Company Analysis

Janux Therapeutics, Inc. (JANX)

Nasdaq: JANX · Pharmaceutical Preparations · San Diego, CA · filing with the SEC since 2020
Grade5.0
◀ Past 5.1● Present 6.1▶ Future 4.1
1 est.

The grade of Janux Therapeutics, Inc.

Nine metrics read from its own filings, by tense
Headline grade
5.0/10
◀ Past5.125% of the headline
● Present6.135% of the headline
▶ Future4.140% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.1/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
5.0/10

Has it survived what it has been through?

1 warning event since 2020; the latest 2023-06-20.

weight 22% of this tense · 50th percentile among 497 sector filers · read for itself

From the record

Janux Therapeutics, Inc.'s filings since 2020 show 1 warning event: a notice about its exchange listing (8-K item 3.01, the latest 2023-06-20) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
4.6/10

What has it actually done, year after year?

6 filed years; profitable in 0 of 6.

weight 45% of this tense · 46th percentile among 323 sector filers · read for its customers

From the record

Janux Therapeutics, Inc.'s 6 filed years say what it did: it rose in 2 of 4 years; the deepest fall was 6% from fiscal 2022 to fiscal 2023; net income was positive in 0 of 6 of those years (its annual reports).

What it rests on

  • the share of years revenue rosebottom 36% of its family
  • the share of filed years with a profitbottom 27% of its family
  • the deepest fall from a revenue peak6.1%top 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
5.8/10

How has it treated the people who own it?

SI estimate 5.8/10, confidence 35 of 100 (one part).

weight 33% of this tense · 58th percentile among 464 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the top 42% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 464 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Janux Therapeutics, Inc.'s shareholder treatment is put at 5.8 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the top 42% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

6.1/1035% of the headline grade · 3 of 3 filed

Financial health

as filed
7.7/10

Is it financially healthy right now?

ROE -12%: lost 12¢ per shareholder dollar. Leverage 4%: owes 4¢ per asset dollar.

weight 45% of this tense · 77th percentile among 473 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Janux Therapeutics, Inc. lost about 12 cents for every dollar of shareholders' money. Leverage: it owed about 4 cents per dollar of assets, and net share issuance: its share count grew 15.3% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 4% of its family
  • return on equitytop 22% of its family
  • the share count against the year beforetop 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
3.9/10

How strong is its position in its industry?

bottom 39% of 315 in its family; net margin -1136.2%.

weight 22% of this tense · 39th percentile among 315 sector filers · read for its customers

From the record

Janux Therapeutics, Inc.'s standing among 315 graded names in its industry family: revenue of $10 million in fiscal 2025 ranks in the bottom 43% by size; a net margin of -1136.2% ranks in the bottom 29%; revenue growth of 5.1% a year over the last 3 filed years ranks in the bottom 47% (its annual reports).

What it rests on

  • revenue against the family$10.0Mbottom 43% of its family
  • net margin-1136.2%bottom 29% of its family
  • three-year revenue growth5.1%bottom 47% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
5.5/10

What are the people in charge doing?

top 45% of 315 in its family for leadership; chief executive since 2021.

weight 33% of this tense · 55th percentile among 315 sector filers · read for its shareholders

From the record

Janux Therapeutics, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Campbell, David Alan (President and CEO, as filed), filing under that title since 2021-06-10, 5.4 years (top 45% of its family); the 16 officers and directors filing in the last fifteen months have been on the record a median of 4 years (bottom 24%); 3 officer or director changes were reported on Form 8-K since 2023-11-13, against the 16 people in charge now (top 15%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge3 in three years among 16 peopletop 15% of its family
  • the median years the people in charge have filed4.0 yearsbottom 24% of its family
  • the chief executive's years on the record5.4 yearstop 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

4.1/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.3/10

How much room does it have to grow?

bottom 43% of 273 in its family for room to expand.

weight 33% of this tense · 43rd percentile among 273 sector filers · read for itself

From the record

Janux Therapeutics, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $52 million against no long-term debt tagged leaves 5.2% of its assets as net cash, bottom 20% of its family; cash from operations less capital spending is -832.8% of revenue (bottom 28%); research spending of 1259% of revenue (top 19%) (its annual report).

What it rests on

  • cash less debt against assets5.2%bottom 20% of its family
  • cash from operations less capital spending against revenue-832.8%bottom 28% of its family
  • research spending against revenue1259.0%top 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
4.8/10

What could actually drive growth from here?

bottom 48% of 306 in its family for growth drivers.

weight 45% of this tense · 48th percentile among 306 sector filers · read for its customers

From the record

Janux Therapeutics, Inc.'s growth drivers, from the filed years to fiscal 2025: the newest year grew -5.6% (bottom 31%); research spending grew 33.1% a year (top 13%); capital spending grew -45.5% a year (bottom 24%) (its annual reports). Janux Therapeutics, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • the newest year's revenue growth-5.6%bottom 31% of its family
  • three-year growth of research spending33.1%top 13% of its family
  • three-year growth of capital spending-45.5%bottom 24% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
2.3/10

Did its newest year beat what its own record pointed to?

bottom 23% of 233 in its family for expectations against reality.

weight 22% of this tense · 23rd percentile among 233 sector filers · read for its shareholders

From the record

Janux Therapeutics, Inc.'s newest year against its own record: revenue of $10 million in fiscal 2025 came in 14.8% below the $12 million its prior three years' pace pointed to (bottom 35% of its family); net income of $114 million against a prior three-year average of $63 million (bottom 19%); a net margin of a loss larger than its revenue against losses larger than its revenue before (bottom 14%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-14.8%bottom 35% of its family
  • net income against the prior three years' average-79%bottom 19% of its family
  • net margin against its prior averagedown more than 100 pointsbottom 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton JANX · research, not advice