Janux Q2 net loss $33.9M; cash $996M; Merck milestone $10M triggered

Janux Therapeutics, Inc.

2025-Q2 EPS reported -$0.93

Cash and short-term investments $996.0M at June 30, 2025, vs $1.03B at Dec 31, 2024.
R&D expenses $34.7M (Q2 2025) vs $14.9M (Q2 2024); net loss $33.9M vs $6.0M.
First patient dosed in lead Merck collaboration program triggered $10M milestone payment.
Enrollment ongoing for JANX007 (mCRPC) and JANX008 (solid tumors); data updates expected H2 2025.
R&D Day highlighted preclinical PSMA-TRACIr, TROP2-TRACTr, and CD19-ARM programs.

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