Amplitude Healthcare Acquisition (OTCMKTS:AMHCU) News: Jasper Therapeutics, Inc. Reports Third Quarter 2024 Results

Jasper Therapeutics, Inc., known for its innovative biotechnology focusing on developing treatments for mast cell-driven diseases, released its financial results for the quarter ended September 30, 2024, along with a corporate update. The company, a clinical-stage biotechnology firm, showcased significant advancements in its mast cell development programs, specifically highlighting positive initial data from its SPOTLIGHT study in chronic inducible urticaria (CIndU).

Ronald Martell, the President and CEO of Jasper Therapeutics, expressed enthusiasm about the achievement of several important milestones. The company’s SPOTLIGHT study demonstrated positive outcomes with over 90% of patients achieving a clinical response in the 40mg and 120mg dose cohorts. Notably, there were no serious adverse events reported. Jasper Therapeutics has also been making strides in advancing its programs aimed at chronic urticaria and asthma, including regulatory clearances in Canada and the EU for its asthma challenge study.

In the financial realm, Jasper Therapeutics reported that as of September 30, 2024, its cash and cash equivalents amounted to $92.5 million. Research and development expenses for the quarter were $14.5 million, while general and administrative expenses totaled $5.4 million. The company recorded a net loss of $18.6 million for the quarter.

Jasper Therapeutics has been conducting clinical studies on briquilimab, a targeted monoclonal antibody designed to address mast cell diseases including chronic urticaria and asthma. The company is also exploring the potential of briquilimab as a conditioning agent for stem cell transplants for rare diseases. To date, briquilimab has demonstrated efficacy and safety in over 160 dosed participants and healthy volunteers across various conditions.

Investors and stakeholders alike are keenly awaiting further developments from Jasper Therapeutics, including the presentation of initial data from the BEACON study expected in early 2025. The company remains committed to advancing its innovative therapies in the realm of mast cell-driven diseases, providing potential new avenues for patients and healthcare providers.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Amplitude Healthcare Acquisition’s 8K filing here.

Amplitude Healthcare Acquisition Company Profile

Amplitude Healthcare Acquisition Corporation does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company intends to focus on the life sciences and pharmaceutical services sectors in the United States and Europe.