Janux (JANX) Data Shines; Kura (KURA) Partners Leukemia Drug Ziftomenib on Belief in US Rights, Pipeline
Investors continue to reward new, potentially improved prostate cancer treatments as Janux Therapeutics, Inc.’s (NASDAQ:JANX) stock shot up ~55% on December 3 after the company announced positive updated interim clinical data for its JANX007 clinical program.
By deploying Janux’s Tumor Activated T-cell Engager (TRACTr) platform in prostate cancer, high prostate-specific antigen (PSA) response rates and deep PSA declines were observed across once-weekly doses of JANX007 ranging from 2 mg to 9 mg in a phase Ia trial, according to Janux. The company said 100% of the 16 evaluable patients achieved best PSA 50 declines, 63% of patients achieved best PSA 90 declines, and 31% of patients achieved best PSA 99 declines.
Based on the trial’s efficacy and safety results, two once-weekly step dose regimens have been identified for phase 1b expansion trials directed at patients who previously had been treated with Novartis, AG’s (NYSE:NVS) PLUVICTO. The phase Ib trials will be administered prior to second- and third-line treatment regimens.
We issued a report forecasting a positive outcome for the phase Ia Janux trial in August 2024 when the company’s stock traded at $35.86 per share.
On December 3, 2024, the company’s shares opened at $67.00 per share.
Kura Oncology, Inc. (NASDAQ:KURA) last month entered a potential $1.2 billion alliance with Japan-based Kirin Kyowa (OTCPK:KNBWY) for Kura’s lead leukemia drug ziftomenib. The deal included a $330 million upfront payment and likely another $420 million in near-term milestones. Kura retains US rights to ziftomenib with Kirin Kyowa marketing the drug outside of the US. While the deal was not formally a “takeout” by a large drug company, investors sent Kura shares down 40%, believing Kura could have fetched a higher price if the entire company was sold.
We issued a report on a phase II of ziftomenib trial in October 2024 when the company’s stock traded at $18.00 per share.
On December 3, the company’s stock was trading around $11 per share, a decline of 38.8%. We are discontinuing coverage of the phase II ziftomenib trial but maintaining a position in the company’s stock.
Disclosures: Discontinuing coverage and exiting parts of its positions in JANX and KURA.