Tango Therapeutics

Tango Therapeutics is a clinical-stage biotech company developing precision oncology therapies targeting synthetic lethality in cancer which leads to cell death. Its discovery platform identifies novel targets to develop drugs focused on: 1) countering tumor suppressor gene loss to help the immune system recognize and kill cancer cells, and 2) reversing cancer cell evasion of the immune system.

Tango has five pipeline programs, including lead candidate TNG908, an inhibitor for multiple cancer indicators. The FDA approved TNG908's IND in January 2022 and granted it Orphan Drug Designation. TNG908 is in Phase I/II trials, with preliminary efficacy data expected in H1 2023. Tango also plans to file INDs for TNG260 (STK11 mutant cancers) and TNG348 (BRCA1/2-mutant cancers). In January 2023 , the FDA cleared the IND for TNG462, a next-gen PRMT5 inhibitor for cancers with MTAP deletion.

Key partnerships and customers

Outside its pipeline, the company also entered into a collaborative partnership with big pharma Gilead Sciences Inc., in October 2018 which was later expanded for two years in August 2020 to identify new immune evasion targets.

Funding and financials 

Tango went public in August 2021 via a SPAC deal, trading on Nasdaq under the ticker symbol “TNGX”, and the company received gross proceeds of USD 353 million. In August 2023, the company raised USD 80 million via a private placement , which was led by Nextech. The new funds were used toward expanding its TNG908 and TNG462 PRMT5 programs to various other indications.

Tango has not yet generated any drug sales and does not expect to do so for several years. However, for the full-year the company reported collaboration revenue of USD 24.9 million (down 4.42% YoY) and a net loss of USD 108.2 million (up 85.9% YoY).