Company Performance - Tango Therapeutics reported a quarterly loss of $0.36 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.34, and compared to a loss of $0.35 per share a year ago, indicating an earnings surprise of -5.88% [1] - The company posted revenues of $5.39 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 13.94%, and down from $6.47 million in the same quarter last year [2] - Over the last four quarters, Tango Therapeutics has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Tango Therapeutics shares have declined approximately 63.1% since the beginning of the year, contrasting with the S&P 500's decline of -3.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.34 on revenues of $5.72 million, and for the current fiscal year, it is -$1.37 on revenues of $28.53 million [7] Industry Outlook - The Medical - Biomedical and Genetics industry, to which Tango Therapeutics belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% of ranked industries [8] - The performance of Tango Therapeutics may be influenced by the overall industry outlook, as empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions [5][8]

Financial Overview - Tango Therapeutics has raised an aggregate of $166.9 million from preferred shares, $342.1 million from a Business Combination, $237.1 million from collaboration with Gilead, and $123.0 million from common shares and stock offerings [103][104]. - As of March 31, 2025, the company has $216.7 million in cash and equivalents, expected to fund operations into Q1 2027 [105]. - For the three months ended March 31, 2025, the net loss was $39.9 million, compared to $37.9 million for the same period in 2024, with an accumulated deficit of $541.4 million [105]. - The company has not generated any revenue from product sales and does not expect to do so in the next several years [106][109]. - Collaboration revenue recognized from Gilead agreements totaled $142.0 million as of March 31, 2025, with $5.4 million recognized in Q1 2025 [112]. - Collaboration revenue decreased to $5.4 million for the three months ended March 31, 2025, down from $6.5 million in the same period of 2024, a decline of approximately 17% [130]. - Interest income decreased to $1.6 million for the three months ended March 31, 2025, down from $2.2 million in 2024, a decline of about 27% attributed to a decrease in marketable securities [133]. - Net cash used in operating activities was $41.7 million for the three months ended March 31, 2025, compared to $37.9 million in 2024, an increase of $3.8 million [139]. - Net cash provided by investing activities was $30.6 million for the three months ended March 31, 2025, compared to net cash used of $11.2 million in 2024, a change of $41.8 million [140]. - As of March 31, 2025, the company had cash and cash equivalents and marketable securities totaling $216.7 million, expected to fund operations into the first quarter of 2027 [137]. - The company recorded a net loss of $39.9 million for the three months ended March 31, 2025, compared to a net loss of $37.9 million in 2024, an increase of $1.9 million [129]. - Total operating expenses were $47.9 million for the three months ended March 31, 2025, down from $48.7 million in 2024, a decrease of $0.8 million [129]. Research and Development - Research and development expenses for Q1 2025 totaled $36.4 million, a decrease from $38.1 million in Q1 2024 [118]. - The company plans to increase research and development expenses significantly as it advances its product candidates and clinical trials [120]. - Research and development expenses were $36.4 million for the three months ended March 31, 2025, compared to $38.1 million in 2024, reflecting a decrease of $1.6 million primarily due to the discontinuation of certain clinical programs [131]. - TNG462 is currently in a Phase 1/2 trial, with plans for a clinical data update in the second half of 2025 [98]. - TNG456 has received FDA clearance for IND and is set to begin a Phase 1/2 trial in Q2 2025 [100]. - TNG260 is in the dose expansion phase of its trial, with clinical data expected in the second half of 2025 [101]. General and Administrative Expenses - General and administrative expenses increased to $11.5 million for the three months ended March 31, 2025, up from $10.7 million in 2024, an increase of approximately 7.5% [132]. - The company anticipates an increase in general and administrative expenses in the future due to headcount growth and associated costs [124]. Revenue Recognition and Accounting - Revenue from license payments is recognized upon delivery and customer ability to use the license, with significant judgment involved in determining distinct performance obligations [150]. - Milestone payments are included in transaction price only if they are probable to not face significant reversal, with regulatory approval milestones considered constrained until approval is received [151]. - ASC 606 requires allocation of arrangement consideration based on relative standalone selling price for each performance obligation, with key assumptions including forecasted revenues and development timelines [152]. - Revenue is recognized over time for combined performance obligations that include services, using the cost-to-cost input method [153]. - Deferred revenue is recorded as a contract liability for amounts not meeting revenue recognition criteria, with short-term deferred revenue expected to be recognized within the next 12 months [154]. - Estimates of accrued research and development expenses are made based on service levels and costs incurred, with adjustments made as necessary [157]. - The company records expenses related to research and development based on estimates of services received, with potential for uneven payment flows [158]. - Recently adopted accounting pronouncements that may impact financial position are disclosed in the quarterly and annual reports [159]. - There were no material changes to market risks as described in the previous annual report [160].

[Business Highlights and Pipeline Update](index=1&type=section&id=Business%20Highlights%20and%20Pipeline%20Update) Tango Therapeutics advanced its clinical pipeline, notably TNG462, and extended its cash runway through strategic resource allocation - The company has extended its cash runway into the **first quarter of 2027** by reducing preclinical pipeline spending, target discovery efforts, and deferring certain clinical combination studies[1](index=1&type=chunk)[2](index=2&type=chunk)[11](index=11&type=chunk) - Presented five posters at the 2025 American Association for Cancer Research (AACR) Annual Meeting, highlighting preclinical data from PRMT5 programs (TNG462, TNG456) and the HBSL1 molecular glue degrader (TNG961)[7](index=7&type=chunk)[9](index=9&type=chunk) [TNG462 (MTA-cooperative PRMT5 inhibitor)](index=1&type=section&id=TNG462%20(MTA-cooperative%20PRMT5%20inhibitor)) TNG462, a PRMT5 inhibitor, is progressing with a data update expected in 2H 2025 and a combination trial starting in Q2 2025 - A clinical data update for the TNG462 Phase 1/2 monotherapy trial is expected in the **second half of 2025**, focusing on efficacy, safety, and tolerability in pancreatic and lung cancer[1](index=1&type=chunk)[2](index=2&type=chunk)[3](index=3&type=chunk) - A combination trial of TNG462 with Revolution Medicines' RAS(ON) inhibitors (daraxonrasib and zoldonrasib) is on track to begin enrollment in **Q2 2025**[1](index=1&type=chunk)[2](index=2&type=chunk)[4](index=4&type=chunk) - The company aims to initiate a TNG462 monotherapy registrational study in pancreatic cancer in **2026**[2](index=2&type=chunk)[3](index=3&type=chunk) [Other Pipeline Programs](index=2&type=section&id=Other%20Pipeline%20Programs) Tango Therapeutics is advancing TNG456, TNG260, and TNG961, with clinical updates and trial initiations expected for these programs - **TNG456 (Glioblastoma):** A Phase 1/2 clinical trial is planned to begin enrolling in **Q2 2025** for patients with MTAP-deleted solid tumors, with a focus on glioblastoma[5](index=5&type=chunk)[8](index=8&type=chunk) - **TNG260 (CoREST inhibitor):** Proof-of-mechanism has been established. A clinical update on the combination study with pembrolizumab in STK11-mutant NSCLC is expected in **2H 2025**[5](index=5&type=chunk)[8](index=8&type=chunk) - **TNG961 (HBS1L degrader):** Identified as a development candidate for FOCAD-deleted solid tumors, which occur in **20-40%** of MTAP-deleted cancers. Preclinical models show tumor regression[6](index=6&type=chunk)[8](index=8&type=chunk) [Upcoming Milestones](index=3&type=section&id=Upcoming%20Milestones) Key clinical milestones for 2025 include data updates for TNG462 and TNG260, and trial initiations for TNG456 and TNG462 combination - **2Q 2025:** Begin enrollment for TNG456 Phase 1/2 trial - **2Q 2025:** Begin enrollment for TNG462 + RAS(ON) inhibitors combination trial - **2H 2025:** Provide TNG462 Phase 1/2 clinical data update - **2H 2025:** Provide TNG260 clinical data update[15](index=15&type=chunk) [Financial Results](index=3&type=section&id=Financial%20Results) Tango Therapeutics reported Q1 2025 financial results, including collaboration revenue, net loss, and a strong cash position extending into Q1 2027 [Financial Performance (Q1 2025)](index=3&type=section&id=Financial%20Performance%20(Q1%202025)) Q1 2025 saw a decrease in collaboration revenue and R&D expenses, alongside an increase in G&A, leading to a net loss Consolidated Statements of Operations (in thousands, except per share data) | Metric | Q1 2025 (in thousands) | Q1 2024 (in thousands) | | :--- | :--- | :--- | | Collaboration Revenue | $5,392 | $6,471 | | Research and Development | $36,442 | $38,065 | | General and Administrative | $11,480 | $10,661 | | Loss from Operations | ($42,530) | ($42,255) | | **Net Loss** | **($39,876)** | **($37,914)** | | **Net Loss Per Share** | **($0.36/share)** | **($0.35/share)** | - The decrease in R&D expenses was driven by discontinued clinical programs (TNG908 and TNG348), partially offset by increased spending on TNG961 and TNG456[13](index=13&type=chunk) [Financial Position and Cash Runway](index=3&type=section&id=Financial%20Position%20and%20Cash%20Runway) Tango's cash, cash equivalents, and marketable securities totaled $216.7 million as of March 31, 2025, extending its cash runway into Q1 2027 - Cash, cash equivalents, and marketable securities totaled **$216.7 million** as of **March 31, 2025**[11](index=11&type=chunk) - The company's cash runway is now expected to be sufficient to fund operations into the **first quarter of 2027**[1](index=1&type=chunk)[11](index=11&type=chunk) Consolidated Balance Sheet Highlights (in thousands) | Metric | March 31, 2025 (in thousands) | December 31, 2024 (in thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $58,432 | $69,530 | | Marketable securities | $158,292 | $188,387 | | **Total Assets** | **$274,306** | **$316,492** | | Total Liabilities | $107,550 | $116,975 | | Total Stockholders' Equity | $166,756 | $199,517 |

Company Overview - Tango Therapeutics, Inc. (TNGX) is expected to report a quarterly loss of $0.34 per share, reflecting a year-over-year change of +2.9% [3] - Revenues are anticipated to be $6.27 million, which is a decrease of 3.1% from the same quarter last year [3] Earnings Expectations - Wall Street anticipates a year-over-year increase in earnings despite lower revenues, with the earnings report set to be released on May 12 [1][2] - The consensus EPS estimate has been revised 1.52% lower over the last 30 days, indicating a bearish sentiment among analysts [4][10] Earnings Surprise Prediction - The Most Accurate Estimate for Tango Therapeutics is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -2.19% [10][11] - The company currently holds a Zacks Rank of 4, which complicates the prediction of an earnings beat [11] Historical Performance - In the last reported quarter, Tango Therapeutics was expected to post a loss of $0.32 per share but actually reported a loss of $0.35, resulting in a surprise of -9.38% [12] - Over the past four quarters, the company has beaten consensus EPS estimates two times [13] Industry Comparison - Mirum Pharmaceuticals, Inc. (MIRM), another player in the Zacks Medical - Biomedical and Genetics industry, is expected to post a loss of $0.39 per share, indicating a year-over-year change of +27.8% [17] - Mirum's revenues are projected to be $98.47 million, up 42.3% from the previous year [17] - Despite a recent EPS estimate revision of 2.8% downwards, Mirum has a Zacks Rank of 2 (Buy) but an Earnings ESP of -4.27% [18]

Core Viewpoint - Tango Therapeutics, Inc. is set to report its first quarter 2025 financial results on May 12, 2025, before the U.S. financial markets open, and will not hold a conference call following the announcement [1]. Company Overview - Tango Therapeutics is a clinical-stage biotechnology company focused on discovering novel drug targets and advancing precision medicine for cancer treatment [2]. - The company employs the genetic principle of synthetic lethality to identify and develop therapies targeting critical cancer-related objectives [2].

Core Insights - Tango Therapeutics, Inc. announced that five abstracts have been accepted for poster presentations at the AACR Annual Meeting 2025, highlighting the company's commitment to advancing precision cancer medicines [1][2] Abstracts Accepted for Presentation - The first abstract focuses on the preclinical evaluation of CNS drug penetration of a novel series of MTAP-selective PRMT5 inhibitors, including TNG456, scheduled for presentation on April 27, 2025 [3] - The second abstract discusses TNG456 as a next-generation, brain-penetrant, MTA-cooperative PRMT5 inhibitor for treating solid tumors with MTAP loss, also set for April 27, 2025 [3] - The third abstract presents TNG462, an MTA-cooperative PRMT5 inhibitor, demonstrating strong efficacy in combination with targeted therapies in MTAP-null preclinical models, scheduled for April 28, 2025 [4] - The fourth abstract evaluates the impact of homozygous MTAP truncations on the clinical activity of MTA-cooperative PRMT5 inhibitors, to be presented on April 29, 2025 [4] - The fifth abstract covers the genetic and pharmacological disruption of the HBS1L/PELO complex, leading to tumor regressions in FOCAD-deleted cancers, also scheduled for April 29, 2025 [5] Company Overview - Tango Therapeutics is a clinical-stage biotechnology company focused on discovering novel drug targets and delivering precision medicine for cancer treatment, utilizing the genetic principle of synthetic lethality [5]

Company Performance - Tango Therapeutics reported a quarterly loss of $0.35 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.32, representing an earnings surprise of -9.38% [1] - The company posted revenues of $4.12 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 47.46%, compared to revenues of $5.43 million a year ago [2] - Over the last four quarters, Tango Therapeutics has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Movement and Outlook - Tango Therapeutics shares have declined approximately 24.6% since the beginning of the year, while the S&P 500 has gained 1.3% [3] - The company's earnings outlook, including current consensus earnings expectations for upcoming quarters, will be crucial for stock performance [4] - The current consensus EPS estimate for the coming quarter is -$0.32 on revenues of $7.24 million, and for the current fiscal year, it is -$1.38 on revenues of $29.51 million [7] Industry Context - The Medical - Biomedical and Genetics industry, to which Tango Therapeutics belongs, is currently in the top 28% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor decisions [5] - The Zacks Rank for Tango Therapeutics is currently 2 (Buy), suggesting that the shares are expected to outperform the market in the near future [6]

Financial Position and Funding - As of December 31, 2024, the company had an accumulated deficit of $501.6 million, primarily due to research and development costs and general administrative expenses [188]. - The company expects to incur significant operating losses for the foreseeable future, with research and development expenses anticipated to increase significantly [188]. - The company completed an $80 million private placement in August 2023 and received $41.7 million in net proceeds from an "at-the-market" stock offering program in January 2024 [194]. - The company will need to raise substantial additional funding to continue operations and advance clinical trial programs [195]. - Future capital requirements may increase significantly due to various factors, including the scope and progress of clinical trials and product development [196]. - The company has not generated any revenue from product sales and will continue to rely on additional financing and collaboration agreements to fund its business objectives [197]. - The company faces challenges in obtaining financing due to disruptions in financial markets and the biopharmaceutical sector [198]. - If the company is unable to obtain funding on acceptable terms, it may have to significantly curtail or discontinue research or development programs [199]. Clinical Development and Trials - The company is actively enrolling patients in two Phase 1/2 clinical trials and expects to begin enrollment in the TNG456 Phase 1/2 clinical trial in the first half of 2025 [194]. - The clinical development process is lengthy and expensive, with uncertain outcomes, and the company may face delays in obtaining regulatory approvals [205]. - Patient enrollment challenges in clinical trials may lead to delays in obtaining necessary regulatory approvals [223]. - The eligibility criteria for clinical trials may limit the pool of available study participants, potentially affecting enrollment rates [224]. - Competition from other companies conducting similar clinical trials may hinder patient enrollment for the company's product candidates [225]. - The company has entered into clinical collaboration agreements with RevMed and Lilly for combination clinical trials, which may impact development timelines [228]. - The complexity of developing combination therapies may lead to increased costs and regulatory challenges [230]. - Clinical trials may face delays due to suspensions or terminations by regulatory authorities, which could impact the approval of product candidates [220]. Regulatory Challenges and Approvals - The company has received FDA clearance for five IND applications but has discontinued development of TNG348 and TNG908 due to safety concerns [202]. - Regulatory agencies may not accept the company's assumptions or analyses, which could adversely affect the likelihood of obtaining regulatory approval [213]. - The company may incur additional costs or experience delays in clinical trials due to various unforeseen events [218]. - The company intends to provide a clinical update on the TNG462 clinical trial and clinical data on the TNG260 clinical trial in 2025 [214]. - The company may seek orphan drug designation for certain product candidates, which could provide financial incentives but does not guarantee market exclusivity [344]. - Breakthrough therapy and fast track designations by the FDA do not guarantee faster development or approval processes for product candidates [348]. - Delays in the regulatory approval process can be costly and negatively impact the timely completion of clinical trials and commercialization efforts [353]. - The company may pursue accelerated approval pathways, but this does not assure a faster regulatory review or increase the likelihood of approval [351]. Intellectual Property Risks - The company faces significant risks related to intellectual property rights, which may not guarantee competitive advantages or commercial success for current or future product candidates [335]. - Significant legal questions exist regarding the patent protection for biopharmaceutical products, with no certainty that patent applications will issue as patents or provide meaningful protection against competitors [301]. - The patent prosecution process is expensive and time-consuming, potentially impacting the ability to file and prosecute necessary patent applications in a timely manner [304]. - The company may face challenges from third parties claiming that its products infringe their patents, which could lead to costly litigation and potential damages [306]. - Market exclusivity for future products will largely depend on patent rights and regulatory protections, with risks of generic competition increasing as exclusivity periods expire [311]. - The company may initiate or become involved in lawsuits to protect its intellectual property rights, which could be expensive and time-consuming [313]. - The company may not be able to obtain adequate patent protection globally, which could impair its ability to prevent competitors from using its technologies [320]. Market and Competitive Landscape - The company faces substantial competition in the biopharmaceutical industry, particularly in the PRMT5 inhibitor space, with competitors like Bristol Myers Squibb, Amgen, and AstraZeneca [253]. - The incidence and prevalence of target patient populations for product candidates have not been precisely established, which could adversely affect revenue and profitability [260]. - The company has never commercialized a product candidate and may face challenges in achieving market acceptance for future products [262]. - Reliance on third parties for clinical trials may lead to delays or inability to obtain regulatory approval if these parties do not meet obligations [265]. Compliance and Regulatory Environment - Compliance with environmental, health, and safety regulations is essential, as violations could lead to fines or penalties that adversely affect business success [371]. - The company's operations may be impacted by potential liabilities associated with the use and disposal of hazardous materials, which could exceed available resources [372]. - Non-compliance with regulatory requirements may lead to penalties, product recalls, or withdrawal from the market [373]. - The company is subject to strict GDPR regulations regarding the processing of personal data, which may increase operational costs and complexity [375]. - Non-compliance with GDPR could result in fines up to €20 million or 4% of total worldwide annual turnover for serious offenses [377]. - Political and trade developments, such as tariffs, could adversely affect the company's financial condition and operations [383].

Clinical Trials and Development - The company is actively enrolling in a Phase 1/2 clinical trial for TNG462, focusing on a 250 mg QD dose expansion cohort with 59 patients across 13 histologies [27] - TNG456 is currently in enrollment for glioblastoma, with a key indication being MTAP-deleted cancers [20] - The company anticipates ongoing enrollment for TNG462 combinations with RAS inhibitors and multiple standard of care regimens throughout the year [29] - The first patient for TNG456 is planned to be dosed in the first half of 2025, targeting glioblastoma patients [11] - TNG456 is set to begin enrollment in a phase 1/2 clinical study in the first half of 2025, focusing on solid tumors with MTAP deletion [67] - TNG462 combination trials enrollment is set to begin in the first half of 2025 [93] - TNG456 Phase 1/2 trial enrollment is also expected to start in the first half of 2025 [93] - TNG260 is currently in a phase 1/2 study with FDA Fast Track designation, targeting STK11 mutations in various cancers [83] - TNG260 clinical data is anticipated to be available in 2025 [88] Efficacy and Safety - TNG462 demonstrates a 43% overall response rate (ORR) in cholangiocarcinoma patients, significantly outperforming competitors like AMG 193 (15% ORR) and BMS-504 (18% ORR) [33] - TNG462 has shown a median progression-free survival (mPFS) of 24 weeks in late-line, difficult-to-treat cancers, indicating durable clinical responses [25] - TNG462 has demonstrated an excellent safety and tolerability profile, with less fatigue and gastrointestinal toxicity compared to competitors [29] - TNG462 demonstrated a median time on treatment of 24 weeks, significantly longer than TNG908's 16 weeks [53] - TNG462 is expected to be more active in MTAP-deleted solid tumors compared to TNG908 and AMG193 [51] - TNG260 has shown complete tumor regression in 5 out of 8 mice in combination with α-PD1, indicating strong potential for immune response [81] - TNG260 is a novel, highly selective CoREST complex inhibitor, currently in Phase 1/2 clinical study evaluating efficacy in combination with pembrolizumab for STK11-mutant cancers [88] Market Potential and Strategic Focus - Approximately 50,000 total treatable MTAP-deleted patients are identified annually in the US, with significant unmet needs in lung and pancreatic cancers [12] - The company plans to initiate first monotherapy registration trials in second-line pancreatic cancer, targeting solid tumors with MTAP deletion [27] - The company plans to initiate registration trials for TNG462 in second-line lung and pancreatic cancer in 2026 [68] - The company is collaborating with Revolution Medicines to evaluate TNG462 in combination with RMC-9805 and RMC-6236 for RAS-mutant cancers [41] - The ongoing dose expansion for TNG260 in STK11-mutant cancers aims to reverse checkpoint inhibitor resistance [88] - STK11 mutations are linked to checkpoint inhibitor resistance in lung cancer patients, highlighting the significance of TNG260 [88] Financial Position - Cash balance stands at $258 million as of December 2024, providing a cash runway into Q3 2026 [93] - The company maintains a strong balance sheet, supporting ongoing clinical trials and future developments [91] - The cash equivalents and marketable securities position the company well for upcoming clinical milestones [93] - The company has multiple projected key milestones, indicating a strong pipeline and strategic focus [91] Comparisons with Competitors - TNG462 has a potency of 4 nM and an MTAP selectivity of 45X, compared to TNG908's 110 nM and 15X [45] - TNG908 showed a 36% overall response rate (ORR) in pancreatic cancer, with 4 out of 11 patients achieving partial responses [48] - TNG456 is predicted to have CNS exposure above the clinical efficacy threshold, targeting MTAP-deleted glioblastoma [60]

Core Insights - Tango Therapeutics has received Orphan Drug Designation for TNG462, aimed at treating pancreatic cancer, which provides marketing exclusivity and incentives upon regulatory approval [6] - The company is focused on advancing its lead PRMT5 program, TNG462, with significant clinical data expected in 2025, particularly for pancreatic and lung cancers [2][5] - TNG456, another PRMT5 inhibitor, has cleared FDA's Investigational New Drug application, with Phase 1/2 trials expected to start in the first half of 2025 [5][7] Pipeline Update - TNG462 is a PRMT5 inhibitor targeting MTAP-deleted cancers, with ongoing Phase 1/2 trials emphasizing pancreatic and lung cancers [3][6] - TNG456 is a next-generation brain-penetrant PRMT5 inhibitor, with preclinical studies indicating improved efficacy for glioblastoma treatment [4][5] - TNG260, a CoREST complex inhibitor, is in a Phase 1/2 trial for lung cancer, with updates expected in 2025 [8][15] Financial Results - As of December 31, 2024, the company reported cash and cash equivalents of $258 million, sufficient to fund operations into the third quarter of 2026 [5][9] - Collaboration revenue for Q4 2024 was $4.1 million, down from $5.4 million in Q4 2023, while total revenue for the year was $42.1 million, compared to $36.5 million in 2023 [10][11] - Research and development expenses increased to $33.9 million for Q4 2024, up from $31.3 million in Q4 2023, reflecting advancements in TNG462 and TNG456 [12] Clinical Collaborations - A clinical collaboration with Eli Lilly has been established to evaluate TNG456 in combination with the CDK4/6 inhibitor Verzenio® for MTAP-deleted solid tumors [5][7] - The FDA granted Fast Track Designation to TNG456 for treating solid tumors with MTAP deletion, facilitating expedited development and review [7] Upcoming Milestones - The company plans to disclose additional clinical data for TNG462 in 2025 and initiate combination studies with other targeted therapies [6][15] - Enrollment for multiple TNG462 combination trials is expected to begin in 2025, alongside the TNG456 Phase 1/2 trial [15]