Short answer
Janux Therapeutics, Inc. (JANX) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $10M (up 2177.9% year over year) with net income of −$24M.
Q3 2025 key financials · XBRL
- Revenue
- $10M
- +2177.9% YoY
- Net income
- −$24M
- +13.4% YoY · +28.2% QoQ
- Operating margin
- -352.5%
- EPS (diluted)
- −$0.39
- +26.4% YoY · +29.1% QoQ
Source: XBRL data from the Janux Therapeutics, Inc. (JANX) Q3 2025 10-Q on SEC EDGAR. USD.
Janux Therapeutics, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Collaboration revenue $10.0M, up from $0.4M YoY, driven by a Merck developmental milestone
- Net loss $24.3M vs $28.1M YoY; operating loss $35.3M vs $35.8M
- Best program JANX007 R&D spending $6.2M vs $4.6M; preclinical programs worst at $14.0M vs $4.0M
- Cash, restricted cash and short-term investments $989.8M; operating cash use $53.7M vs $27.1M
- Funding runway through at least 12 months; expected substantially higher R&D expenses and continued losses
Risk Factors
- Newly marked capital risk: existing $989.0M cash and investments insufficient to fund candidates through regulatory approval
- Most materially updated profitability risk: nine-month net loss increased to $81.7M from $48.8M
- Data-privacy compliance risk: actual or perceived violations could trigger investigations, fines, litigation, and operational disruption
- Clinical-development risk: JANX007 and JANX008 remain dependent on uncertain human-trial safety and efficacy outcomes
- Liquidity risk: current resources cover at least 12 months but require substantial additional funding thereafter
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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