Janux Therapeutics(US:JANX)2025-02-27 21:49Financial Performance - Janux reported $1.03 billion in cash, cash equivalents, and short-term investments as of December 31, 2024, compared to $344.0 million at the end of 2023, representing a 200% increase[10]. - The net loss for Q4 2024 was $20.2 million, compared to $11.8 million in Q4 2023, and the total net loss for the year was $69.0 million, up from $58.3 million in 2023, marking an 18.5% increase[10]. - Janux's total assets increased to $1.06 billion as of December 31, 2024, compared to $380.4 million at the end of 2023, reflecting a significant growth in the company's financial position[14]. Research and Development - Research and development expenses for Q4 2024 were $20.8 million, up from $12.2 million in Q4 2023, and total R&D expenses for the year were $68.4 million, compared to $54.9 million in 2023, reflecting a 24.5% year-over-year increase[10]. - Janux plans to provide updates on JANX007 and JANX008 data in 2025, with ongoing enrollment in both Phase 1 clinical trials[4]. - The company anticipates hosting an R&D Day in 2025 to disclose new programs moving toward the clinic[4]. Clinical Trials - Positive Phase 1 clinical trial data for PSMA-TRACTr JANX007 showed a 100% best PSA50 response rate and 63% best PSA90 declines among 16 patients as of November 15, 2024[5]. Management Changes - Zachariah McIver, D.O., Ph.D. was promoted to Chief Medical Officer, bringing over 15 years of clinical research experience to lead Janux's clinical programs[6]. Capital Raising - The company raised approximately $402.5 million in gross proceeds from an underwritten offering of common stock and pre-funded warrants in December 2024[5]. General and Administrative Expenses - General and administrative expenses for Q4 2024 were $8.2 million, compared to $6.4 million in Q4 2023, and total G&A expenses for the year were $41.0 million, up from $26.1 million in 2023, indicating a 56.9% increase year-over-year[10].