Jasper Therapeutics, Inc. (JSPR) stock: Climbs on Kira Merger and $132M Raise as Pipeline Consolidates

TLDR

• Jasper Therapeutics completes Kira merger, raises $132M for pipeline growth.
• Combined firm targets PNH, transplant, and autoimmune disease programs ahead.
• KP-104 renal trial data and FDA meetings expected in late 2026.
• Briquilimab and KP-701 advance toward BLA and IND filings in 2027.
• Jasper Therapeutics posts $2.8M net loss, funds operations through 2028.

JSPR shares changed hands at $0.8223 on Friday, down 4.73% intraday. The move comes despite the completed merger with Kira Pharmaceuticals and a fresh $132 million financing round. Jasper Therapeutics now controls a combined pipeline spanning complement and antibody therapies for immune-mediated diseases.

Jasper Therapeutics, Inc., JSPR

Kira Merger and $132 Million Financing

Jasper Therapeutics completed its acquisition of Kira Pharmaceuticals on July 16, 2026. The deal combined two clinical-stage biotech firms through an all-stock transaction. Kira previously operated as a Cayman-based company focused on complement therapies.

Jasper Therapeutics simultaneously closed a private placement of non-voting convertible preferred stock. Affinity Asset Advisors and Ikarian Capital co-led the round, and other life science investors joined. The financing generated roughly $132 million in gross proceeds for the combined company.

President and CEO Jeet Mahal said the merger unites Jasper Therapeutics and Kira Pharmaceuticals around a shared mission. He noted the capital extends the runway through the second half of 2028. Mahal added that the combined firm now holds resources across the United States and China.

Consolidated Pipeline Advances Toward Key Milestones

Jasper Therapeutics is advancing KP-104, also known as vensobafusp alfa, as its lead complement asset. The bifunctional biologic targets both the alternative and terminal complement pathways. Researchers are testing KP-104 in a Phase 2 basket trial for rare renal disorders.

Interim data from Stage 1 of that trial should arrive in the fourth quarter of 2026. Jasper Therapeutics also plans an end-of-Phase 2 meeting with the FDA. The company expects to announce next steps for paroxysmal nocturnal hemoglobinuria treatment in early 2027.

Briquilimab, a late-stage anti-KIT antibody, remains central to the transplant and immunology programs. Positive long-term data in SCID patients support a planned pre-BLA meeting with regulators. The company also targets a Phase 1 filing for KP-701 in early 2027.

Second Quarter Financial Results

Jasper Therapeutics reported cash and cash equivalents of $7.3 million as of June 30, 2026. Research and development expense reached $5.1 million for the quarter. General and administrative costs totaled $4.1 million during the same period.

The company posted a net loss of $2.8 million for the second quarter. That figure equals a basic and diluted loss of $0.10 per share. Jasper Therapeutics attributed spending to continued clinical development across its pipeline.

The recent $132 million raise now supplements these quarterly figures significantly. Combined with Kira’s assets, the company enters the second half of 2026 with more resources. Jasper Therapeutics aims to fund operations through 2028 without additional financing.

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