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Janux Therapeutics Secures $35M Milestone Payment From BMY Deal
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Key Takeaways
Janux Therapeutics earned a $35M milestone after nominating a TRACTr-based cancer candidate.
Bristol Myers will lead clinical development and commercialization under the collaboration deal.
Janux gains funding, milestone potential, and royalties while advancing its oncology pipeline.
Janux Therapeutics (JANX - Free Report) announced the nomination of a development candidate under its global collaboration with biotech giant Bristol Myers Squibb BMY, triggering a $35 million milestone payment.
The candidate is a tumor-activated therapy developed using Janux’s TRACTr platform, targeting an undisclosed antigen found across multiple solid tumors. The milestone highlights progress in translating Janux’s platform technologies into potential cancer treatments.
The stock gained 4.4% on April 1. Shares of Janux have gained 5.2% year to date compared with the industry’s 4.2% growth.
Image Source: Zacks Investment Research
More on JANX’s Collaboration With BMY
In early 2026, JANX entered into a collaboration with BMY. Under the agreement, Janux will lead preclinical development through IND submission. BMY will hold the IND and take over subsequent clinical development and global commercialization of products arising from the collaboration. Janux will continue supporting the program through completion of the first phase I study.
Along with the $35 million milestone tied to the development candidate nomination, Janux is eligible for further development, regulatory, and commercial milestone payments, as well as tiered royalties on worldwide product sales.
The deal allows clinical-stage biotech company JANX to leverage its platform expertise while shifting the capital-intensive later-stage development risk to a large pharmaceutical partner like BMY.
By partnering with Bristol Myers — one with a strong and broad oncology portfolio — Janux has gained access to deep clinical, regulatory and commercial capabilities.
The influx of capital in the form of upfront payments and potential milestone payments provides funding for its pipeline programs.
Other Candidates in JANX’s Pipeline
Janux is developing immunotherapies using its TRACTr, TRACIr and ARM platforms. Its pipeline includes JANX007 for prostate cancer, JANX008 for solid tumors and JANX011 for autoimmune diseases.
The company reported updated interim phase I data for JANX007 (PSMA-TRACTr) in December 2025. As of Oct. 15, 2025, 109 patients had been treated across cohorts.
The therapy showed durable clinical activity in both once-weekly and every-two-week dosing, with median radiographic progression-free survival of 7.9 to 8.9 months. The every-two-week regimen compared favorably to weekly dosing.
High PSA response rates, including deep declines, were observed, along with anti-tumor activity, with partial responses in 30% of evaluable patients.
Dose optimization is ongoing in taxane-naïve mCRPC, including combination studies with Nubeqa. Additional cohorts are assessing monotherapy in PARP inhibitor-refractory patients.
JANX008 continues to enroll in its phase I study in a defined group of solid tumors, with expansion cohorts underway to further characterize safety and clinical activity.
JANX011 is enrolling healthy volunteers in a phase I study.
Positive data from any of the ongoing studies will provide an impetus to the stock.
JANX’s Zacks Rank and Stocks to Consider
Janux currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks from the pharma/biotech sector are ADMA Biologics (ADMA - Free Report) and ANI Pharmaceuticals (ANIP - Free Report) . While ADMA sports a Zacks Rank #1 (Strong Buy), ANIP carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for ADMA’s 2026 EPS have increased from 85 cents to 96 cents. ADMA’s shares have lost 53.3% over the past year.
Estimates for ANI Pharmaceuticals’ EPS have increased from $8.28 to $8.99 for 2026 over the said period. Over the past year, shares of ANIP have surged 9.7%.
ANI Pharmaceuticals' earnings beat estimates in each of the trailing four quarters, with the average surprise being 22.21%.
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Janux Therapeutics Secures $35M Milestone Payment From BMY Deal
Key Takeaways
Janux Therapeutics (JANX - Free Report) announced the nomination of a development candidate under its global collaboration with biotech giant Bristol Myers Squibb BMY, triggering a $35 million milestone payment.
The candidate is a tumor-activated therapy developed using Janux’s TRACTr platform, targeting an undisclosed antigen found across multiple solid tumors. The milestone highlights progress in translating Janux’s platform technologies into potential cancer treatments.
The stock gained 4.4% on April 1. Shares of Janux have gained 5.2% year to date compared with the industry’s 4.2% growth.
Image Source: Zacks Investment Research
More on JANX’s Collaboration With BMY
In early 2026, JANX entered into a collaboration with BMY. Under the agreement, Janux will lead preclinical development through IND submission. BMY will hold the IND and take over subsequent clinical development and global commercialization of products arising from the collaboration. Janux will continue supporting the program through completion of the first phase I study.
Along with the $35 million milestone tied to the development candidate nomination, Janux is eligible for further development, regulatory, and commercial milestone payments, as well as tiered royalties on worldwide product sales.
The deal allows clinical-stage biotech company JANX to leverage its platform expertise while shifting the capital-intensive later-stage development risk to a large pharmaceutical partner like BMY.
By partnering with Bristol Myers — one with a strong and broad oncology portfolio — Janux has gained access to deep clinical, regulatory and commercial capabilities.
The influx of capital in the form of upfront payments and potential milestone payments provides funding for its pipeline programs.
Other Candidates in JANX’s Pipeline
Janux is developing immunotherapies using its TRACTr, TRACIr and ARM platforms. Its pipeline includes JANX007 for prostate cancer, JANX008 for solid tumors and JANX011 for autoimmune diseases.
The company reported updated interim phase I data for JANX007 (PSMA-TRACTr) in December 2025. As of Oct. 15, 2025, 109 patients had been treated across cohorts.
The therapy showed durable clinical activity in both once-weekly and every-two-week dosing, with median radiographic progression-free survival of 7.9 to 8.9 months. The every-two-week regimen compared favorably to weekly dosing.
High PSA response rates, including deep declines, were observed, along with anti-tumor activity, with partial responses in 30% of evaluable patients.
Dose optimization is ongoing in taxane-naïve mCRPC, including combination studies with Nubeqa. Additional cohorts are assessing monotherapy in PARP inhibitor-refractory patients.
JANX008 continues to enroll in its phase I study in a defined group of solid tumors, with expansion cohorts underway to further characterize safety and clinical activity.
JANX011 is enrolling healthy volunteers in a phase I study.
Positive data from any of the ongoing studies will provide an impetus to the stock.
JANX’s Zacks Rank and Stocks to Consider
Janux currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks from the pharma/biotech sector are ADMA Biologics (ADMA - Free Report) and ANI Pharmaceuticals (ANIP - Free Report) . While ADMA sports a Zacks Rank #1 (Strong Buy), ANIP carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for ADMA’s 2026 EPS have increased from 85 cents to 96 cents. ADMA’s shares have lost 53.3% over the past year.
Estimates for ANI Pharmaceuticals’ EPS have increased from $8.28 to $8.99 for 2026 over the said period. Over the past year, shares of ANIP have surged 9.7%.
ANI Pharmaceuticals' earnings beat estimates in each of the trailing four quarters, with the average surprise being 22.21%.