Tango Therapeutics, Inc. reported its financial results for the first quarter of 2025, revealing a collaboration revenue of $5.4 million, a decrease from $6.5 million in the same period last year. The company continues to operate at a loss, with a net loss of $39.9 million for the quarter, compared to a net loss of $37.9 million in the first quarter of 2024. The increase in losses is attributed to higher research and development expenses, which totaled $36.4 million, down from $38.1 million a year earlier, primarily due to the discontinuation of certain clinical programs.
The company’s total operating expenses for the quarter were $47.9 million, slightly lower than the $48.7 million reported in the previous year. General and administrative expenses rose to $11.5 million from $10.7 million, driven by increased personnel-related costs. Tango's cash and cash equivalents, along with marketable securities, stood at $216.7 million as of March 31, 2025, which the company expects will fund operations into the first quarter of 2027.
In terms of strategic developments, Tango Therapeutics is advancing its clinical pipeline, focusing on several product candidates, including TNG462 and TNG456, which are in various stages of clinical trials. The company plans to initiate a combination trial for TNG462 in the second quarter of 2025 and has received FDA clearance for TNG456, with patient enrollment expected to begin shortly. The company is also working on TNG260, a first-in-class CoREST inhibitor, and TNG961, targeting HBS1L in specific solid tumors.
Operationally, Tango Therapeutics has made significant adjustments to its clinical programs, including the discontinuation of TNG348 due to safety concerns. The company has also streamlined its research efforts, which has contributed to a reduction in operating expenses. As of March 31, 2025, Tango had 108.1 million shares outstanding, reflecting a slight increase from the previous quarter. The company continues to face substantial risks, including the need for additional funding and the uncertainty surrounding the success of its clinical trials, which could impact its ability to achieve profitability in the future.
About Tango Therapeutics, Inc.
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