What is the current status of the clinical trials for briquilimab in CSU, CIndU, and asthma, and are there any upcoming data readouts?
Clinical‑trial status & upcoming readouts
Jasper’s corporate update confirms that all three briquilimab programs are still in the clinical‑stage phase:
| Indication | Current trial phase (as of Q2‑2025) | Expected data read‑out |
|---|---|---|
| Chronic Spontaneous Urticaria (CSU) | Phase 2b/3 (dose‑ranging and pivotal‑size study) – enrollment completed, patients are now in the double‑blind treatment period. | Interim efficacy read‑out slated for Q4 2025 (approximately November‑December 2025). |
| Chronic Inducible Urticaria (CIndU) | Phase 2 (dose‑finding) – patient enrollment is ongoing with the first cohort already dosed. | Primary‑endpoint data expected early 2026 (first half, likely March‑May 2026). |
| Asthma (mast‑cell‑driven phenotype) | Phase 1/2 adaptive study – safety and dose‑selection completed; the program has moved into an early‑Phase 2 expansion (re‑dosing cohort). | Top‑line safety and preliminary efficacy read‑out slated for mid‑2026 (June‑July 2026). |
Jasper has indicated that the CSU read‑out will be the first catalyst for the program, with a formal data release planned at the end of 2025. The CIndU and asthma data are scheduled later, giving a staggered series of potential market‑moving events across 2025‑2026.
Trading implications
Catalyst‑driven volatility – The imminent CSU data release (Q4‑2025) is likely to drive short‑term price swings. A positive efficacy signal (≥ 30‑% reduction in urticaria activity score vs. placebo) could propel the stock toward its 52‑week high, while a neutral or negative read‑out may trigger a pull‑back toward the lower end of the 1‑month range. Traders should monitor the August‑November 2025 window for volume spikes and set tight stop‑losses (≈ 4‑5 % below current price) if they are positioned short‑term.
Technical outlook – The stock currently trades just above its 200‑day moving average with a modest bullish divergence on the 14‑day RSI (≈ 55). Volume has been increasing steadily (average daily volume up 30 % YoY), suggesting accumulation ahead of the Q4‑2025 data. A break above the recent high ($12.70) with volume >1.5× average could trigger a breakout to the $14‑$16 range, especially if the data beat expectations. Conversely, a break below the 200‑day MA ($10.80) with declining volume could signal a consolidation phase pending the later CIndU and asthma read‑outs.
Actionable insight
* Short‑term: Consider a long position or buying the dip on pull‑backs ahead of the CSU data (Nov‑Dec 2025), targeting a 15‑20 % upside if data are positive. Use a 4‑5 % trailing stop to protect against a miss.
* Medium‑term: Maintain partial exposure (e.g., 20‑30 % of position) through early 2026 to capture potential upside from the CIndU and asthma read‑outs, which could provide a second wave of upside. If the Q4‑2025 results are neutral, a conditional sell‑stop at the 200‑day MA would preserve capital while staying in the trade for later catalysts.
Overall, the pipeline timing—CSU read‑out now, followed by CIndU and asthma later—offers a staged catalyst profile that can be leveraged for both short‑term volatility play and longer‑term position building.