Latham & Watkins Advises on Janux Therapeutics’ US$296.5 Million Underwritten 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 4,440,851 shares of its common stock at a public offering price of US$46.50 per share and pre-funded warrants to purchase 1,935,483 shares of common stock at a price of US$46.499 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$296.5 million. In addition, Janux has granted the underwriters a 30-day option to purchase up to an additional 956,450 shares of its common stock. All of the shares to be sold in the offering are to be sold by Janux. The offering is expected to close on or about March 4, 2024, subject to customary closing conditions.

Latham & Watkins LLP is representing 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 Peter Simon, Rachel Staub, and Arielle Schechtman. Advice was also provided on regulatory matters by Bay Area partner Betty Pang and Washington, D.C. counsel Monica Groat, with associate Kiera Murphy; on cybersecurity and data privacy matters by Bay Area partner Heather Deixler, with associate Mitch Bennett,* on IP matters by Bay Area partner Chris Hazuka, with associates Robert Yeh and Michael Sweeney; and on tax matters by Bay Area partner Grace Lee, with associates Eni Kassim and Rasha Suleiman.

*Admitted to practice in New South Wales (Australia) only.