Jasper Therapeutics Announces Pricing of $50 Million Underwritten Offering of Common Stock

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Jasper Therapeutics, Inc. announced the pricing of its underwritten offering of 3,900,000 shares of its common stock at an offering price of $12.95 per share, generating gross proceeds of approximately $50 million. The net proceeds will be used for the advancement of preclinical and clinical development programs of briquilimab in mast-cell driven diseases and general corporate purposes.
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The capital raise through the underwritten offering of 3,900,000 shares by Jasper Therapeutics is a strategic move to secure funding for its ongoing clinical and preclinical programs, particularly for briquilimab. The pricing at $12.95 per share, aiming for gross proceeds of approximately $50 million, is a critical juncture for the company's financial health. This influx of capital is expected to extend the company's operational runway, allowing for the continued development of its pipeline without the immediate need for further dilutive financing.

Investors and stakeholders should monitor the post-offering share performance, as dilution can often lead to a short-term decline in share price. However, the long-term success of the company's clinical trials could potentially offset this dilution through value creation if the therapies prove to be effective and gain market approval. The allocation of funds towards general corporate purposes also indicates a broader strategic plan for operational stability and growth.

The focus of Jasper Therapeutics on developing antibody therapies for conditions like chronic spontaneous urticaria (CSU) and myelodysplastic syndromes (MDS) places them in a competitive but highly specialized segment of the biotechnology industry. The success of briquilimab, their lead candidate in mast-cell driven diseases, could potentially address significant unmet medical needs, which is a promising prospect for patient outcomes and the company's market positioning.

It is important to note that the clinical success of briquilimab could lead to a substantial market opportunity, given the limited effective treatments for CSU and MDS. If the drug demonstrates efficacy and safety in its ongoing trials, it could become a key driver of Jasper's future revenue and growth. The allocation of the raised funds towards advancing these clinical programs is thus a critical investment in the company's pipeline and future prospects.

The biotech sector is known for its volatility, with companies like Jasper Therapeutics being highly dependent on the successful development and approval of their drug candidates. The decision to raise capital through a stock offering is indicative of the company's confidence in its product pipeline and its ability to attract investor interest despite the inherent risks of drug development. The pricing of the offering and the expected gross proceeds suggest a calculated move to balance the need for capital with market conditions and investor expectations.

From a market perspective, the success of Jasper's clinical programs could have broader implications for the biotech sector, especially in the area of novel antibody therapies. Positive outcomes from their trials could attract further investment into the sector and potentially lead to strategic partnerships or acquisition interest. Conversely, any setbacks could reverberate through the market sentiment towards similar biotech firms.

REDWOOD CITY, Calif., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Jasper Therapeutics, Inc. (Nasdaq: JSPR) (“Jasper”), a clinical-stage biotechnology company focused on developing novel antibody therapies targeting c-Kit (CD117) to address diseases such as chronic spontaneous urticaria (CSU) and lower to intermediate risk myelodysplastic syndromes (MDS) as well as novel stem cell transplant conditioning regimes, announced today the pricing of its underwritten offering of 3,900,000 shares of its common stock. Each share of common stock will be sold at an offering price of $12.95 per share, for gross proceeds of approximately $50 million, before deducting underwriting discounts and commissions and offering expenses. Jasper intends to use the net proceeds from the offering for continued advancement of its preclinical and clinical development programs of briquilimab in mast-cell driven diseases such as CSU and Chronic Inducible Urticaria (CIndU), as well as general corporate purposes, which may include capital expenditures, working capital and general and administrative expenses. All of the shares of common stock are being offered by Jasper. The offering is expected to close on or about February 8, 2024, subject to the satisfaction of customary closing conditions.

The transaction included participation from new and existing investors, including Abingworth, Avidity Partners, Boxer Capital, Great Point Partners, LLC, Qiming Venture Partners USA, Rock Springs Capital, Samsara BioCapital, Soleus Capital, Velan Capital, Woodline Capital and a large mutual fund. TD Cowen and Evercore ISI are acting as the joint book-running managers for the offering. RBC Capital Markets is acting as lead manager for the offering.

The securities described above were offered by Jasper pursuant to a registration statement on Form S-3 (File No. 333-271500) previously filed with the Securities and Exchange Commission (the “SEC”) on April 28, 2023 and declared effective by the SEC on May 5, 2023. The securities may be offered only by means of a prospectus. A prospectus supplement and the accompanying prospectus relating to and describing the offering has been filed with the SEC. When available, electronic copies of the prospectus supplement and the accompanying prospectus relating to the offering may be obtained by visiting the SEC’s website at or by contacting Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by email at, or by telephone at (833) 297-2926 or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at 1-888-474-0200 or by email at

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Jasper

Jasper is a clinical-stage biotechnology company developing briquilimab, a monoclonal antibody targeting c-Kit (CD117) as a therapeutic for chronic mast and stem cell diseases such as chronic urticaria and lower to intermediate risk myelodysplastic syndromes (MDS) and as a conditioning agent for stem cell transplants for rare diseases such as sickle cell disease (SCD), Fanconi anemia (FA) and severe combined immunodeficiency (SCID). To date, briquilimab has a demonstrated efficacy and safety profile in more than 145 dosed participants and healthy volunteers, with clinical outcomes as a conditioning agent in SCID, AML, MDS, FA, and SCD.

Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the completion of the underwritten offering, the anticipated proceeds from the offering, the use of such proceeds and timing for the closing of the offering. These statements are based on our current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties involved include those associated with general economic and market conditions and our ability to satisfy closing conditions applicable to the offering, as well as other risk factors and matters set forth in our periodic filings with the SEC, including our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and the prospectus supplement and the accompanying prospectus related to the public offering filed with the SEC. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.


Joyce Allaire (investors)
LifeSci Advisors

Alex Gray (investors)
Jasper Therapeutics

Lauren Walker (media)
Real Chemistry

The offering price of Jasper Therapeutics, Inc.'s underwritten offering is $12.95 per share.

Jasper Therapeutics, Inc.'s underwritten offering includes 3,900,000 shares of its common stock.

The gross proceeds of Jasper Therapeutics, Inc.'s underwritten offering are approximately $50 million.

The net proceeds from the offering will be used for the advancement of preclinical and clinical development programs of briquilimab in mast-cell driven diseases and general corporate purposes.
Jasper Therapeutics Inc


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jasper therapeutics is a biotechnology company focused on enabling safer conditioning agents to allow for expanded use of curative therapy with stem cell transplants and gene therapies. jasper’s lead compound, jsp191, is in clinical development as a conditioning antibody that clears hematopoietic stem cells from bone marrow in patients undergoing a stem cell transplant.