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Jones Trading has initiated Janux Therapeutics (NASDAQ:JANX) at buy citing the promise behind the technology of the company's two lead programs, both in phase 1 for various solid tumors.
The firm has a $70 price target (~35% upside based on Monday's close).
Analyst Soumit Roy likes Janux's T cell engaging (TCE) assets and masking technology. On its website, the company notes that the masking technology is used the develop candidates that "are designed to overcome the traditional TCE toxicity and efficacy limitations."
"Janux's TRACTr platform uses masking of binding epitope to cancer cells and/or T cells, along with half-life extending albumin binding domain," Roy wrote.
He added that the company's technology potentially provides better cancer cell targeting and "albumin binding has improved PK/PD profile, allowing for better drug uptake, longer half-life and removed the need for continuous infusion."
JANX007, JANX's (JANX) most advanced candidate, targets PSMA in metastatic prostate cancer. JANX008, which targets EGFR, is under investigation for several indications, colorectal cancer, renal cell carcinoma, and non-small cell lung cancer. Roy projects peak sales of ~$1.5B n 2037 for JANX007, and $1.8B in 2038 for JANX008.
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