Overview
- Shares fell as much as roughly 48% to a 52-week low after Janux released an interim update from its Phase 1 JANX007 program in metastatic castration‑resistant prostate cancer.
- The readout showed partial responses in 30% of 27 RECIST‑evaluable patients, 73% PSA50 and 26% PSA90 among 89 patients who received two doses, and median rPFS of about 7.3 months overall with 7.9–8.9 months in expansion cohorts.
- Janux described safety as manageable and reported a revised dosing protocol with no serious cytokine release syndrome and only one mild case, with most CRS events grade 1–2 and confined to cycle 1.
- Comparisons to Novartis’s approved Pluvicto, which reported a 49% response rate and 11.6 months median PFS in later‑stage data, intensified concerns about competitive differentiation.
- Stifel, H.C. Wainwright, Clear Street and Wedbush lowered price targets but largely maintained positive ratings, while William Blair called the selloff an overreaction and cited potential in advancing dose regimens and earlier‑line patients.