Jasper Therapeutics, Inc.

Item 1. Legal Proceedings

We, from time to time, may be party to litigation arising in the ordinary course of business. On September 19, 2025, a shareholder class action complaint was filed in the United States District Court for the Northern District of California captionedGrant v. Jasper Therapeutics, Inc., et al. (Case No. 25-cv-08010) against us and certain of our current and former officers. The complaint alleges that certain material misstatements or omissions related to the ongoing clinical studies of briquilimab were made in violation of federal securities laws. The plaintiffs are seeking unspecified monetary damages and an award of costs and expenses, including reasonable attorneys’ fees, expert fees and other costs. In addition, on November 5, 2025, a shareholder derivative complaint was filed in the United States District Court for the Northern District of California captionedBardauskas v. Martell, et al. (Case No. 25-cv-09561) against certain of our current and former officers and directors. The derivative complaint alleges claims related to the allegations raised in the shareholder class action complaint. We believe these claims are without merit, and we intend to defend these matters vigorously. However, there can be no assurance that we will prevail. We are unable to determine whether any loss ultimately will occur or to estimate the range of such loss; therefore, no amount of loss has been accrued by us in our financial statements as of and for the quarter ended September 30, 2025. Regardless of outcome, litigation can have an adverse impact on us due to costs involved, diversion of management resources, negative publicity, reputational harm, and other factors.

We believe that we are not currently a party to any other legal proceedings which, individually or in the aggregate, would have a material adverse effect on its consolidated financial position, results of operations or cash flows.