10 Best Performing Small-Cap Stocks in 2024

2. Janux Therapeutics Inc. (NASDAQ:JANX)

Year-to-Date Performance as of September 23: 377.26%

Market Cap as of September 23: $2.67 billion

Number of Hedge Fund Holders: 31

Janux Therapeutics Inc. (NASDAQ:JANX) is a clinical-stage biopharmaceutical company that develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. It is working on a pipeline of drug candidates that target specific pathways involved in cancer cell growth and survival.

The company’s JANX007 drug, for pancreatic cancer, is currently in the Phase 1 human clinical trial and is currently enrolling patients. Another under-development drug is JANX008, which is a more diversified tumor drug that seeks to help patients with all cancers, except pancreatic cancers. Janux Therapeutics Inc. (NASDAQ:JANX) is also working with MERCK, and successful milestone payments from the pharma giant could inject tailwinds into the stock along with positive trial data.

It’s progressing several other programs within its TRACTr (Tumor Activated T Cell Engager) and TRACIr (Tumor Activated Immunomodulator) platforms, some of which are nearing development candidate status.

Revenue made in Q2 2024 was $8.90 million, up a major 741.72% year-over-year. But despite this massive growth, the company reported a net loss of $6.0 million compared to a net loss of $17.5 million for the comparable period in 2023. The earnings per share value was $0.16.

This was due to high Research and development expenses stable at $14.9 million. General and administrative expenses rose to $7.8 million, up from $6.9 million in the same quarter of 2023.

Janux Therapeutics Inc. (NASDAQ:JANX) strengthened its leadership by adding Eric Dobmeier and Natasha Hernday to its Board of Directors. They both bring valuable expertise to the company, positioning it for long-term success.