Business
Tango Therapeutics Reports Third Quarter 2021 Financial Results and Provides Business Highlights
- Strong cash position of $504 million supports advancing discovery and clinical pipeline into second half of 2024 - - On track for IND filing in fourth
About this update from Tango Therapeutics, Inc.
[{"type":"text","content":"- Strong cash position of $504 million supports advancing discovery and clinical pipeline into second half of 2024 - - On track for IND filing in fourth quarter of 2021 for TNG908, an MTA-cooperative PRMT5 inhibitor that is synthetic lethal with MTAP deletion, for multiple cancers - CAMBRIDGE, Mass., Nov. 09, 2021 (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 third quarter ended September 30, 2021 and provided business highlights. “This quarter was highlighted by our transition to a public company. We are pleased to have successfully completed the business combination with BCTG Acquisition Corp. (BCTG), and raised sufficient capital to fund operations into the second half of 2024,” said Barbara Weber, M.D., President and Chief Executive Officer of Tango Therapeutics. “We are focused on progressing our pipeline, and in particular, advancing our lead program, an MTAP-selective PRMT5 inhibitor, TNG908, into the clinic in the first half of 2022. An additional highlight of this quarter, and in support of our advancing development programs, we are pleased to welcome Dr. Marc Rudoltz as Chief Medical Officer.” Recent Business Highlights TNG908, MTA-cooperative PRMT5 inhibitor selective for cancers with MTAP deletion, on track for filing an IND. The Company plans to file an investigational new drug (IND) application in the fourth quarter of 2021 and initiate a Phase 1/2 clinical trial in the first half of 2022. Preclinical efficacy data of TNG908 that showed strong regressions in multiple MTAP deleted solid tumor patient derived xenograft (PDX) models was presented at AACR-NCI-EORTC. Strengthened the management team with the hires of Dr. Marc Rudoltz as Chief Medical Officer and Doug Barry as General Counsel. In November, the Company announced the senior management appointments of Dr. Rudoltz and Mr. Barry. Dr. Rudoltz brings more than 20 years’ experience leading all phases of clinical drug development to Tango. Mr. Barry has been practicing corporate law for more than 20 years, most recently at Alexion and has extensive experience in public reporting and corporate governance. Presented preclinical data on lead program and discovery platform at AACR-NCI-EORTC 2021. Last...