Janux Therapeutics JANX is making steady progress across its oncology and immunotherapy pipeline, led by its three proprietary tumor-activated core platforms, including Tumor Activated T Cell Engager (TRACTr), Tumor Activated Immunomodulator (TRACIr) and Adaptive Immune Response Modulator (ARM). The company’s pipeline comprises several wholly owned assets, notably JANX007, JANX014, JANX011 and JANX013.
Progress Across JANX’s Pipeline Programs
Janux Therapeutics’ lead prostate cancer candidate, JANX007, is advancing through an ongoing phase Ib study in metastatic castration-resistant prostate cancer (mCRPC), with dose optimization and expansion continuing in taxane-naïve patients. The company is also evaluating JANX007 in combination with darolutamide to potentially improve outcomes in earlier-stage mCRPC patients. Additional data on JANX007 is expected in the first half of 2027.
JANX initiated patient dosing in a phase I study in April, evaluating JANX014, a next-generation double-masked prostate-specific membrane antigen (PSMA) TRACTr program designed to enhance tumor selectivity and safety in prostate cancer.
Janux Therapeutics has also advanced JANX011 into an early-stage study through its proprietary ARM platform in healthy volunteers, marking the company’s expansion into autoimmune diseases beyond oncology. Patient dosing is ongoing. JANX plans to provide an initial clinical update from the study in the second half of 2026.
The company continues to advance additional TRACTr, TRACIr and ARM programs for potential future development. Janux Therapeutics intends to begin clinical development of JANX013, a PSMA-targeted CD28 costimulatory TRACIr candidate, later in 2026.
Though the stock was down around 74% in 2025, it is improving in 2026. Year to date, JANX shares have risen 5.3% against the industry’s 0.5% decline.
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Beyond these wholly-owned pipeline candidates, Janux Therapeutics has strategic collaborations with Merck & Co. MRK and Bristol Myers Squibb BMY to develop novel tumor-activated therapies using the TRACTr platform.
Strategic Collaboration With the Bigwigs
JANX entered into a collaboration and exclusive worldwide license agreement with BMY in January. Per the agreement, the companies are expected to develop a novel, tumor-activated therapeutic targeting a validated solid tumor antigen expressed across several human cancer types. While JANX will lead preclinical development, BMY will oversee late-stage development and global commercialization. The partnership reached a development-candidate nomination milestone, resulting in a $35 million payment to JANX.
Janux Therapeutics initiated patient dosing in its TRACTr collaboration program with MRK (known as MSD outside the United States and Canada) in August 2025 and remains eligible for future milestone payments and royalties tied to the program’s development and commercialization.
Janux Therapeutics, Inc. Price and Consensus
Janux Therapeutics, Inc. price-consensus-chart | Janux Therapeutics, Inc. Quote
JANX's Zacks Rank & Estimates
Janux Therapeutics currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Over the past 30 days, estimates for JANX’s 2026 loss per share have narrowed from $2.50 to $1.79, while 2027 estimates for loss per share have improved from $3.50 to $2.83.
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This article originally published on Zacks Investment Research (zacks.com).