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We compare these measurements with the noise power emitted by the junction and show that, for low Josephson energy, transmission and noise emission can be explained within the framework of P(E) theory of inelastic Cooper pair tunneling. Combined with a theoretical model, our results indicate that voltage-biased Josephson junctions might be useful for amplification near the quantum limit, offering simpler design and a different trade-off between gain, bandwidth and dynamic range, which could be advantageous in some situations.