Tango Therapeutics Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business Highlights

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]