Benzinga·2026-01-22 19:02Core Insights - Janux Therapeutics has entered into a collaboration and exclusive worldwide license agreement with Bristol Myers Squibb, potentially receiving up to $800 million in total payments, including $50 million in upfront and near-term milestone payments [1][2]. Collaboration Details - The collaboration allows Janux to complete preclinical development up to Investigational New Drug (IND) submission, while Bristol Myers Squibb will handle subsequent development and commercialization [2]. - This partnership is expected to enhance Janux's capabilities in developing novel immunotherapies targeting solid tumors, with Janux actively supporting Bristol Myers Squibb during the first Phase 1 clinical study [3]. Milestone Significance - The agreement is a significant milestone for Janux, validating the strength of its tumor-activated platforms, as noted by analysts [4]. - The repeated interest from large pharmaceutical companies reinforces the differentiation of Janux's tumor-activated platform [4]. Historical Context - In 2020, Janux collaborated with Merck & Co. for T-cell engager immunotherapies, with potential earnings of up to $500.5 million per target in upfront and milestone payments [5]. Stock Performance - Currently, Janux's stock is trading 1.6% above its 20-day simple moving average but 27.8% below its 50-day simple moving average, indicating challenges in regaining long-term momentum [7]. - Over the past 12 months, shares have decreased approximately 66.97%, reflecting ongoing performance challenges [7]. Analyst Consensus - The stock carries a Buy Rating with an average price target of $61.76, although recent analyst actions have included downgrades and lowered targets from various firms [9]. - Key support for the stock is identified at $13.50, with some analysts adjusting their targets downwards [9]. Market Sentiment - Janux Therapeutics has a bullish momentum score of 1.4, indicating it is outperforming the broader market, but the extremely low value score suggests the stock is priced for perfection [10]. - Recent price action shows Janux shares were up 7.69% at $14.29 [11].