Company Overview - Tango Therapeutics, Inc. is a clinical-stage biotechnology company focused on discovering novel drug targets and advancing precision medicine for cancer treatment [3] - The company employs the genetic principle of synthetic lethality to develop therapies targeting critical cancer-related pathways [3] Upcoming Event - Barbara Weber, M.D., President and CEO of Tango Therapeutics, will participate in a fireside chat at the 46th Annual Goldman Sachs Global Healthcare Conference on June 10, 2025, from 3:20 to 3:55 PM ET [1] - The event will be available via live webcast on the company's website, with a replay accessible for 90 days post-presentation [2]

Core Insights - Tango Therapeutics has initiated the dosing of the first patient in the TNG456 Phase 1/2 trial targeting MTAP-deleted solid tumors, particularly glioblastoma (GBM) [1][2] - TNG456 is a next-generation PRMT5 inhibitor designed to penetrate the brain and is expected to offer a new treatment option for patients with GBM, where current survival rates are below 10% [2] - The trial aims to evaluate the safety, pharmacokinetics, pharmacodynamics, and antitumor activity of TNG456 both as a monotherapy and in combination with abemaciclib [2] Company Overview - Tango Therapeutics is a clinical-stage biotechnology company focused on discovering novel drug targets and developing precision cancer medicines [3] - The company employs the genetic principle of synthetic lethality to create therapies aimed at critical cancer targets [3]

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 |

Core Insights - Tango Therapeutics is advancing its clinical-stage pipeline, particularly focusing on TNG462, a PRMT5 inhibitor, with data updates expected in the second half of 2025 [1][6][16] - The company has a strong cash position of $217 million as of March 31, 2025, which is projected to fund operations into the first quarter of 2027 [1][9] - The company is strategically reducing preclinical spending to extend its cash runway while prioritizing its PRMT5 programs [2][9] Pipeline Update - TNG462 is anticipated to show promising efficacy, safety, and tolerability data, particularly in pancreatic and lung cancer, with a registrational study planned for next year [2][6] - TNG456, a next-generation PRMT5 inhibitor, is set to begin a Phase 1/2 trial for glioblastoma in the second quarter of 2025 [4][6] - TNG260 is undergoing a Phase 1/2 trial in combination with pembrolizumab for NSCLC, with updates expected in the second half of 2025 [5][6] Financial Results - Collaboration revenue for the first quarter of 2025 was $5.4 million, down from $6.5 million in the same period of 2024 [10] - Research and development expenses decreased to $36.4 million in Q1 2025 from $38.1 million in Q1 2024, attributed to reduced spending on discontinued programs [11] - The net loss for the first quarter of 2025 was $39.9 million, or $0.36 per share, compared to a net loss of $37.9 million, or $0.35 per share, in Q1 2024 [12][20] Upcoming Milestones - Clinical data updates for TNG462 and TNG260 are expected in the second half of 2025 [16] - Enrollment for the combination trial of TNG462 with RAS(ON) inhibitors is projected to begin in the second quarter of 2025 [1][16]

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]