# EDGAR Filing Document

**Accession Number:** 0001788028
**File Stem:** 0001213900-25-061632
**Filing Date:** 2025-7
**Character Count:** 34502
**Document Hash:** 6124dd8fd191c6f9306bcdeab1b5a0ee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-061632.hdr.sgml**: 20250707

**ACCESSION NUMBER**: 0001213900-25-061632

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 40

**CONFORMED PERIOD OF REPORT**: 20250707

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250707

**DATE AS OF CHANGE**: 20250707

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Jasper Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0001788028
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 842984849
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39138
- **FILM NUMBER:** 251106990

**BUSINESS ADDRESS:**
- **STREET 1:** 2200 BRIDGE PKWY SUITE #102
- **CITY:** REDWOOD CITY
- **STATE:** CA
- **ZIP:** 94065
- **BUSINESS PHONE:** 6505491400

**MAIL ADDRESS:**
- **STREET 1:** 2200 BRIDGE PKWY SUITE #102
- **CITY:** REDWOOD CITY
- **STATE:** CA
- **ZIP:** 94065

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Amplitude Healthcare Acquisition Corp
- **DATE OF NAME CHANGE:** 20190912

?xml version='1.0' encoding='ASCII'?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): July 7, 2025**

**JASPER THERAPEUTICS, INC.**

**(Exact Name of Registrant as Specified in its Charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-39138** | **84-2984849** |
| **(State or Other Jurisdiction<br> of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br> Identification No.)** |

---

**2200 Bridge Pkwy Suite #102 Redwood City, California 94065**

**(Address of Principal Executive Offices) (Zip Code)**

**(650) 549-1400**

**Registrant's telephone number, including area code**

**N/A**

**(Former Name, or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

---

| | | |
|:---|:---|:---|
| **(Title of each class)** | **(Trading Symbol)** | **(Name of exchange on which registered)** |
| **Voting Common Stock, par value $0.0001 per share** | **JSPR** | **The Nasdaq Stock Market LLC** |
| **Redeemable Warrants, each ten warrants exercisable for one share of Voting Common Stock at an exercise price of $115.00** | **JSPRW** | **The Nasdaq Stock Market LLC** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 8.01. Other Events.**

On July 7, 2025, Jasper Therapeutics, Inc. (the "Company") issued a press release reporting updated data from the Company's BEACON Phase 1b/2a study of subcutaneous briquilimab in adult participants with chronic spontaneous urticaria and providing an update on the program and disclosing that the Company will hold a conference call and webinar at 8:30 am Eastern Daylight Time on July 7, 2025 to present the updated data from the BEACON Phase 1b/2a study and to provide an update on the program.

A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. A copy of the presentation to be used in connection with the conference call and webinar on July 7, 2025 is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

**(d) Exhibits.**

---

| | |
|:---|:---|
| **Number** | **Description** |
| 99.1 | [Press Release, dated July 7 2025.](ea024825201ex99-1_jasper.htm) |
| 99.2 | [Presentation—Jasper Therapeutics: Corporate Presentation July 2025.](ea024825201ex99-2_jasper.htm) |
| 104 | Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXBRL). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  | **JASPER THERAPEUTICS, INC.** | **JASPER THERAPEUTICS, INC.** | **JASPER THERAPEUTICS, INC.** |
| Date: July 7, 2025 | By: | /s/ Herb Cross | /s/ Herb Cross |
|  |  | Name: | Herb Cross |
|  |  | Title: | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**Jasper Therapeutics Reports Clinical Data Update from Briquilimab Studies in Chronic Spontaneous Urticaria**

 

*8 of 9 participants (89%) treated in the 240mg and 360mg single dose cohorts achieved a complete response*

 

*8 of 11 participants (73%) enrolled in the 180mg Q8W open label extension study achieved a complete response at 12 weeks* 

 

*Results from the 240mg Q8W and the 240mg followed by 180mg Q8W cohorts appear to be confounded by issues with one drug product lot*

 

*ETESIAN study in asthma to be stopped due to same drug product lot issue*

 

*No grade 3 or higher treatment related adverse events reported*

 

*Company to host conference call and webinar today, Monday, July 7, at 8:30 a.m. EDT*

**REDWOOD CITY, Calif., July 7, 2025 (GLOBE NEWSWIRE) –** Jasper Therapeutics, Inc. (Nasdaq: JSPR) (Jasper), a clinical stage biotechnology company focused on development of briquilimab, a novel antibody therapy targeting KIT (CD117) to address mast cell driven diseases such as chronic spontaneous urticaria (CSU) and chronic inducible urticaria (CIndU), is reporting updated data from Company's BEACON Phase 1b/2a study of subcutaneous briquilimab in adult participants with CSU and providing an update on the program. Briquilimab administration resulted in deep and rapid disease control in the 240mg and 360mg single-dose cohorts, with 8 of 9 (89%) of participants enrolled across both cohorts achieving a complete response, and with 7 of 9 (78%) achieving a clinical response by week 2. In addition, BEACON participants who rolled over into the open-label extension study dosing at 180mg Q8W demonstrated robust clinical efficacy with 8 of 11 (73%) participants achieving a complete response at 12 weeks.

Results from the 240mg Q8W and the 240mg followed by 180mg Q8W dose cohorts appear to be confounded by an issue with one drug product lot used in those cohorts, with 10 of the 13 patients dosed with drug from the lot in question. The Company is investigating the drug product lot in question and expects to have the results of that investigation in the coming weeks. Key observations noted in those 10 patients were lower than expected drops in mean tryptase levels and no discernable impact on UAS7 scores. The 2 participants enrolled in the cohorts that have been confirmed as being dosed with drug product from a different lot both achieved complete response.

New drug product is being provided to clinical sites to transition the 10 patients who were initially dosed with drug from the lot in question to drug product for their next administration that has demonstrated efficacy in earlier and ongoing cohorts. The Company also plans to enroll an additional 10-12 patients in total across the 240mg Q8W and the 240mg followed by 180mg Q8W cohorts to ensure a robust data set to inform the Phase 2b CSU study. Data from the additional BEACON patients is expected in 4Q 2025 and commencement of the Phase 2b study is now expected in mid-2026.

The Company has also determined that the drug product lot in question was used to treat participants enrolled in the ETESIAN trial evaluating briquilimab in asthma. As a result, and in order to focus resources on advancing briquilimab in CSU, the Company is halting the study and pausing development in asthma. In addition, the Company is halting development in SCID and will be implementing a number of other cost cutting measures, including a potential restructuring, to extend runway and reduce expenses.

"We were pleased that results from the 240mg and 360mg single dose cohorts continue to indicate that briquilimab treatment can lead to deep and durable disease control in patients with CSU," said Ronald Martell, President and Chief Executive Officer of Jasper. "We are also very excited by the performance of the 180mg Q8W dose in the open label extension study with the strong efficacy observed, in combination with the encouraging safety data, supporting a differentiated profile. While we are very disappointed by the confounded results seen in the two multi-dose cohorts of the BEACON study, we are currently investigating the cause and are taking steps to ensure that drug product from the lot in question is returned to the Company and that sites have drug product from other lots to continue dosing. We plan to enroll an additional 10-12 patients across the two impacted cohorts to inform final dose selection for the Phase 2b study, and will be implementing a number of cost cutting measures to reduce burn and extend our cash runway in light of this delay."

**BEACON and Open-Label Extension Study Design and Data Summary:**

The BEACON study is a randomized, double-blind, and placebo-controlled Phase 1b/2a trial evaluating multiple ascending doses of subcutaneous briquilimab as a therapy for adult patients with moderate to severe CSU despite treatment with high dose antihistamines. The primary endpoints are safety and tolerability of briquilimab and secondary endpoints are focused on clinical activity and PK/PD, including measurement of serum tryptase and mast cells in skin. Primary measurements used to assess clinical activity were the sum of the Hives Severity Score and the daily Itch Severity Score (ISS), as measured via the Urticaria Activity Score over 7 days (UAS7) on a 0 to 42-point scale.

The open-label extension study in chronic urticarias is enrolling participants from the BEACON study as well as the SPOTLIGHT study in CIndU upon completion of their initial follow up period. Participants in the open-label extension are treated with 180mg of briquilimab on a Q8W dosing schedule.

The updated data, as of July 3, 2025, includes the results from 20 additional patients treated with briquilimab in the BEACON study, including 2 additional participants at 240mg single dose (in addition to 3 previously enrolled participants), 6 at 240mg Q8W, 7 at 240mg followed by 180mg Q8W, and 5 at 360mg single dose (N=4 evaluable for efficacy), as well as from 11 participants enrolled in the open label extension study at 180mg Q8W, all of whom completed at least 12 weeks of follow-up following initial dosing with investigational product.

Substantial reductions in UAS7 scores were reported with a mean change from baseline at 4 weeks of 28.3 points in the 240mg single-dose cohort and 22.9 points in the 360mg single-dose cohort. Complete responses (UAS7 = 0) were achieved by 5 of 5 (100%) of participants treated in the 240mg single-dose cohort and 3 of 4 (75%) participants treated in the 360mg single dose cohort and 7 of 9 (78%) maintained well controlled disease through 8 weeks.

Briquilimab treatment also resulted in deep and durable disease control in the open label extension study evaluating briquilimab at 180mg Q8W, with 8 of 11 participants (73%) achieving complete response at the week 12 assessment.

Substantial reductions in tryptase were observed as early as the week 1 assessment and were correlated with the onset of clinical responses. Tryptase levels below the lower limit of quantification were reported for 8 of 10 (80%) participants across the 240mg and 360mg single dose cohorts.

Briquilimab continued to be well tolerated in the BEACON study, as well as the open label extension, with no dose limiting toxicities observed. Safety observations potentially related to KIT blockade were infrequent and generally limited to low grade events, none of which resulted in discontinuations or dose delays and the majority of which resolved during repeat dosing. Mild and predictable decreases in neutrophil counts were observed upon dosing, with counts generally recovering prior to subsequent dose and no association to fever or infection. All cases of neutrophil count reduction observed in the 240mg and 360mg single dose cohorts resolved while on study with a median time to resolution of 42 days.

**Conference Call / Webinar**

Jasper will host a conference call and webinar on Monday, July 7, 2025, at 8:30 a.m. EDT. A live question and answer session with management will follow the formal presentations. A link to the webinar, including presentation slides, can be found here. To access the live conference call via phone, dial 844-826-3033 from the US or 412-317-5185 from outside the US, or click here. The conference ID is 10201355, and the conference call passcode is 6702622.

The presentation slides and a link to the live and archived webinar will also be available on the Events & News – Events page of Jasper's Investor Relations website.

**About Jasper**

Jasper is a clinical-stage biotechnology company focused on developing briquilimab as a therapeutic for chronic mast cell diseases. Briquilimab is a targeted aglycosylated monoclonal antibody that blocks stem cell factor from binding to the cell-surface receptor KIT, thereby inhibiting signaling through the receptor. This inhibition disrupts the critical survival signal, leading to the depletion of the mast cells via apoptosis which removes the underlying source of the inflammatory response in mast cell driven diseases such as chronic urticaria and asthma. Jasper is currently conducting clinical studies of briquilimab as a treatment in patients with CSU and CIndU. Briquilimab has a demonstrated efficacy and safety profile in patients and healthy volunteers, with positive clinical outcomes in CSU and CIndU. For more information, please visit us at www.jaspertx.com.

**Forward-Looking Statements**

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding briquilimab's potential, including with respect to its potential in mast cell driven diseases such as CSU, CIndU, and asthma and that briquilimab treatment can lead to deep and durable disease control in patients with CSU; Jasper's planned investigation of drug product lot and expected timing for the results of such investigation; the expected provision of new drug product to transition patients who were initially dosed with drug from the lot in question and the expected results of any such transition; Jasper's plans to enroll additional patients in the 240mg Q8W and the 240mg followed by 180mg Q8W cohorts and the expected number of patients to be enrolled in such cohorts; the expected timing of announcing data from additional BEACON study patients and the expected timing for commencing any Phase 2b study; potential cost cutting measures that may be implemented, including a potential restructuring, and the potential effects thereof, including on Jasper's cash runway and expenses; and briquilimab's safety profile. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Jasper and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Many actual events and circumstances are beyond the control of Jasper. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, political and business conditions; the risk that the potential product candidates that Jasper develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; the risk that clinical trials may not confirm any safety, potency or other product characteristics described or assumed in this press release; the risk that prior test, study and trial results may not be replicated in continuing or future studies and trials; the risk that Jasper's investigation into the drug product lot may be inconclusive or may not lead to the anticipated conclusion; the risk that Jasper may be unable to raise capital to continue its operations and continue the BEACON study; the risk that Jasper will be unable to successfully market or gain market acceptance of its product candidates; the risk that prior study results may not be replicated; the risk that Jasper's product candidates may not be beneficial to patients or successfully commercialized; patients' willingness to try new therapies and the willingness of physicians to prescribe these therapies; the effects of competition on Jasper's business; the risk that third parties on which Jasper depends for laboratory, clinical development, manufacturing and other critical services will fail to perform satisfactorily; the risk that Jasper's business, operations, clinical development plans and timelines, and supply chain could be adversely affected by the effects of health epidemics; the risk that Jasper will be unable to obtain and maintain sufficient intellectual property protection for its investigational products or will infringe the intellectual property protection of others; and other risks and uncertainties indicated from time to time in Jasper's filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent Quarterly Reports on Form 10-Q. If any of these risks materialize or Jasper's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. While Jasper may elect to update these forward-looking statements at some point in the future, Jasper specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Jasper's assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

**Contacts:**

Alex Gray (investors)<br> Jasper Therapeutics<br> 650-549-1454 <br> agray@jaspertx.com

<br> Joyce Allaire (investors)<br> LifeSci Advisors<br> 617-435-6602<br> jallaire@lifesciadvisors.com

Lauren Walker (media)<br> Real Chemistry<br> 646-564-2156<br> lbarbiero@realchemistry.com

## Exhibit 99.2

**Exhibit 99.2**

![](ex99-2_001.jpg)

Jasper Therapeutics Corporate presentation July 2025

![](ex99-2_002.jpg)

2 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION Safe Harbor Statements Forward - Looking Statements This investor presentation and any accompanying oral presentation (together, this "Presentation") contain forward - looking statem ents. All statements other than statements of historical fact contained in this Presentation, including statements regarding the future opportunit ies and prospects of Jasper Therapeutics, Inc. (together with its subsidiary, "Jasper" or the "Company"), including milestones, potential regulatory fili ngs and the anticipated timing thereof, patient enrollment, future timelines, business strategy, and plans and objectives for future operations, are forward - lo oking statements. Jasper has based these forward - looking statements on its estimates and assumptions and its current expectations and projections about futur e events. These forward - looking statements are subject to a number of risks, uncertainties and assumptions, including those contained in the "Risk Fa cto rs" section of the Company's Annual Report on Form 10 - K for the year ended December 31, 2024, Quarterly Reports on Form 10 - Q and Current Reports on Form 8 - K that the Company has subsequently filed or may subsequently file with the SEC. In light of these risks, uncertainties and assumptions, the forward - lo oking events and circumstances discussed in this Presentation are inherently uncertain and may not occur, and actual results could differ materially and adv ers ely from those anticipated or implied in the forward - looking statements. Accordingly, you should not rely upon forward - looking statements as predictions of future events. Jasper undertakes no obligation to update publicly or revise any forward - looking statements for any reason after the date of thi s Presentation or to conform these statements to actual results or to changes in Jasper's expectations. Industry and Market Data Certain data in this Presentation was obtained from various external sources, and neither the Company nor its affiliates, adv ise rs or representatives has verified such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or repr ese ntatives makes any representations as to the accuracy or completeness of that data or undertakes any obligation to update such data after the da te of this Presentation. Such data involves risks and uncertainties and is subject to change based on various factors. Trademarks The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products or services of the Company.

![](ex99-2_003.jpg)

3 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION Briquilimab continues to demonstrate rapid onset, deep clinical response and favorable safety • More than 25pt drop in UAS7 with 78% CR and 89% WC disease by week 4 with single dose (240mg SD & 360mg SD, n =9) • Deep reductions in serum tryptase to LLOQ sustained through 4 weeks (240mg SD & 360mg SD) • Highly effective in OLE study at 180mg Q8W with 73 % CR and 82% WC disease at 12 weeks (n=11) • Continued favorable safety profile 240mg Q8W & 240mg/180mg Q8W confounded by potential issues with one drug product lot • 10 of 10 patients dosed from new dr ug product lot ("Lot A34954") showed n o UAS7 reductions and modest reductions in serum tryptase • 2 of 2 patients confirmed to have been dosed with diff erent lot also used in OLE ac hieved rapid complete responses and deep tryptase reductions • Investigation on potential issue with lot A34954 is ongoing, results expected in the coming weeks Next steps to address lot issue and generate multi - dose data for Phase 2b dose selection • Replacing all lot A34954 material with second lot for continued dosing of 240mg Q8W & 240mg/180mg Q8W patients • Adding 10 - 12 patients across the two cohorts to provide additional data with replaced drug product • Additional data from these two cohorts expected in Q4 2025 Interim BEACON and OLE study results continue to demonstrate potential for differentiated efficacy and safety profile in CSU

![](ex99-2_004.jpg)

Briquilimab in Chronic Spontaneous Urticaria

![](ex99-2_005.jpg)

5 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION Screening/Eligibility • CSU diagnosis ≥ 6 mos. • UAS7 ≥ 16 • 18+ years • H1 - antihistamine - failed • Inadequate response to omalizumab Study Operations • US Lead: Tom Casale, MD • EU Lead: Martin Metz, MD • ~30 sites in the US & EU Key Assessments • Disease Scores: UAS7, UCT • Safety: TEAEs, SAEs • PK • Mast Cell Depletion & Recovery: Serum Tryptase, Skin Biopsies Phase 1b/2a BEACON Study in Chronic Spontaneous Urticaria Randomized, Double - Blind, Placebo - Controlled, Multiple Ascending Dose Study Patients (Randomization) Dose Schedule n=3 n=3 n=8 (3:1) n=6 (2:1) n=6 (2:1) n=10 (3:1) n=9 (3:1) n=9\* (3:1) n=8\* (3:1) n=8 (3:1) n=8 (3:1) 10mg 40mg 80mg Open Label (n=6) Double - Blind Placebo - Controlled (n = 80) Weeks 0, 4, 12, 20 Q8W Q 8W Q12W Q8W Q12W Q8W 120mg 180mg 240mg 240mg → 180mg 360 mg Single Dose Single Dose Q8W \*Includes Omalizumab Naïve participants

![](ex99-2_006.jpg)

BEACON Single - Dose Cohorts 240mg SD & 360mg SD

![](ex99-2_007.jpg)

7 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION 240mg SD and 360mg SD PK Concentration over Time Rapid C - Max achieved around Day 5 - 8 LOQ values are imputed to 1. ALQ values are imputed to 100,000. PK values are displayed in log10 scale. 240mg SD Cohort 360mg SD Cohort

![](ex99-2_008.jpg)

8 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION Dose dependent reductions in serum tryptase Reduction below 1.6ug/ml in 80% (8/10) single dose 240mg & 360mg participants by week 2 Data analysis as of 3 July 2025 Weeks Serum Tryptase (ng/mL) LLOQ 0 2 4 6 8 10 12 0 1 2 4 6 8 240mg SD Placebo 36 0mg SD Values at LLOQ reported as 0.8ug/ml

![](ex99-2_009.jpg)

9 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION \*Note: At Week 6 in the BEACON study, patients in the placebo arm were allowed rescue medications. 0 5 10 15 20 25 30 35 0 1 2 3 4 5 6 7 8 9 10 11 12 UAS7 Week Briquilimab (BEACON) Placebo (n=19) 240 mg SD (n=5) 360 mg SD (n=4) BEACON Cohort 6 (240mg SD) and Cohort 7 (360mg SD) 89% (8 of 9) of patients achieving complete response following single dose

![](ex99-2_010.jpg)

BEACON Multi - Dose Cohorts 240mg Q8W & 240mg/180mg Q8W

![](ex99-2_011.jpg)

11 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION BEACON Multi - Dose Cohorts (240mg Q8W & 240mg/180mg Q8W) 240mg Q8W & 240mg/180mg Q8W confounded by potential issue with one drug product lot • 10 of 10 patients dosed from one drug product lot ("Lot A34954") showed no UAS7 reductions and modest reductions in serum tryptase • 2 of 2 patients confirmed to have been dosed with different lot, also used in OLE study, achieved rapid complete responses and deep tryptase reductions • PK achieved reasonable levels across both cohorts, consistent with 240mg SD & 360mg SD patients • No new safety signals observed Next steps: • Investigation on potential issues with Lot A34954 is ongoing, results expected in the coming weeks • Shipping drug product from the second additional lot to sites for dosing 240mg Q8W & 240mg/180mg Q8W patients • Adding 10 - 12 patients across the two cohorts to provide additional data

![](ex99-2_012.jpg)

12 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION \*Note: At Week 6 in the BEACON study, patients in the placebo arm were allowed rescue medications. 0 5 10 15 20 25 30 35 0 1 2 3 4 5 6 7 8 UAS7 Week Briquilimab (BEACON) Placebo (n=19) Lot A34954 (n=10) Other lots (n=8) 240mg SD UAS7 Reductions by Drug Product Lot No CRs in patients (0 of 10) dosed with Lot A34954 vs 88% (7 of 8) for those given other lots

![](ex99-2_013.jpg)

Safety

![](ex99-2_014.jpg)

CONFIDENTIAL BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION Briquilimab was well tolerated and demonstrated a favorable safety profile Pooled Placebo (N=19) n (%) Total Pooled Briquilimab (N=57) 5 n (%) 240mg D1 180mg Q8W Briquilimab (N=7) n (%) 240mg Q8W Briquilimab (N=6) n (%) 360mg Briquilimab (N=5) n (%) 240mg Briquilimab (N=5) n (%) Pooled 180mg Briquilimab (N=14) n (%) Pooled 120mg Briquilimab (N=8) n (%) Number of Participants With 11 (57.9) 38 (66.7) 3 (42.9) 2 (33.3) 4 (80) 5 (100) 10 (71.4) 8 (100) Any TEAE 0 (0) 1 (1.8) 1 0 (0) 0 (0) 0 (0) 0 (0) 1 (7.1) 1 0 (0) Any Treatment - Related Serious TEAE 0 (0) 2 (3.5) 1,2 1 (14.3) 2 0 (0) 0 (0) 0 (0) 1 (7.1) 1 0 (0) Any TEAE Leading to Discontinuation of IP 1 (5.3) 4 1 (1.8) 3 0 (0) 0 (0) 0 (0) 0 (0) 1 (7.1) 3 0 (0) Any Treatment - Related TEAE > Grade 3 1 Single participant, 180mg Q8W, CoFAR grade 2 hypersensitivity reaction 2 Single participant, 240mg D1 180mg Q8W, CoFAR grade 2 hypersensitivity reaction 3 Single participant, 180mg Q12W, CTCAE grade 3 AE: neutropenia, unrelated - prior history of idiopathic neutropenia, thrombocytop enia 4 Single participant, placebo, CTCAE grade 3 bronchitis 5 Total pooled briquilimab includes 10mg (n=3), 40mg (n=3), and 80mg (n=6) Most commonly reported AEs (≥5 participants): nasopharyngitis, neutrophil count decrease, taste disorder, fatigue, hair color ch ange, URTI

![](ex99-2_015.jpg)

15 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION Safety/tolerability observations possibly related to KIT blockade were generally limited to low grade events Majority resolved during repeat dosing and none resulted in discontinuations Pooled Placebo (N=19) n (%) Total Pooled Briquilimab (N=57) n (%) 240/180 mg Q8W Briquilimab (N=7) n (%) 240mg Q8W Briquilimab (N=6) n (%) 360mg Briquilimab (N=5) n (%) 240mg Briquilimab (N=5) n (%) Pooled 180mg Briquilimab (N=14) n (%) Pooled 120mg Briquilimab (N=8) n (%) Adverse Event as reported term 1 (5.3) 5 (8.8) 0 (0) 1 (16.7) 0 (0) 0 (0) 2 (14.3) 1 (12.5) Hair color changes 1 (5.3) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) Skin discoloration 1 (5.3) 10 (17.5) 2 2 (28.6) 1 1 (16.7) 2 (40) 2 (40) 1 (7.1) 1 (12.5) Taste change/Hypogeusia 2 (10.5) 11 (19.3) 3 1 (14.3) 1 0 (0) 1 (20) 4 (80) 3 (21.4) 2 (25) Neutrophil count decreased 1 Events observed in patients dosed with drug product lots other than Lot A34594 2 Median time to resolution of Taste change/Hypogeusia observed was 31 days 3 Median time to resolution of Neutrophil count decreases observed was 15 days

![](ex99-2_016.jpg)

16 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION 240mg SD & 360mg SD neutrophil counts generally stable with predictable reduction which subsequently resolved Mean time to resolution of 42 days, no discontinuations or dose delays due to reductions in neutrophil counts Data analysis as of 3 July 2025 0 2 4 6 8 10 12 14 16 0 1 2 3 4 5 6 7 8 9 10 11 12 360mg SD 240mg SD Weeks Mean Neutrophils (10 9 /L) Placebo ULN LLN

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CSU Open Label Extension 180mg Q8W

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18 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION Jasper Chronic Urticaria Open Label Study (JSP - CP - 014) Generate additional safety, efficacy and durability for both CSU and CIndU programs, at 180mg Q8W dose schedule Projected to add ~80 patients from the parent studies (Beacon and Spotlight)

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19 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION Preliminary OLE 180mg Q8W Results Rapid control as early as week 1, with >25 point mean change from baseline at week 12 Data cut - off 3 July 2025

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20 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION Briquilimab was well tolerated and demonstrated a favorable safety profile in the OLE study Briquilimab 180mg Q8W (n=18) 16 (88) Any adverse event\* 0 (0) Any serious adverse event 0 (0) Any adverse event leading to discontinuation 0 (0) Adverse event leading to death 1\*\* (5.5) Adverse event ≥ grade 3 \*AEs occurring in ≥1 participant: COVID - 19, dizziness , ear pain, gastroesophageal reflux, nausea, pneumonia \*\* Single participant, grade 3 leukopenia, 8 weeks after 4 th dose, concurrent COVID infection, self - resolved while on study, participant achieved a CR at week 3 and maintains ongoing CR through 6 months

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21 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION Safety/tolerability observations possibly related to KIT blockade in OLE Briquilimab 180mg Q8W (n=18) 0 (0) Hair color change 0 (0) Skin discoloration 4 (22.2) Taste change/hypogeusia 0 (0) Neutrophil count decreased 1\* (5.6) Leukocyte count decreased \* Single participant, grade 3 leukopenia, 8 weeks after 4 th dose, concurrent COVID infection, self - resolved while on study, participant achieved a CR at week 3 and maintains ongoing CR through 6 months

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Summary and Next Steps

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23 BRIQUILIMAB IS AN INVESTIGATIVE DRUG AND IS NOT APPROVED FOR ANY INDICATION Potential drug product issue • Investigation of Lot A34954 ongoing, results expected in the coming weeks • Shipping fresh drug for subsequent dosing on current patients and adding 10 - 12 new patients across the two cohorts • Data for re - dosed patients and the additional 10 - 12 patients planned to be available by Q4 2025 • Halting the ETESIAN study in asthma given study dosed using the lot under investigation (Lot A34594) Single dose briquilimab continues to demonstrate rapid onset and deep clinical response • More than 25pt drop in UAS7 with 78% CR and 89% WC disease by week 4 with single dose (240mg SD & 360mg SD, n=9) Strong differentiated efficacy and safety in open label extension data at 180mg Q8W • Deep and sustained UAS7 reductions observed in the OLE study at 180mg Q8W 73% CR and 82% WC disease at 12 weeks (n=11) • Safety data supports a positively differentiated safety profile at 180mg Q8W Briquilimab continues to demonstrate potential for a meaningfully differentiated efficacy and safety profile in CSU

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Jasper Therapeutics NASDAQ: JSPR July 2025