Shares of Jasper Therapeutics (NASDAQ:JSPR) shot up in Friday’s trading thanks to Phase 1 results on its new treatment for blood cancer. Known as briquilimab, it’s designed to target two specific maladies: myelodysplastic syndrome and acute myeloid leukemia. Results from the Phase 1 trial revealed “durable remissions” for two out of three patients with leukemia.
All eight of the 12 patients treated were free of relapses after a full year went by. Meanwhile, briquilimab, when added to a combined treatment of fludarabine and low-dose irradiation, produced even better results.
Jasper’s CEO, Ronald Martell, revealed what was perhaps the best part. Martell noted that the use of briquilimab has the potential to augment stem cell transplants in taking on both “malignant and rare diseases.” Finally, just to round it out, Jasper’s briquilimab can even offer cost savings for healthcare operations when used as part of a combination treatment approach.
Jasper isn’t just getting love from investors, either. Wall Street has also parked some healthy support behind Jasper stock. Analyst consensus unanimously calls Jasper stock a Strong Buy with 243.41% upside potential thanks to its average share price target of $6.25.
