JANX Stock Edges Up After Hours After Discontinuing Cancer Program In Favor Of Remaining Pipeline

• While durable responses were observed in select patients through extended follow-up, the overall magnitude and consistency of activity were not sufficient to support continued development relative to other pipeline programs, it said. 
• However, the experimental therapy demonstrated a differentiated tolerability profile with fewer gastrointestinal, dermatologic, and subcutaneous adverse events as compared to other drugs belonging to its category. 
• The company also clarified that the decision to discontinue JANX008 is program-specific and part of its efforts to prioritize parts of its portfolio.

Shares of Janux Therapeutics, Inc. (JANX) edged up 1% after hours after the company said on Monday that it will discontinue development of its experimental program called JANX008 to focus its resources on its remaining pipeline.

The company said that it came to the decision after completing early-stage trials across multiple solid tumor indications and an internal review of the data. While durable responses were observed in select patients through extended follow-up, the overall magnitude and consistency of activity were not sufficient to support continued development relative to other pipeline programs, it said.

However, the experimental therapy demonstrated a differentiated tolerability profile with fewer gastrointestinal, dermatologic, and subcutaneous adverse events as compared to other drugs belonging to its category, the company said. Overall safety profile also allows for outpatient dosing, the company noted.

The company also clarified that the decision to discontinue JANX008 is program-specific and part of its efforts to prioritize parts of its portfolio.

“Our decision to discontinue JANX008 reflects the disciplined approach we take to advancing our pipeline,” said David Campbell, Ph.D., President and Chief Executive Officer of Janux. “We evaluate each program against a high bar for safety, activity, and differentiated profile. We prioritize resources toward programs that meet these criteria and offer opportunities to deliver best-in-class outcomes.”

Janux is currently also evaluating other experimental drugs for the treatment of prostate cancer as well as autoimmune diseases. Earlier this month, the company said that it dosed the first participant in an early-stage study of JANX014, one of its candidates for prostate cancer.

How Did Retail Traders React?

On Stocktwits, retail sentiment around JANX fell from ‘neutral’ to ‘bearish’ territory over the past 24 hours, while message volume remained at ‘high’ levels.

JANX stock has fallen 53% over the past 12 months. 

Read More: CRMD Stock Jumps As Antifungal Drug Clears Key Trial For $2B Preventive Market

For updates and corrections, email newsroom[at]stocktwits[dot]com.