Latham Advises on Janux Therapeutics’ US$350 Million Public Offering of Common Stock and Pre-Funded Warrants

Janux Therapeutics, Inc. (Nasdaq: JANX) (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr) and Tumor Activated Immunomodulator (TRACIr) platforms, has announced the pricing of an underwritten public offering of 5,317,460 shares of its common stock at a public offering price of US$63 per share and pre-funded warrants to purchase 238,095 shares of common stock at a price of US$62.999 per pre-funded warrant, which represents the per share price for the common stock less the US$0.001 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds to Janux from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses and excluding the exercise of any pre-funded warrants, are expected to be approximately US$350 million. In addition, Janux has granted the underwriters a 30-day option to purchase up to an additional 833,333 shares of its common stock. All of the securities to be sold in the offering are to be sold by Janux. The offering is expected to close on or about December 6, 2024, subject to customary closing conditions.

Latham & Watkins LLP is advising the underwriters in the offering with a capital markets team led by San Diego partner Matt Bush, Bay Area partner Richard Kim, and San Diego counsel Anthony Gostanian, with associates Julian Brody and Sterling Swift.