BMO Capital notes that Jasper Therapeutics (JSPR) shares are down 55% during Wednesday trading following the release of preliminary data from its Phase 1a/2b BEACON study evaluating briquilimab, which the firm sees being driven by a “curious dose-response relationship” and a safety profile seen as undifferentiated from its main comparator, Celldex’s (CLDX) barzolvolimab. However, while the data comes from a small number of patients with chronic spontaneous urticaria previously treated with antihistamines or omalizumab, the firm views it as “net positive” and remains positive on briquilimab’s prospects given what it views as “signs of best-in-class efficacy” and “a reasonable explanation for the efficacy disconnect at the 180mg dose,” the analyst tells investors. BMO reiterates an Outperform rating and $63 price target on Jasper shares.
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Read More on JSPR:
- H.C. Wainwright cuts Jasper target, says 50% selloff overdone
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
