Tango Therapeutics Inc Stock Price, News & Analysis

Tango Therapeutics (NASDAQ: TNGX) reported Q3 2024 financial results and business updates. The company highlighted positive clinical activity for TNG462 across multiple tumor types, including a 43% ORR in cholangiocarcinoma. A new clinical collaboration with Revolution Medicines was established to evaluate TNG462 combinations. The company reported $293.3 million in cash, with runway into Q3 2026. Q3 2024 financial results showed collaboration revenue of $11.6 million and a net loss of $29.2 million ($0.27 per share). R&D expenses increased to $33.3 million, up from $27.1 million in Q3 2023.

Tango Therapeutics announced positive updates on its PRMT5 program. TNG462 showed promising clinical activity in multiple tumor types, including NSCLC and pancreatic cancer, with patients maintaining treatment for a median of 24 weeks. The company will advance TNG462 into full development and plans multiple combination studies in 1H 2025. While discontinuing TNG908 enrollment due to insufficient CNS exposure in glioblastoma, Tango is introducing TNG456, a next-generation brain-penetrant PRMT5 inhibitor with enhanced potency, set to enter clinical trials in 1H 2025. A clinical collaboration with Revolution Medicines was established to evaluate TNG462 in combination with RAS(ON) inhibitors.

Tango Therapeutics (NASDAQ: TNGX), a clinical-stage biotechnology company focused on precision cancer medicines, has announced its participation in two upcoming investor conferences. Barbara Weber, M.D., President and CEO of Tango Therapeutics, will represent the company at these events:

1. 2024 Wells Fargo Healthcare Conference on September 4, 2024, at 12:45 PM ET in Boston, MA.

2. 2024 Cantor Global Healthcare Conference on September 17, 2024, at 9:10 AM ET in New York, NY.

Live webcasts of the presentations will be available on the company's website under the 'Events & Presentations' tab on the 'Investors' page. Replays will be archived for 90 days following each presentation.

Tango Therapeutics (NASDAQ: TNGX) reported Q2 2024 financial results and business highlights. Key points include:

1. Ongoing dose expansion in TNG908 and TNG462 phase 1/2 clinical trials, with a comprehensive PRMT5 program update expected in 2H 2024.

2. TNG260 phase 1/2 clinical trial patient enrollment continues.

3. Strong cash position of $322.1 million as of June 30, 2024, with runway into 2027.

4. Q2 2024 financial results: Collaboration revenue $7.8 million, license revenue $12.1 million, R&D expenses $38.7 million, G&A expenses $10.8 million, net loss $25.6 million ($0.24 per share).

5. Gilead licensed a drug discovery program for a $12.0 million fee in June.

Tango Therapeutics (NASDAQ: TNGX), a clinical-stage biotech company specializing in precision cancer medicines, announced that CEO Barbara Weber, M.D., will present at the Goldman Sachs 45th Annual Global Healthcare Conference on June 11, 2024, at 2:40 PM ET. The presentation will be webcast live on the company's website under the 'Events & Presentations' tab on the 'Investors' page, and a replay will be available for 90 days post-event.

Medivir announced that its licensee, Tango Therapeutics, has discontinued the clinical development of TNG348, a USP1 inhibitor aimed at treating BRCA1/2-mutant and HRD+ cancers, due to toxicity observed in phase 1/2 trials. The program was initially licensed from Medivir in 2020. Despite this setback, Medivir emphasized it remains focused on its lead program, fostroxacitabine bralpamide (fostrox), targeting primary liver cancer. The company is accelerating activities to initiate a pivotal phase 2b study for fostrox, which has the potential to secure market approval for treating HCC patients who fail current first-line treatments, a market projected to be worth $2.5 billion annually by 2028.

Tango Therapeutics (NASDAQ: TNGX) has discontinued its TNG348 program following Phase 1/2 trial results indicating liver toxicity in patients. The company emphasizes patient safety as the primary reason for halting the development of TNG348, a USP1 inhibitor. This decision will allow Tango Therapeutics to redirect resources toward its PRMT5 and CoREST clinical programs, which remain on track. The company has extended its cash runway into 2027 and plans to provide a comprehensive clinical update on TNG908 and TNG462 in the latter half of the year.

Tango Therapeutics, Inc. (NASDAQ: TNGX) reported strong financial results for Q1 2024 with a cash position of $344 million. The company is progressing its clinical programs, including dose expansion in TNG908 and TNG462 trials, with clinical data expected in 2H 2024. Tango is well-funded through late 2026. The company welcomed Julie Carretero as Chief Human Resources Officer to support growth.