Jasper Therapeutics Merges with Kira Pharmaceuticals, Secures $132M PIPE, Extends Runway to 2028
JSPR has more than doubled off its 52-week low of $0.315.
Summary
Jasper Therapeutics merges with Kira Pharmaceuticals in an all-stock deal and raises $132 million in a private placement, extending cash runway to 2028 and adding a pipeline of complement and immunology therapies. Existing shareholders are heavily diluted but the company avoids near-term collapse.
Key Events · M&A and Partnerships · JSPR
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Merger with Kira Pharmaceuticals
Jasper acquired Kira in an all-stock transaction, adding KP-104 (Phase 2/3-ready dual-complement inhibitor), briquilimab (late-stage anti-KIT antibody), and KP-701 (preclinical B-cell therapy) to its pipeline.
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$132M Private Placement
Concurrent PIPE of non-voting convertible preferred stock, co-led by Affinity Asset Advisors and Ikarian Capital, with each share converting into 61 common shares upon stockholder approval.
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Out-Licensing Deal with Mirador
Kira out-licensed KP-301 and KP-402 to Mirador Therapeutics for $12 million upfront plus milestones, providing non-dilutive capital and focusing the combined pipeline.
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Severe Dilution for Existing Holders
Pre-transaction Jasper stockholders will own only 6.68% of the combined company on a fully diluted basis; total pro-forma shares outstanding approximately 653.6 million.
Analysis · JSPR · Life Sciences
Jasper Therapeutics, facing a going concern warning and Nasdaq delisting risk, has executed a transformative all-stock acquisition of Kira Pharmaceuticals alongside a $132 million private placement. The deal reshapes the company's pipeline with late-stage complement and immunology assets, extends cash runway through the second half of 2028, and brings in new leadership. Existing Jasper shareholders are diluted to just 6.68% of the combined entity, but the alternative was likely insolvency. The merger and financing effectively recapitalize the company and provide a path to multiple clinical milestones, including Phase 2 data for KP-104 and a pre-BLA meeting for briquilimab.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 41.1% of the 372 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.38%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, JSPR was trading at $0.74 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $21.7M. The 52-week trading range was $0.32 to $3.52. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.