Companies /Healthcare

Tango Therapeutics Inc

NASDAQ: TNGX Biotechnology
$24.92
▲ $0.29 (+1.18%) today
Markets closed · 8:49am ET

Q4 2025 Earnings

Reported Mar 5, 2026, 7:15am ET · SEC source
$-0.29
Beat +11.83%
EPS · est. $-0.33
$0
Miss +0.00%
Revenue · est. $500,400
+20.9%
Beating market
TNGX vs S&P since report
2 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
0+20%+40%Mar 5Mar 6report 7:15am ETearnings−1.3%+35.4%
0+20%+40%Mar 5Mar 6earnings−1.3%+35.4%
TNGX +35.4%S&P 500 −1.3%
0+20%+40%Mar 5Mar 6report 7:15am ETearnings−0.9%+35.4%
0+20%+40%Mar 5Mar 6earnings−0.9%+35.4%
TNGX +35.4%NASDAQ −0.9%
0+20%+40%Mar 4Mar 13report 7:15am ETearnings−2.0%+37.8%
0+20%+40%Mar 4Mar 13earnings−2.0%+37.8%
TNGX +37.8%S&P 500 −2.0%
0+20%+40%Mar 4Mar 13report 7:15am ETearnings−1.3%+37.8%
0+20%+40%Mar 4Mar 13earnings−1.3%+37.8%
TNGX +37.8%NASDAQ −1.3%
+36.28%
Day of report
+0.71%
Next session
+1.90%
One week
+17.65%
30 days

S&P 500 over the same 30 days: −3.24%.

Did TNGX Beat Earnings? Q4 2025 Results

Tango Therapeutics entered a distinctly transitional phase in Q4 2025, reporting zero revenue against a consensus estimate of $508,000, a -100% miss that was fully anticipated given the company had already recognized all remaining deferred revenue from its Gilead collaboration in Q3. The quarter's net loss widened to $38.75 million, or $0.29 per share, compared to a $30.76 million loss in Q4 2024, while R&D spending held roughly flat at $32.10 million as investment shifted toward lead asset vopimetostat and away from discontinued programs. The real story, however, is what comes next: with $343 million in cash providing runway into 2028, Tango is positioning vopimetostat as the preferred PRMT5 inhibitor partner for RAS-targeted therapies, including a newly announced collaboration with Erasca that sent shares surging to a fresh 52-week high. A pivotal monotherapy study in second-line MTAP-deleted pancreatic cancer is slated to begin in 2026, alongside expected combination data readouts with Revolution Medicines' RAS(ON) inhibitors, giving investors several meaningful clinical inflection points on the horizon.

Key Takeaways
  • Accelerated recognition of all remaining Gilead deferred revenue in Q3 2025 following truncation of collaboration agreement
  • Decreased spend on discontinued clinical programs TNG908 and TNG348 reduced full-year R&D expenses
  • Increased investment in vopimetostat, TNG456, and TNG961 clinical advancement

“We enter 2026 with a clear focus on execution, building on the significant progress achieved across our development portfolio in 2025. Our lead clinical program, vopimetostat, continues to demonstrate best-in-class potential, and we are on track to launch our first pivotal study in 2L pancreatic cancer this year. Strong enrollment continues in the combination study with Revolution Medicines' RAS(ON) inhibitors, and we are encouraged by the early safety and efficacy data. Given the differentiated profile of vopimetostat enabling the potential for efficacious and tolerable RAS inhibitor combinations, we have entered into a supply agreement with Erasca for its pan-RAS molecular glue ERAS-0015 to further explore the potential of vopimetostat as the preferred PRMT5 inhibitor for combination therapy in pancreatic cancer and other tumor types. These activities are supported by our robust balance sheet, which provides cash runway into 2028, and plans to allocate capital with discipline in areas where we are best positioned to create significant value for patients.”

Tango Therapeutics CEO, on the earnings call

Forward Guidance & Outlook

Tango expects its cash, cash equivalents, and marketable securities of $343 million to fund operations into 2028, beyond key anticipated data inflection points. Key 2026 milestones include: initiation of a pivotal monotherapy study for vopimetostat in 2L MTAP-deleted pancreatic cancer; initial Phase 1/2 combination data with Revolution Medicines' RAS(ON) inhibitors; vopimetostat monotherapy lung cancer clinical data update; and TNG456 Phase 1/2 initial safety and efficacy data. The company plans to allocate capital with discipline in areas where it is best positioned to create significant value.

TNGX YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$-40,000,000$-20,000,000$-42,862,701$-41,864,000Operating Income$-39,889,850$-38,749,000Net Income
$-40,000,000$-20,000,000Operating IncomeNet Income

TNGX Revenue by Segment

Gilead Collaboration Revenue
Collaboration Revenue

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