Jasper Therapeutics Sees 20% Increase in Share Price

by Warren Seah

Jasper Therapeutics experienced a significant boost in its share price, with an increase of 20% to $15.55. This surge comes after the company announced the pricing of its underwritten offering of 3.9 million shares.

Steady Growth Despite Setbacks

Despite hitting a 52-week low of $4 per share on December 13, Jasper Therapeutics has managed to maintain steady growth. Over the past 12 months, the stock has only experienced a modest 17% decline.

Significant Funding for Advancement

The offering of common stock will be sold at $12.95 per share, resulting in total proceeds of $50 million. This substantial funding will be utilized by Jasper Therapeutics to further the development of its preclinical and clinical programs. Specifically, the focus will be on advancing briquilimab in treating mast-cell driven diseases such as chronic spontaneous urticaria and chronic inducible urticaria. Additionally, the funds will support various general corporate purposes, including capital expenditures, working capital, and general and administrative expenses.

Exclusive Offering by Jasper Therapeutics

All of the common stock shares are being offered exclusively by Jasper Therapeutics itself. The completion of this offering is expected to take place on or about Thursday.

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