H.C. Wainwright lowered the firm’s price target on Janux Therapeutics (JANX) to $45 from $70 and keeps a Buy rating on the shares after the company announced updated interim results from its ongoing Phase 1 study evaluating JANX007 in metastatic castration-resistant prostate cancer. The overall efficacy profile deteriorated on key endpoints, the analyst tells investors in a research note. H.C. Wainwright believes the JANX007 update “were mixed,” and feels the drug will likely be a “show me” story until the dataset matures.
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