Jasper Therapeutics (JSPR, Financial) has announced a significant reorganization strategy aimed at extending its financial resources. The plan includes a reduction of its workforce by approximately 50%. As part of this strategic shift, Edwin Tucker, M.D. will step down from his position as Chief Medical Officer, and Daniel Adelman, M.D., a current member of the company's Scientific Advisory Board, will take over as Acting CMO.
With an increased emphasis on developing briquilimab for chronic urticaria, Jasper will suspend all other clinical and preclinical projects. The company remains committed to advancing briquilimab, having observed promising outcomes and safety in studies related to chronic spontaneous urticaria (CSU) and chronic inducible urticaria (CIndU).
Jasper plans to share further results from its BEACON and open label extension studies later in the year. Despite the tough decision to downsize, the company believes this is essential for effective capital management and continued progress in their mission to offer innovative treatment solutions. The focus will remain on briquilimab's development, shelving other initiatives, such as the ETESIAN study in asthma and others, for the foreseeable future.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for Jasper Therapeutics Inc (JSPR, Financial) is $29.13 with a high estimate of $70.00 and a low estimate of $4.00. The average target implies an upside of 864.40% from the current price of $3.02. More detailed estimate data can be found on the Jasper Therapeutics Inc (JSPR) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Jasper Therapeutics Inc's (JSPR, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
