** Shares of Janux Therapeutics JANX.O gain >7% on Thurs after co raises more equity than targeted in follow-on offering
** JANX shares rise as much as 7.3% to $71.71, surpassing prior record intraday high of $71.25 hit on Tues. Stock last up 1.4% at $67.79
** Co late Weds announced pricing ~5.6 mln shares, including pre-funded warrants to buy 238,095 shares, at $63 for $350 mln gross proceeds
** Shares soared 49% to close at $59.86 on Tues, a day after data for co's drug to treat prostate cancer exceeded expectations in early-stage study
** After the bell Tues, co commenced $300 mln offering
** Co plans to use net offering proceeds to advance clinical development of its internal pipeline products, and for general purposes
** BofA, TD Cowen, Stifel and William Blair are jt bookrunners
** Prior to offering, co had ~52.3 mln shares outstanding for about $3.5 bln market cap
** Stock ended 2023 at $10.73
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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