Tango Therapeutics, Inc.

Listed Company

TNGXCIK 0001819133NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$62.38M

Net Income

$-101.59M

Total Assets

$398.69M

Equity

$346.18M

Shares Out

142.69M

Op. Cash Flow

$-138.89M

Business

Tango Therapeutics, Inc. discovers and develops targeted oncology therapies by leveraging a functional genomics-based discovery platform to identify synthetic lethal and immune‑evasion targets associated with tumor suppressor gene loss. Its main products are small‑molecule drug candidates, including MTA‑cooperative PRMT5 inhibitors (TNG462 for non‑CNS tumors and brain‑penetrant TNG456 for CNS/GBM) and a CoREST inhibitor (TNG260) plus earlier-stage discovery programs. The company organizes around target discovery, preclinical research, clinical development and strategic collaborations/licensing, and outsourced manufacturing. It conducts clinical trials and collaborations globally, markets via partner arrangements, and relies on CDMOs for supply and distribution.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total Revenue	62	42	37	25	37
Research and development	132	144	115	106	78
General and administrative	42	44	36	30	18
Total operating expenses	174	188	151	136	95
Loss from operations	−111	−146	−114	−111	−58
Interest income	6	8	7	1	495,000
Other income, net	4	8	6	1	−248,000
Total other income, net	10	16	13	3	247,000
Loss before income taxes	−102	−130	−102	−108	−58
Provision for income taxes	−4,000	−200,000	−100,000	−100,000	−300,000
Net loss	−102	−130	−102	−108	−58
Net loss per common share - basic	−0.87	−1.19	−1.08	−1.23	−0.94
Net loss per common share - diluted	−0.87	−1.19	−1.08	−1.23	−0.94
Weighted average number of common shares outstanding - basic	116	109	95	88	62
Weighted average number of common shares outstanding - diluted	116	109	95	88	62
Unrealized (loss) gain on marketable securities	−112,000	150,000	4	−3	−782,000
Comprehensive loss	−102	−130	−98	−111	−59

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	112	70	66	60	143
Marketable securities	231	188	271	306	343
Restricted cash	400,000	900,000	900,000	567,000	567,000
Prepaid expenses and other current assets	10	8	9	7	5
Total current assets	354	266	347	375	492
Property and equipment, net	7	8	10	11	5
Operating lease right-of-use assets	36	40	44	47	1
Restricted cash, net of current portion	2	3	3	3	2
Other assets	303,000	4,000	46,000	5,000	19,000
Total assets	399	316	403	436	500
Accounts payable	1	2	3	4	3
Accrued expenses and other current liabilities	18	16	15	17	10
Operating lease liabilities	3	2	2	2	2
Deferred revenue	0	18	26	32	26
Total current liabilities	22	38	46	56	41
Operating lease liabilities, net of current portion	31	34	37	39	—
Deferred revenue, net of current portion	0	45	67	92	115
Total liabilities	53	117	149	187	155
Commitments and contingencies (Note 8)	—	—	—	—	—
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and 2024, respectively	—	—	—	—	—
Common stock, $0.001 par value; 400,000,000 and 200,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; 135,940,454 and 107,729,343 shares issued and outstanding as of December 31, 2025 and 2024, respectively	136,000	108,000	102,000	88,000	88,000
Additional paid-in capital	949	701	624	523	507
Accumulated other comprehensive income	224,000	336,000	186,000	−4	−765,000
Accumulated deficit	−603	−502	−371	−270	−161
Total stockholders' equity	346	200	253	249	345
Total liabilities and stockholders' equity	399	316	403	436	500

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−102	−130	−102	—	—
Depreciation	2	3	2	2	900,000
Noncash operating lease expense	4	4	4	2	1
Stock-based compensation	26	29	19	14	8
Accretion on marketable securities	−3	−5	−3	—	—
Other, net	−77,000	23,000	22,000	−669,000	254,000
Accounts receivable	—	—	2	—	—
Prepaid expenses and other current assets	−2	370,000	−2	−2	−3
Other long-term assets	−299,000	43,000	−41,000	122,000	−139,000
Accounts payable	−825,000	−1	−2	1	1
Accrued expenses and other liabilities	1	1	−2	8	4
Operating lease liabilities	−3	−2	−2	2	−1
Deferred revenue	−62	−30	−32	−17	−12
Net cash used in operating activities	−139	−132	−118	−109	−60
Purchase of property and equipment	−1	−754,000	−2	−8	−2
Sales and maturities of marketable securities	225	328	354	243	191
Purchases of marketable securities	−264	−241	−311	−209	−372
Net cash (used in) provided by investing activities	−41	86	41	26	−183
Proceeds from issuance of common stock and pre-funded warrants	212	42	80	—	—
Proceeds from issuance of common stock upon exercise of stock options and purchase of shares under ESPP	10	6	2	2	1
Return of capital from a stockholder - related party	—	—	689,000	—	—
Payment of transaction costs	−36,000	—	−241,000	−8,000	—
Net cash provided by financing activities	223	48	82	2	357
Net change in cash, cash equivalents and restricted cash	43	2	6	−81	114
Cash paid for leases	6	6	6	1	2
Purchases of property and equipment included in accounts payable and accrued expenses	—	—	38,000	131,000	154,000
Operating lease liabilities from obtaining right-of-use assets	1	210,000	—	48	—
Revaluation of right-of-use asset and lease liability upon lease remeasurement	1	497,000	−228,000	300,000	5

Filings

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