Janux Therapeutics (JANX)
Engineers antibodies that stay dormant until reaching a tumor, then engage T cells.
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Builds bispecific biologics carrying protective masks removed only inside a tumor, aiming to widen the safety margin that has limited earlier T-cell-engaging cancer drugs. Two internal platforms anchor a clinical pipeline in prostate and other solid cancers, with a related platform now advancing into autoimmune disease.
Designs bispecific biologics that stay inactive in circulation and unmask only inside a tumor, then link a cancer cell to a T cell to trigger an immune attack. The approach targets a known weakness of earlier T-cell engagers: toxicity outside the tumor.
Two internal platforms anchor the pipeline, pairing a tumor-binding arm with either a T-cell arm or a costimulatory one. A newer platform applies the same masking logic to autoimmune disease, entering clinical testing in 2026.
Lead programs target prostate cancer and solid tumors including colorectal, lung, and head and neck, all in early-to-mid clinical trials. Two large pharmaceutical partners have licensed specific platform programs, adding external validation and milestone funding.
Founded in 2017 and listed on Nasdaq in 2021, revenue depends on trial outcomes with no approved products yet.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 24, 2026 | Wolfe Research | Upgrade | Target: — | Target: $23 |
| Aug 7, 2026 | Stifel Nicolaus | Target | Target: $38 | Target: $35 |
| Aug 7, 2026 | Guggenheim | Reiterate | Rating: —Target: $72 | Target: $55 |
| Jun 25, 2026 | Truist Financial | Target | Target: — | Target: $26 |
| May 11, 2026 | Evercore ISI | Target | Target: — | Target: $22 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $970.9M · Total debt $21.0M · Total assets $1.01B · Shareholders' equity $928.0M
- Revenue
- $10.3M
- Operating income
- −$31.7M
- Net income
- −$22.0M
No dividends on record.
| Institutions | ≈ 99.75% | 60.98M shares | |
|---|---|---|---|
| 205 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 1.83% | 1.12M shares | |
| 18 holders · as of Jul 31, 2026 | |||
| Strategic holders | 14.37% | 8.78M shares | |
| 2 holders · as of May 15, 2026 | |||
| Adds to | 115.95% | ||
61.14M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 115.95%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Ra Capital Management, L.P.Institution | 18.30% | 11.19M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 10.03% | 6.13M | as of Jun 30, 2026 |
Avalon Ventures XI, L.P.1Strategic10 percent owner | 7.51% | 4.59M | filed Oct 18, 2024 |
Janus Henderson Group PLCStrategic | 6.86% | 4.20M | filed May 15, 2026 |
Prosight Management, LPInstitution | 6.22% | 3.80M | as of Jun 30, 2026 |
- Reported at 4.10% on Nov 8, 2024, under the 5% line, so no further filing is required.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 2, 2026 | Janeen Noel Doyle | officer: Chief Corp. & Bus. Dev. Ofcr | −4,059 | $14.03 |
| May 11, 2026 | Maria Dobek | officer: Vice President, Accounting | −2,038 | $14.17 |
| Jan 2, 2026 | Maria Dobek | officer: Vice President, Accounting | −1,462 | $13.73 |
| Jan 2, 2026 | Zachariah McIver | officer: Chief Medical Officer | −2,714 | $13.73 |
| Jan 2, 2026 | Charles M. Winter | officer: Chief Technical Officer | −2,401 | $13.73 |
- CytomX Therapeutics
Direct platform peer with a masked, tumor-activated bispecific approach.
- Novartis (ADR)
Owns PLUVICTO, the approved PSMA-targeted therapy that anchors the mCRPC market.
- Amgen
T-cell engager incumbent with BLINCYTO, IMDELLTRA, and solid-tumor TCE pipeline.
- Lantheus
PSMA-radiopharm developer with PYLARIFY and clinical-stage PSMA therapeutics.
- Kyverna Therapeutics
Late-stage CD19 autoimmune franchise with a rolling BLA underway.
- Werewolf Therapeutics
Mechanism peer building conditionally-activated cytokine and TCE prodrugs.
- Cabaletta Bio
CD19 CAR-T developer targeting the autoimmune indications JANX011 is entering.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Janux Therapeutics | $17.27 | −1.17% | $1.07B | — | — | 33.4 | — |
| CytomX Therapeutics | $2.79 | −5.27% | $640.0M | — | — | 35.0 | −92.4% |
| Novartis (ADR) | $143.54 | +1.60% | $268.53B | 21.3 | 15.3 | 4.8 | +0.9% |
| Amgen | $412.93 | +0.66% | $221.41B | 25.5 | 17.6 | 5.8 | +9.7% |
| Lantheus | $100.04 | +0.04% | $6.51B | 24.2 | 17.8 | 4.2 | +2.7% |
| Kyverna Therapeutics | $7.28 | −3.13% | $456.6M | — | — | — | — |
| Werewolf Therapeutics | $0.9752 | −0.69% | $47.7M | — | — | 2.3 | — |
| Cabaletta Bio | $2.42 | −3.29% | $407.6M | — | — | — | — |
| Median | 24.2 | 17.6 | 4.8 | +1.8% |