#USA #New York #Pomerantz Law Firm #Jasper Therapeutics #JSPR

Pomerantz Law Firm Files Class Action Against Jasper Therapeutics

Pomerantz LLP has announced the initiation of a class action lawsuit against Jasper Therapeutics, Inc. and several of its officers. This lawsuit is lodged in the United States District Court for the Northern District of California under docket number 25-cv-08010. It pertains to investors who purchased securities of Jasper Therapeutics between November 30, 2023, and July 3, 2025, seeking reparation for damages due to alleged violations of federal securities laws. The suit claims violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and seeks remedies as outlined by Rule 10b-5.

Background on Jasper Therapeutics

Jasper Therapeutics is a biotechnology company operating in the clinical stage, focusing on therapies aimed at treating diseases driven by mast cells, including Chronic Spontaneous Urticaria (CSU), Chronic Inducible Urticaria (CIndU), and Asthma. At the forefront of their product line is briquilimab, a monoclonal antibody created to impede the stem cell factor (SCF) from binding to the CD117 (c-Kit) receptor on mast and stem cells. The firm asserts that this blockade may eradicate mast cells across the body, resulting in substantial clinical advantages for patients afflicted with mast-cell driven diseases such as asthma and chronic urticarias.

In an effort to bolster its financial standing and support briquilimab's development, Jasper completed a significant $50 million financing round with a consortium of premier life science investors in 2024. This funding was said to extend their financial runway through the third quarter of 2025.

Clinical Studies and Product Development

In November 2023, Jasper began a Phase 1b/2a clinical trial, known as the BEACON Study, examining the efficacy of briquilimab in treating CSU. The CEO, Ronald Martell, expressed confidence in their clinical team's operational capabilities during the announcement of the first patient dosing for this study. Subsequently, they also launched another Phase 1b/2a study evaluating briquilimab for allergic asthma, termed the ETESIAN Study. Additionally, Jasper has explored the use of briquilimab as a one-time conditioning therapy for Severe Combined Immunodeficiency (SCID) patients needing a second stem cell transplant.

Regulatory and Compliance Issues

Under the Drug Supply Chain Security Act of 2013, all prescription drugs must carry a unique product identifier including a lot number. Lot numbers help in tracking pharmaceuticals during any adverse incident affecting the medication. Jasper has repeatedly indicated that the manufacture of their pharmaceuticals adheres to stringent current Good Manufacturing Practices (cGMP) requirements. However, currently, the company does not maintain its own manufacturing facilities and instead depends on third-party contract manufacturers, which has raised concerns regarding their compliance with cGMP regulations.

The class action complaint alleges that Jasper's leaders made materially false statements regarding compliance and operational practices. Apparently, they failed to ensure that the third-party manufacturers adequately followed cGMP, leading to an increased risk of inconsistent clinical study results and potential damage to the company’s financial and operational prospects.

Impact of Recent Developments

On July 7, 2025, Jasper Therapeutics published a press release that disclosed confounding issues with one of the drug product lots used in the BEACON Study. This revelation led to a sharp plummet in the company's stock value. The stock fell by $3.73, representing a staggering 55.1% decline to close at $3.04 per share. Analysts responded by downgrading Jasper's market performance rating, with BMO Capital Markets reducing their price target significantly.

Additionally, on July 9, 2025, Jasper announced a corporate reorganization along with cost-cutting measures, including laying off about 50% of its workforce to concentrate efforts on briquilimab’s development in CSU. The press release also signaled the halting of other clinical and preclinical programs, which brought prior assurances of financial stability into question.

Action for Potential Class Members

Investors who purchased or acquired securities of Jasper during the specified period are urged to contact Pomerantz LLP before the deadline on November 18, 2025. They may inquire about their opportunity to become a Lead Plaintiff in the class action suit. Interested individuals can access the complaint through Pomerantz Law Firm's website or contact attorney Danielle Peyton for further information.

Pomerantz LLP, a prestigious name in corporate and securities litigation, has a storied history, having secured billions in damages on behalf of victims of securities fraud and corporate misconduct. Their commitment to protecting the rights of investors remains steadfast. For questions or to discuss this action, contact Danielle Peyton at [email protected] or via phone at 646-581-9980.