Welcome to our dedicated page for Tango Therapeutics news (Ticker: TNGX), a resource for investors and traders seeking the latest updates and insights on Tango Therapeutics stock.
Tango Therapeutics, Inc. (NASDAQ: TNGX) is a clinical-stage biotechnology company focused on precision cancer medicines, and its news flow reflects ongoing progress in oncology research, clinical development, and corporate strategy. The company describes itself as dedicated to discovering novel drug targets and delivering the next generation of precision medicine for the treatment of cancer, using the genetic principle of synthetic lethality to identify and pursue critical targets in tumors.
News about Tango Therapeutics often highlights updates from its clinical pipeline, including vopimetostat (TNG462), an oral MTA-cooperative PRMT5 inhibitor for MTAP-deleted cancers, TNG456, a brain-penetrant PRMT5 inhibitor in development for glioblastoma and malignant glioma, and TNG260, a first-in-class CoREST complex inhibitor being evaluated with pembrolizumab in STK11-mutant solid tumors. Press releases have detailed Phase 1/2 clinical data, trial enrollment status, and regulatory designations such as Orphan Drug Designation for TNG456.
The company also issues news on corporate and financial developments, including leadership transitions, board appointments, equity financings, and at-the-market offering agreements documented in SEC filings. Announcements about participation in major healthcare investment conferences and scientific meetings, such as the J.P. Morgan Healthcare Conference and the Society for Immunotherapy of Cancer (SITC) Annual Meeting, provide additional context on how Tango Therapeutics communicates its strategy and data to investors and the scientific community.
Investors and followers of TNGX can use this news page to review company-issued press releases on clinical results, pipeline milestones, financing transactions, and governance changes, offering a consolidated view of how Tango Therapeutics is advancing its precision oncology programs based on synthetic lethality and targeted cancer biology.
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Tango Therapeutics (NASDAQ: TNGX) showcased key findings from its precision oncology portfolio at the AACR 2023 Annual Meeting in Orlando, Florida. Presentations included promising preclinical data for TNG908, a PRMT5 inhibitor targeting glioblastoma, which is currently in a phase 1/2 clinical trial. Additionally, TNG260 showed potential in reversing immune evasion in STK11-mutant cancers and will enter clinical trials later in 2023. The company also highlighted TNG462, another promising PRMT5 inhibitor, and TNG348, a selective USP1 inhibitor for BRCA1/2 mutant cancers, with IND submissions planned. These developments underscore Tango's commitment to targeting critical cancer pathways.
Tango Therapeutics (NASDAQ: TNGX) has received FDA clearance for its IND application for TNG260, a first-in-class inhibitor targeting the CoREST complex, aimed at treating STK11-mutant cancers. This milestone enables the initiation of a Phase 1/2 clinical trial expected in the second half of 2023. STK11 mutations contribute to resistance against standard immunotherapies in cancers such as non-small cell lung cancer. The trial will assess the safety and efficacy of TNG260 in combination with pembrolizumab in patients with various solid tumors having STK11 mutations. This breakthrough underscores Tango's commitment to advancing precision cancer therapies.
Tango Therapeutics (NASDAQ: TNGX) announced key developments in its clinical pipeline and financial results for 2022. The FDA granted Fast Track Designation to TNG462, a next-generation PRMT5 inhibitor, following IND clearance in January 2023. The company initiated a clinical trial for TNG908 and expects updates on its progress in Q2 2023. Financially, Tango reported a net loss of $108.2 million for 2022, compared to $58.2 million in 2021. Collaboration revenue decreased to $24.9 million, down from $26.0 million. Research and development expenses rose to $105.9 million, reflecting increased program advancement costs. Tango ended 2022 with $366.1 million in cash, sufficient to fund operations until 2025.
Tango Therapeutics (NASDAQ: TNGX) announced the acceptance of two oral and two poster presentations at the AACR 2023 Annual Meeting from April 14-19 in Orlando, Florida. The oral presentations include TNG908, a promising PRMT5 inhibitor showing three-fold increased median survival in glioblastoma models, and TNG260, aimed at STK11-mutant cancers. The poster presentations feature TNG348, targeting BRCA1/2 mutations, and TNG462, another PRMT5 inhibitor for MTAP-deleted tumors. These findings highlight Tango's innovative approach in precision oncology and the potential for advancements in cancer treatment.
Tango Therapeutics (NASDAQ: TNGX) announced on March 10, 2023, that it is monitoring the situation involving Silicon Valley Bank (SVB) and expects no impact on its financial guidance. The company has sufficient cash, equivalents, and marketable securities to support operations through 2025.
Tango Therapeutics focuses on developing precision cancer medicines based on synthetic lethality. The company is dedicated to identifying new drug targets and advancing therapies that effectively address critical cancer mechanisms.
Tango Therapeutics (NASDAQ: TNGX) announced the grant of non-qualified stock options and restricted stock units (RSUs) totaling 637,000 shares and 106,250 RSUs, respectively, to two new employees as part of its 2023 Inducement Plan. This includes 487,500 stock options and 81,250 RSUs awarded to Adam Crystal, M.D., Ph.D., following his appointment as President of Research and Development. The options have an exercise price of $5.20 per share, aligning with the stock's closing price on the grant date, March 1, 2023. The vesting schedules for both options and RSUs are contingent upon continued employment.
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