Janux Therapeutics, Inc. JANX
We are an innovative clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying our proprietary technologies to our Tumor Activated T Cell Engager (TRACTr), Tumor Activated Immunomodulator (TRACIr), and Adaptive Immune Response Modulator (ARM) platforms. The TRACTr platform produces T cell engagers (TCEs) with a tumor antigen-binding domain and a CD3 T cell binding domain, while the TRACIr platform produces bispecifics with a tumor antigen-binding domain and a costimulatory CD28 binding domain. The goal of our TRACTr and TRACIr platforms is to provide cancer patients with safe and effective therapeutics that direct and guide their immune system to eradicate tumors while minimizing safety concerns. Our initial focus is on developing a novel class of TRACTr therapeutics designed to target clinically validated TCE drug targets, while overcoming the liabilities associated with prior generations of TCEs. While TCE therapeutics have displayed potent anti-tumor activity in hematological cancers, developing TCEs to treat solid tumors has faced challenges due to the limitations of prior TCE technologies, namely (i) on-target healthy tissue immune activation that contributes to cytokine release syndrome (CRS) and healthy tissue toxicity and (ii) poor pharmacokinetics (PK) leading to short half-life.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $10.0M | $10.6M | $8.1M | $8.6M | $3.6M | $0 | — |
| R&D | $125.9M | $68.4M | $54.9M | $53.4M | $26.2M | $3.0M | — |
| SG&A | $41.8M | $41.0M | $26.1M | $22.3M | $10.3M | $1.8M | — |
| Operating income | -$157.7M | -$98.8M | -$73.0M | -$67.1M | -$32.9M | -$4.8M | — |
| Pre-tax income | -$113.6M | -$69.0M | -$58.3M | — | — | — | — |
| Income tax | $0 | $0 | $0 | — | — | — | — |
| Net income | -$113.6M | -$69.0M | -$58.3M | -$63.1M | -$32.7M | -$6.8M | — |
| EPS, basic | -1.83 | -1.28 | -1.32 | -1.52 | -1.39 | — | — |
| EPS, diluted | -1.83 | -1.28 | -1.32 | -1.52 | -1.39 | -7.41 | — |
| Shares, diluted (wtd. avg.) | 62.0M | 53.8M | 44.0M | 41.5M | 23.5M | 233,726 | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $52.3M | $430.6M | $19.2M | $51.4M | $35.6M | $7.8M | — |
| Short-term investments | $914.2M | $594.6M | $324.8M | $275.6M | $339.4M | $0 | — |
| Receivables | — | — | $0 | $0 | $0 | $8.0M | — |
| Total current assets | $975.9M | $1.03B | $349.2M | $332.4M | $377.0M | $16.1M | — |
| Property, plant and equipment | $3.9M | $4.9M | $7.0M | $7.1M | $1.4M | $155.0K | — |
| Total assets | $1.00B | $1.06B | $380.4M | $364.0M | $379.8M | $16.2M | — |
| Accounts payable | $5.0M | $4.0M | $2.4M | $2.2M | $2.5M | $428.0K | — |
| Total current liabilities | $25.0M | $17.5M | $13.0M | $16.5M | $12.8M | $3.2M | — |
| Total liabilities | $44.7M | $38.7M | $36.1M | $43.3M | $13.5M | $9.2M | — |
| Retained earnings | -$351.4M | -$237.8M | -$168.8M | -$110.5M | -$47.4M | -$14.7M | — |
| Total equity | $956.8M | $1.02B | $344.3M | $320.7M | $366.3M | -$14.6M | -$7.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$82.2M | -$43.8M | -$50.6M | -$42.9M | -$17.0M | -$4.4M | — |
| Depreciation and amortisation | $2.0M | $2.1M | $2.0M | $841.0K | $113.0K | $13.0K | — |
| Stock-based compensation | $40.2M | $33.0M | $20.0M | $17.2M | $6.9M | $72.0K | — |
| Capital expenditure | $1.0M | $359.0K | $1.9M | $6.4M | $1.5M | $0 | — |
| Investing cash flow | -$301.0M | -$258.0M | -$41.2M | $58.3M | -$341.0M | $0 | — |
| Financing cash flow | $4.9M | $713.2M | $59.5M | $500.0K | $386.5M | $11.5M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-187095.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $0 | $3.6M | $8.6M | $8.1M | $10.6M | $10.0M |
| Gross profit | — | — | — | — | — | — | — |
| Net income | — | -$6.8M | -$32.7M | -$63.1M | -$58.3M | -$69.0M | -$113.6M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Officer or director change Item 5.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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