Janux Therapeutics(US:JANX)2024-11-06 21:07Financial Performance - As of September 30, 2024, Janux reported cash and cash equivalents and short-term investments of $658.0 million, up from $344.0 million at December 31, 2023, representing a 91.5% increase[3] - For Q3 2024, Janux reported a net loss of $28.1 million, compared to a net loss of $11.6 million for the same period in 2023, indicating a 142.3% increase in losses[5] - Total operating expenses for Q3 2024 were $36.3 million, compared to $18.3 million for the same period in 2023, representing a 98.1% increase[11] Research and Development - Research and development expenses for Q3 2024 were $18.6 million, compared to $11.9 million for the same period in 2023, reflecting a 56.4% increase[3] - Janux is developing a broad pipeline of TRACTr and TRACIr therapeutics targeting various solid tumors, with ongoing assessments of preclinical pipeline priorities[8] - The company is currently enrolling participants in the Phase 1 clinical trials for JANX007 and JANX008, with updates on JANX007 data expected by year-end 2024[2] - An update on JANX008 data is anticipated in 2025, as the company continues to progress in its clinical trials[2] Administrative Expenses - General and administrative expenses for Q3 2024 were $17.7 million, significantly higher than $6.4 million for the comparable period in 2023, marking a 176.6% increase[4] - The company incurred $9.5 million in stock-based compensation expense in Q3 2024, contributing to the rise in general and administrative expenses[4] Shareholder Information - The weighted-average shares of common stock outstanding for Q3 2024 were 54,628,670, compared to 45,708,649 for the same period in 2023, reflecting a 19.5% increase[11]