Jasper Therapeutics, Inc. (JSPR) Stock

Jasper Therapeutics, Inc. (JSPR) is a Healthcare stock trading at $0.46 (as of 2026-06-09), with a market capitalization of $26.29M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Jasper Therapeutics, Inc., a clinical-stage biotechnology company, develops therapeutic agents for hematopoietic stem cell transplantation and gene therapies. It focuses on the development and commercialization of conditioning agents and stem cell engineering to allow expanded use of stem cell transplantation and ex vivo gene therapy, a technique in which genetic manipulation of cells is performed outside the body prior to transplantation. The company's lead product candidate is JSP191, which is in clinical development as a conditioning antibody that clears hematopoietic stem cells from bone marrow in patients prior to undergoing allogeneic stem cell therapy or stem cell gene therapy. It is also developing engineered hematopoietic stem cells product candidates to overcome key limitations of allogeneic and autologous gene-edited stem cell grafts. The company is based in Redwood City, California.

Understand Jasper Therapeutics, Inc.: how it makes money

Jasper Therapeutics develops therapeutic agents in clinical development, including JSP191, a conditioning antibody intended to clear hematopoietic stem cells to support expanded stem cell transplantation and ex vivo gene therapy.

For a clinical-stage biotech like Jasper, the profit engine is whether trial outcomes for its therapeutic candidates are strong enough to support further development and eventual commercialization, since there is no product revenue breakdown provided here.

Business quality (Weak): Clear scientific focus on conditioning for stem cell transplantation and gene therapy, with trial-style operating metrics provided, but the company is still in development and the latest quarter shows no revenue in the provided data.

Bull case

Trial endpoints show high response rates in chronic spontaneous urticaria at 12 weeks: Complete Response Rate at 12 Weeks is listed as 58.0 percent for chronic spontaneous urticaria (Urticaria Activity Score over 7 Days Equal to 0).
Therapeutic strategy targets a specific bottleneck in stem cell transplantation and gene therapy: JSP191 is described as a conditioning antibody designed to clear hematopoietic stem cells from bone marrow, supporting expanded use of stem cell transplantation and ex vivo gene therapy.

Bear case

Commercial readiness risk remains: The company is described as clinical-stage, meaning it depends on continued successful clinical development before any sustained commercial contribution is realized.
Latest-quarter financials show losses in the provided figures: For the period ended 2026-03-31, gross margin_pct and operating_margin_pct are both negative in the provided data, and revenue_b is shown as 0.0.

Valuation — source: SEC EDGAR (first-party)
Price	$0.46
Market Cap	$26.29M
EV / EBITDA	-0.3
Price / Book	18.60
Price / Sales	28.39
FCF Yield	-229.5%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.74M
Net Margin	-4353.9%
Return on Equity	-2248.5%
Current Ratio	1.47
Revenue Growth (YoY)	-81.2%
EPS Growth (YoY)	-94.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	-19.12 (distress)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.2

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	GOLDMAN SACHS GROUP INC ($3.20M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Jeetinder Singh Mahal
Employees	64
Country	US
IPO Date	2020-01-10

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Data as of 2026-06-09.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.