Janux Therapeutics, Inc. (JANX) Balance Sheet
JANX balance sheet, 2025
December 31, 2025 · U.S. dollars$1.01B assets = $50.7M liabilities + $956.8M equity
Both columns are drawn to the same scale: what JANX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
JANX financial health
Descriptive bands, not a rating. Fiscal 2025.
JANX balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $679,0002019 | $1.01B2025 | +237.7%/yr | |
| Total liabilities | $8.6M2019 | $50.7M2025 | +34.3%/yr | |
| Shareholders’ equity | −$7.9M2019 | $956.8M2025 | — | |
| Cash & short-term investments | $658,0002019 | $966.6M2025 | +237.2%/yr | |
| Total debt | $4.0M2019 | $22.1M2025 | +33.0%/yr | |
| Net cash (debt) | −$3.3M2019 | $944.4M2025 | +$947.8M | |
| Working capital | −$4.0M2019 | $950.9M2025 | +$954.9M | |
| Book value per share | −$0.192019 | $15.442025 | — | |
| Debt / equity | 0.002021 | 0.022025 | +0.02 | |
| Shares outstanding | 41.6M2019 | 62.0M2025 | +6.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
JANX assets
JANX liabilities and equity
JANX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
JANX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $966.6M | $1.03B | $344.0M | $327.0M | $375.0M | $7.8M | $658,000 |
| Cash & equivalents | $52.3M | $430.6M | $19.2M | $51.4M | $35.6M | $7.8M | $658,000 |
| Short-term investments | $914.2M | $594.6M | $324.8M | $275.6M | $339.4M | $0 | — |
| Receivables | $6.4M | $5.4M | $2.2M | $700,000 | $200,000 | $8.0M | $0 |
| Inventory | $0 | $0 | −$2.2M | −$700,000 | −$200,000 | $0 | $0 |
| Other current assets | $2.9M | $3.1M | $5.2M | $5.4M | $2.1M | $249,000 | $0 |
| Total current assets | $975.9M | $1.03B | $349.2M | $332.4M | $377.0M | $16.1M | $658,000 |
| Property, plant & equipment (net) | $22.3M | $24.1M | $27.8M | $29.4M | $1.6M | $155,000 | $21,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $9.4M | $3.7M | $3.3M | $2.2M | $1.2M | $0 | $0 |
| Total assets | $1.01B | $1.06B | $380.4M | $364.0M | $379.8M | $16.2M | $679,000 |
| Liabilities | |||||||
| Accounts payable | $5.0M | $4.0M | $2.4M | $2.2M | $2.5M | $428,000 | $267,000 |
| Short-term debt | $2.4M | $1.7M | $1.5M | $763,000 | $194,000 | $751,000 | $4.0M |
| Deferred revenue | — | — | $1.7M | $5.4M | $5.2M | $1.9M | — |
| Total current liabilities | $25.0M | $17.5M | $13.0M | $16.5M | $12.8M | $3.2M | $4.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $22.1M | $23.0M | $24.5M | $25.3M | $194,000 | $0 | — |
| Other long-term liabilities | $25.7M | $21.3M | $23.0M | $26.8M | $700,000 | $27.7M | $4.0M |
| Total liabilities | $50.7M | $38.7M | $36.1M | $43.3M | $13.5M | $30.9M | $8.6M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $60,000 | $59,000 | $46,000 | $42,000 | $41,000 | $1,000 | $1,000 |
| Retained earnings (deficit) | −$351.4M | −$237.8M | −$168.8M | −$110.5M | −$47.4M | −$14.7M | −$8.0M |
| Accumulated other comprehensive income | $4.3M | $2.2M | $665,000 | −$1.5M | −$270,000 | −$21.6M | −$4.0M |
| Total shareholders' equity | $956.8M | $1.02B | $344.3M | $320.7M | $366.3M | −$14.6M | −$7.9M |
| Key figures | |||||||
| Total debt | $22.1M | $23.0M | $24.5M | $25.3M | $194,000 | $751,000 | $4.0M |
| Net cash (debt) | $944.4M | $1.00B | $319.5M | $301.7M | $374.8M | $7.1M | −$3.3M |
| Working capital | $950.9M | $1.02B | $336.2M | $315.9M | $364.2M | $12.9M | −$4.0M |
| Tangible book value | $956.8M | $1.02B | $344.3M | $320.7M | $366.3M | −$14.6M | −$7.9M |
| Book value per share | $15.44 | $19.03 | $7.82 | $7.73 | $8.88 | −$0.35 | −$0.19 |
| Shares outstanding | 62.0M | 53.8M | 44.0M | 41.5M | 41.2M | 41.6M | 41.6M |
| Current ratio | 39.04 | 59.21 | 26.80 | 20.14 | 29.46 | 5.05 | 0.14 |
| Quick ratio | 38.92 | 59.03 | 26.57 | 19.85 | 29.32 | 4.97 | 0.14 |
| Debt / equity | 0.02 | 0.02 | 0.07 | 0.08 | 0.00 | — | — |
| Equity / assets | 95.0% | 96.4% | 90.5% | 88.1% | 96.4% | −90.3% | −1,170.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $970.9M | $956.4M | $966.6M | $989.0M | $996.0M | $1.01B | $1.03B | $658.0M | $646.3M | $651.8M | $344.0M | $349.7M |
| Cash & equivalents | $27.8M | $51.8M | $52.3M | $48.4M | $52.4M | $73.7M | $430.6M | $26.8M | $14.7M | $212.8M | $19.2M | $17.2M |
| Short-term investments | $943.1M | $904.6M | $914.2M | $940.6M | $943.6M | $940.4M | $594.6M | $631.3M | $631.6M | $439.0M | $324.8M | $332.6M |
| Receivables | $6.3M | $42.5M | $6.4M | $6.3M | $5.7M | $5.6M | $5.4M | $4.5M | $12.1M | $4.4M | $2.2M | $1.7M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $0 | −$2.2M | −$1.7M |
| Other current assets | $6.1M | $3.2M | $2.9M | $2.8M | $3.9M | $3.6M | $3.1M | $3.8M | $3.6M | $2.5M | $5.2M | $5.5M |
| Total current assets | $983.3M | $1.00B | $975.9M | $998.1M | $1.01B | $1.02B | $1.03B | $666.3M | $661.9M | $658.7M | $349.2M | $355.2M |
| Property, plant & equipment (net) | $20.6M | $21.4M | $22.3M | $23.2M | $23.1M | $23.8M | $24.1M | $25.1M | $26.0M | $27.0M | $27.8M | $28.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $3.7M | $4.8M | $9.4M | $3.4M | $3.5M | $3.6M | $3.7M | $3.6M | $3.5M | $3.3M | $3.3M | $3.1M |
| Total assets | $1.01B | $1.03B | $1.01B | $1.02B | $1.03B | $1.05B | $1.06B | $695.0M | $691.4M | $689.0M | $380.4M | $386.9M |
| Liabilities | ||||||||||||
| Accounts payable | $3.0M | $3.4M | $5.0M | $3.4M | $3.5M | $2.4M | $4.0M | $2.5M | $1.3M | $2.3M | $2.4M | $2.5M |
| Short-term debt | $2.6M | $2.5M | $2.4M | $2.3M | $1.9M | $1.8M | $1.7M | $1.7M | $1.6M | $1.6M | $1.5M | $1.5M |
| Deferred revenue | $35.1M | $37.6M | — | — | — | — | — | — | $94,000 | $972,000 | $1.7M | $3.6M |
| Total current liabilities | $60.2M | $58.9M | $25.0M | $27.8M | $21.4M | $17.5M | $17.5M | $17.2M | $11.5M | $10.6M | $13.0M | $14.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $21.0M | $21.6M | $22.1M | $22.7M | $22.2M | $22.6M | $23.0M | $23.4M | $23.8M | $24.2M | $24.5M | $24.9M |
| Other long-term liabilities | $19.5M | $27.8M | $25.7M | $20.4M | $20.3M | $20.8M | $21.3M | $21.7M | $22.2M | $22.6M | $23.0M | $23.4M |
| Total liabilities | $79.7M | $86.7M | $50.7M | $48.2M | $41.7M | $38.3M | $38.7M | $38.9M | $33.7M | $33.2M | $36.1M | $37.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $61,000 | $60,000 | $60,000 | $60,000 | $59,000 | $59,000 | $59,000 | $52,000 | $52,000 | $51,000 | $46,000 | $46,000 |
| Retained earnings (deficit) | −$397.7M | −$375.7M | −$351.4M | −$319.4M | −$295.1M | −$261.3M | −$237.8M | −$217.5M | −$189.5M | −$183.5M | −$168.8M | −$157.0M |
| Accumulated other comprehensive income | −$2.3M | $576,000 | $4.3M | $4.6M | $3.7M | $3.8M | $2.2M | $7.8M | −$1.6M | −$524,000 | $665,000 | −$1.2M |
| Total shareholders' equity | $928.0M | $941.5M | $956.8M | $976.6M | $990.5M | $1.01B | $1.02B | $656.1M | $657.7M | $655.8M | $344.3M | $348.9M |
| Key figures | ||||||||||||
| Total debt | $21.0M | $21.6M | $22.1M | $22.7M | $22.2M | $22.6M | $23.0M | $23.4M | $23.8M | $24.2M | $24.5M | $24.9M |
| Net cash (debt) | $949.9M | $934.8M | $944.4M | $966.3M | $973.8M | $991.5M | $1.00B | $634.6M | $622.5M | $627.6M | $319.5M | $324.8M |
| Working capital | $923.2M | $943.1M | $950.9M | $970.3M | $984.2M | $1.01B | $1.02B | $649.1M | $650.4M | $648.1M | $336.2M | $340.7M |
| Tangible book value | $928.0M | $941.5M | $956.8M | $976.6M | $990.5M | $1.01B | $1.02B | $656.1M | $657.7M | $655.8M | $344.3M | $348.9M |
| Book value per share | $14.74 | $15.02 | $15.44 | $15.74 | $16.00 | $16.39 | $18.00 | $12.01 | $12.08 | $13.37 | $7.38 | $7.63 |
| Shares outstanding | 62.9M | 62.7M | 62.0M | 62.0M | 61.9M | 61.8M | 56.8M | 54.6M | 54.5M | 49.0M | 46.7M | 45.7M |
| Current ratio | 16.35 | 17.01 | 39.04 | 35.86 | 47.03 | 58.47 | 59.21 | 38.80 | 57.34 | 62.09 | 26.80 | 24.55 |
| Quick ratio | 16.25 | 16.95 | 38.92 | 35.76 | 46.85 | 58.26 | 59.03 | 38.58 | 57.02 | 61.85 | 26.57 | 24.28 |
| Debt / equity | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.04 | 0.04 | 0.04 | 0.07 | 0.07 |
| Equity / assets | 92.1% | 91.6% | 95.0% | 95.3% | 96.0% | 96.4% | 96.4% | 94.4% | 95.1% | 95.2% | 90.5% | 90.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
JANX financial position
At the end of fiscal 2025 (December 31, 2025), Janux Therapeutics had total assets of $1.0 billion (down 5.1% from a year earlier), total liabilities of $50.7 million and shareholders' equity of $956.8 million. It held $966.6 million in cash and short-term investments against $22.1 million of debt, a net cash position of $944.4 million. Its current ratio was 39.04. In the latest quarter (ended June 30, 2026) total assets were $1.0 billion and equity $928.0 million.
Related: JANX income statement, JANX cash flow statement, JANX key metrics. See the JANX stock overview for the latest quote and news.
JANX balance sheet FAQ
What are Janux Therapeutics's total assets?
Janux Therapeutics reported total assets of $1.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.1 billion a year earlier.
How much debt does Janux Therapeutics have?
Janux Therapeutics had $22.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.02.
How much cash does Janux Therapeutics have?
Janux Therapeutics held $966.6 million in cash and short-term investments at the end of fiscal 2025; with $22.1 million of debt that is net cash of $944.4 million.
What is Janux Therapeutics's book value?
Janux Therapeutics's shareholders' equity (book value) was $956.8 million at the end of fiscal 2025, or $15.44 per share.
What is Janux Therapeutics's current ratio?
Janux Therapeutics had current assets of $975.9 million and current liabilities of $25.0 million, a current ratio of 39.04 (it can cover its short-term obligations).