Tango Therapeutics Q1 net loss $25.2M; cash $449.9M; TNG908 trial open

Tango Therapeutics, Inc.

2023-Q1 EPS reported -$0.29 revenue$5,758,000

Net loss $25.2M ($0.29/share) vs $12.1M loss in Q1 2021; R&D expense $24.3M (+62% YoY).
Cash, cash equivalents & marketable securities $449.9M; expected to fund operations into H2 2024.
TNG908 Phase 1/2 trial open for MTAP-deleted solid tumors; FDA Fast Track Designation granted.
Declared TNG462 (next-gen PRMT5 inhibitor) and TNG260 (STK11-loss inhibitor) as development candidates.
Collaboration revenue $5.8M, down from $6.4M, due to lower Gilead research costs.

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