Jasper Therapeutics Inc. (NASDAQ:JSPR) reported a fourth-quarter loss of $0.32 per share for the period ending December 31, 2025. The company currently generates no revenue, as it remains focused on clinical development of its lead drug candidate, briquilimab.
Despite the loss, the biotechnology company’s shares climbed 5.44% in pre-market trading following the announcement, as investors reacted positively to recent clinical progress rather than the quarterly financial results.
In January, Jasper said that 67% of additional patients enrolled in Cohort 9.1 of the BEACON study achieved a complete response at 12 weeks, with a mean UAS7 score reduction of 31 points.
The company also reported that 75% of chronic spontaneous urticaria patients participating in the open-label extension study achieved either a complete response or well-controlled disease at 12 weeks.
“Briquilimab has demonstrated the potential for a compelling and differentiated profile in both CSU and CIndU, along with proof of concept in asthma,” said Jeet Mahal, President and Chief Executive Officer of Jasper.
“We are very pleased with the chronic urticaria data we reported in January from the BEACON study as well the open-label extension study, which reaffirmed the potential of briquilimab to drive rapid and durable disease control in patients,” he added.
The company plans to begin enrolling patients in the Phase 2b portion of its Phase 2b/3 clinical study in chronic spontaneous urticaria during the second half of 2026, subject to available funding.
Research and development expenses totaled $11.4 million in the fourth quarter, while general and administrative costs reached $4.5 million.
For the full year 2025, Jasper reported a net loss of $75.8 million, or $3.95 per share. The company ended the year with $28.7 million in cash and cash equivalents, down from $71.6 million a year earlier.