Overview

A class action lawsuit has been filed against Jasper Therapeutics, Inc. (“Jasper” or the “Company”) and certain of the Company’s current and former senior executive officers alleging violations of the federal securities laws. The Company’s common stock trades in an efficient market on the Nasdaq Capital Market (“NASDAQ”) under the ticker symbol “JSPR.”

The Jasper class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Jasper securities between November 30, 2023 and July 3, 2025, both dates inclusive, (the “Class Period”).

Jasper is a clinical-stage biotechnology company developing therapeutics for mast cell–driven diseases, including Chronic Spontaneous Urticaria (CSU), Chronic Inducible Urticaria (CIndU), and asthma. Its lead product candidate, briquilimab, is designed to block stem cell factor (SCF) from binding to the CD117 (c-Kit) receptor, with the goal of depleting mast cells in the body and providing clinical benefit. Jasper launched the Phase 1b/2a BEACON Study for CSU in November 2023 and the Phase 1b/2a ETESIAN Study for asthma in December 2024, while also testing briquilimab as conditioning therapy for SCID patients. To support this development, Jasper raised $50 million in an oversubscribed 2024 financing round, claiming the funding extended its cash runway into late 2025. The company relied on third-party contract manufacturers, asserting compliance with current Good Manufacturing Practices (cGMP), as required under the Drug Supply Chain Security Act (DCSA).

The lawsuit alleges that Jasper made materially false and misleading statements by overstating its controls over manufacturing, failing to ensure third-party manufacturers complied with cGMP, and misrepresenting the reliability of briquilimab’s prospects. These deficiencies increased the risk of confounded study results, inflated Jasper’s financial outlook, and created undisclosed risks of cost-cutting and program halts.

On July 7, 2025, Jasper revealed that results in certain BEACON cohorts were compromised by a defective drug-product lot used to dose most patients. The same lot had also been used in the ETESIAN Study, leading the company to halt asthma development. Jasper further announced it was halting SCID work, investigating the defective lot, and initiating cost-cutting measures—contradicting prior assurances about its cash runway. The stock price dropped 55.1% that day, and BMO Capital downgraded the company, cutting its price target and citing drug lot concerns, dose-response uncertainty, financing overhang, and competition.

After the class period, Jasper announced a corporate reorganization on July 9, 2025, including a 50% workforce reduction, termination of all other clinical and preclinical programs, and the resignation of its Chief Medical Officer, Edwin Tucker. The lawsuit claims that class members suffered significant losses when these undisclosed risks materialized and the company’s true prospects came to light.

*          *          *

If you purchased or otherwise acquired Jasper securities between November 30, 2023 and July 3, 2025, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as lead plaintiff in the Jasper class action lawsuit is November 18, 2025.