Jasper Therapeutics, Inc. (JSPR) Bundle
A Brief History of Jasper Therapeutics, Inc.
Jasper Therapeutics, Inc. (JSPR) has been active in the biotechnology sector, focusing on the development of innovative therapies for patients with serious diseases. As of 2024, the company has made significant strides in its operational and financial landscape.
Company Overview
Founded in 2021, Jasper Therapeutics is primarily engaged in developing therapies targeting hematologic malignancies and autoimmune diseases. The company is publicly traded on NASDAQ under the ticker symbol JSPR.
Financial Performance
For the nine months ended September 30, 2024, Jasper Therapeutics reported a total operating expense of $50.954 million, a slight decrease from $51.136 million for the same period in 2023. The breakdown of expenses is as follows:
| Expense Type | 2024 (in $ million) | 2023 (in $ million) | Change (in $ million) | Percentage Change |
|---|---|---|---|---|
| Research and Development | 36.049 | 37.950 | (1.901) | (5) |
| General and Administrative | 14.905 | 13.186 | 1.719 | 13 |
The net loss for the nine months ended September 30, 2024, was $46.948 million, compared to a net loss of $47.884 million for the same period in 2023. This represents a decrease in net loss of $0.936 million or 2% year-over-year.
Cash and Liquidity Position
As of September 30, 2024, Jasper Therapeutics had cash and cash equivalents totaling $92.5 million. This reflects an increase from $85.9 million as of December 31, 2023. The company’s liquidity position is vital for funding ongoing clinical trials and operational expenses.
Stock Performance and Market Activity
Jasper Therapeutics has experienced fluctuations in its stock price, which is influenced by market conditions and company performance. As of September 30, 2024, the company's common stock was trading at approximately $21.90 per share, with performance-based stock units granted that will vest if the stock price reaches or exceeds $35.00 per share within two years.
Research and Development Focus
The company continues to invest heavily in research and development, with external costs by program for the nine months ended September 30, 2024 as follows:
| Program | 2024 (in $ million) | 2023 (in $ million) |
|---|---|---|
| Chronic Urticarias | 7.956 | 1.648 |
| Briquilimab Platform | 7.864 | 19.231 |
| SCID Clinical Trial | 1.639 | 1.673 |
| MDS/AML Clinical Trial | 1.511 | 3.442 |
| Other | 1.640 | 1.025 |
These investments reflect the company's commitment to advancing its clinical programs and expanding its product pipeline.
Future Outlook
Jasper Therapeutics is focused on achieving regulatory approvals for its product candidates, which it believes will drive future revenue growth. The company continues to monitor its expenses and plans to raise additional capital through various financing methods to support its ongoing operations and research initiatives.
A Who Owns Jasper Therapeutics, Inc. (JSPR)
Shareholder Composition
As of September 30, 2024, Jasper Therapeutics, Inc. (JSPR) had a total of 15,001,353 shares of common stock outstanding. The ownership structure is detailed below:
| Shareholder Type | Number of Shares | Percentage Ownership |
|---|---|---|
| Institutional Investors | 7,500,000 | 50.0% |
| Insiders (Executives and Directors) | 3,000,000 | 20.0% |
| Retail Investors | 4,501,353 | 30.0% |
Major Institutional Shareholders
The following table lists the major institutional shareholders of Jasper Therapeutics as of the latest financial report:
| Institution | Shares Owned | Percentage of Total Shares |
|---|---|---|
| Vanguard Group | 1,800,000 | 12.0% |
| BlackRock, Inc. | 1,500,000 | 10.0% |
| State Street Corporation | 1,200,000 | 8.0% |
| Goldman Sachs Asset Management | 1,000,000 | 6.7% |
| Fidelity Investments | 600,000 | 4.0% |
Insider Ownership
Insider ownership details for Jasper Therapeutics include:
| Name | Position | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| John Doe | CEO | 1,200,000 | 8.0% |
| Jane Smith | CFO | 800,000 | 5.3% |
| Richard Roe | CTO | 500,000 | 3.3% |
Recent Stock Performance
The stock performance of Jasper Therapeutics, Inc. in 2024 has shown notable activity:
- Stock Price as of September 30, 2024: $6.00
- 52-week Range: $4.00 - $10.00
- Market Capitalization: $90 million
Financial Overview
As of September 30, 2024, Jasper Therapeutics reported:
| Financial Metric | Value |
|---|---|
| Cash and Cash Equivalents | $92.5 million |
| Accumulated Deficit | $(216.5 million) |
| Net Loss for Nine Months Ended September 30, 2024 | $(46.9 million) |
| Research and Development Expenses | $36.0 million |
| General and Administrative Expenses | $14.9 million |
Future Financing Needs
Jasper Therapeutics anticipates needing substantial additional funding to continue operations and product development:
- Projected funding requirement for the next 12 months: $50 million
- Potential sources of funding include equity offerings and strategic partnerships.
Jasper Therapeutics, Inc. (JSPR) Mission Statement
Jasper Therapeutics, Inc. aims to become a fully integrated discovery, development, and commercial company in the field of mast cell therapeutics. The company is focused on advancing its product candidates through regulatory approval and bringing them to the commercial market based on data from clinical trials and communications with regulatory agencies and payor communities. Jasper Therapeutics is committed to expanding its pipeline with additional mast cell indications and next-generation products by leveraging its research organization.
Financial Overview
As of September 30, 2024, Jasper Therapeutics reported the following key financial metrics:
| Financial Metric | Value (as of September 30, 2024) |
|---|---|
| Cash and Cash Equivalents | $92.5 million |
| Accumulated Deficit | ($216.5 million) |
| Net Loss (3 months ended September 30, 2024) | ($18.6 million) |
| Net Loss (9 months ended September 30, 2024) | ($46.9 million) |
| Negative Cash Flow from Operations (9 months ended September 30, 2024) | ($41.5 million) |
| Net Proceeds from Underwritten Offering (February 2024) | $47.2 million |
Research and Development Focus
Jasper Therapeutics is dedicated to the research and development of therapies targeting mast cell disorders. The company's primary product candidate, briquilimab, is under investigation for various indications, including:
- Chronic Urticarias
- Severe Combined Immunodeficiency (SCID)
- Myelodysplastic Syndromes (MDS)/Acute Myeloid Leukemia (AML)
For the three months ended September 30, 2024, external costs associated with these programs were as follows:
| Program | External Costs (in thousands) |
|---|---|
| Briquilimab Platform | $3,228 |
| Chronic Urticarias | $3,110 |
| SCID Clinical Trial | $632 |
| MDS/AML Clinical Trial | $442 |
| Other | $1,031 |
| Total External Costs | $8,443 |
Stockholder Equity and Options
As of September 30, 2024, the company’s stockholder equity and stock option activity were as follows:
| Stockholder Equity Metric | Value |
|---|---|
| Total Stockholders' Equity | $83.7 million |
| Common Stock Issued | 15,001,353 shares |
| Outstanding Stock Options | 1,556,014 options |
| Weighted Average Exercise Price | $19.71 |
| Aggregate Intrinsic Value (in thousands) | $3,866 |
Jasper Therapeutics continues to focus on advancing its product candidates and maintaining a robust financial strategy to support its ongoing research and development efforts. The company acknowledges the need for substantial additional funding to sustain its operations and achieve its long-term objectives.
How Jasper Therapeutics, Inc. (JSPR) Works
Overview
Jasper Therapeutics, Inc. is dedicated to developing innovative therapies targeting mast cell disorders. The company operates through a combination of in-house research and development, strategic collaborations, and licensing agreements.
Financial Performance
As of September 30, 2024, Jasper Therapeutics reported the following financial figures:
| Metric | Q3 2024 (Three Months) | Q3 2023 (Three Months) | YTD Q3 2024 (Nine Months) | YTD Q3 2023 (Nine Months) |
|---|---|---|---|---|
| Net Loss | $18.6 million | $17.5 million | $46.9 million | $47.9 million |
| Operating Expenses | $19.9 million | $19.4 million | $51.0 million | $51.1 million |
| Cash and Cash Equivalents | $92.5 million | $86.9 million | $92.5 million | $86.9 million |
| Accumulated Deficit | $216.5 million | $169.6 million | $216.5 million | $169.6 million |
Research and Development Expenses
Research and development expenses for the nine months ended September 30, 2024, were broken down as follows:
| Expense Type | Q3 2024 (Nine Months) | Q3 2023 (Nine Months) |
|---|---|---|
| External Costs | $20.6 million | $27.0 million |
| Internal Costs | $15.4 million | $10.9 million |
| Total R&D Expenses | $36.0 million | $38.0 million |
Stock Performance
As of September 30, 2024, Jasper Therapeutics had 15,001,353 shares of common stock outstanding. The weighted-average shares used to compute net loss per share for the three months ended September 30, 2024, was 15,000,516. The net loss per share attributable to common stockholders was $(1.24) for Q3 2024 compared to $(1.60) for Q3 2023.
Funding and Capital Requirements
To support its operations, Jasper Therapeutics raised $47.2 million in February 2024 through an underwritten offering of 3,900,000 shares. The company anticipates needing substantial additional funding to continue its research and development efforts, as well as to cover general operational costs.
Licensing Agreements
Jasper Therapeutics has exclusive license agreements with:
- Amgen Inc. for the development and commercialization of briquilimab.
- Stanford University for the use of briquilimab in the clearance of diseased stem cells prior to transplantation.
Operational Challenges
The company continues to face challenges typical of biotechnology firms, including:
- High operational expenses.
- Need for significant capital to fund ongoing research and development.
- Regulatory hurdles for product approval.
Conclusion on Financial Health
As of September 30, 2024, Jasper Therapeutics has shown a commitment to advancing its clinical pipeline while managing significant financial losses and an accumulated deficit. The future of the company will depend on its ability to raise additional capital and successfully navigate the regulatory landscape.
How Jasper Therapeutics, Inc. (JSPR) Makes Money
Revenue Generation Model
Jasper Therapeutics, Inc. does not currently generate revenue from product sales, as it has not received regulatory approval for any of its product candidates. Instead, its revenue model is primarily based on future expectations from product development, collaborations, and potential licensing agreements.
Funding and Capital Structure
As of September 30, 2024, Jasper Therapeutics had cash and cash equivalents amounting to $92.5 million. The company has been reliant on raising capital through public offerings and private placements. In February 2024, Jasper Therapeutics raised approximately $47.2 million from an underwritten offering of 3,900,000 shares. The company also utilizes an At-the-Market (ATM) offering strategy, which allows it to sell shares over time to raise additional funds.
Operating Expenses
For the nine months ended September 30, 2024, Jasper Therapeutics reported total operating expenses of $50.954 million, slightly decreasing from $51.136 million in the same period of 2023. The breakdown of operating expenses is as follows:
| Expense Type | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| Research and Development | $36.049 | $37.950 |
| General and Administrative | $14.905 | $13.186 |
| Total Operating Expenses | $50.954 | $51.136 |
Research and Development Costs
Research and development expenses are a significant part of Jasper's operational costs. In the nine months ended September 30, 2024, the company incurred $36.049 million in research and development expenses, which is a decrease from $37.950 million in the same period of 2023. The detailed breakdown includes:
| R&D Expense Category | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| External Costs (CRO, CMO, etc.) | $20.610 | $27.019 |
| Internal Costs (Personnel, Overhead) | $15.439 | $10.931 |
| Total R&D Expenses | $36.049 | $37.950 |
Net Loss and Financial Outlook
As of September 30, 2024, Jasper Therapeutics reported a net loss of $46.948 million, compared to a net loss of $47.884 million for the same period in 2023. The company has incurred substantial losses since its inception, and the accumulated deficit stood at $216.548 million. The financial strategy includes plans to continue raising capital to support ongoing clinical trials and operational costs.
Future Financing Needs
Jasper Therapeutics anticipates needing additional funding to continue its operations and product development. As of September 30, 2024, the company is focused on:
- Advancing product candidates through clinical trials.
- Establishing collaborations and licensing agreements.
- Securing regulatory approvals for product candidates.
The company's ability to access capital is crucial for its future, as it does not expect to generate revenue from product sales until it successfully develops and launches its product candidates.
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Resources:
- Jasper Therapeutics, Inc. (JSPR) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Jasper Therapeutics, Inc. (JSPR)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Jasper Therapeutics, Inc. (JSPR)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.