Jasper Therapeutics, Inc. (JSPR) AI Stock Summary

Snapshot

Jasper is a pre-revenue clinical-stage biotech that lost $75.8M in FY 2025 and burned $77.2M in free cash flow, against $28.7M in cash on hand. Share count jumped 31% YoY even before a July 2026 all-stock merger with Kira Pharmaceuticals that will leave legacy shareholders with only about 6.68% of the combined company. A $132M raise tied to that deal is meant to fund operations into late 2028, but Nasdaq has also warned the stock could be delisted if its price doesn't recover above $1.

What's Happening Right Now

• Mon 31st Aug '26 · Annual meeting: At its July 31, 2026 annual meeting, Jasper shareholders elected two directors, ratified PricewaterhouseCoopers as auditor, and approved executive pay with strong support and no contested items.
• Mon 24th Aug '26 · CVR: Jasper confirmed shareholders of record on July 16, 2026 received Contingent Value Rights tied to a possible $30 million payment if the FDA grants a priority review voucher for briquilimab by the end of 2028.
• Fri 14th Aug '26 · Earnings: In its Q2 2026 update, Jasper said the Kira deal and $132M PIPE financing give the combined company capital to fund operations through the second half of 2028, while reporting a quarterly net loss of $2.8 million.
• Wed 22nd Jul '26 · Merger: Jasper completed an all-stock acquisition of Kira Pharmaceuticals and closed a $132M private placement; legacy Jasper shareholders will retain only about 6.68% of the combined company, which will have roughly 653.6 million shares outstanding.
• Mon 20th Jul '26 · Offering: Raised $132.00M in gross proceeds through a private placement (PIPE).
• Thu 16th Jul '26 · Offering: Closed an offering. Proceeds are not disclosed in the filings reviewed.
• Tue 9th Jun '26 · Delisting notice: Nasdaq notified Jasper on June 3, 2026 that its stock failed to maintain the $1.00 minimum bid price for 30 straight days, giving the company until November 30, 2026 to regain compliance or face possible delisting.
• Wed 31st Dec '25 · ATM sale: Sold 1.23M shares through its at-the-market program.

Ownership

Institutions hold 48.9%, insiders hold 2.3%.

Bottom Line

Jasper has no product revenue and has posted growing annual losses for years, and its July 2026 merger with Kira Pharmaceuticals came with severe dilution, leaving original shareholders with roughly 6.68% of a company now expected to have over 650 million shares outstanding. The $132M raised alongside the deal is meant to extend the cash runway into late 2028, but Nasdaq has separately warned the stock could be delisted if it doesn't get back above a $1.00 price. This is a name where the underlying financial picture and the corporate structure have both changed dramatically in the last few months, and a reader would need to dig into the newly combined pipeline to understand what's actually being valued here.