BUZZ-Jasper Therapeutics rises as BTIG initiates with 'buy' rating

Reuters07-08

** Shares of drug developer Jasper Therapeutics rise 11.5% to $23.58

** Brokerage BTIG initiates coverage with "Buy" rating and sets PT of $90, representing a four-fold upside to stock's last close

** Says co's experimental drug briquilimab is a product with attractive market potential in addressing chronic urticaria, a large market not well served by available therapies

** Briquilimab is currently in development to treat chronic urticaria or hives - a skin rash

** Says briquilimab could be positively differentiated from other therapies "on safety, efficacy, and a more convenient and less frequent dosing regimen, offering competitive commercial advantages" - BTIG

** Co to start an early-stage study to test briquilimab in asthma patients which BTIG says is attractive expansion opportunity and "is underappreciated and not currently reflected in the stock"

** Brokerage says it sees potential for briquilimab to be used in additional immunology and inflammatory indications that could drive further upside

** Including session moves, stock more than doubled YTD

(Reporting by Sneha S K in Bengaluru)

((Sneha.SK@thomsonreuters.com;))

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