Tango Therapeutics, Inc. Segments Disclosure
15. Segment Information
The Company operates in the U.S. and has one operating segment that is managed on a consolidated basis. The Company’s revenues are primarily generated through its license and collaboration agreement with Gilead. The accounting policies, as described in the summary of significant accounting policies, is applicable across all Company operations. The Company’s chief executive officer (), as the chief operating decision maker (CODM), manages and allocates resources to the operations of our company on a consolidated basis. Managing and allocating resources on a total company basis enables the CODM to assess the overall level of resources available and how to best deploy these resources across departments and research and development programs that are in-line with our long-term company-wide strategic goals. Consistent with this decision-making process, the Company’s CODM uses consolidated, single-segment financial information for purposes of evaluating performance, forecasting future period financial results and allocating resources.
The CODM assesses performance and decides how to allocate resources based on segment net income (loss). This measure is used to monitor budget versus actual results to assess performance of the segment.
The following table presents the Company’s segment expense for the years ended December 31, 2025, 2024 and 2023:
|
|
Oncology Segment |
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|
|
Year Ended December 31, |
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|
|
2025 |
|
|
2024 |
|
|
2023 |
|
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|
|
(in thousands) |
|
|||||||||
Revenue |
|
$ |
62,384 |
|
|
$ |
42,069 |
|
|
$ |
36,527 |
|
Less: |
|
|
|
|
|
|
|
|
|
|||
vopimetostat direct program expenses - R&D |
|
|
26,522 |
|
|
|
16,161 |
|
|
|
10,158 |
|
TNG456 direct program expenses - R&D |
|
|
6,557 |
|
|
|
4,531 |
|
|
|
- |
|
TNG260 direct program expenses - R&D |
|
|
6,278 |
|
|
|
9,382 |
|
|
|
8,171 |
|
TNG961 direct program expenses - R&D |
|
|
5,675 |
|
|
|
- |
|
|
|
- |
|
TNG908 direct program expenses* - R&D |
|
|
5,027 |
|
|
|
13,587 |
|
|
|
10,851 |
|
TNG348 direct program expenses** - R&D |
|
|
- |
|
|
|
5,476 |
|
|
|
6,564 |
|
Discovery direct program expenses - R&D |
|
|
10,167 |
|
|
|
24,440 |
|
|
|
23,426 |
|
Personnel-related expenses - R&D |
|
|
51,474 |
|
|
|
51,457 |
|
|
|
38,469 |
|
Facilities and other related expenses - R&D |
|
|
20,465 |
|
|
|
18,884 |
|
|
|
17,559 |
|
Other segment expenses (a) |
|
|
31,813 |
|
|
|
28,453 |
|
|
|
23,073 |
|
Segment net loss |
|
$ |
(101,594 |
) |
|
$ |
(130,302 |
) |
|
$ |
(101,744 |
) |
*In November 2024, we announced we stopped enrollment of the TNG908 Phase 1/2 clinical trial due to insufficient brain exposure for clinical activity in GBM patients and portfolio prioritization. Expenses beyond November 2024 related to previously enrolled patients and close-out clinical trial costs.
**In May 2024, we announced the discontinuation of TNG348, a USP1 inhibitor, due to toxicity observed in the dose escalation portion of our Phase 1/2 clinical trial. Expenses beyond May 2024 related to close-out clinical trial costs.
(a) Other segment expenses included in Segment net loss includes general and administrative expense, interest income, other income and provision for income taxes.
The measure of segment assets is reported on the consolidated balance sheet as total consolidated assets. The CODM reviews cash, cash equivalents and marketable securities as a measure of segment assets. As of December 31, 2025, the Company’s cash, cash equivalents and marketable securities were $343.1 million. All long-lived assets of the Company reside in the U.S.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.