# EDGAR Filing Document

**Accession Number:** 0001817713
**File Stem:** 0001193125-26-076627
**Filing Date:** 2026-2
**Character Count:** 19572
**Document Hash:** e023703dd8eda2a4bfcfd6ad37300339
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-076627.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001193125-26-076627

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260226

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Janux Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0001817713
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 822289112
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40475
- **FILM NUMBER:** 26688099

**BUSINESS ADDRESS:**
- **STREET 1:** 10955 VISTA SORRENTO PARKWAY
- **STREET 2:** SUITE 200
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92130
- **BUSINESS PHONE:** (858) 751-4493

**MAIL ADDRESS:**
- **STREET 1:** 10955 VISTA SORRENTO PARKWAY
- **STREET 2:** SUITE 200
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92130

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549** 

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**FORM** 8-K

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**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d)** 

**of the Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported):** **February 26, 2026**

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Janux Therapeutics, Inc.

**(Exact name of Registrant as Specified in Its Charter)** 

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| | | |
|:---|:---|:---|
| Delaware | 001-40475 | 82-2289112 |
| **(State or Other Jurisdiction**<br>**of Incorporation)** | **(Commission File Number)** | **(IRS Employer**<br>**Identification No.)** |
| 10955 Vista Sorrento Parkway**,** Suite 200<br>San Diego**,** California |  | 92130 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant's Telephone Number, Including Area Code:** (858) 751-4493

**N/A**

**(Former Name or Former Address, if Changed Since Last Report)** 

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.001 par value per share | JANX | Nasdaq Global Market |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 2.02 Results of Operations and Financial Condition.**

On February 26, 2026, Janux Therapeutics, Inc. (the "Company") issued a press release announcing its financial results for the year ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1.

The information in this Item and the exhibit attached hereto are being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, whether filed before or after the date hereof and regardless of any general incorporation language in such filing.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit No.** | **<u>Description</u>** |
| 99.1 | [<u>Press Release of Janux Therapeutics, Inc. dated February 26, 2026</u>](janx-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **JANUX THERAPEUTICS, INC.** | **JANUX THERAPEUTICS, INC.** |
| Date: February 26, 2026 | By: | /s/ David Campbell, Ph.D. |
|  |  | David Campbell, Ph.D. |
|  |  | President and Chief Executive Officer |

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## Exhibit 99.1

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| | |
|:---|:---|
| ![img201480580_0.jpg](img201480580_0.jpg) | **Exhibit 99.1**<br>|

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**Janux Therapeutics Reports Fourth Quarter and Full Year 2025 Financial Results and Business Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;•*Continued clinical execution across TRACTr programs JANX007 and JANX008* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*JANX007 enrolling in Phase 1b Taxane-naïve patient population in metastatic castration-resistant prostate cancer (mCRPC)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•*JANX008 enrolling expansion cohorts in defined tumor settings*

&nbsp;&nbsp;&nbsp;&nbsp;•*Initiated Phase 1 study of JANX011 in healthy volunteers*

&nbsp;&nbsp;&nbsp;&nbsp;•*Entered collaboration and exclusive worldwide license agreement with Bristol Myers Squibb to develop a novel tumor-activated therapeutic for solid tumors*

&nbsp;&nbsp;&nbsp;&nbsp;•*Appointment of William Go, M.D., Ph.D., as Chief Medical Officer* 

&nbsp;&nbsp;&nbsp;&nbsp;•*Strong year-end cash position supporting continued pipeline execution*

SAN DIEGO, February 26, 2026 – Janux Therapeutics, Inc. (Nasdaq: JANX) (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies, today reported financial results for the fourth quarter and full year ended December 31, 2025, and provided a business update.

"The past year marked a period of significant execution and progress for Janux as we continued to translate the promise of our tumor-activated platform into meaningful clinical and strategic advances. Recent JANX007 clinical results demonstrate clinical activity and a consistent and predictable safety profile in mCRPC and support continued advancement in taxane-naïve patients as well as other expansion cohorts," said David Campbell, Ph.D., President and CEO of Janux.

"In early 2026, we announced a collaboration with Bristol Myers Squibb that provides near-term capital and further validates the potential of our platform. We also continue to strengthen our team to support the next phase of clinical and pipeline growth. With additional product candidates entering the clinic in 2026, we believe Janux is well positioned to execute on our clinical strategy and continue to build long-term value for patients and shareholders."

**BUSINESS HIGHLIGHTS AND RECENT DEVELOPMENTS:**

**Clinical & Pipeline Progress**

&nbsp;&nbsp;&nbsp;&nbsp;•Janux presented updated interim Phase 1 data for **JANX007 (PSMA-TRACTr)** in December 2025. As of the October 15, 2025 data cutoff, 109 patients had been treated across Phase 1 cohorts:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Durable clinical activity was observed across both once-weekly (QW) and every-two-week (Q2W) cohorts, with median radiographic progression-free survival (rPFS) ranging from 7.9 to 8.9 months. The rPFS in the Q2W cohort compared favorably to the QW expansion group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Data demonstrated high prostate-specific antigen (PSA) response rates including deep PSA declines. Anti-tumor activity was observed, with confirmed and unconfirmed partial responses in 30% (8/27) of RECIST-evaluable patients.

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&nbsp;&nbsp;&nbsp;&nbsp;•Ongoing dose optimization of JANX007 monotherapy is focused on taxane-naïve mCRPC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Phase 1 study also includes expansion cohorts evaluating JANX007 in combination with darolutamide, an androgen receptor pathway inhibitor, to further characterize safety and clinical activity in taxane-naïve mCRPC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Additional expansion cohorts are evaluating JANX007 monotherapy in patients with PARP inhibitor-refractory mCRPC, supporting assessment of activity in a high-unmet-need population.

&nbsp;&nbsp;&nbsp;&nbsp;•**JANX008 (EGFR-TRACTr)** continues to enroll in its Phase 1 clinical trial in a defined group of solid tumors, with expansion cohorts underway to further characterize safety and clinical activity.

&nbsp;&nbsp;&nbsp;&nbsp;•**JANX011 (CD19-ARM)** is actively enrolling its Phase 1 clinical trial in healthy volunteers.

**Strategic Collaboration**

&nbsp;&nbsp;&nbsp;&nbsp;•In January 2026, Janux announced a collaboration and exclusive worldwide license agreement with Bristol Myers Squibb to develop a novel tumor-activated therapeutic targeting a validated solid tumor antigen.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Under the terms of the agreement, Janux is eligible to receive $50 million in upfront and near-term milestone payments, with the potential for additional development, regulatory and commercial milestones totaling approximately $800 million, as well as tiered royalties on global product sales, if successful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Janux will lead preclinical development through IND submission, with Bristol Myers Squibb assuming responsibility for subsequent clinical development and global commercialization.

**Corporate & Leadership**

&nbsp;&nbsp;&nbsp;&nbsp;•Janux recently announced the appointment of William Go, M.D., Ph.D. as Chief Medical Officer, strengthening the Company's clinical leadership as additional programs enter the clinic in 2026 and progress toward later-stage development.

**Upcoming Milestones**

&nbsp;&nbsp;&nbsp;&nbsp;•The Company expects to provide additional clinical data for JANX007 in 2026 or present these data at a future medical meeting.

&nbsp;&nbsp;&nbsp;&nbsp;•The Company expects to provide additional clinical update for JANX008 in 2026.

&nbsp;&nbsp;&nbsp;&nbsp;•The Company expects to announce initial clinical update from the Phase 1 study of JANX011 in healthy volunteers by year-end 2026.

**FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS:**

&nbsp;&nbsp;&nbsp;&nbsp;•**Cash and cash equivalents and short-term investments:** As of December 31, 2025, Janux reported cash and cash equivalents and short-term investments of $966.6 million, compared to $1.03 billion on December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;•**Research and development expenses:** Research and development expenses were $31.5 million for the quarter and $125.9 million for the year ended December 31, 2025, compared to $20.8 million and $68.4 million for the same quarter and year in 2024.

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&nbsp;&nbsp;&nbsp;&nbsp;•**General and administrative expenses:** General and administrative expenses were $10.9 million for the quarter and $41.8 million for the year ended December 31, 2025, compared to $8.2 million and $41.0 million for the same quarter and year in 2024.

&nbsp;&nbsp;&nbsp;&nbsp;•**Net loss:** Net loss was $31.9 million for the quarter and $113.6 million for the year ended December 31, 2025, compared to $20.2 million and $69.0 million for the same quarter and year in 2024.

**About Janux Therapeutics**

Janux is a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr), Tumor Activated Immunomodulator (TRACIr), and Adaptive Immune Response Modulator (ARM) platforms. Janux's first clinical candidate, JANX007, is a TRACTr that targets prostate-specific membrane antigen (PSMA) and is being investigated in a Phase 1 clinical trial in adult patients with mCRPC. Janux's second clinical candidate, JANX008, is a TRACTr that targets epidermal growth factor receptor (EGFR) and is being studied in a Phase 1 clinical trial for the treatment of multiple solid tumors. Janux is also advancing its first ARM platform clinical candidate, JANX011, a CD19-ARM for the potential treatment of autoimmune diseases in a Phase 1 study in healthy adult volunteers. Janux continues to generate a number of additional TRACTr, TRACIr, and ARM programs for potential future development. For more information, please visit www.januxrx.com and follow us on LinkedIn.

**Forward-Looking Statements**

This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, Janux's ability to bring new treatments to cancer patients in need, expectations regarding the timing, scope and results of Janux's development activities, including its ongoing and planned preclinical studies and clinical trials, and the potential benefits of Janux's product candidates and platform technologies, expectations regarding the use of Janux's platform technologies to generate novel product candidates and the strength of Janux's balance sheet and the adequacy of cash on hand. Factors that may cause actual results to differ materially include the risk that interim results of a clinical trial are not necessarily indicative of final results and one or more of the clinical outcomes may materially change as patient enrollment continues, following more comprehensive reviews of the data and as more patient data becomes available, including the risk that unconfirmed responses may not ultimately result in confirmed responses to treatment after follow-up evaluations, the risk that compounds that appear promising in early research do not demonstrate safety and/or efficacy in later preclinical studies or clinical trials, the risk that Janux may not obtain approval to market its product candidates, uncertainties associated with performing clinical trials, regulatory filings and applications, risks associated with reliance on third parties to successfully conduct clinical trials, the risks associated with reliance on outside financing to meet capital requirements, and other risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "promise," "potential," "expects," "plans," "anticipates," "intends," "continues," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties Janux faces, please refer to Janux's periodic and other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and Janux assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

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**Janux Therapeutics, Inc.**

**Condensed Balance Sheets**

**(in thousands)**

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| | | |
|:---|:---|:---|
|  | **December 31,<br>2025** | **December 31,<br>2024** |
| **Assets** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $52334 | $430605 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | 914233 | 594568 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 9320 | 8493 |
| Total current assets | 975887 | 1033666 |
| Restricted cash | 816 | 816 |
| Property and equipment, net | 3852 | 4864 |
| Operating lease right-of-use assets | 18402 | 19286 |
| Other long-term assets | 2608 | 2884 |
| Total assets | $1001565 | $1061516 |
| **Liabilities and Stockholders' Equity** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $4971 | $4026 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | 17633 | 11684 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of operating lease liabilities | 2393 | 1749 |
| Total current liabilities | 24997 | 17459 |
| Operating lease liabilities, net of current portion | 19746 | 21276 |
| Total liabilities | 44743 | 38735 |
| Total stockholders' equity | 956822 | 1022781 |
| Total liabilities and stockholders' equity | $1001565 | $1061516 |

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**Janux Therapeutics, Inc.** 

**Condensed Statements of Operations and Comprehensive Loss**

**(in thousands, except share and per share data)**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended<br>December 31,** | **Three Months Ended<br>December 31,** | **Year Ended<br>December 31,** | **Year Ended<br>December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Collaboration revenue | $— | $— | $10000 | $10588 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 31548 | 20806 | 125896 | 68388 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 10853 | 8216 | 41771 | 41047 |
| Total operating expenses | 42401 | 29022 | 167667 | 109435 |
| Loss from operations | (42401) | (29022) | (157667) | (98847) |
| Total other income |  | 8806 |  | 29853 |
| Net loss | $(42401) | $(20216) | $(157667) | $(68994) |
| Other comprehensive gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized gain (loss) on available-for-sale securities, net | 10455 | (5668) | 44042 | 1498 |
| Comprehensive loss | $(31946) | $(25884) | $(113625) | $(67496) |
| Net loss per common share, basic and diluted | $(0.51) | $(0.36) | $(1.83) | $(1.28) |
| Weighted-average shares of common stock outstanding, basic and diluted | 62145668 | 56832374 | 61966999 | 53751480 |

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**Contacts**

**Investors:**

Chad Rubin

Endurance Advisors

crubin@enduranceadvisors.com

646.319.3261 **<br>Media:**

Jessica Yingling, Ph.D.

Little Dog Communications Inc.

jessica@litldog.com

858.344.8091 ------