{"url_path":"/sec/jsprw/10-q/2026/item-1","section_key":"item-1","section_title":"Item 1 Legal Proceedings","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1788028/0001213900-26-056595-index.html","accession_number":"0001213900-26-056595","cik":"0001788028","ticker":"JSPR","issuer_name":"Jasper Therapeutics, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1788028/0001213900-26-056595-index.html","primary_entity_key":"0001788028","primary_entity_name":"Jasper Therapeutics, Inc."},"word_count":431,"has_tables":true,"body_markdown":"Item 1. Legal Proceedings\n\n \n\nWe, from time to time, may be party to litigation\narising in the ordinary course of business. On September 19, 2025, a shareholder class action complaint captioned *Grant v. Jasper\nTherapeutics, Inc., et al.* (Case No. 25-cv-08010) was filed in the United States District Court for the Northern District of\nCalifornia against us and certain of our current and former officers. The complaint alleges that certain material misstatements or omissions\nrelated to the ongoing clinical trials of briquilimab were made in violation of federal securities laws. The plaintiffs are seeking unspecified\nmonetary damages and an award of costs and expenses, including reasonable attorneys’ fees, expert fees and other costs.\nOn December 3, 2025, a stipulated order was entered appointing co-lead plaintiffs and approving their selection of co-lead counsel, and\non December 16, 2025, a stipulated order was entered setting a schedule for the filing and responses to an amended complaint. Per the\nterms of the December 16, 2025 stipulated order, an amended complaint captioned *Allard, et al. v. Jasper Therapeutics, Inc., et al.*\n(Case No. 25-cv-08010) was filed, and defendants’ motion to dismiss was filed on April 20, 2026.\n\n \n\nIn addition, on November 5, 2025, a shareholder\nderivative complaint captioned *Bardauskas v. Martell, et al*. (Case No. 25-cv-09561) was filed in the United States District Court\nfor the Northern District of California, and on December 22, 2025, another shareholder derivative complaint was filed in the same court\nand captioned *Walsh v. Martell, et al.* (Case No. 25-cv-10899).  The derivative complaints name as defendants certain of our\ncurrent and former officers and directors, and allege claims related to the allegations raised in the shareholder class action complaint.\nOn January 21, 2026, a stipulated order was entered, among other things, consolidating and staying the derivative actions. We believe\nthe claims raised in these lawsuits are without merit, and intend to defend these matters vigorously. However, there can be no assurance\nthat we will prevail. We are unable to determine whether any loss ultimately will occur or to estimate the range of such loss; therefore,\nno amount of loss has been accrued in our financial statements as of and for the three months ended March 31, 2026. Regardless of outcome,\nlitigation can have an adverse impact on us due to costs involved, diversion of management resources, negative publicity, reputational\nharm, and other factors.\n\n \n\nWe believe that we are not currently a party to\nany other legal proceedings which, individually or in the aggregate, would have a material adverse effect on our consolidated financial\nposition, results of operations or cash flows."}