Janux Therapeutics Q1 net loss widens on higher expenses

Janux Therapeutics

07/05/2026 21:50

Overview

US biopharma firm's Q1 collaboration revenue reached $3.7 mln, reflecting milestone payment

Net loss for Q1 widened from prior year on higher R&D and G&A expenses

Company discontinued JANX008 development, advanced pipeline and secured Bristol Myers Squibb milestone

Outlook

Janux expects to provide additional clinical data for JANX007 in H1 2027

Company plans to announce initial clinical update from JANX011 Phase 1 in H2 2026

Janux plans to initiate clinical development of JANX013 in H2 2026

Result Drivers

MILESTONE PAYMENT - Collaboration revenue in Q1 was driven by a $35 mln milestone payment from Bristol Myers Squibb

HIGHER R&D SPENDING - Research and development expenses rose, primarily due to manufacturing activities

PROGRAM PRIORITIZATION - Discontinued JANX008 development after Phase 1a, reallocating resources to other pipeline programs

Company press release: ID:nBw55v3Dka

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Collaboration Revenue
$3.73 mln
Q1 Net Income
-$24.36 mln
Q1 Basic EPS
-$0.39
Q1 Operating Expenses
$37.95 mln
Q1 Operating Income
-$34.21 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Janux Therapeutics Inc is $38.00, about 159.9% above its May 6 closing price of $14.62

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)