A Business at a Glance
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Unless the context otherwise requires, the terms “Janux Therapeutics,” “Janux,” “we,” “us,” “our” and similar references in this Annual Report on Form 10-K refer to Janux Therapeutics, Inc. 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.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | - | - | - | - | - |
| Net Income | -114M | -114M | -69M | -58M | -63M | -33M |
| EPS | $-1.83 | $-1.83 | $-1.28 | $-1.32 | $-1.52 | $-1.39 |
| Free Cash Flow | -83M | -83M | -44M | -52M | -49M | -18M |
| ROIC | - | -15.7% | -9.3% | -16.9% | -19.7% | -8.7% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | - | - | 0.10 | 0.13 | - |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -158M | -158M | -99M | -73M | -67M | -33M |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | 0.0% | - | - | -16.9% | -19.7% | - |
| Shares Outstanding | 62M | 62M | 54M | 44M | 41M | 24M |
| Metric | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 0 | N/A | N/A | N/A | N/A | N/A | 0 |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 3.0M | 26M | 53M | 55M | 68M | 126M | 126M |
| SG&A | 1.8M | 10M | 22M | 26M | 41M | 42M | 42M |
| EBIT | -4.8M | -33M | -67M | -73M | -99M | -158M | -158M |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | N/A | -33M | -63M | -58M | -69M | -114M | -114M |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | N/A | -8.7% | -19.7% | -16.9% | -9.3% | -15.7% | N/A |
| ROE | N/A | N/A | -19.7% | -16.9% | N/A | N/A | 0.0% |
| ROA | N/A | -8.6% | -17.3% | -15.3% | -6.5% | -11.0% | -11.3% |
| Cash Flow | |||||||
| Op. Cash Flow | -4.4M | -17M | -43M | -51M | -44M | -82M | -82M |
| Free Cash Flow | -4.4M | -18M | -49M | -52M | -44M | -83M | -83M |
| Owner Earnings | -4.5M | -24M | -61M | -73M | -79M | -124M | -124M |
| CapEx | 0 | 1.5M | 6.4M | 1.9M | 359K | 1.0M | 1.0M |
| Maint. CapEx | 13K | 113K | 841K | 2.0M | 2.1M | 2.0M | 2.0M |
| Growth CapEx | N/A | 1.4M | 5.6M | 0 | 0 | 0 | 0 |
| D&A | 13K | 113K | 841K | 2.0M | 2.1M | 2.0M | 2.0M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 72K | 6.9M | 17M | 20M | 33M | 40M | 40M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||
| Net Debt | N/A | -375M | N/A | N/A | N/A | -944M | -30M |
| Cash & Equiv. | 7.8M | 36M | 51M | 19M | 431M | 52M | 52M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | 22M |
| Debt/Equity | -0.63 | N/A | 0.13 | 0.10 | N/A | N/A | 0.00 |
| Interest Coverage | -23.5 | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | -15M | N/A | 321M | 344M | N/A | N/A | 0 |
| Total Assets | 16M | 380M | 364M | 380M | 1.1B | 1.0B | 1.0B |
| Total Liabilities | 9.2M | N/A | 43M | 36M | N/A | N/A | N/A |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -15M | -47M | -110M | -169M | -238M | -351M | -351M |
| Working Capital | 13M | 364M | 316M | 336M | 1.0B | 951M | 951M |
| Current Assets | 16M | 377M | 332M | 349M | 1.0B | 976M | 976M |
| Current Liabilities | 3.2M | 13M | 17M | 13M | 17M | 25M | 25M |
| Per Share Data | |||||||
| EPS | -7.41 | -1.39 | -1.52 | -1.32 | -1.28 | -1.83 | -1.83 |
| Owner EPS | -0.11 | -1.02 | -1.47 | -1.64 | -1.46 | -2.00 | -2.00 |
| Book Value | -0.35 | N/A | 7.73 | 7.80 | N/A | N/A | 0.00 |
| Cash Flow/Share | -0.10 | -0.72 | -1.03 | -1.15 | -0.81 | -1.32 | -1.80 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 41.6M | 23.5M | 41.5M | 44.2M | 53.9M | 62.1M | 62.1M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | -8.1 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 1.6 | 1.5 | N/A | N/A | N/A |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | N/A | -3.7% | -9.9% | -10.1% | -1.5% | -9.4% | -9.0% |
| Market Cap | N/A | 495M | 501M | 517M | 2.9B | 885M | 925M |
| Avg. Price | N/A | 24.71 | 14.15 | 12.54 | 41.28 | 28.21 | 14.90 |
| Year-End Price | N/A | 21.08 | 12.08 | 11.70 | 54.10 | 14.25 | 14.90 |
Janux Therapeutics, Inc. passes 0 of 9 quality checks, indicating weak fundamentals.
Janux Therapeutics, Inc. (JANX) has a 5-year average return on invested capital (ROIC) of -14.1%. This is below average and may indicate limited pricing power.
Janux Therapeutics, Inc. (JANX) has a market capitalization of $925M. It is classified as a small-cap stock.
Janux Therapeutics, Inc. (JANX) does not currently pay a regular dividend.
Janux Therapeutics, Inc. (JANX) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
Janux Therapeutics, Inc. (JANX) generated $-83 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Janux Therapeutics, Inc. (JANX) reported earnings per share (EPS) of $-1.83 in its most recent fiscal year.
The Ledger Terminal provides 6 years of financial data for Janux Therapeutics, Inc. (JANX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.