Jasper Therapeutics Reports Second Quarter 2025 Financial Results and Provides Corporate Update

Jasper Therapeutics Reports Second Quarter 2025

Financial Results and Provides Corporate Update

REDWOOD CITY, Calif., August 13, 2025 (GLOBE

NEWSWIRE) - Jasper Therapeutics, Inc. (Nasdaq: JSPR) (Jasper), a clinical stage biotechnology company focused on development

of briquilimab, a novel antibody therapy targeting c-Kit (CD117) to address mast cell driven diseases such as chronic spontaneous urticaria

(CSU), chronic inducible urticaria (CIndU) and asthma, today reported results for the fiscal quarter ended June 30, 2025 and provided

"The compelling results we are generating

in both CSU and CIndU continue to reinforce our belief that briquilimab has the potential to be a highly differentiated therapy in mast

cell-driven diseases," said Ronald Martell, President and Chief Executive Officer of Jasper. "We continue to generate strong

data, with briquilimab driving complete responses in 89% of patients across the 240 mg and 360 mg single-dose cohorts in the BEACON study

in CSU, 73% of CSU patients at 12 weeks in the open-label extension dosed at 180mg Q8W , and 92% of CIndU patients in the 180mg SPOTLIGHT

cohort. With the favorable safety and tolerability profile we continue to observe, we believe briquilimab has the potential to be an important

treatment option in chronic urticarias, and we remain well-positioned to deliver multiple catalysts over the coming quarters, which we

believe can drive meaningful benefits for patients and long-term value for stockholders."

"Our investigation into the 240mg Q8W and

the 240mg/180mg Q8W cohorts of the BEACON study, which did not demonstrate the rapid onset and deep symptom control at levels we have

observed in previous cohorts at varying dose levels, remains ongoing," said Daniel Adelman, M.D., Interim Chief Medical Officer

of Jasper. "We are pursuing a number of avenues of investigation and expect to provide an update on the status of the investigation

later this year. Meanwhile, the lack of any observed dose-limiting safety signals in these two cohorts enables us to also proceed with

redosing those patients with drug product from a different lot, as well as enrolling an additional 10-12 new patients across those cohorts.

We plan to report data from both the new patients added and the redosed patients in late 2025."

Highlights for Second Quarter 2025 and Recent Weeks

Second Quarter Fiscal 2025 Financial Results

Jasper is a clinical-stage biotechnology company

focused on developing briquilimab as a therapeutic for chronic mast cell diseases. Briquilimab is a targeted aglycosylated monoclonal

antibody that blocks stem cell factor from binding to the cell-surface receptor KIT, thereby inhibiting signaling through the receptor.

This inhibition disrupts the critical survival signal, leading to the depletion of the mast cells via apoptosis which removes the underlying

source of the inflammatory response in mast cell driven diseases such as chronic urticaria and asthma. Jasper is currently conducting

clinical studies of briquilimab as a treatment in patients with CSU, CIndU, and asthma. Briquilimab has a demonstrated efficacy and safety

profile in patients and healthy volunteers, with positive clinical outcomes in both CSU and CIndU. For more information, please visit

us at www.jaspertx.com.

Forward-Looking Statements

Certain statements included in this press release that are not historical

facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation

Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as "believe," "may," "will,"

"estimate," "continue," "anticipate," "intend," "expect," "should,"

"would," "plan," "predict," "potential," "seem," "seek," "future,"

"outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical

matters. These forward-looking statements include, but are not limited to, statements regarding briquilimab's potential, including

with respect to its potential in mast cell driven diseases such as CSU and CIndU, its potential to be a highly differentiated therapy

in mast cell-driven diseases, its potential to be an important treatment option in chronic urticarias; Jasper's ability to deliver

multiple catalysts over the coming quarters, and the possibility such catalysts may drive meaningful benefits for patients and long term

value for stockholders; Jasper's focus of its resources on the development of briquilimab in mast-cell driven diseases such as CSU

and CIndU, including halting its other clinical and preclinical programs; the expected timing of announcing additional data from the BEACON

and ETESIAN studies; the expected timing for initiating the planned Phase 2b CSU study; and the expected timing for completing the investigation

regarding an atypical lack of UAS7 reduction in certain cohorts and for providing an update on such investigation. These statements are

based on various assumptions, whether or not identified in this press release, and on the current expectations of Jasper and are not predictions

of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as,

and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability.

Many actual events and circumstances are beyond the control of Jasper. These forward-looking statements are subject to a number of risks

and uncertainties, including general economic, political and business conditions; the risk that the potential product candidates that

Jasper develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at

all; the risk that clinical trials may not confirm any safety, potency or other product characteristics described or assumed in this press

release; the risk that prior test, study and trial results may not be replicated in continuing or future studies and trials; the risk

that Jasper's investigation into the drug product lot may be inconclusive or may not lead to the anticipated conclusion; the risk

that Jasper may be unable to raise capital to continue its operations and continue the BEACON study; the risk that Jasper will be unable

to successfully market or gain market acceptance of its product candidates; the risk that prior study results may not be replicated; the

risk that Jasper's product candidates may not be beneficial to patients or successfully commercialized; patients' willingness

to try new therapies and the willingness of physicians to prescribe these therapies; the effects of competition on Jasper's business;

the risk that third parties on which Jasper depends for laboratory, clinical development, manufacturing and other critical services will

fail to perform satisfactorily; the risk that Jasper's business, operations, clinical development plans and timelines, and supply

chain could be adversely affected by the effects of health epidemics; the risk that Jasper will be unable to obtain and maintain sufficient

intellectual property protection for its investigational products or will infringe the intellectual property protection of others; and

other risks and uncertainties indicated from time to time in Jasper's filings with the SEC, including its Annual Report on Form

10-K for the year ended December 31, 2024 and subsequent Quarterly Reports on Form 10-Q. If any of these risks materialize or Jasper's

assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. While

Jasper may elect to update these forward-looking statements at some point in the future, Jasper specifically disclaims any obligation

to do so. These forward-looking statements should not be relied upon as representing Jasper's assessments of any date subsequent

to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Alex Gray (investors)

Joyce Allaire (investors)

Molly Devlin (media)