Janux surges on positive data from prostate cancer therapy trial

Janux Therapeutics

27/02/2024 15:56

(Updates)
    ** Shares of Janux Therapeutics  JANX.O  nearly triple to
$42.34, hit record high  
        ** Stock on track to add more than $1.2 billion to its
market capitalization, if gains hold 
  
    ** Co reported positive data from dose escalation portion of
early-stage trial on its therapy to treat advanced prostate
cancer
    ** JANX007 reduced PSA levels in majority of 23 dosed
patients, with deeper reductions observed at higher doses
    ** PSA is a protein produced by the prostate gland and used
as a biomarker to diagnose and follow prostate cancer
    ** Brokerage TD Cowen said the data establishes that Janux's
prostate cancer therapy, JANX007, has multi-billion-dollar
potential 
    ** Co also reported interim early-stage data for another
experimental therapy, JANX008, in advanced or metastatic solid
tumors patients
        ** Brokerage H.C. Wainwright said both drugs showed
encouraging anti-tumor efficacy and the treatments could be the
"best-in-class" if they continue to be successful in future
studies 
  
    ** Including session's gain, stock up 273.3% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))