Jasper Therapeutics (JSPR) Stock: Why The Price Increased Today

By Amit Chowdhry ● Nov 15, 2021
  • The stock price of Jasper Therapeutics Inc (NASDAQ: JSPR) increased by over 8% pre-market today. This is why it happened.

The stock price of Jasper Therapeutics Inc (NASDAQ: JSPR) – a biotechnology company focused on hematopoietic cell transplant therapies – increased by over 8% pre-market today. Investors are responding positively to Jasper Therapeutics announcing the results for the quarter ended September 30, 2021, and provided a business update.

The highlights of the quarter and recent weeks include

1.) Successful completion of the Company’s public listing (Nasdaq: JSPR) on September 27, 2021 following the business combination with Amplitude Healthcare Acquisition Corporation (AMHC) on September 24, 2021

2.) Receipt of $100 million in gross proceeds through the closing of the concurrent companion PIPE transaction

3.) Enrollment of JSP191 Phase 1b study expansion cohorts in acute myeloid leukemia/myelodysplastic syndrome (AML/MDS) on track; top-line interim data expected Q1 2022

4.) JSP191 Phase 1b severe combined immunodeficiency (SCID) study data accepted for presentation at the American Society of Hematology (ASH) conference in December 2021

5.) Phase 1b SCID study resumed enrollment following COVID-19-related delays as a precaution for SCID patients

6.) Announced non-exclusive research collaboration with Aruvant Sciences, Inc. to evaluate JSP191 in Sickle Cell Disease gene therapy studies

7.) Announced non-exclusive research collaboration with AVROBIO, Inc. to evaluate JSP191 in Fabry disease and Gaucher disease gene therapy studies

8.) Receipt of FDA Orphan designation for JSP191 for conditioning treatment prior to hematopoietic stem cell transplantation and Rare Pediatric Disease designation for JSP191 as a conditioning treatment for patients with SCID

9.) Initiation of a new Phase 1/2 clinical trial with the National Cancer Institute (NCI) to evaluate the use of JSP191 as a targeted, non-toxic conditioning agent in patients with GATA2-related myelodysplastic syndromes

10.) Successful therapeutic stem cell program in-vitro experiments: engineering of hematopoietic stem cells with mRNA of cell surface protein known to improve stem cell function

11.) Appointment of Lawrence Klein, Ph.D., and Chris Nolet to the Company’s board of directors

Q3 2021 Financial Results

— Cash and cash equivalents as of September 30, 2021, were $100.9 million. The Company expects current cash and cash equivalents to be sufficient to fund its planned operating and capital expenditures through mid-2023.

— R&D expenses for the 3 and 9 months ended September 30, 2021 were $7.2 million and $16.8 million, respectively as compared to $4.5 million and $11.2 million, respectively, for the same periods in 2020. And the increases were primarily due to additional costs associated to advancing clinical trials and clinical manufacturing expenses. The increases also relate to higher employee headcount to support ongoing development of product candidates.

— The G&A expenses for the three and nine months ended September 30, 2021 were $2.9 million and $8 million, respectively, as compared to $1.5 million and $3.5 million, respectively, for the same periods in 2020. These increases were primarily related to professional fees, employee compensation related expenses, including stock-based compensation, supporting the growth in operations and costs associated with being a public company.

— For the third quarter of 2021, the net loss was $3.4 million compared to the net loss of $10.8 million for the third quarter of 2020, and for the nine months ended September 30, 2021, net loss was $21.6 million compared to the net loss of $21.7 million for the nine months ended September 30, 2020.

KEY QUOTE:

“Our third quarter has been a transformative period for Jasper, during which we became a Nasdaq-listed company, secured $100 million of gross proceeds in new capital, continued to have success in advancing JSP191 in clinical trials, established proof of concept in our research-stage therapeutic stem cell platform and signed two additional corporate partnerships. As a result, we are now poised for the next stage of success towards transforming the field with upcoming milestones, including: JSP191 AML/MDS top line data in broader patient cohorts with long term follow-up, additional long-term JSP191 data in SCID patients, initiation of a pilot study of JSP191 in autoimmune disease, in-vivo proof of concept data in our therapeutic stem cell program using mRNA cell engineering, initiation of corporate partner gene therapy studies as well as enrollment into academic partner studies across multiple indications.”

— Bill Lis, executive chairman and chief executive officer of Jasper Therapeutics

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.