Janux Therapeutics initiated with an Outperform at Leerink

TipRanks

Sat, Nov 23, 2024, 4:21 AM 1 min read

Leerink initiated coverage of Janux Therapeutics (JANX) with an Outperform rating and $79 price target Janux’s TRACTr platform solves the therapeutic window problem that has historically plagued T-cell engagers in solid tumors, by effectively “masking” their biologic’s activity outside the tumor while enabling activation within the tumor, improving efficacy, the analyst tells investors in a research note. Phase 1 dose-escalation data reported to date, while early, support a best-in-class and competitive cross-class clinical profile, and if further validated, JANX007’s product attributes, including exceptional safety and immune mechanism, would present a welcome addition to the prostate cancer armamentarium and effectively compete with prostate-specific membrane antigen radioligand therapy, including Pluvicto, and antibody-drug conjugate, Leerink says.