#United States #California #Pomerantz LLP #Jasper Therapeutics #JSPR

Pomerantz Law Firm Takes Action Against Jasper Therapeutics

On October 3, 2025, Pomerantz LLP announced the initiation of a class action lawsuit against Jasper Therapeutics, Inc. (NASDAQ: JSPR) and several of its executive officers. This lawsuit, which has been officially filed in the United States District Court for the Northern District of California, aims to represent all individuals and entities—excluding the defendants—who purchased or otherwise obtained Jasper securities during the Class Period from November 30, 2023, to July 3, 2025. The lawsuit seeks restitution for damages allegedly caused by violations of federal securities laws, specifically under Section 10(b) and Section 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.

If you are an eligible investor, you have until November 18, 2025, to request the Court appoint you as Lead Plaintiff for the class. Details about the complaint can be found at Pomerantz Law Firm's website. For inquiries regarding this lawsuit, interested parties can reach out to Danielle Peyton via email at [email protected] or by phone at 646-581-9980 (or toll-free at 888-4-POMLAW), extension 7980.

Background on Jasper Therapeutics

Jasper operates as a clinical-stage biotechnology company with a focus on developing therapeutics for mast cell-driven diseases, including Chronic Spontaneous Urticaria (CSU), Chronic Inducible Urticaria (CIndU), and asthma. The flagship product of Jasper is briquilimab, a monoclonal antibody designed to inhibit the activity of stem cell factor (SCF) by blocking its communication through the CD117 (c-Kit) receptor. The company asserts that targeting the SCF/c-Kit pathway may reduce mast cell presence in the body, leading to clinically significant advancements for patients suffering from these conditions.

In 2024, Jasper secured $50 million through an oversubscribed financing round involving notable life science investors, claiming this would extend its cash reserves through the third quarter of 2025.

In November 2023, Jasper commenced a Phase 1b/2a clinical study of briquilimab for CSU, called the BEACON Study. Following the first patient dosing, CEO Ronald Martell expressed confidence in their clinical team's ability to progress with briquilimab into further clinical trials. By December 2024, they were advancing the drug into trials for allergic asthma, referred to as the ETESIAN Study. Additionally, Jasper aimed to explore briquilimab as a one-time conditioning treatment for patients with severe combined immunodeficiency (SCID) undergoing subsequent stem cell transplants.

Regulatory and Compliance Allegations

According to allegations made in the complaint, Jasper and its leaders made numerous materially false and misleading statements regarding the company’s business frameworks, operational capacities, and compliance with regulatory practices. Notably, the lawsuit details shortcomings in ensuring suitable manufacturing practices by third-party organizations responsible for producing drug candidates under Current Good Manufacturing Practices (cGMP) regulations.

These missteps reportedly elevated risks that could skew ongoing clinical study results, jeopardizing the commercial viability of their products, particularly briquilimab. Further claims state that the company’s earlier assertions regarding its financial stability and long-term prospects were misleading, highlighting a disconnect between public assertions and actual operational realities.

On July 7, 2025, Jasper released updated findings from the BEACON Study, revealing issues linked to one particular drug lot that affected patient outcomes. This prompted a reevaluation of their other studies and the announcement of significant cost-cutting measures, including layoffs, to extend their financial viability. Following this disclosure, Jasper's stock experienced a dramatic decline of over 55.1%, closing at $3.04 per share.

Market analysts promptly reacted, with BMO Capital Markets downgrading Jasper's stock to a more pessimistic stance, revising their price target due to the compounded issues surrounding briquilimab's lot problems and ongoing market competition.

Conclusion

The class action initiated by Pomerantz LLP may have significant repercussions for Jasper Therapeutics and those involved in the company's operations. As the litigation unfolds, it highlights the critical importance of transparency and compliance in the biotech sector, particularly in the management of clinical trials and investor communications. Stakeholders and interested parties should keep abreast of developments in this case as it could set important precedents for future securities litigation in the biotechnology realm.

For more information on Jasper Therapeutics, Pomerantz LLP, and details regarding the ongoing lawsuit, visit the firm's website or reach out to the provided contacts directly.