- Jasper Therapeutics ( NASDAQ: JSPR ) on Tuesday said it would focus on the development of its lead product candidate briquilimab as part of an overall portfolio prioritization.
- Shares of the clinical-stage biotech rose 17% to $1.86 after the opening bell.
- It is worth noting that JSPR stock rocketed higher by more than 400% last week on early-to-mid stage data on briquilimab for blood disorders.
- After JSPR's massive climb, the stock corrected in the next three sessions before gaining again yesterday.
- JSPR in Tuesday's statement said that it would focus on developing briquilimab for a new program on chronic urticaria, which is when the body's immune system attacks its own tissues.
- Briquilimab will also be developed for the company's existing programs for lower-risk myelodysplastic syndrome, sickle cell disease, Fanconi anemia and severe combined immunodeficiency.
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Jasper Therapeutics to prioritize development of lead drug briquilimab, shares jump 17%