JANX · Janux Therapeutics, Inc.

Janux Therapeutics reported its first quarter 2026 financial results, highlighting a net loss of $24.4 million compared to $23.5 million in the same period last year. The increase in net loss was driven by higher operating expenses, with R&D expenses rising to $26.8 million from $25.1 million, primarily due to increased manufacturing costs, and G&A expenses increasing to $11.1 million from $9.8 million. The company recognized $3.7 million in collaboration revenue from the Bristol Myers Squibb partnership, which contributed to total other income of $9.9 million. Cash and investments stood at $956.4 million as of March 31, 2026, down slightly from $966.6 million at year-end 2025, providing a strong cash position to support ongoing pipeline development.

On the business front, Janux continues to advance its prostate cancer franchise. JANX007, a PSMA-targeted TRACTr, is enrolling in a Phase 1b trial in metastatic castration-resistant prostate cancer (mCRPC), including a combination cohort with darolutamide. JANX014, a double-masked PSMA-TRACTr, has initiated clinical evaluation. The company also announced the discontinuation of JANX008 (EGFR-TRACTr) after Phase 1a data review to prioritize resources. JANX011, a CD19-ARM for autoimmune diseases, is enrolling in a Phase 1 trial in healthy volunteers. Under the Bristol Myers Squibb collaboration, a development candidate nomination triggered a $35 million milestone payment. Management expects to provide additional JANX007 data at a medical congress in the first half of 2027 and plans to initiate clinical development of JANX013 in the second half of 2026.