Janux Stock Is Rising Pre-Market After A New Oncology Deal With Bristol Myers Squibb

• Under the agreement, Janux will manage preclinical development through IND submission.
• Bristol Myers Squibb will hold the IND, oversee subsequent clinical development, and lead global commercialization efforts.
• The deal provides Janux with up to $50 million in upfront and near-term milestone payments.

Janux Therapeutics, Inc. (JANX) announced on Thursday that it has entered a strategic collaboration with Bristol Myers Squibb to advance the development of a new tumor-activated therapy. 

The partnership focuses on a yet-to-be-disclosed solid tumor target expressed across multiple cancer types, aiming to expand treatment options for patients worldwide.

Collaboration Details

Under the agreement, Janux will manage preclinical development through IND submission, whileBristol Myers Squibb will hold the IND, oversee subsequent clinical development, and lead global commercialization efforts. 

The collaboration ensures Janux remains actively engaged, supporting the completion of the first Phase 1 clinical study alongside Bristol Myers Squibb.

“This collaboration marks a significant milestone for Janux, validating the strength of our tumor-activated platforms and expanding our reach in solid tumor oncology.” 

- David Campbell, President and CEO, Janux

Following the announcement, Janux Therapeutics’ stock traded over 8% higher in Thursday’s premarket. On Stocktwits, retail sentiment around the stock jumped to ‘bullish’ from ‘bearish’ territory the previous day. Message volume shifted to ‘high’ from ‘low’ levels in 24 hours. 

Financial Terms

The deal provides Janux with up to $50 million in upfront and near-term milestone payments. Additional development, regulatory, and commercial milestones could total roughly $800 million. Additionally, Janux will receive tiered royalties on worldwide product sales, giving the company potential long-term revenue streams if the therapy succeeds.

This tie-up will use Janux’s proprietary technologies, including its Tumor Activated T Cell Engager (TRACTr), Tumor Activated Immunomodulator (TRACIr), and Adaptive Immune Response Modulator (ARM) platforms. These platforms are designed to enhance the immune system targeting of tumors while minimizing off-target effects.

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