Welcome to our dedicated page for Tango Therapeutics news (Ticker: TNGX), a resource for investors and traders seeking the latest updates and insights on Tango Therapeutics stock.
Tango Therapeutics, Inc. (NASDAQ: TNGX) is a pioneering biotechnology company focused on discovering and developing novel medicines aimed at targeting cancer vulnerabilities. Founded in 2017 with an initial $55 million Series A investment from Third Rock Ventures, Tango leverages the latest advancements in DNA sequencing and CRISPR-based target discovery. Their goal is to create breakthrough medicines that offer deeper and more sustained benefits than current targeted therapies and to extend the effectiveness of available immuno-oncology agents.
Tango Therapeutics concentrates on three core areas of drug development, each addressing well-defined patient populations with limited treatment options. These areas include:
- Loss of tumor suppressor gene function
- Multiple oncogenic drivers
- Immune evasion
The company’s robust product pipeline includes several promising candidates:
- TNG908 - An MTA-cooperative inhibitor of PRMT5 designed to selectively target cancer cells with MTAP deletions.
- TNG462 - Another advanced preclinical candidate aimed at targeting different cancer types.
- TNG348 - Recently entered Phase 1/2 clinical trials for advanced ovarian, breast, and other cancers with DNA damage repair pathway defects.
- Other discovery programs such as TNG260 and TNG348, focusing on different cancer types with limited current treatment options.
In recent developments, Tango announced dosing the first patient in the TNG348 Phase 1/2 trial, a significant milestone for the company. The trial will assess the safety, pharmacokinetics, pharmacodynamics, and efficacy of TNG348 both as a single agent and in combination with olaparib, a PARP inhibitor.
Tango has established partnerships with several key players in the pharmaceutical industry. These collaborations have significantly bolstered their drug development pipeline. However, recent news highlights the termination of the TNG348 Phase 1/2 clinical trial due to observed toxicity, underscoring the inherent risks in drug development.
For more information, visit www.tangotx.com.
Tango Therapeutics (NASDAQ: TNGX) showcased key findings from its precision oncology portfolio at the AACR 2023 Annual Meeting in Orlando, Florida. Presentations included promising preclinical data for TNG908, a PRMT5 inhibitor targeting glioblastoma, which is currently in a phase 1/2 clinical trial. Additionally, TNG260 showed potential in reversing immune evasion in STK11-mutant cancers and will enter clinical trials later in 2023. The company also highlighted TNG462, another promising PRMT5 inhibitor, and TNG348, a selective USP1 inhibitor for BRCA1/2 mutant cancers, with IND submissions planned. These developments underscore Tango's commitment to targeting critical cancer pathways.
Tango Therapeutics (NASDAQ: TNGX) has received FDA clearance for its IND application for TNG260, a first-in-class inhibitor targeting the CoREST complex, aimed at treating STK11-mutant cancers. This milestone enables the initiation of a Phase 1/2 clinical trial expected in the second half of 2023. STK11 mutations contribute to resistance against standard immunotherapies in cancers such as non-small cell lung cancer. The trial will assess the safety and efficacy of TNG260 in combination with pembrolizumab in patients with various solid tumors having STK11 mutations. This breakthrough underscores Tango's commitment to advancing precision cancer therapies.
Tango Therapeutics (NASDAQ: TNGX) announced key developments in its clinical pipeline and financial results for 2022. The FDA granted Fast Track Designation to TNG462, a next-generation PRMT5 inhibitor, following IND clearance in January 2023. The company initiated a clinical trial for TNG908 and expects updates on its progress in Q2 2023. Financially, Tango reported a net loss of $108.2 million for 2022, compared to $58.2 million in 2021. Collaboration revenue decreased to $24.9 million, down from $26.0 million. Research and development expenses rose to $105.9 million, reflecting increased program advancement costs. Tango ended 2022 with $366.1 million in cash, sufficient to fund operations until 2025.
Tango Therapeutics (NASDAQ: TNGX) announced the acceptance of two oral and two poster presentations at the AACR 2023 Annual Meeting from April 14-19 in Orlando, Florida. The oral presentations include TNG908, a promising PRMT5 inhibitor showing three-fold increased median survival in glioblastoma models, and TNG260, aimed at STK11-mutant cancers. The poster presentations feature TNG348, targeting BRCA1/2 mutations, and TNG462, another PRMT5 inhibitor for MTAP-deleted tumors. These findings highlight Tango's innovative approach in precision oncology and the potential for advancements in cancer treatment.
Tango Therapeutics (NASDAQ: TNGX) announced on March 10, 2023, that it is monitoring the situation involving Silicon Valley Bank (SVB) and expects no impact on its financial guidance. The company has sufficient cash, equivalents, and marketable securities to support operations through 2025.
Tango Therapeutics focuses on developing precision cancer medicines based on synthetic lethality. The company is dedicated to identifying new drug targets and advancing therapies that effectively address critical cancer mechanisms.
Tango Therapeutics (NASDAQ: TNGX) announced the grant of non-qualified stock options and restricted stock units (RSUs) totaling 637,000 shares and 106,250 RSUs, respectively, to two new employees as part of its 2023 Inducement Plan. This includes 487,500 stock options and 81,250 RSUs awarded to Adam Crystal, M.D., Ph.D., following his appointment as President of Research and Development. The options have an exercise price of $5.20 per share, aligning with the stock's closing price on the grant date, March 1, 2023. The vesting schedules for both options and RSUs are contingent upon continued employment.
Tango Therapeutics (NASDAQ: TNGX), a biotechnology company focused on advanced cancer treatments, announced key investor conference appearances in March 2023. CEO Barbara Weber will participate in the Cowen 43rd Annual Health Care Conference on March 8 at 11:10 AM ET in Boston, and the Barclays Global Healthcare Conference on March 14 at 3:35 PM ET in Miami. Live webcasts of these presentations will be accessible on their website, with replays available for 90 days post-event. Tango Therapeutics aims to leverage synthetic lethality to develop innovative cancer therapies targeting tumor suppressor gene loss.
Tango Therapeutics, a clinical-stage biotechnology firm (NASDAQ: TNGX), has appointed Adam Crystal, M.D., Ph.D. as President of Research and Development. Dr. Crystal will lead preclinical research, drug discovery, and clinical development, working with existing leaders in the company. Tango is currently enrolling patients in a crucial clinical trial and plans to introduce three more programs in the next year. Dr. Crystal's expertise in precision oncology is expected to enhance the advancement of Tango's pipeline, which focuses on synthetic lethal targeting in cancer treatment.
Tango Therapeutics (NASDAQ: TNGX), a clinical-stage biotechnology company focused on precision cancer medicine, is set to participate in key investor conferences this February. The first event is the Guggenheim Healthcare Talks | 2023 Oncology Conference on February 9, 2023, at 1:00 PM ET in New York. The second is the SVB Securities Global Biopharma Conference on February 16, 2023, at 9:20 AM ET, conducted virtually. Live webcasts will be available on the Company's website, with replays archived post-presentation. Tango is committed to advancing cancer treatment through innovative drug targets and leveraging synthetic lethality principles.
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