Shares of Jasper Therapeutics, Inc. (JSPR) tanked over 52% on Wednesday morning after the clinical-stage biotechnology company reported data from BEACON study of Briquilimab in Chronic Spontaneous Urticaria.
JSPR is currently trading at $8.42, down $9.29 or 52.46%, on the Nasdaq. The stock opened its trading at $ 8.74 after closing Tuesday at $17.71. The stock has traded between $6.61 and $31.01 in the past 52-week period.
Briquilimab is a novel antibody therapy targeting c-Kit (CD117) to address mast cell driven diseases such as chronic spontaneous urticaria (CSU), chronic inducible urticaria (CIndU) and asthma.
The company reported preliminary data from Jasper's ongoing BEACON Phase 1b/2a study of subcutaneous briquilimab in adult participants with CSU.
Substantial reductions in UAS7 were reported, with a mean change from baseline at 8 weeks of -26.6 in the 240mg single-dose cohort and multiple dosing regimens at or above 120mg demonstrating UAS7 changes of more than -25 points.
Clinical responses were observed as early as 1-week post-first dose, and Complete Responses were achieved by patients at each therapeutic dose level, most notably, all patients in the 240mg single-dose cohort maintained Complete Responses through the 8-week time-point.
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