Jasper Therapeutics (JSPR) said Monday that its board has launched a comprehensive review of strategic alternatives, including a potential sale of assets, licensing deals, collaborations, merger, business combination, sale of the company or an orderly wind-down of operations.

The clinical-stage biotech company, which is developing briquilimab for mast cell-driven diseases, said it is also evaluating cost-saving measures to preserve cash while maintaining regulatory and financial reporting compliance.

Jasper noted there is no set timeline for the review process and no assurance that it will result in a transaction or other strategic outcome.