Tango Therapeutics (TNGX) Q3 2026 earnings summary

Executive summary

• Q3 2026 net loss was $68.4M versus net income of $15.9M a year earlier; collaboration revenue was $0 versus $53.8M after Gilead research activities ended in 2025.

• Vopimetostat plus daraxonrasib showed an 82% ORR and 88% 9-month PFS in efficacy-evaluable 2L/3L pancreatic cancer patients; median PFS was not reached.

• October reprioritization focused R&D on PRMT5 therapies, including vopimetostat and TNG456; quarter-end cash, cash equivalents and marketable securities totaled $977.5M.

Financial highlights

• Q3 collaboration revenue was $0 versus $53.8M in 2025; 9M revenue was $0 versus $62.4M.

• Q3 net loss was $68.4M, or $0.39 per share, versus net income of $15.9M and basic/diluted EPS of $0.14/$0.13; 9M net loss was $169.2M, or $1.08 per share, versus $62.8M and $0.57.

• Q3 R&D expense was $48.9M versus $30.8M, G&A was $29.2M versus $8.9M, and total operating expenses were $78.1M versus $39.7M.

• 9M R&D expense was $119.7M versus $100.1M; G&A was $67.0M versus $31.7M, mainly reflecting personnel and share-based compensation costs.

Outlook and guidance

• A global randomized Phase 3 trial of vopimetostat 200 mg plus daraxonrasib 100 mg QD versus standard-of-care chemotherapy is planned for 1H 2027 in front-line MTAP-deleted PDAC; primary endpoints are ORR and PFS, with overall survival a key secondary endpoint.

• Regulatory discussions will address possible 2L PDAC approval; daraxonrasib clinical supply for the planned registrational trial is not assured on the expected timeline or commercially reasonable terms.

• A Phase 1/2 vopimetostat plus pan-RAS inhibitor study in MTAP-wild-type pancreatic cancer is planned for 1H 2027; enrollment began in the vopimetostat plus ERAS-0015 study.

• Vopimetostat lung cancer monotherapy data and initial TNG456 monotherapy data are expected in January 2027; broader TNG456 lung cancer, glioblastoma and other cancer data are also anticipated.