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BOSTON - Tango Therapeutics, Inc. (NASDAQ: TNGX), a biotechnology company focused on precision cancer medicines, has dosed the first patient in its Phase 1/2 clinical trial for TNG456, a drug candidate targeting MTAP-deleted solid tumors, with an emphasis on treating glioblastoma (GBM), the company announced today. According to InvestingPro data, the company maintains a strong financial health score of 2.19 (FAIR), with a current market capitalization of $224 million.
The trial, identified as NCT06810544, is designed to assess the safety, pharmacokinetics, pharmacodynamics, and anti-tumor activity of TNG456, both as a standalone treatment and in combination with abemaciclib. Initial dosing will concentrate on patients with GBM during the dose-escalation phase.
Adam Crystal, M.D., Ph.D., the President of Research and Development at Tango Therapeutics, highlighted the importance of this milestone, stating that GBM patients have limited treatment options and face a five-year survival rate below 10%. He noted that 45% of GBM cases are MTAP-deleted, which suggests a significant portion of patients could potentially benefit from TNG456. Preclinical studies have shown the drug to be potent, selective for MTAP, and capable of penetrating the brain, which may lead to meaningful efficacy in GBM treatment. While the stock has seen a significant 61% return over the last week, InvestingPro analysis shows that 4 analysts have revised their earnings downwards for the upcoming period.
Tango Therapeutics is dedicated to advancing a pipeline of targeted therapies, leveraging synthetic lethality to address critical cancer targets. The company’s approach begins and ends with patient-focused drug discovery and development.
The press release contains forward-looking statements regarding the potential benefits of TNG456 and the expected progress of clinical trials. These statements involve risks and uncertainties, and actual results may differ materially. Tango’s ability to conduct clinical trials, the efficacy and safety of its product candidates, and the regulatory approval process are all subject to factors that could cause delays or prevent anticipated outcomes.
This news is based on a press release statement from Tango Therapeutics, Inc. and does not include any promotional content. The company has not generated revenue from product sales and has a limited operating history. Tango’s future success will depend on the continued advancement of its clinical programs and potential commercialization of its product candidates. According to InvestingPro data, the company holds more cash than debt on its balance sheet, with a healthy current ratio of 6.26, though it is quickly burning through cash. Discover 9 more exclusive ProTips and comprehensive analysis in the Pro Research Report, available to InvestingPro subscribers.
In other recent news, Tango Therapeutics Inc. disclosed its fourth-quarter financial results for 2024, maintaining a Buy rating and a $13.00 price target from H.C. Wainwright. The company reported a net loss of $0.35 per share, closely aligning with H.C. Wainwright’s expected net loss of $0.33 per share. Tango’s research and development expenses totaled $33.9 million, while selling, general, and administrative expenses reached $11.1 million, both slightly below the firm’s estimates. H.C. Wainwright adjusted its projection for Tango’s full-year 2025 net loss to $1.52 per share, up from the previous estimate of $1.42 per share. Tango concluded 2024 with $257.9 million in cash, cash equivalents, and marketable securities, which is expected to support operations into the third quarter of 2026. H.C. Wainwright reaffirmed its positive stance on Tango Therapeutics, emphasizing its confidence in the company’s financial management and growth potential. These developments highlight Tango’s strategic financial positioning and operational outlook.
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