** 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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