Janux Therapeutics, Inc. (NASDAQ: JANX) has announced a proposed public offering of $300.0 million of shares of its common stock or pre-funded warrants to purchase shares of its common stock. The company also expects to grant the underwriters a 30-day option to purchase up to an additional $45.0 million of shares of its common stock.
The net proceeds from the offering will be used to advance the clinical development of Janux's internal product pipeline and for general corporate purposes.
Janux is a clinical-stage biopharmaceutical company developing tumor-activated immunotherapies for cancer, with a focus on providing safe and effective therapeutics that guide the immune system to eradicate tumors while minimizing safety concerns. The company is currently developing a broad pipeline of therapeutics directed at several targets to treat solid tumors.
Notably, Janux has two tractr therapeutic candidates in clinical trials. The first targets PSMA and is in development for prostate cancer, while the second targets EGFR and is being developed for various types of cancer including colorectal carcinoma, squamous cell carcinoma of the head and neck, non-small cell lung cancer, renal cell carcinoma, small cell lung cancer, pancreatic ductal adenocarcinoma, and triple-negative breast cancer. As a result of these announcements, the company's shares have moved -1.2% on the market, and are now trading at a price of $65.51. For the full picture, make sure to review Janux Therapeutics's 8-K report.
