Companies /Healthcare

Tango Therapeutics Inc

NASDAQ: TNGX Biotechnology
$24.92
▲ $0.29 (+1.18%) today
Markets closed · 5:31pm ET

Q3 2026 Earnings

Reported Aug 11, 2026, 7:20am ET · SEC source
$-0.37
Miss −14.23%
EPS · est. $-0.32 GAAP
$0
Beat +0.00%
Revenue · est. $0
−8.9%
Trailing market
TNGX vs S&P since report
2 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−6%−3%0Aug 11Aug 12report 7:20am ETearnings−0.3%−5.6%
−6%−3%0Aug 11Aug 12earnings−0.3%−5.6%
TNGX −5.6%S&P 500 −0.3%
−6%−3%0Aug 11Aug 12report 7:20am ETearnings+0.1%−5.6%
−6%−3%0Aug 11Aug 12earnings+0.1%−5.6%
TNGX −5.6%NASDAQ +0.1%
−8%−4%0Aug 10Aug 19report 7:20am ETearnings−0.4%−6.6%
−8%−4%0Aug 10Aug 19earnings−0.4%−6.6%
TNGX −6.6%S&P 500 −0.4%
−8%−4%0Aug 10Aug 19report 7:20am ETearnings−0.2%−6.6%
−8%−4%0Aug 10Aug 19earnings−0.2%−6.6%
TNGX −6.6%NASDAQ −0.2%
−4.81%
Day of report
−2.89%
Next session
−3.42%
One week
−9.72%
30 days

S&P 500 over the same 30 days: −0.81%.

Did TNGX Beat Earnings? Q3 2026 Results

Tango Therapeutics posted a disappointing third quarter for fiscal 2026, with a GAAP loss of $0.37 per share missing the consensus estimate of $0.32 by 14.23%, as sharply higher operating costs overwhelmed a company that now generates zero collaboration revenue following the wind-down of its Gilead partnership. Revenue came in at $0, a complete reversal from the prior-year period, as all deferred revenue tied to that agreement was fully recognized in 2025. R&D spending climbed to $37.20 million from $32.81 million a year ago, while G&A expenses nearly doubled to $22.59 million from $11.34 million, driven by personnel costs and share-based compensation, pushing the net loss to $55.34 million. Still, the clinical story softened the financial blow considerably: vopimetostat combined with daraxonrasib produced a 92% objective response rate in MTAP-deleted, RAS-mutant pancreatic cancer, sending shares up 45% on the data. With roughly $1.00 billion in cash, Tango expects to fund operations through commercialization preparation, with a Phase 3 trial design for front-line pancreatic cancer targeted for H2 2026.

Key Takeaways
  • Positive Phase 1/2 clinical data for vopimetostat + daraxonrasib combination in pancreatic cancer
  • Increased R&D spending driven by advancement of vopimetostat and TNG456 clinical programs
  • Zero collaboration revenue following conclusion of Gilead collaboration research activities
  • Increased G&A spending due to personnel-related costs including share-based compensation

“The second quarter marked a pivotal period for Tango, with milestones that validated our PRMT5 inhibitor pipeline and reflect the progress of our maturing organization. Notably, initial Phase 1/2 data showed vopimetostat plus daraxonrasib achieved a 92% objective response rate with encouraging durability in MTAP-deleted, RAS-mutant pancreatic cancer, giving us the confidence to move this combination rapidly into Phase 3 development for patients.”

Tango Therapeutics CEO, on the earnings call

Forward Guidance & Outlook

Tango expects its approximately $1.0 billion cash position to fund its current operating plan through planned development and commercialization preparation in pancreatic cancer and ongoing pipeline work. Key upcoming milestones for H2 2026 include: presenting Phase 1/2 vopimetostat + RAS(ON) inhibitor combination data at the 2026 ESMO Congress (October 23-27), finalizing the design of a Phase 3 randomized-controlled trial of the combination approach in front-line pancreatic cancer, disclosing vopimetostat lung cancer monotherapy data, releasing initial TNG456 data in glioblastoma and other cancers, and initiating a Phase 1/2 vopimetostat + ERAS-0015 (Erasca) combination study.

TNGX YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$-120,000,000$-80,000,000$-40,000,000$-110,569,632$-59,785,000Operating Income$-96,144,892$-55,341,000Net Income
$-120,000,000$-80,000,000$-40,000,000Operating IncomeNet Income

TNGX Revenue by Segment

Gilead Collaboration Revenue
Collaboration Revenue

Figures from SEC filings and company reports. Not investment advice.