Janux Therapeutics' (JANX) experimental cancer drug JANX008 is moving forward after the company reported new dosing and safety progress and began testing in specific tumor groups, Wedbush said Wednesday in a report.

The update suggests key dosing and safety questions have been resolved with a "more significant readout" expected in 2026, despite limited Phase 1a data disclosure, Wedbush said.

Upcoming pipeline catalysts include a 1H 2026 trial start for the CD19 ARM platform, ongoing preclinical work on the Trop2 TRACTr, and a 2H 2026 combination study of JANX007 with a PSMA x CD28 bispecific, the report said.

Wedbush cited encouraging previous JANX007 data and said CD28-mediated T-cell activation may further improve response durability.

Janux remains well positioned for continued development, supported by a cash balance of $989 million as of Q3 2025, the report said.

Wedbush maintained its outperform rating on Janux stock with a price target of $45.

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