Janux soars as early data of cancer drug exceeds expectations

Janux Therapeutics

03/12/2024 11:45

** Shares of Janux Therapeutics  JANX.O  rise 67.5% to
$67.34 premarket
    ** Data from early-stage trial shows all 16 patients with a
type of prostate cancer that used co's experimental drug JANX007
achieved declines in levels of prostate-specific antigens
    ** Drug also had "well-tolerated safety profile" and
"maximum tolerable dose has not yet been reached"
    ** Co selects 2 once-weekly dose regimens when expanding
early-stage trial based on results
    ** BTIG analyst Justin Zelin said investor concerns were
expectations may have been too high ahead of the results, but
JANX's data exceeded expectations and was "unprecedented"
    ** Brokerage raises PT to Street-high of $100 from $82
    ** 12 brokerages rate the stock "buy" or higher, 1 "hold";
their median PT is $70 - LSEG
    ** As of last close, stock had risen 274.5% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com;))