Janux Therapeutics — Third Quarter 2026 Earnings Summary

Financial Performance:

• Collaboration revenue for the three months ended September 30, 2026, was $9.3 million, down from $10.0 million in the same period of 2025.
• Research and development expenses were $30.6 million for the quarter, a decrease from $34.6 million in the comparable 2025 period.
• General and administrative expenses were $10.0 million for the quarter, compared to $10.6 million in the prior year period.
• Net loss for the quarter ended September 30, 2026, was $21.6 million, improved from $24.3 million in the same period of 2025.
• Cash, cash equivalents, and short-term investments totaled $945.7 million as of September 30, 2026, down from $966.6 million as of December 31, 2025.
• Total assets were $983.7 million as of September 30, 2026, compared to $1,001.6 million as of December 31, 2025.
• Total liabilities were $72.0 million as of September 30, 2026, up from $44.7 million as of December 31, 2025, driven by the recognition of $27.2 million in current deferred revenue.
• Net loss per share (basic and diluted) was $0.34 for the quarter, compared to $0.39 in the prior year period.

Business Segments and Product Lines:

• JANX007 (PSMA-TRACTr) advanced through Phase 1b development in metastatic castration-resistant prostate cancer (mCRPC), with ongoing dose optimization in taxane-naïve patients and an actively enrolling cohort evaluating combination with darolutamide.
• JANX014 (PSMA-TRACTr) continued patient enrollment in its Phase 1 study for mCRPC to evaluate safety, pharmacokinetics, and preliminary antitumor activity.
• JANX011 (CD19-ARM), the first candidate from the Adaptive Immune Response Modulator platform, continued evaluation in a Phase 1 healthy volunteer study designed to achieve deep B-cell depletion while limiting cytokine release.
• JANX013 (PSMA-TRACIr) saw the first patient dosed in a Phase 1 study evaluating combination therapy with JANX007 in mCRPC patients, marking the first clinical evaluation of the TRACIr platform.
• JANX011 was disclosed to selectively engage TRBV6-expressing T cells rather than broadly engaging the CD3+ T cell population.

Other Key Points:

• Initial clinical data from the JANX011 Phase 1 healthy-volunteer study is scheduled for presentation during an investor webcast on November 9, 2026.
• Additional clinical data from the JANX007 Phase 1b study are expected to be presented at a medical congress in the first half of 2027.
• The company maintains a strong balance sheet with $945.7 million in cash and investments to support the advancement of its clinical-stage programs.
• Unrealized loss on available-for-sale securities was $4.2 million for the quarter ended September 30, 2026, compared to an unrealized gain of $0.8 million in the prior year period.