Janux Therapeutics Inc. has reported its financial results for the second quarter ended June 30, 2025. The company disclosed cash and cash equivalents and short-term investments of $996.0 million, a decrease from $1.03 billion at the end of December 2024. Research and development expenses saw a significant rise to $34.7 million, up from $14.9 million during the same period in 2024. General and administrative expenses also increased to $10.5 million from $7.8 million in the previous year. The net loss for the quarter was $33.9 million compared to $6.0 million for the same period in 2024. The company highlighted the progress in its TRACTr, TRACIr, and ARM development programs, indicating potential in oncology and autoimmune diseases. Enrollment continues for JANX007 and JANX008, with updates expected in the second half of 2025. Additionally, a milestone payment of $10 million from Merck was triggered by the dosing of the first patient in a lead collaboration program.
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