Jasper Therapeutics rises as BTIG initiates with 'buy' rating

Jasper Therapeutics

08/07/2024 14:53

** Shares of drug developer Jasper Therapeutics  JSPR.O 
rise 11.5% to $23.58  
    ** Brokerage BTIG initiates coverage with "Buy" rating and
sets PT of $90, representing a four-fold upside to stock's last
close  
    ** Says co's experimental drug briquilimab is a product with
attractive market potential in addressing chronic urticaria, a
large market not well served by available therapies
    ** Briquilimab is currently in development to treat chronic
urticaria or hives - a skin rash
    ** Says briquilimab could be positively differentiated from
other therapies "on safety, efficacy, and a more convenient and
less frequent dosing regimen, offering competitive commercial
advantages" - BTIG 
    ** Co to start an early-stage study to test briquilimab in 
asthma patients which BTIG says is attractive expansion
opportunity and "is underappreciated and not currently reflected
in the stock" 
    ** Brokerage says it sees potential for briquilimab to be
used in additional immunology and inflammatory indications that
could drive further upside
    ** Including session moves, stock more than doubled YTD

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))