Clinical UncertaintyThere is real outstanding clinical uncertainty for the program and emerging competitive risks.
Competitive PressureCompelling initial set of data from Vir with their dual masked HER2xCD3 and PSMAxCD3 antibodies in a large range of solid tumors, including breast, colorectal and prostate cancer, putting competitive pressure on JANX.
Stock PerformanceThe stock has significantly pulled back primarily due to the dissolution of M&A potential in the near-term and peer VIR putting out competitive data.