Janux Therapeutics Inc. Common Stock (JANX)

FairStock Score: 37/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am a value investor first, and Graham taught me that without earnings there is no margin of safety to calculate, only hope. Janux is a clinical-stage cancer immunotherapy company. The filed numbers show a business still far from profitability. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $10.3 million and net loss was $22.0 million. Fiscal Q1 2026 revenue was $3.7 million with a $24.4 million net loss. For fiscal year 2025, revenue was $10.0 million and net loss was $113.6 million; fiscal year 2024 had a $69.0 million net loss, and fiscal year 2023 had a $58.3 million net loss. The Lynch category is none because it lost money in each of the last four years. Trailing free cash flow is -$41.9 million, a -4.0% FCF yield as FairStock calculates. The balance sheet shows low leverage—D/E 0.02—and an Altman Z-Score of 8.36, but that does not create an earnings moat. At the $17.18 close on 2026-10-13, P/B is 1.13 and P/E is negative at -10.48, so the price cannot be judged on profits. ROE is -10.70% and ROCE is -8.80%. Revenue has been uneven: $8.1 million in fiscal year 2023, $10.6 million in fiscal year 2024, and $10.0 million in fiscal year 2025. FairStock Score is 37/100, beta 2.52. The pipeline may be valuable, but I see no durable competitive advantage in the reported financials, and the 52-week range of $12.12 to $35.34 shows how sentiment-driven the shares are.

In plain English: Janux Therapeutics is a small biotech company working on cancer treatments that use the immune system. It is not yet profitable: it lost money in each of the last four years, including $113.6 million in fiscal year 2025, and it spent more cash than it brought in over the past year, about $41.9 million. At the $17.18 close on 2026-10-13, the stock is not cheap based on profits because there are none; it trades near the accounting value of its net assets, so the price mostly reflects hope for future pipeline success.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer