Tango Therapeutics, Inc. (TNGX)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$53.8M

Revenue growth

121.5%

Net income, last twelve months

-$123.7M

Earnings per share

-$0.85

Operating margin

-253.4%

Net margin

-229.9%

Return on equity

-12.1%

Market value

$3.7B

Cash

$345.6M

Debt

$0

Debt to equity

0.00

Shares outstanding

168.4M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of fiscal 2026 results, filed 11 August 2026.

• No collaboration revenue this quarter. Collaboration revenue was zero for the quarter, against $3.2 million a year earlier. Six-month collaboration revenue was also zero, against $8.6 million a year earlier.
• Quarterly net loss widened. Net loss was $55.3 million, or $0.37 per share, against $38.9 million, or $0.35 per share, a year earlier.
• Six-month loss per share lower. Six-month net loss was $100.9 million, or $0.68 per share, against $78.7 million, or $0.71 per share, a year earlier.
• 92% response rate in combination. Initial Phase 1/2 data reported in June showed a 92% objective response rate for vopimetostat plus daraxonrasib in MTAP-deleted, RAS-mutant pancreatic cancer.
• Six-month PFS and safety reported. The six-month progression-free survival rate was 90% in the same patient population. The company described the safety profile as generally well-tolerated.
• Regulatory dialogue on registrational path. Management is working internally and has started dialogue with regulators and Revolution Medicines toward a registrational plan for the combination in MTAP-deleted pancreatic cancer.
• R&D rose on clinical programs. Research and development expenses were $37.2 million, against $32.8 million a year earlier. The rise was partly offset by portfolio prioritization.
• G&A rose on personnel costs. General and administrative expenses were $22.6 million, against $11.3 million a year earlier. Management attributed the increase to personnel costs, including share-based compensation.
• Other income rose year on year. Other income, net was $4.4 million for the quarter, against $2.1 million a year earlier. Six-month other income was $7.7 million, against $4.8 million.
• Cash reached $1.0 billion. Cash, cash equivalents and marketable securities were $1.0 billion at June 30, 2026, against $379.8 million at March 31, 2026. Management expects this to fund the current operating plan.
• Cash and securities split. Cash and cash equivalents were $345.6 million and marketable securities were $668.4 million, against $112.3 million and $230.9 million at December 31, 2025.
• Stockholders' equity rose. Total stockholders' equity was $1,024.5 million at June 30, 2026, against $346.2 million at December 31, 2025. Total liabilities were $49.3 million.
• More weighted shares outstanding. Weighted average shares outstanding were 149.9 million for the quarter, against 110.5 million a year earlier.
• Ocak named Chief Commercialization Officer. Fatma Ocak becomes Chief Commercialization Officer on August 17, 2026, overseeing launch readiness, medical affairs, commercial strategy and clinical and commercial integration.

Revenue by segment

As the company reports it in the segment note of its annual report.

By product, FY2024

Company events

The newest 8-K filings of 51 held.

Every filing

The newest filings with the SEC of 142 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

270 funds held it at 30 Jun 2026: 174 added and 53 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Eli Lilly & Co. (LLY): revenue $79.7B, market value $1.21T
• Johnson & Johnson (JNJ): revenue $99.3B, market value $652.9B
• AbbVie Inc. (ABBV): revenue $64.4B, market value $506.1B
• Merck & Co., Inc. (MRK): revenue $66.6B, market value $348.1B
• Novartis AG (NVS): revenue $54.5B, market value $297.8B
• AstraZeneca PLC (AZN): revenue $58.7B, market value $263.1B
• Abbott Laboratories (ABT): revenue $46.6B, market value $177.7B
• Novo Nordisk A/S (NVO): revenue $46.8B, market value $171.0B
• Pfizer Inc. (PFE): revenue $63.7B, market value $168.0B
• Vertex Pharmaceuticals Inc. (VRTX): revenue $12.6B, market value $134.2B

What the company does

Tango Therapeutics is a clinical-stage oncology company that develops small-molecule medicines aimed at cancers with specific genetic alterations. It has no product approved for sale and has not generated revenue from product sales. Its work centres on two PRMT5 inhibitors, vopimetostat (TNG462) and TNG456, both designed for cancers that have lost a gene called MTAP.

What it develops

The company says its mission is to discover targeted cancer therapies by addressing the genetic alterations that drive tumours. Vopimetostat is aimed at cancers outside the central nervous system, as a single agent and combined with RAS inhibitors. TNG456 is a brain-penetrant PRMT5 inhibitor aimed at central nervous system cancers, including glioblastoma (GBM).

TNG260 is a CoREST inhibitor, which the company calls first-in-class, studied with pembrolizumab in lung cancer with STK11 mutations and wild-type KRAS. TNG961 is a molecular glue that degrades HBS1L, targeting cancers that have lost both FOCAD and MTAP, and it is in the IND-enabling phase.

How the science works

The approach rests on synthetic lethality. A tumour-specific genetic alteration makes cancer cells depend on a partner gene, and a drug that blocks that partner kills the cancer cells while leaving normal cells largely unaffected. MTAP sits next to the tumour suppressor gene CDKN2A and is lost along with it in 80-90% of CDKN2A-deleted tumours. The filing cites at least 15 cancer types where MTAP loss occurs in more than 10% of patients, including approximately 40% of pancreatic cancers and 45% of GBM.

Earlier PRMT5 inhibitors damaged fast-growing normal cells such as bone marrow. The company designed vopimetostat and TNG456 to bind together with a molecule called MTA, which builds up only in MTAP-deleted cells. It uses molecular biomarkers to choose which patients enter its trials.

Where the programs stand

Vopimetostat is in a Phase 1/2 monotherapy trial, with the first patient dosed in July 2023. The analysis cut-off was 1 September 2025 and covered 94 tumour-evaluable patients across MTAP-deleted tumour types. Cohorts are organised by tumour type: second-line pancreatic cancer, lung cancer, and a histology selective cohort that excludes pancreatic, lung and sarcoma patients. The company says it plans to start a pivotal trial in second-line pancreatic cancer in 2026.

A combination trial of vopimetostat with Revolution Medicines' daraxonrasib and zoldonrasib had enrolled 30 patients as of 24 December 2025. In March 2026 the company signed a clinical trial collaboration and supply agreement with Erasca, Inc., under which Tango sponsors the trial and Erasca supplies ERAS-0015 at no cost. The company estimates the annual addressable US population at approximately 60,000 patients for vopimetostat and approximately 7,000 for TNG456.

The FDA has granted vopimetostat orphan drug designation for soft tissue sarcoma and pancreatic cancer, and TNG456 orphan drug designation for malignant glioma. Fast Track designation applies to vopimetostat, TNG456 and TNG260 for stated uses.

How it is funded and who it works with

Without product sales, the company has funded operations mainly through equity financings and a collaboration with Gilead Sciences, Inc. In August 2025 the two agreed to shorten the research term of that collaboration from seven to five years. The company has no remaining research obligations, and agreements for future milestones and royalties remain in effect.

Manufacturing and intellectual property

The company owns no manufacturing facilities and says it has no plans to build any. It relies on contract development and manufacturing organizations. One manufacturer makes the drug substance and two make the drug product for its trials. One of these organizations operates outside the US, and the other works for Tango from a single US location.

For intellectual property, it exclusively owns eleven patent families covering PRMT5 inhibitors, plus five more families covering other PRMT5 inhibitors. It also owns four families for CoREST inhibitors and six for HBS1L degraders.

Competition and people

The filing names several other companies with MTA-cooperative PRMT5 inhibitors in Phase 1/2 trials: Bristol Myers Squibb, Amgen, AstraZeneca, BeOne and Abbisko. No MTA-cooperative PRMT5 inhibitor is authorized for marketing by any regulator. MAT2A inhibitor programs at IDEAYA Biosciences, BeOne, Insilico Medicine and Servier Pharmaceuticals are described as indirect competition. The company says many competitors have greater resources.

Of the 137 employees, 97 work in research and development and 40 in business development, finance, legal and general administration. None are represented by labour unions.

*From Tango Therapeutics's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1819133/000119312526092518/tngx-20251231.htm)*

From the company's 10-K.