Tango Therapeutics (TNGX) Q2 2026 earnings summary

Executive summary

• Achieved a 92% objective response rate and 90% six-month progression-free survival in MTAP-deleted, RAS-mutant pancreatic cancer with vopimetostat plus daraxonrasib, supporting rapid advancement to Phase 3 trials.

• Focused on developing targeted oncology therapies, especially MTAP-deleted selective PRMT5 inhibitors vopimetostat and TNG456, with promising early clinical results in combination with RAS inhibitors for pancreatic and lung cancers.

• Announced key leadership appointments, including a new Chief Commercialization Officer and Chairman of the Board, to support late-stage development and commercialization.

• Plans to advance vopimetostat combinations into Phase 3 trials and initiate new combination studies with Erasca's ERAS-0015 in the second half of 2026.

• Deprioritized TNG260 and TNG961 programs to focus resources on PRMT5 pipeline.

Financial highlights

• No product sales revenue; collaboration revenue from Gilead concluded in 2025, with $0 recognized in Q2 2026 (vs. $3.2M in Q2 2025).

• Net loss for Q2 2026 was $55.3M ($0.37 per share), up from $38.9M ($0.35 per share) in Q2 2025; six-month net loss was $100.9M, up from $78.7M year-over-year.

• Research and development expenses rose to $37.2M in Q2 2026 (from $32.8M), driven by vopimetostat and TNG456 advancement.

• General and administrative expenses increased to $22.6M in Q2 2026 (from $11.3M), mainly due to higher personnel and stock-based compensation.

• Cash, cash equivalents, and marketable securities totaled $1.0B as of June 30, 2026.

Outlook and guidance

• Preparing for Phase 3 trial of vopimetostat plus daraxonrasib in front-line pancreatic cancer, with trial design to be finalized in 2H 2026.

• Plans to initiate Phase 3 trial for vopimetostat plus daraxonrasib in pancreatic cancer and Phase 1/2 trial with ERAS-0015 in H2 2026.

• Plans to present Phase 1/2 combination data at the 2026 ESMO Congress and disclose additional pipeline data in 2H 2026.

• Existing cash and securities expected to fund operations for at least 12 months from the financial statement issuance.

• Anticipates continued operating losses and increased R&D expenses as clinical programs advance.