Janux Therapeutics narrows Q3 2026 net loss to $21.6M
Janux said initial JANX011 clinical data will be presented on November 9, 2026, with JANX007 data expected in the first half of 2027.
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Rhea-AI Filing Summary
Janux Therapeutics, Inc. reported third-quarter 2026 results, including $945.7 million in cash, cash equivalents and short-term investments as of September 30, 2026, compared with $966.6 million as of December 31, 2025. Collaboration revenue was $9.289 million, versus $10.000 million a year earlier; research and development expenses were $30.6 million versus $34.6 million, and general and administrative expenses were $10.0 million versus $10.6 million. Net loss was $21.6 million, compared with $24.3 million.
Clinical programs continued in prostate cancer and autoimmune-disease research: the first patient was dosed in the Phase 1 study combining JANX013 with JANX007; JANX007’s Phase 1b study continues dose optimization and enrollment, including a darolutamide combination cohort; and JANX014 continues Phase 1 enrollment in patients with mCRPC. JANX011 remains in a Phase 1 healthy-volunteer study, with initial clinical data to be presented during an investor webcast on November 9, 2026. Additional JANX007 Phase 1b data are expected at a medical congress in the first half of 2027.
Positive
- Minor pointQuarterly net loss narrowed to $21.6 million from $24.3 million.
Negative
- Minor pointQuarterly collaboration revenue declined to $9.289 million from $10.000 million.
8-K Event Classification
Key Figures
Key Terms
metastatic castration-resistant prostate cancer (mCRPC) medical
cytokine release medical
pharmacokinetics medical
taxane-naïve medical
available-for-sale securities financial
Earnings Snapshot
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 5, 2026, Janux Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the three and nine months ended September 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1.
The information in this Item and the exhibit attached hereto are being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, whether filed before or after the date hereof and regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
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Description |
99.1 |
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Press Release of Janux Therapeutics, Inc. dated November 5, 2026 |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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JANUX THERAPEUTICS, INC. |
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Date: November 5, 2026 |
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By: |
/s/ David Campbell, Ph.D. |
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David Campbell, Ph.D. |
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President and Chief Executive Officer |
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Exhibit 99.1
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Janux Therapeutics Reports Third Quarter 2026 Financial Results and Business Highlights
SAN DIEGO, November 5, 2026 – Janux Therapeutics, Inc. (Nasdaq: JANX) (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies, today reported financial results for the quarter ended September 30, 2026, and provided a business update.
“During the third quarter, we continued to execute across our clinical portfolio, including dosing the first patient in the Phase 1 study of JANX013 in combination with JANX007,” said David Campbell, Ph.D., President and Chief Executive Officer of Janux. “We are also preparing to present initial clinical data from JANX011 on November 9. JANX011 was designed to achieve deep B-cell depletion while limiting cytokine release. The upcoming clinical update will provide an initial look at how this differentiated approach translates into humans.”
BUSINESS HIGHLIGHTS AND RECENT DEVELOPMENTS:
Clinical and Pipeline Progress
Upcoming Milestones
THIRD QUARTER 2026 FINANCIAL RESULTS:
About Janux Therapeutics
Janux is a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr), Tumor Activated Immunomodulator (TRACIr), and Adaptive Immune Response Modulator (ARM) platforms.
Janux’s lead clinical candidate, JANX007, is a PSMA-targeted TRACTr being investigated in a Phase 1 clinical trial in patients with metastatic castration-resistant prostate cancer (mCRPC). The Company is also advancing additional PSMA-targeted programs, including JANX014, a double-masked PSMA-TRACTr being evaluated in a Phase 1 clinical trial, and JANX013, a CD28 co-stimulatory TRACIr designed for combination with JANX007 and being evaluated in a Phase 1 clinical trial.
Beyond its prostate cancer programs, Janux’s pipeline includes JANX011, a CD19-targeted ARM being evaluated in a Phase 1 clinical trial in healthy adult volunteers for potential treatment of autoimmune diseases.
Janux continues to generate additional TRACTr, TRACIr, and ARM programs for potential future development.
For more information, please visit www.januxrx.com and follow us on LinkedIn.
Forward-Looking Statements
This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, Janux’s ability to bring new treatments to patients in need,
expectations regarding the timing, scope and results of Janux’s development activities, including its ongoing and planned preclinical studies and clinical trials, and the potential benefits of Janux’s product candidates and platform technologies, expectations regarding the use of Janux’s platform technologies to generate novel product candidates and the strength of Janux’s balance sheet and the adequacy of cash on hand. Factors that may cause actual results to differ materially include the risk that interim results of a clinical trial are not necessarily indicative of final results and one or more of the clinical outcomes may materially change as patient enrollment continues, following more comprehensive reviews of the data and as more patient data becomes available, including the risk that unconfirmed responses may not ultimately result in confirmed responses to treatment after follow-up evaluations, the risk that compounds that appear promising in early research do not demonstrate safety and/or efficacy in later preclinical studies or clinical trials, the risk that Janux may not obtain approval to market its product candidates, uncertainties associated with performing clinical trials, regulatory filings and applications, risks associated with reliance on third parties to successfully conduct clinical trials, the risks associated with reliance on outside financing to meet capital requirements, and other risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. You are urged to consider statements that include the words “may,” “will,” “would,” “could,” “should,” “believes,” “estimates,” “projects,” “promise,” “potential,” “expects,” “plans,” “anticipates,” “intends,” “continues,” “designed,” “goal,” or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties Janux faces, please refer to Janux’s periodic and other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and Janux assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Janux Therapeutics, Inc.
Condensed Balance Sheets
(in thousands)
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September 30, |
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December 31, |
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Assets |
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(unaudited) |
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Current assets: |
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Cash and cash equivalents |
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$ |
41,818 |
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$ |
52,334 |
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Accounts receivable, net |
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411 |
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— |
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Short-term investments |
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903,899 |
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914,233 |
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Prepaid expenses and other current assets |
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13,254 |
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9,320 |
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Total current assets |
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959,382 |
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975,887 |
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Restricted cash |
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816 |
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816 |
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Property and equipment, net |
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2,795 |
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3,852 |
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Operating lease right-of-use assets |
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16,772 |
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18,402 |
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Other long-term assets |
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3,890 |
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2,608 |
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Total assets |
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$ |
983,655 |
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$ |
1,001,565 |
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Liabilities and Stockholders’ Equity |
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Current liabilities: |
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Accounts payable |
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$ |
4,303 |
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$ |
4,971 |
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Accrued expenses |
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20,089 |
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17,633 |
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Current portion of deferred revenue |
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27,221 |
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— |
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Current portion of operating lease liabilities |
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2,634 |
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2,393 |
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Total current liabilities |
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54,247 |
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24,997 |
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Deferred revenue, net of current portion |
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50 |
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— |
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Operating lease liabilities, net of current portion |
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17,746 |
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19,746 |
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Total liabilities |
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72,043 |
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44,743 |
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Total stockholders’ equity |
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911,612 |
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956,822 |
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Total liabilities and stockholders’ equity |
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$ |
983,655 |
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$ |
1,001,565 |
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Janux Therapeutics, Inc.
Unaudited Condensed Statements of Operations and Comprehensive Loss
(in thousands, except share and per share data)
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Three Months Ended |
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Nine Months Ended |
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2026 |
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2025 |
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2026 |
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2025 |
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Collaboration revenue |
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$ |
9,289 |
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$ |
10,000 |
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$ |
23,289 |
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$ |
10,000 |
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Operating expenses: |
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Research and development |
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30,565 |
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34,629 |
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88,372 |
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94,348 |
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General and administrative |
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9,982 |
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10,622 |
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32,078 |
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30,918 |
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Total operating expenses |
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40,547 |
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45,251 |
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120,450 |
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125,266 |
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Loss from operations |
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(31,258 |
) |
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(35,251 |
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(97,161 |
) |
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(115,266 |
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Total other income |
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9,688 |
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10,938 |
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29,258 |
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33,587 |
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Net loss |
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$ |
(21,570 |
) |
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$ |
(24,313 |
) |
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$ |
(67,903 |
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$ |
(81,679 |
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Other comprehensive gain (loss): |
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Unrealized gain (loss) on available-for-sale securities, net |
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(4,189 |
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815 |
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(10,810 |
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2,399 |
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Comprehensive loss |
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$ |
(25,759 |
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$ |
(23,498 |
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$ |
(78,713 |
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$ |
(79,280 |
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Net loss per common share, basic and diluted |
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$ |
(0.34 |
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$ |
(0.39 |
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$ |
(1.08 |
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$ |
(1.32 |
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Weighted-average shares of common stock outstanding, basic and diluted |
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63,089,950 |
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62,023,685 |
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62,899,208 |
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61,906,789 |
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Contacts
Investors:
Chad Rubin
Endurance Advisors
crubin@enduranceadvisors.com
646.319.3261
Media:
Jessica Yingling, Ph.D.
Little Dog Communications Inc.
jessica@litldog.com
858.344.8091