Janux Therapeutics (NASDAQ:JANX) just lit up the biotech world with staggering results from its Phase 1a trial of JANX007, its cutting-edge therapy for metastatic castration-resistant prostate cancer (mCRPC). The drug didn't just performit overdelivered. All 16 patients saw at least a 50% drop in PSA levels, a key cancer marker, with 63% hitting a PSA90 reduction and 31% achieving a mind-blowing PSA99 drop. Analysts are buzzing, calling the results unprecedented, and Janux stock didn't miss a beat, surging 69% this morning. That's on top of a jaw-dropping 650% climb over the past year.
Safety? Check. JANX007 was well-tolerated, with mostly mild side effects (grades 1 and 2) and nothing alarming cropping up during the trial. The company's rock-solid financials, with near-zero debtmean they've got the cash runway to push forward aggressively. Next up? Expansion trials for patients on second- and third-line therapies who haven't tried Pluvicto. UBS and Leerink Partners have already bumped their price targets to $69 and $79, respectively, as analysts adjust their sales forecasts upwardsome now seeing JANX007 hitting $3 billion in peak U.S. sales.
But this isn't just about one drug. Janux's broader TRACTr platform is shaping up to be a game-changer in oncology, and the company is hosting a virtual event today to dive deeper into its plans. CEO David Campbell is eyeing a huge opportunity to dominate in areas with major unmet needs. For investors, this could be a defining moment. Janux isn't just riding a waveit's leading one, and Wall Street is taking notice.
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