Here’s why I think that $MRK buys $JANX soon.

$Merck & Co (MRK.US)$ on the prowl for acquisitions up to $15 billion.

$Merck & Co (MRK.US)$ already has an active partnership with $Janux Therapeutics (JANX.US)$ for two TRACtr targets, and CEO Davis has evinced a preference for acquisition of $SPDR S&P Biotech ETF (XBI.US)$ in which $Merck & Co (MRK.US)$ already has a seat at the table.

$Merck & Co (MRK.US)$ acquisition of $HARP earlier this year (for a song) shows their interest in the T Cell engager space, and PSMA targeting lead candidate would provide $Merck & Co (MRK.US)$ entree to a target/indication which they don’t yet have a presence. So, like $HARP with DLL3, not first in class, but a molecule that “could do something interesting”.

Suspect many interested suitors in $Janux Therapeutics (JANX.US)$ , to CEO Davis’ comment re: asset Haves and Have nots.

Bloomberg, then Betaville.

What of the large inside sale a couple of weeks ago by $Janux Therapeutics (JANX.US)$ ?

I think that negotiations have been taking some time, and with share price creeping up, $MRK takes an initial stake from $Janux Therapeutics (JANX.US)$ insiders, buying some more time by introducing downward share price pressure by the very public insider sale — again, it was a huge block…

These things take time, but $MRK has its mark on $JANX, I believe…