Janux Therapeutics, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
JANX$12.76-27.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Cash Flows
(in thousands)
| Year EndedDecember 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities | |||
| Net loss | $(113,625) | $(68,994) | $(58,293) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation | 2,029 | 2,060 | 1,955 |
| Stock-based compensation | 40,221 | 33,020 | 20,005 |
| Accretion of discounts on investments, net | (17,574) | (10,585) | (7,688) |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other current assets | (827) | (3,280) | 210 |
| Other long-term assets | 276 | (375) | (1,119) |
| Accounts payable | 977 | 1,584 | 277 |
| Accrued expenses | 6,290 | 4,426 | (678) |
| Deferred revenue | — | (1,705) | (5,922) |
| Operating lease right-of-use assets and liabilities, net | (2) | 35 | 678 |
| Net cash used in operating activities | (82,235) | (43,814) | (50,575) |
| Cash flows from investing activities | |||
| Purchases of property and equipment | (1,043) | (359) | (1,850) |
| Purchases of short-term investments | (705,222) | (470,577) | (317,344) |
| Maturities of short-term investments | 405,284 | 212,915 | 278,000 |
| Net cash used in investing activities | (300,981) | (258,021) | (41,194) |
| Cash flows from financing activities | |||
| Proceeds from exercise of common stock options and employee stock purchase plan | 5,292 | 14,968 | 3,018 |
| Proceeds from the issuance of common stock and pre-funded common stock warrants, net of issuance costs | (347) | 698,267 | 56,530 |
| Net cash provided by financing activities | 4,945 | 713,235 | 59,548 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (378,271) | 411,400 | (32,221) |
| Cash, cash equivalents and restricted cash – beginning of year | 431,421 | 20,021 | 52,242 |
| Cash, cash equivalents and restricted cash – end of period | $53,150 | $431,421 | $20,021 |
| Supplemental disclosure of noncash investing and financing activities | |||
| Unpaid property and equipment | $— | $6 | $132 |
| Unpaid issuance costs | $— | $347 | $— |
| Vesting of restricted common stock | $— | $20 | $149 |
| Unrealized gain on available-for-sale securities, net | $2,153 | $1,498 | $2,200 |
| Operating lease liabilities arising from right-of-use assets | $943 | $— | $— |
Notes to Financial Statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.