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.
Investors who want more of the most recent stock market stories will want to stick around!
We have all of the latest stock market stories ready to go on Tuesday morning! That includes the biggest pre-market stock movers this morning, the latest news concerning Lucid Motors (NASDAQ:LCID) stock and more. All of that info is ready to go at the links below!
More Tuesday Stock Market News
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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.
