerage William Blair says patients treated with the 180 milligram dose every 8 weeks showed a weaker reduction in disease activity compared with other dose levels

Brokerage says adverse events are not broken out by dose level, making it difficult to assess the safety profile of specific regimens

Brokerage says 240 mg and 120 mg doses show strong initial efficacy but lose effectiveness over time, raising concerns about durability and long-term disease control

All 11 brokerages rate the stock "buy" or higher; their median PT is $69 - LSEG

JSPR gained 13.6% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))