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Janux Therapeutics, Inc., a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engager (TRACTr), Tumor Activated Immunomodulator (TRACIr), and Adaptive Immune Response Modulator (ARM) platforms technology to treat patients with cancer. The company's clinical candidates include JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor that is in Phase 1 clinical trial for the treatment of various solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, renal cell carcinoma, small cell lung cancer, pancreatic ductal adenocarcinoma, and triple-negative breast cancer. It also develops JANX011, a CD19-targeted adaptive immune response modulator that is in phase 1 clinical study developed for autoimmune diseases. The company has strategic research collaboration agreement with Merck Sharp & Dohme Corp. to develop TRACTr product candidates; and Bristol Myers Squibb to develop and commercialize an undisclosed, novel tumor-activated therapeutic targeting a validated solid tumor antigen expressed across several human cancer types. Janux Therapeutics, Inc. was incorporated in 2017 and is headquartered in San Diego, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $10M | $-156M | $-114M | $-83M | -11.9% | -5.6% | - |
| 2024 | $11M | $-97M | $-69M | $-44M | -6.7% | 31.0% | - |
| 2023 | $8M | $-71M | $-58M | $-52M | -16.9% | -6.1% | - |
| 2022 | $9M | $-66M | $-63M | $-49M | -19.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 8.61 | 8.08 | 10.59 | 10 |
| Operating Expense | 75.70 | 81.06 | 109.44 | 167.67 |
| Operating Income | -67.09 | -72.98 | -98.85 | -157.67 |
| EBITDA | -66.25 | -71.02 | -96.79 | -155.64 |
| EBIT | -67.09 | -72.98 | -98.85 | -157.67 |
| Pretax Income | -63.06 | -58.29 | -68.99 | -113.62 |
| Net Income | -63.06 | -58.29 | -68.99 | -113.62 |
| Net Income Common Stockholders | -63.06 | -58.29 | -68.99 | -113.62 |
| Total Expenses | 75.70 | 81.06 | 109.44 | 167.67 |
| Interest Expense | 0 | 0 | 0 | 0 |
| Interest Income | 4.03 | 14.69 | 29.85 | 44.04 |
| Research And Development | 53.44 | 54.92 | 68.39 | 125.90 |
| Selling General And Administration | 22.26 | 26.14 | 41.05 | 41.77 |
| Normalized EBITDA | -66.25 | -71.02 | -96.79 | -155.64 |
| Normalized Income | -63.06 | -58.29 | -68.99 | -113.62 |
| Basic EPS | -1.52 | -1.32 | -1.28 | 0 |
| Diluted EPS | -1.52 | -1.32 | -1.28 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -63.06 | -58.29 | -68.99 | -113.62 |
| Reconciled Depreciation | 0.84 | 1.96 | 2.06 | 2.03 |
| Net Interest Income | 4.03 | 14.69 | 29.85 | 44.04 |
| Net Income From Continuing And Discontinued Operation | -63.06 | -58.29 | -68.99 | -113.62 |
| Total Operating Income As Reported | -67.09 | -72.98 | -98.85 | -157.67 |
| Diluted Average Shares | 41.47 | 44.02 | 53.75 | 0 |
| Basic Average Shares | 41.47 | 44.02 | 53.75 | 0 |
| Diluted NI Availto Com Stockholders | -63.06 | -58.29 | -68.99 | -113.62 |
| Net Income Including Noncontrolling Interests | -63.06 | -58.29 | -68.99 | -113.62 |
| Net Income Continuous Operations | -63.06 | -58.29 | -68.99 | -113.62 |
| Net Non Operating Interest Income Expense | 4.03 | 14.69 | 29.85 | 44.04 |
| Interest Expense Non Operating | 0 | 0 | 0 | 0 |
| Interest Income Non Operating | 4.03 | 14.69 | 29.85 | 44.04 |
| General And Administrative Expense | 22.26 | 26.14 | 41.05 | 41.77 |
| Other Gand A | 22.26 | 26.14 | 41.05 | 41.77 |
| Operating Revenue | 8.61 | 8.08 | 10.59 | 10 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Janux Therapeutics, Inc.this co. | JANX | $860M | - | 0.89 | -11.9% | 0.55 |
| Sana Biotechnology, Inc. | SANA | $877M | - | 5.39 | -151.8% | -4.57 |
| LB Pharmaceuticals Inc | LBRX | $877M | - | 2.57 | -8.4% | -20.06 |
| Bright Minds Biosciences Inc. | DRUG | $872M | - | 10.63 | -14.9% | - |
| Talkspace, Inc. | TALK | $869M |
| 129.75 |
| 7.39 |
| 6.7% |
| 128.51 |
| SELLAS Life Sciences Group, Inc. | SLS | $862M | - | 10.09 | -37.9% | - |
| EVMN | EVMN | $859M | - | 3.66 | -33.5% | -8.93 |
| Theravance Biopharma, Inc. | TBPH | $859M | 8.09 | 2.87 | 35.7% | -296.42 |
| MannKind Corporation | MNKD | $849M | 137.50 | -16.57 | -11.5% | 19.49 |
| Peer Median | - | 129.75 | 4.52 | -13.2% | -6.75 | |