Business
Tango Therapeutics Reports Fourth Quarter and Full Year 2021 Financial Results and Provides Business Highlights
- TNG908 receives Fast Track designation, expects Phase 1/2 trial to start in 2Q 2022 - - Pipeline programs progressing throughout 2022 - - Strong cash
About this update from Tango Therapeutics, Inc.
[{"type":"text","content":"- TNG908 receives Fast Track designation, expects Phase 1/2 trial to start in 2Q 2022 - - Pipeline programs progressing throughout 2022 - - Strong cash position of $485 million expected to support operations into second half of 2024 - CAMBRIDGE, Mass., March 28, 2022 (GLOBE NEWSWIRE) -- Tango Therapeutics, Inc. (NASDAQ: TNGX), a biotechnology company committed to discovering and delivering the next generation of precision cancer medicines, reported its financial results for the fourth quarter and full year ended December 31, 2021, and provided business highlights. “We had significant accomplishments across our programs during the fourth quarter and throughout the past year. Importantly, we advanced our lead PRMT5 inhibitor program, TNG908, toward the clinic. In addition to receiving FDA clearance for our IND, we recently were granted Fast Track Designation for TNG908 and anticipate initiating a Phase 1/2 clinical trial in the coming months,” said Barbara Weber, M.D., President and Chief Executive Officer of Tango Therapeutics. “Fast Track Designation for TNG908 underscores the need for novel and effective treatment options for patients with MTAP-deleted cancers and we are working with great urgency to move TNG908 into the clinic with the goal of making it available to patients with high unmet needs. Further, we have accelerated the timeline for our Target 3 program, have new data supporting the potential benefit of our USP1 program in additional patient populations, including BRCA1 and BRCA2 mutations, and look forward to sharing additional data throughout the year.” Recent Business Highlights TNG908 granted Fast Track Designation (FTD). In February 2022, the U.S. Food and Drug Administration (FDA) granted FTD to TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 (PRMT5) designed to selectively kill cancer cells with methylthioadenosine phosphorylase (MTAP) deletion. FTD is designed to facilitate the development and expedite the review of drugs to treat serious conditions and fulfill an unmet medical need, with the potential to allow drugs to reach patients earlier. As previously disclosed in January 2022, the FDA cleared the Investigational New Drug (IND) application for TNG908. The Company expects to initiate a Phase 1/2 clinical trial in the second quarter of 2022, with preliminary saf...