Business
Janux Therapeutics Reports Second Quarter 2023 Financial Results and Business Highlights
Presented positive interim Phase 1 clinical trial data for PSMA-TRACTr JANX007 in prostate cancer Management team bolstered with key appointment $303.3
About this update from Janux Therapeutics, Inc.
[{"type":"text","content":"\n\nPresented positive interim Phase 1 clinical trial data for PSMA-TRACTr JANX007 in prostate cancer\n\n\n\nManagement team bolstered with key appointment\n\n\n\n$303.3 million in cash, cash equivalents, and short-term investments at end of second quarter 2023\n\n\n\nIn July, further strengthened balance sheet with approximately $60 million offering\n\n\n\n SAN DIEGO--(BUSINESS WIRE)--\nJanux Therapeutics, Inc. (Nasdaq: JANX) (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr) and Tumor Activated Immunomodulator (TRACIr) platforms, today reported financial results for the second quarter ended June 30, 2023, and provided a business update.\n\n\n“The combination of our positive proof of principle interim clinical data from JANX007 and our ability to secure additional capital gives us confidence to drive forward the next wave of assets from our TRACTr and TRACIr portfolios,” said David Campbell, Ph.D., President and CEO of Janux. “We continue to believe we can leverage our technology to rapidly identify exciting targets, develop differentiated molecules against those targets, and advance those programs into the clinic, creating value for Janux, and more importantly new meaningful therapies for cancer patients.”\n\n\nRECENT BUSINESS HIGHLIGHTS AND FUTURE MILESTONES:\n\n\n\nPresented positive interim Phase 1 clinical trial data for PSMA-TRACTr JANX007 in prostate cancer in July 2023.\n\n\nPSMA-TRACTr clinical data consistent with TRACTr mechanism-of-action\n\n\n\nMeaningful PSA drops coupled with manageable safety and cytokine release syndrome (CRS) profile\n\n\n\nPK exposure demonstrated TRACTr activation with lack of T cell engager (TCE) accumulation\n\n\n\nNo significant treatment-emergent anti-drug antibody (ADA) titers observed\n\n\n\n\n\n\n\nGross proceeds of approximately $60 million (before deducting underwriting discounts, commissions and other offering expenses) raised in an underwritten offering of common stock and pre-funded warrants in July 2023.\n\n\nJanux plans to deploy these funds to advance another program into clinical trials and advance additional preclinical programs\n\n\n\n\n\n\n\nStrengthened management team with the appointment of Dr. Zachariah (“Zach”) McIver as Vice Pres...