Quarterly ResultMay 13, 2026, 04:22 PM
Tango Therapeutics Q1 Net Loss $(45.5)M; Cash Runway into 2028
AI Summary
Tango Therapeutics reported a net loss of $(45.5) million for the first quarter of 2026, an increase from $(39.9) million in the same period last year, with collaboration revenue dropping to zero. Despite the increased loss, the company significantly strengthened its liquidity, with cash, cash equivalents, and marketable securities totaling $379.8 million as of March 31, 2026, extending its cash runway into 2028. This was largely due to $62.8 million raised from at-the-market offerings during the quarter. The company also outlined several upcoming clinical milestones for 2026, including initial Phase 1/2 data disclosures for vopimetostat and TNG456, and the initiation of a new combination trial.
Key Highlights
- Net loss increased to $(45.5)M in Q1 2026 from $(39.9)M in Q1 2025.
- Collaboration revenue was $0 in Q1 2026, down from $5.4M in Q1 2025.
- Cash and cash equivalents rose to $157.8M as of March 31, 2026.
- Total cash, cash equivalents, and marketable securities reached $379.8M.
- Company expects existing capital to fund operations into 2028.
- Raised $62.8M from at-the-market offerings in Q1 2026.
- Anticipates initial Phase 1/2 data for vopimetostat combination trial in 2026.
- Plans to initiate vopimetostat and ERAS-0015 combination trial in H2 2026.