Latham & Watkins Advises on Janux Therapeutics’ Pricing of US$60 Million Underwritten Offering of Common Stock and Pre-Funded Warrants

Janux Therapeutics, Inc. (Nasdaq: JANX), 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 offering of 4,153,717 shares of its common stock and pre-funded warrants to purchase 583,483 shares of common stock. The shares of common stock are being sold at a price of US$12.46 per share and the pre-funded warrants are being sold at a price of US$12.459 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 gross proceeds from the offering to Janux are expected to be approximately US$60 million, before deducting underwriting discounts and commissions and offering expenses. The offering is expected to close on or about July 19, 2023, subject to the satisfaction of customary closing conditions.

Latham & Watkins advised the underwriter in the offering with a capital markets team led by San Diego partner Matt Bush and Bay Area partner Richard Kim, with San Diego associates Peter Simon and Rachel Staub.