Tango Therapeutics(US:TNGX)2025-05-12 11:06Business Highlights and Pipeline Update 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 studies1211 - 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)79 TNG462 (MTA-cooperative PRMT5 inhibitor) 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 cancer123 - A combination trial of TNG462 with Revolution Medicines' RAS(ON) inhibitors (daraxonrasib and zoldonrasib) is on track to begin enrollment in Q2 2025124 - The company aims to initiate a TNG462 monotherapy registrational study in pancreatic cancer in 202623 Other Pipeline Programs 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 glioblastoma58 - 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 202558 - 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 regression68 Upcoming Milestones 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 update15 Financial Results 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) 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 TNG45613 Financial Position and Cash Runway 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, 202511 - The company's cash runway is now expected to be sufficient to fund operations into the first quarter of 2027111 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 |