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JOUNCE THERAPEUTICS, INC.

(JNCE)
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Jounce Therapeutics Gets FDA Clearance for Cancer Treatment IND

06/15/2021 | 07:36am EDT

By Chris Wack

Jounce Therapeutics Inc. said the U.S. Food and Drug Administration has cleared its investigational new drug application for JTX-1811, an anti-CCR8 antibody, for which Gilead Sciences Inc. has exclusive rights to develop and commercialize.

The IND clearance triggers a $25 million milestone payment to Jounce.

Jounce said JTX-1811, which will be referred to as GS-1811 in Gilead's pipeline, is a monoclonal antibody created by Jounce and designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory cells. The target of JTX-1811 is CCR8, a chemokine receptor enriched on TITR cells. When JTX-1811 binds to CCR8, it targets TITR cells for depletion by enhancing an antibody-dependent cellular cytotoxicity mechanism.

Under the terms of their September 2020 agreement, Gilead invested $35 million in Jounce's common stock and made an $85 million upfront payment to Jounce. Jounce has led the development of JTX-1811 through IND clearance, after which Gilead now has the sole right to develop and commercialize the program.

After receiving the $25 million milestone payment, Jounce may receive up to an additional $660 million in future clinical, regulatory and commercial milestone payments and will also be eligible to receive royalties ranging from high single digit to mid-teens based upon worldwide sales.

Jounce shares were up 9% to $7.60 in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

06-15-21 0936ET

Stocks mentioned in the article
ChangeLast1st jan.
GILEAD SCIENCES, INC. -0.39% 68.75 Delayed Quote.18.01%
JOUNCE THERAPEUTICS, INC. -0.75% 5.31 Delayed Quote.-24.14%
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Financials (USD)
Sales 2021 25,8 M - -
Net income 2021 -85,4 M - -
Net Debt 2021 - - -
P/E ratio 2021 -2,95x
Yield 2021 -
Capitalization 272 M 272 M -
Capi. / Sales 2021 10,5x
Capi. / Sales 2022 12,8x
Nbr of Employees 128
Free-Float 81,7%
Chart JOUNCE THERAPEUTICS, INC.
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Jounce Therapeutics, Inc. Technical Analysis Chart | JNCE | US4811161011 | MarketScreener
Technical analysis trends JOUNCE THERAPEUTICS, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 5,31 $
Average target price 16,03 $
Spread / Average Target 202%
EPS Revisions
Managers and Directors
Richard Murray President, Chief Executive Officer & Director
Kimberlee Cobleigh Drapkin Chief Financial Officer & Treasurer
Perry A. Karsen Chairman
Elizabeth G. Trehu Chief Medical Officer
Stephen Farrand Chief Technical Officer
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