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                            May 14, 2021

       David Campbell, Ph.D.
       Chief Executive Officer
       Janux Therapeutics, Inc.
       11099 N. Torrey Pines Road, Suite 290
       La Jolla, CA 92037

                                                        Re: Janux Therapeutics,
Inc.
                                                            Draft Registration
Statement on Form S-1
                                                            Submitted April 16,
2021
                                                            CIK No. 0001817713

       Dear Dr. Campbell:

              We have reviewed your draft registration statement and have the
following comments. In
       some of our comments, we may ask you to provide us with information so
we may better
       understand your disclosure.

              Please respond to this letter by providing the requested
information and either submitting
       an amended draft registration statement or publicly filing your
registration statement on
       EDGAR. If you do not believe our comments apply to your facts and
circumstances or do not
       believe an amendment is appropriate, please tell us why in your
response.

             After reviewing the information you provide in response to these
comments and your
       amended draft registration statement or filed registration statement, we
may have additional
       comments.

       Draft Registration Statement on Form S-1 submitted April 16, 2021

       Prospectus Summary
       Overview, page 1

   1.                                                   We note your disclosure
that "[y]our lead TRACTr product candidates are designed to
                                                        target PSMA, EGFR, and
TROP2," that your TRACTrs are "designed to be selectively
                                                        activated in the tumor
microenvironment" and that the attachment of the albumin binding
                                                        domain "is designed to
extend the half-life of [y]our TRACTr product candidates." Please
                                                        balance these and
similar statements relating to the desired or intended purpose of your
                                                        product candidates with
equally prominent explanations that any conclusions regarding
                                                        desired effects are
premature as your product candidates remain in the preclinical or
                                                        discovery stages and
are based on novel technologies.
 David Campbell, Ph.D.
Janux Therapeutics, Inc.
May 14, 2021
Page 2
2.       Please clarify here and in the Business section whether you expect to
initially seek
         approval of your product candidates as first line or later lines of
therapy.
3.       At first use, please define the term "mask."
Our Lead Programs, page 3

4.       Please explain what is involved in "lead-optimization" and why you
believe this is a
         separate and distinct development phase, as opposed to part of lead
discovery and/or IND-
         enabling studies, or revise. In addition, please include separate
columns for Phase 2 and
         Phase 3 or tell us the basis for your belief that you will be able to
conduct Phase 2/3 trials
         for all of your product candidates.
Pipeline of Proprietary TRACTrs, page 3

5.       Please revise your graphic at the top of page 3 to disclose the
"undisclosed" domains.
         Alternatively, please explain to us why such programs are sufficiently
material to include
         in your pipeline of proprietary TRACTrs graphic.
Business
Our Research Collaboration with Merck Sharp & Dohme Corp., page 5

6.       Please remove statements that your collaboration with Merck Sharp &
Dohme Corp
         "provides validation for [y]our TRACTr platform technology" as these
statements appear
         to imply that your product candidates' outlook for approval are
stronger due to Merck's
         endorsement, which is premature and speculative.
Our Team and Investors, page 5

7.       Please limit the disclosure identifying your investors to investors
identified in your
         Principal Stockholder table.
Use of Proceeds, page 74

8.       Please revise to clarify whether you will be able to complete the
trials referenced with the
         allocated net proceeds from the offering. If any material amounts of
other funds are
         necessary, please disclose the amount of funds needed to complete the
trials referenced.
         Refer to Instruction 3 to Item 504 of Regulation S-K.
Research Collaboration and Exclusive License Agreement with Merck Sharp & Dohme
Corp.,
page 131

9.     We note your disclosure that Merck is required to make tiered royalty
payments on a
       product-by-product
FirstName  LastNameDavidand     country-by-country
                              Campbell,  Ph.D.      basis, ranging from low
single-digit to low
       double-digit percentage royalty rates. Please refine your disclosure to
provide a more
Comapany
       exactNameJanux
             descriptionTherapeutics,  Inc.
                         of the high end of the range (e.g., low teens) to
ensure that you have
May 14,  2021 Page  2
       described the royalty rate within a ten percentage point range.
FirstName LastName
 David Campbell, Ph.D.
FirstName  LastNameDavid Campbell, Ph.D.
Janux Therapeutics, Inc.
Comapany
May        NameJanux Therapeutics, Inc.
     14, 2021
May 14,
Page 3 2021 Page 3
FirstName LastName
Executive and Director Compensation
Employment, Severance and Change in Control Agreements, page 166

10.      We note that you have neither paid nor entered into an employment or
other service
         agreement with Mr. Reardon with respect to his services as Acting
Chief Financial
         Officer. With reference to your disclosure on page 175 that you are
party to a Support
         Services Agreement with COI and that Mr. Reardon is an executive
officer and director of
         COI, please disclose whether Mr. Reardon is providing services as
Acting Chief Financial
         Officer via the Support Services Agreement. If so, please disclose the
material terms of
         his service.
General

11.      Please provide us with copies of all written communications, as
defined in Rule 405 under
         the Securities Act, that you, or anyone authorized to do so on your
behalf, present to
         potential investors in reliance on Section 5(d) of the Securities Act,
whether or not they
         retain copies of the communications.


       You may contact Tracie Mariner at 202-551-3744 or Al Pavot at
202-551-3738 if you
have questions regarding comments on the financial statements and related
matters. Please
contact Deanna Virginio at 202-551-4530 or Irene Paik at 202-551-6553 with any
other
questions.



                                                              Sincerely,

                                                              Division of
Corporation Finance
                                                              Office of Life
Sciences
cc:      Ken Rollins, Esq.