Janux Therapeutics (JANX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Janux Therapeutics

NasdaqGM•Healthcare•Biotechnology

$20.24+0.44(0.02%)Market closed

Market Cap

$1.06B

P/S

44.2x

P/B

1.1x

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.

How this company scores

AverageMetricSide Score: 52/100

Strongest: Growth (18/25); weakest: Cash & Earnings Quality (7/25).

Profitability12/25

Growth18/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality7/25

Strengths

Growing revenueInterest easily coveredNet cash positionImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 44.2x5y range 0.9x – 3257.3x

Currently below its 18-quarter median.

P/B · 1.1x5y range 0.0x – 3.8x

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $1.06B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $24.00M
Q. Revenue: $10.27M
TTM EBITDA: $-141.65M
TTM Op. Income: $-143.56M
Q. Op. Income: $-31.69M
TTM Net Income: $-102.59M
Q. Net Income: $-21.97M
EPS: $-0.35
Shares Out.: $62.94M

$24.00M in TTM revenue grew 5367.0% YoY, reaching $10.27M last quarter. TTM EBITDA of $-141.65M and TTM operating income of $-143.56M show growth is flowing through to the bottom line. However, net income is negative at $102.59M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -304.1%
Op. Margin: -308.7%
Net Margin: -214.0%

Op. margin of -308.7% is up 4511799691.3% YoY — cost efficiency is improving. Net margin at -214.0% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 44.2x
P/B Ratio: 1.1x

P/S of 44.2x and P/B of 1.1x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.01B
Cash: $27.77M
Long-Term Debt: N/A
Book Value: $927.98M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $12.48M
TTM Free Cash Flow: $-41.92M
FCF Margin: -174.7%
FCF / Net Income: 0.4

TTM FCF of $-41.92M on $12.48M in operating cash flow. The FCF / Net Income ratio of 0.4x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.