Tango Therapeutics(US:TNGX) Globenewswire·2025-08-05 11:00Core Insights - Tango Therapeutics has initiated clinical trials for TNG462 and TNG456, focusing on precision cancer therapies for pancreatic and lung cancers, as well as glioblastoma [1][2][4] Pipeline Update - TNG462 is positioned as a best-in-class PRMT5 inhibitor targeting MTAP-deleted pancreatic and lung cancers, with data expected to support its efficacy later this year [2][3] - TNG456 is currently in a Phase 1/2 trial for glioblastoma, with the first patient treated in May 2025 [4] - TNG260, a CoREST complex inhibitor, is also in development, with clinical data expected in the second half of 2025 [8] Corporate Development Update - The collaboration with Gilead has been shortened from seven to five years, with no financial penalties for Tango, and a deferred revenue balance of $53.8 million will be recognized in Q3 2025 [9] - Tango Therapeutics held $180.8 million in cash and equivalents as of June 30, 2025, expected to fund operations into Q1 2027 [10] Financial Results - Collaboration revenue decreased to $3.2 million for Q2 2025 from $7.8 million in Q2 2024, and for the six months ended June 30, 2025, it was $8.6 million compared to $14.2 million in the same period in 2024 [11] - License revenue was absent in Q2 2025, down from $12.1 million in Q2 2024, primarily due to a prior licensing agreement with Gilead [12] - Research and development expenses were $32.8 million for Q2 2025, down from $38.7 million in Q2 2024, attributed to reduced spending on discontinued programs [13] - General and administrative expenses increased to $11.3 million for Q2 2025 from $10.8 million in Q2 2024, mainly due to higher personnel and IT costs [14] - The net loss for Q2 2025 was $38.9 million, or $0.35 per share, compared to a net loss of $25.6 million, or $0.24 per share, in Q2 2024 [15] Upcoming Milestones - Clinical data updates for TNG462 and TNG260 are anticipated in the second half of 2025 [18]