As previously reported, Cantor Fitzgerald downgraded Jasper Therapeutics (JSPR) to Neutral from Overweight with no price target after the company disclosed updates for the Phase 1b/2a BEACON study of briquilimab for chronic spontaneous urticaria, including lack of briquilimab activity in certain cohorts due to a compromised drug lot. These updates have “introduced uncertainty for clinical trial execution and development timelines,” according to the analyst, who prefers to step to the sidelines until there are further updates that provide clarity on these events and “concrete decisions” on the go-forward Phase 2b regimens and timelines.
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