JANX — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• ongoing and planned research and development activities and conduct preclinical studies and clinical trials, hire additional personnel, protect our intellectual property and incur additional costs associated with being a public company.

• Research and development expenses were $31.0 million and $34.7 million for the three months ended June 30, 2026 and 2025, respectively. The decrease of $3.7 million was primarily due to decreases in direct costs related to the development of JANX011 of $4.0 million, direct costs related to the devel…

• Comparison of the Six Months Ended June 30, 2026 and 2025 (in thousands)

• Collaboration revenues were $14.0 million and $0 for the six months ended June 30, 2026 and 2025, respectively. The increase of $14.0 million was due to the execution of the BMS Agreement in January 2026 and the related revenue recognized based on the full-time equivalent hours and costs incurred in…

• The following table summarizes our direct and indirect research and development expenses for the six months ended June 30, 2026 and 2025 (in thousands):

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• revenue for each of the three months ended March 31, 2026 and 2025, respectively. Under the BMS Agreement, we recognized $3.7 million for the three months ended March 31, 2026.

• Research and development expenses were $26.8 million and $25.1 million for the three months ended March 31, 2026 and 2025, respectively. The increase of $1.7 million was primarily due to increases in preclinical stage programs and other direct unallocated costs of $1.4 million. Additional increases …

• We have incurred net losses and negative cash flows from operations since our inception and anticipate we will continue to incur net losses and negative cash flows for the foreseeable future. As of March 31, 2026, we had cash, cash equivalents, restricted cash and short-term investments of $957.2 mi…

• In May 2023, we entered into an ATM Equity OfferingSM Sales Agreement (Sale Agreement) with BofA Securities, Inc. (BofA) to sell shares of our common stock, from time to time, through an “at the market offering” program having an aggregate offering price of up to $150.0 million through which BofA wo…

• limit, reduce or terminate our product development or future commercialization efforts or grant rights to develop and market our product candidates even if we would otherwise prefer to develop and market such product candidates ourselves.

Text added vs the prior filing · source: 10-Q · 2026-08-06

• We are not currently exposed to significant market risk related to changes in foreign currency exchange rates; however, we do contract with vendors that are located outside of the United States and may be subject to fluctuations in foreign currency rates. We may enter into additional contracts with …

• Inflation generally affects us by increasing our cost of labor and preclinical and clinical development costs. We do not believe that inflation had a material effect on our business, financial condition or results of operations during the three and six months ended June 30, 2026.

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• which are designed to maintain safety and liquidity. We believe that, if a 10.0% change in interest rates were to have occurred on March 31, 2026, this change would not have had a material effect on the fair value of our investment portfolio as of that date. Any changes would only be realized if we …

• We are not currently exposed to significant market risk related to changes in foreign currency exchange rates; however, we do contract with vendors that are located outside of the United States and may be subject to fluctuations in foreign currency rates. We may enter into additional contracts with …

• Inflation generally affects us by increasing our cost of labor and preclinical and clinical development costs. We do not believe that inflation had a material effect on our business, financial condition or results of operations during the three months ended March 31, 2026.

Text added vs the prior filing · source: 10-Q · 2026-08-06

• Specifically, there are many companies pursuing a variety of approaches to immuno-oncology and autoimmune disease treatments, including large pharmaceutical and biotechnology companies such as AbbVie, Amgen, Astellas, AstraZeneca, Bayer, BeOne Medicines, Boehringer Ingelheim, Bristol Myers Squibb, C…

• including T cell engagers, radiopharmaceuticals, antibody-drug conjugates, cell therapies, and masked and conditionally activated biologics.

• We cannot predict the likelihood, nature or extent of government regulation that may arise from future legislation or administrative action, either in the United States or abroad. For example, the regulatory landscape related to clinical trials in the EU has undergone recent changes. The EU Clinical…

• In the European Union, many EU Member States periodically review their reimbursement procedures for medicinal products, which could have an adverse impact on reimbursement status. Moreover, in order to obtain reimbursement for our products in some European countries, including some EU Member States,…

• In addition, on December 11, 2025, the European Commission, the Parliament and the European Council reached a political agreement on the Pharma Package. The reform has been under negotiation since the European Commission submitted its proposal in April 2023. This package, comprised of a new directiv…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• Specifically, there are many companies pursuing a variety of approaches to immuno-oncology and autoimmune disease treatments, including large pharmaceutical and biotechnology companies, such as AbbVie, Amgen, AstraZeneca, Biogene, Bristol Myers Squibb, Eli Lilly, Gilead, GlaxoSmithKline, Johnson & J…

• We cannot predict the likelihood, nature or extent of government regulation that may arise from future legislation or administrative action, either in the United States or abroad. For example, the regulatory landscape related to clinical trials in the EU has undergone recent changes. The EU Clinical…

• In addition, on December 11, 2025, the European Commission, the Parliament and the European Council reached a political agreement on the Pharma Package. The reform has been under negotiation since the European Commission submitted its proposal in April 2023. This package, comprised of a new directiv…

Text added vs the prior filing · source: 10-Q · 2026-08-06

• On May 12, 2026, Tommy DiRaimondo, Ph.D., our Chief Scientific Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act for the sale of up to 97,938 shares of our common stock until August 15, 2027.

• On May 12, 2026, Maria Dobek, our Vice President, Accounting, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act for the sale of up to 94,171 shares of our common stock until August 15, 2027.

• In addition, our officers (as defined in Rule 16a-1(f) under the Exchange Act) have entered into sell-to-cover arrangements adopted pursuant to Rule 10b5-1 authorizing the pre-arranged sale of shares to satisfy our tax withholding obligations arising exclusively from the vesting of restricted stock …