Tango Therapeutics pivots pancreatic cancer strategy toward first-line treatment
The biotechnology company reported a first-quarter net loss of $45.5 million as it advances its vopimetostat combination therapy.
Tango Therapeutics (TNGX) reported a first-quarter net loss of $45.5 million, or $0.32 a share.
The biotech developer shifted its clinical focus this quarter, prioritizing the advancement of vopimetostat plus daraxonrasib into Phase 3 development for first-line MTAP-deleted pancreatic cancer. The company previously intended to pursue a pivotal study in second-line pancreatic cancer.
Clinical data supported the strategic pivot. Vopimetostat plus daraxonrasib demonstrated a 92% objective response rate and a 90% 6-month progression-free survival rate in patients with MTAP-deleted pancreatic ductal adenocarcinoma (PDAC). A separate combination of vopimetostat plus zoldonrasib showed a 52% objective response rate and 74% 6-month progression-free survival rate in patients with MTAP-deleted and KRAS G12D mutant PDAC.
The quarterly net loss widened from $39.9 million, or $0.36 a share, in the first quarter of 2025. Collaboration revenue fell to $0, compared to $5.4 million in the same period last year, following the truncation of an agreement with Gilead.
Research and development expenses decreased to $33.5 million from $36.4 million in the prior-year period, a decline the company attributed to the discontinuation of the TNG908 clinical program. General and administrative expenses rose to $15.2 million from $11.5 million a year earlier due to higher personnel-related costs.
Tango updated its milestones for the second half of 2026 to include the finalization of the Phase 3 randomized-controlled trial design for front-line pancreatic cancer. The company also plans to initiate a Phase 1/2 study for a vopimetostat and ERAS-0015 combination.