Is JANX or KALA more undervalued in 2026?

CirclFi compares Janux Therapeutics, Inc. (JANX) and KALA BIO, Inc. (KALA) using 13 institutional-grade valuation models. JANX has a Quality of Company score of 5.4/10 while KALA scores 3.4/10.

Which is a better buy — JANX or KALA?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do JANX and KALA valuations compare?

JANX at $14.74 and KALA at $2.29 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

JANX vs KALA Valuation Comparison 2026 — Intrinsic Value Analysis

JANX

Biotechnology

Janux Therapeutics, Inc.

Quality

5.4

out of 10

Value Trap

SAFE

Price

$14.74

Last close

Models

9/13

Active

KALA

Biotechnology

KALA BIO, Inc.

Quality

3.4

out of 10

Value Trap

SAFE

Price

$2.29

Last close

Models

7/13

Active

Model-by-Model Comparison

Model	Type	JANX Fair Value	JANX Upside	KALA Fair Value	KALA Upside
Bayesian DCF	Intrinsic	$4.28	-71.0%	$0.06	-97.5%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$6.71	-51.7%	$0.36	-84.1%
Dynamic NAV	Asset-Based	$9.03	-38.7%	$4.24	+85.0%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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JANX vs KALA — Which Stock Is More Undervalued?

JANX scores higher with a 5.4/10 quality rating vs KALA's 3.4/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Janux Therapeutics, Inc. (JANX) and KALA BIO, Inc. (KALA) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

JANX currently trades at $14.74 with a QOC of 5.4/10, while KALA trades at $2.29 with a QOC of 3.4/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).