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Janux Therapeutics launches $175 million stock offering

EditorNatashya Angelica
Published 02/27/2024, 05:58 PM
Updated 02/27/2024, 05:58 PM
© Reuters.

SAN DIEGO - Janux Therapeutics, Inc. (NASDAQ: JANX), a biopharmaceutical company specializing in cancer immunotherapies, announced today the initiation of a public offering of its common stock valued at $175 million.

The clinical-stage company also plans to offer underwriters a 30-day option to purchase up to an additional $26.25 million in common stock. The completion and terms of the offering are subject to market conditions.

The underwriting syndicate is led by BofA Securities, TD Cowen, Cantor Fitzgerald & Co., and William Blair & Company, L.L.C., serving as joint book-running managers.

Janux intends to allocate the net proceeds from this offering towards further clinical development of its internal product pipeline, which includes a series of Tumor Activated T Cell Engager (TRACTr) and Tumor Activated Immunomodulator (TRACIr) therapeutics, in addition to general corporate purposes.

The securities are being offered under a previously filed and effective Registration Statement on Form S-3 with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC and made available on the SEC's website.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities, nor will there be any sale of these securities in any jurisdiction where such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that jurisdiction.

Janux's proprietary platforms, TRACTr and TRACIr, are designed to safely and effectively engage the immune system to target and eliminate cancer cells. The company has two TRACTr therapeutic candidates currently in clinical trials, one for prostate cancer and another for various solid tumors including colorectal, lung, head and neck, and renal cancers.

The information provided in this article is based on a press release statement from Janux Therapeutics. Statements regarding the anticipated public offering, including the timing, size, and use of proceeds, are forward-looking statements and are subject to risks and uncertainties that could cause actual results to differ materially from those projected.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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