Company to present three posters at SITC Annual Meeting 2025BOSTON, Oct. 06, 2025 (GLOBE NEWSWIRE) -- Tango Therapeutics, Inc. (NASDAQ: TNGX), a clinical-stage biotechnology company committed to discovering and delivering the next generation of precision cancer medicines, today announced that the company will have three poster presentations at the Society for Immunotherapy of Cancer (SITC) Annual Meeting 2025, including the first clinical data on the novel CoREST inhibitor TNG260 in non-small cell lung canc ...

Core Insights - Tango Therapeutics reported a significant decline in GAAP revenue for Q2 2025, with revenue at $3.2 million, which is less than half of the $6.7 million estimate and a 59% decrease from Q2 2024 [1][2] - The company experienced a wider GAAP loss per share of ($0.35), compared to the expected ($0.34) [1][2] - The termination of the Gilead partnership research term a year early has heightened financial risks due to falling collaborative income and increasing net losses [1][6] Company Overview and Focus - Tango Therapeutics specializes in targeted cancer therapies through synthetic lethality, aiming to selectively eliminate cancer cells based on genetic profiles [3] - The company is focused on advancing a clinical-stage pipeline that includes PRMT5 inhibitors (TNG462 and TNG456) and a CoREST inhibitor (TNG260) [4] Quarterly Performance and Developments - Revenue dropped sharply due to the evaporation of license revenue from the prior year, with collaboration revenue approximately 59% lower year-over-year [5] - The Gilead partnership, a key revenue driver, will see its research portion terminate in August 2025, impacting future revenue streams [6] - Operating expenses decreased to $32.8 million, reflecting a shift in R&D focus and a reduction in spending on less promising programs [7] Pipeline Activity - Significant pipeline activity includes TNG462 entering a new combination study and TNG456 beginning a Phase 1/2 trial for glioblastoma [8][10] - TNG260 is progressing in combination with pembrolizumab for lung cancer, with clinical updates expected later this year [9][11] Financial Outlook - The current cash balance of $180.8 million is projected to fund operations into Q1 2027, supported by the recognition of deferred Gilead revenue [12] - Upcoming clinical milestones include Phase 1/2 data readouts for TNG462 and TNG260, which are critical for future funding [13]

Core 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]

Summary of Tango Therapeutics Conference Call Company Overview - **Company**: Tango Therapeutics - **Industry**: Biotechnology, specifically focused on oncology and synthetic lethality Core Insights and Arguments - **Synthetic Lethality Platform**: Tango's discovery platform is based on synthetic lethality, which targets tumor suppressor gene loss that cannot be directly targeted due to their inactivation. This approach supplements existing therapies that focus on activated oncogenes [2][3] - **Pipeline Development**: Tango is advancing its lead asset, TNG-462, a PRMT5 inhibitor, which is synthetic lethal with MTAP deletions, common in lung and pancreatic cancers. The company is nearing the end of a Phase III study for this asset [8][9] - **Durability of Treatment**: The efficacy of TNG-462 is highlighted by its durability in patients, with some remaining on treatment for over a year, which is notable compared to standard chemotherapy options [10][11] - **Tolerability Profile**: TNG-462 is reported to have a best-in-class tolerability profile, making it suitable for patients with difficult-to-treat cancers [12] Pipeline Details - **TNG-462**: Focused on pancreatic and lung cancers, with plans to present data from over 20 patients in each category later this year [10] - **TNG-456**: A next-generation brain-penetrant asset aimed at glioblastoma, which has a high prevalence of MTAP deletions. This asset is expected to deliver more drug into the brain due to increased selectivity [13][15] - **TNG-260**: A coREST inhibitor targeting STK11 mutation patients, which represents a significant opportunity in non-small cell lung cancer. The program is currently in dose expansion [30][31] Competitive Landscape - **Key Competitors**: The primary competitors identified are Bristol Myers Squibb (BMS) and Amgen, with Tango believing it has a competitive edge in terms of pharmacokinetics (PK) and tolerability [21][22] - **Market Positioning**: Tango positions itself as a leader in the PRMT5 space, with a significant lead over other companies like AstraZeneca and BeiGene [22] Combination Strategies - **Combination with RAS Mutations**: Tango is initiating a study combining TNG-462 with RAS mutation-targeted therapies, which is expected to be transformative for pancreatic and lung cancer patients [27] - **Focus on Tolerability**: The company is monitoring overlapping toxicities in combination therapies but expects good tolerability based on existing safety profiles [29] Financial and Strategic Focus - **Capital Allocation**: Tango's capital allocation strategy is heavily focused on advancing the development of TNG-462 for pancreatic cancer, with plans to start a pivotal study next year [38] - **Investor Perception**: There is a belief that investors have underestimated the importance of PRMT5 as a target and Tango's position in the market. The company asserts it is well-resourced to compete effectively [36][37] Additional Insights - **Innovative Approach**: Tango's approach to synthetic lethality and its focus on specific genetic mutations (like STK11 and MTAP) are seen as innovative and potentially game-changing in oncology [30][31] - **Clinical Proof of Concept**: The company has demonstrated that its findings in animal models translate to human patients, reinforcing the validity of its therapeutic strategies [32][34]

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]