Analyst Oliver McCammon of LifeSci Capital maintained a Buy rating on Janux Therapeutics Inc, retaining the price target of $100.00.
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Oliver McCammon has given his Buy rating due to a combination of factors related to Janux Therapeutics Inc’s recent clinical trial results and their potential implications. The company announced updated interim data from their Phase 1a trial and preliminary data from the Phase 1b expansion cohort, which are testing their T cell engager, JANX007, for treating metastatic castration-resistant prostate cancer (mCRPC). The data suggests that JANX007 may offer competitive progression-free survival (PFS) results compared to existing treatments, particularly in heavily pretreated patient populations.
McCammon notes that while the current results are promising, especially in terms of durability, the full potential of JANX007 will become clearer with future data updates. The early positive direction of the PSA results from the Phase 1b cohort indicates that JANX007 could improve outcomes in taxane-naive mCRPC patients. Additionally, the company’s strong financial position, with over eight years of cash runway, supports its ability to continue advancing its clinical programs, contributing to the Buy rating.
In another report released on November 25, H.C. Wainwright also reiterated a Buy rating on the stock with a $70.00 price target.