Why Is Janux Therapeutics (JANX) Stock Up 108% Today?


  • Janux Therapeutics (JANX) stock is rising higher alongside interim clinical trial data.
  • The company is seeing positive efficacy and safety data from two trials.
  • This has it continuing the trials with the next update set for the second half of this year.
JANX Stock - Why Is Janux Therapeutics (JANX) Stock Up 108% Today?

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Janux Therapeutics (NASDAQ:JANX) stock is rocketing higher on Tuesday after the clinical-stage biopharmaceutical company posted interim results from two studies.

According to a press release from Janux Therapeutics, both JANX007 and JANX008 are showing encouraging efficacy and safety data in their clinical trials. JANX007 is being tested to treat metastatic castration-resistant prostate cancer, while JANX008 is being tested for treating late-stage solid tumors.

David Campbell, Ph.D., President and CEO of Janux Therapeutics, said the following about the results:

“The clinical data provide compelling proof-of-concept for the TRACTr platform in a setting where many other approaches have failed due to material safety issues or lack of efficacy. We look forward to continuing to advance these clinical trials and expanding to additional TCE targets, as we look to fulfill our mission to meaningfully address the unmet medical needs for cancer patients, especially those with late-stage disease.”

How This Affects JANX Stock

With today’s clinical trial data comes heavy trading of JANX stock this morning. That has more than 367,000 shares changing hands. This is well above the company’s daily average trading volume of about 129,000 shares.

JANX stock is up 107.5% as of Tuesday morning. Investors are likely piling into the stock with hopes for more gains in the future. That could be possible if it can continue to report positive clinical trial results on its way to commercialization. Its next update should come in the second half of 2024.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2024/02/why-is-janux-therapeutics-janx-stock-up-108-today/.

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