Janux Therapeutics Surges Over 60% on Promising Prostate Cancer Drug Results

Janux Therapeutics (NASDAQ: JANX) reported groundbreaking results from its trial of a new drug for heavily pretreated patients with metastatic prostate cancer. After 12 weeks of treatment, all 16 participants experienced at least a 50% decline in prostate-specific antigen (PSA) levels, a key marker for prostate cancer.

Key Findings: Significant PSA Reductions: 10 out of 16 patients saw PSA levels drop by 90% and 5 patients achieved a 99% reduction.

Sustained Results: 75% of patients maintained a 50% decline in PSA and 50% sustained a 90% decline for over 12 weeks.

Analyst Reactions: “Unprecedented” Results: Wedbush analyst Robert Driscoll praised the trial outcomes as unparalleled.

Sales Potential Upgraded: William Blair analyst Matt Phipps increased the estimated U.S. peak sales for JANX007 from $1.7 billion to $3 billion, citing the drug’s improving clinical profile.

The data indicates JANX007’s potential as a breakthrough treatment in metastatic prostate cancer, exceeding investor expectations and bolstering its market outlook. Shares have surged over 68% on the news.