Briquilimab’s Robust Efficacy and Favorable Safety in Urticaria Indicate Strong Upside for Jasper Therapeutics and Support a Buy Rating

Analyst Emily Bodnar from H.C. Wainwright maintained a Buy rating on Jasper Therapeutics and keeping the price target at $20.00.

Emily Bodnar’s rating is based on briquilimab’s compelling clinical profile and the increasing clarity around its dosing strategy in chronic spontaneous urticaria (CSU) and chronic inducible urticaria (CIndU). The latest BEACON cohort data show rapid and deep symptom control, with a high proportion of patients achieving complete response within weeks on the 240 mg loading plus 180 mg every-8-weeks regimen, and only modest attenuation of effect before redosing. Long-term extension results reinforce this efficacy, with a majority of CSU patients reaching complete or well-controlled disease and maintaining meaningful reductions in disease scores over time, while CIndU patients similarly exhibit durable responses well beyond the last dose.
Importantly, the emerging safety profile appears favorable, with adverse events generally infrequent, mild, and reversible over extended follow-up, which strengthens the drug’s potential competitiveness in the I&I space. Management’s confidence in using these data to optimize dosing, including exploration of alternative schedules and weight-based loading, underpins a clear path toward an adaptive Phase 2b/3 program expected to initiate in the second half of 2026. Taken together, the robust and durable efficacy signals, supportive safety data, and advancing development strategy provide a solid basis for Bodnar’s Buy rating on Jasper Therapeutics, as successful late-stage trials could materially enhance the company’s value proposition.