BMO Capital downgraded Jasper Therapeutics (JSPR) to Market Perform from Outperform with a price target of $4, down from $15, 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. While new data appear somewhat encouraging, the potential manufacturing issue, and underlying uncertainty/questions make it challenging to separate the signal from the noise, the analyst tells investors in a research note.
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Read More on JSPR:
- Cantor cuts Jasper Therapeutics to Neutral after briquilimab update
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- Buy Rating Maintained for Jasper Therapeutics Amid Manufacturing Setback and Promising Drug Profile
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