TD Cowen downgraded Jasper Therapeutics to Hold from Buy without a price target. The company is \"now at a critical juncture,\" the analyst tells investors in a research note. The firm says Jasper has $14M cash with a current burn rate of $11M in Q1. While the company wrapped up all non-chronic spontaneous urticaria programs and has weaned down to 16 employees, this only provides up to two quarters of cash, and could hinder its ability to execute, contends TD. The firm sees risk that Jasper will not be able to raise sufficient capital.
