Companies /Healthcare

Tango Therapeutics Inc

NASDAQ: TNGX Biotechnology
$24.92
▲ $0.29 (+1.18%) today
Markets closed · 3:52pm ET

Q3 2025 Earnings

Reported Nov 4, 2025, 9:10am ET · SEC source
$0.13
Beat +287.32%
EPS · est. $-0.07
$53.8M
Beat +30.47%
Revenue · est. $41.2M
+18.7%
Beating market
TNGX vs S&P since report
2 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−6%−3%0Nov 4Nov 5report 9:10am ETearnings+0.7%−3.7%
−6%−3%0Nov 4Nov 5earnings+0.7%−3.7%
TNGX −3.7%S&P 500 +0.7%
−6%−3%0Nov 4Nov 5report 9:10am ETearnings+0.5%−3.7%
−6%−3%0Nov 4Nov 5earnings+0.5%−3.7%
TNGX −3.7%NASDAQ +0.5%
−10%−5%0+5%Nov 3Nov 12report 9:10am ETearnings+0.5%+3.9%
−10%−5%0+5%Nov 3Nov 12earnings+0.5%+3.9%
TNGX +3.9%S&P 500 +0.5%
−10%−5%0+5%Nov 3Nov 12report 9:10am ETearnings−1.1%+3.9%
−10%−5%0+5%Nov 3Nov 12earnings−1.1%+3.9%
TNGX +3.9%NASDAQ −1.1%
+0.00%
Day of report
−6.24%
Next session
+4.62%
One week
+20.22%
30 days

S&P 500 over the same 30 days: +1.55%.

Did TNGX Beat Earnings? Q3 2025 Results

Tango Therapeutics delivered a stunning earnings reversal in Q3 2025, swinging to a profit of $0.13 per diluted share against a consensus estimate of negative $0.07, a beat of 287.32%, while revenue surged 363.6% year over year to $53.81 million, clearing the $41.24 million analyst estimate by 30.47%. The single engine behind those numbers was a one-time accounting event: the truncation of Tango's collaboration agreement with Gilead triggered full recognition of all remaining deferred upfront and research option-extension payments, collapsing what had been a $29.17 million net loss in Q3 2024 into net income of $15.88 million. Crucially, milestones and royalty rights on licensed programs remain intact. Looking ahead, the company enters 2026 with a focused pipeline led by vopimetostat in MTAP-deleted cancers, a pivotal pancreatic cancer trial expected to launch next year, and a cash runway extending into 2028 following a $212 million net-proceeds equity offering completed in October 2025, providing ample runway to reach those catalysts.

Key Takeaways
  • Recognition of all remaining deferred revenue from Gilead collaboration truncation drove Q3 2025 revenue to $53.8 million
  • Reduced R&D expenses from discontinuation of TNG908 and TNG348 programs
  • Lower G&A expenses from decreased personnel-related and external legal/patent costs

“We are wrapping up 2025 with significant momentum, supported by our recent disclosure of vopimetostat clinical data, supporting the potential of this compound to be a turning point for treatment of multiple difficult-to-treat MTAP-del cancers, beginning with pancreatic cancer.”

Tango Therapeutics CEO, on the earnings call

Forward Guidance & Outlook

Tango expects a strong cadence of value-creating milestones in 2026, including: initiation of a pivotal trial for vopimetostat in second-line MTAP-deleted pancreatic cancer; initial safety and efficacy data from combination trials of vopimetostat with Revolution Medicines' RAS(ON) inhibitors (daraxonrasib and zoldonrasib); a vopimetostat monotherapy lung cancer data update; and initial safety and efficacy data from the TNG456 Phase 1/2 trial in glioblastoma. The October 2025 financing of $225 million in gross proceeds, yielding approximately $212 million in net proceeds, extends the company's cash runway into 2028.

TNGX YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$20.0M$40.0M$11.6M$53.8MRevenue$5.8M$14.1MOperating Income$6.2M$15.9MNet Income
$0$20.0M$40.0MRevenueOperating IncomeNet Income

TNGX Revenue by Segment

Gilead Collaboration Revenue$53.8M
Collaboration Revenue

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