Business
Tango Therapeutics Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Highlights
– Dose escalation ongoing in four clinical-stage precision oncology programs; TNG908 phase 1/2 clinical data expected in 2024 – – First patient dosed in
About this update from Tango Therapeutics, Inc.
[{"type":"text","content":"\n– Dose escalation ongoing in four clinical-stage precision oncology programs; TNG908 phase 1/2 clinical data expected in 2024 –\n\n\n– First patient dosed in phase 1/2 clinical trial of TNG348 in patients with BRCA1/2-mutant and other HRD+ cancers –\n\n\n– FDA Orphan Drug Designation granted for TNG462 for the treatment of soft tissue sarcomas –\n\n\n– Strong cash position of $337 million as of December 31, 2023, combined with $42 million in proceeds from ATM in January 2024; cash runway into late 2026 expected to fund all clinical programs through proof-of-concept –\n\n\n BOSTON--(BUSINESS WIRE)--\nTango Therapeutics, Inc. (NASDAQ: TNGX), a clinical-stage 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, 2023, and provided business highlights.\n\n\n“In 2023, we made meaningful progress developing precision oncology treatments and now have four ongoing phase 1/2 clinical trials. These treatments have the potential to reach people with a wide range of cancers, including those with MTAP-deleted solid tumors, STK11 loss-of-function mutations, BRCA 1/2 mutations and other DNA damage repair defects. To support the advancement of our broad clinical portfolio, we expanded our management team, adding members with expertise in regulatory affairs and clinical development,” said Barbara Weber, M.D., President and Chief Executive Officer of Tango Therapeutics. “We are off to a strong start in 2024, marked by dosing the first patient in the phase 1/2 clinical trial for TNG348, receiving Orphan Drug Designation from the U.S. FDA for TNG462 and strengthening our cash position. We remain on track to provide TNG908 clinical data this year.\"\n\n\nRecent Business Highlights\n\n\nPipeline Update\n\n\nTNG908 phase 1 dose escalation ongoing\n\n\n\nDose escalation and patient enrollment is ongoing in the phase 1/2 clinical trial evaluating TNG908, an MTA-cooperative PRMT5 inhibitor, in patients with MTAP-deleted solid tumors, including glioblastoma (GBM). To date, the safety, tolerability and pharmacokinetics profiles are favorable.\n\n\n\nMTAP deletions occur in approximately 10%-15% of all human cancers, including 40% of GBM.\n\n\n\nTNG462, a potentially best-in-class MTA-cooperative PRMT5 inhibitor...