Biotech Distilled
Substack ↗ Subscribe
Subscribe Substack ↗ About

Home › Companies › TNGX

Tango Therapeutics

TNGX Lead: Phase 1 ★ Read the deep dive → 8 Biotech Distilled articles ↓ 34 filings & releases ↓ Cash $346M (Jun 30, 2026) ↓ 8 verdicts ↓ 2 timing quotes ↓
Oncology Small Molecule

Market cap $3.63B 168.6M shares (10-Q, Aug 4, 2026) × $21.50 close Nov 6, 2026

Most recent annual filing: 2026-03-05

Catalyst timeline

3 trackedQuarter catalyst calendar →
  1. Vopimetostat monotherapy 2L PDAC pivotal2H 2026Vopimetostat monotherapy 2L PDAC pivotal, 2H 2026, routine
  2. Vopimetostat monotherapy lung cancer Ph1Jan 2027Vopimetostat monotherapy lung cancer Ph1, Jan 2027, material
  3. TNG456 Ph1 interimJan 2027TNG456 Ph1 interim, Jan 2027, material

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (4 active programs)

Discontinued (3)

Capital (as filed)

Cash
$346M cash and cash equivalents · Jun 30, 2026 (10-Q)
Short-term investments
$668M Jun 30, 2026
Operating cash flow
−$38.9M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$1.00B cash per the update of Oct 23, 2026 — the company's own words as read there, not the filed figure

Offering documents (3)

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (8)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (8 calls)

Every verdict Biotech Distilled has published on Tango Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-03-18 Watch Tango Therapeutics (TNGX) - Scientific Deep Dive for Vopimetostat and Pipeline Products Elegant MTA-cooperative PRMT5 mechanism but microscopic data samples, aggressive insider selling by Third Rock Ventures, WuXi supply chain exposure, and C-suite instability make it too risky to buy before the 2026 RevMed combination data.
  2. 2026-04-18 Watch UPDATE: Tango Therapeutics (TNGX) – The C-Suite Revolving Door Continues A second C-suite departure (CFO out) on top of the founding CEO's exit reinforces boardroom instability; the Watch List stance is maintained pending the RevMed combo data and management settling in.
  3. 2026-05-12 Hold UPDATE: Tango Therapeutics (TNGX) – Farallon Steps Into the Seat Third Rock Vacated Farallon Capital's 7.8% specialist stake is the first credible institutional signal taking the other side of Third Rock's exit, warranting an upgrade from passive monitoring to active watching, but the RevMed combo data is still needed before deploying capital.
  4. 2026-05-14 Speculative buy speculative UPDATE: Tango Therapeutics (TNGX) – The Pipeline Just Got a Lot Smaller (and the Smart Money Got Bigger) Adage Capital's 8.98% stake confirms the institutional handoff from Third Rock as a trend rather than a data point, and the pipeline pruning to a single vopimetostat-focused thesis is cleaner to evaluate, justifying a small starter position into the 2026 combo readout.
  5. 2026-05-16 Speculative buy speculative UPDATE: Tango Therapeutics (TNGX) – Four Specialists, One Pile-On, and a 19% Two-Day Gap Down RTW (9.3%) and Nextech (5.1%) joining Farallon and Adage for a combined ~31% specialist ownership, concurrent with a 19.4% two-day generalist sell-off, creates the most asymmetric contrarian entry since the Third Rock unwind began.
  6. 2026-06-08 Buy core UPDATE: Tango Therapeutics (TNGX) - The Combo Hit. 92% ORR. The 92% ORR with 90% six-month PFS in 2/3L MTAP-deleted PDAC confirms the MTA-cooperative combination thesis, transitions the story from small-n hopium to a Phase 3 program, and the $500M raise fortifies the balance sheet to fund it from a position of strength.
  7. 2026-08-12 Buy core UPDATE: Tango Therapeutics (TNGX) - A Billion in the Bank and a Commercial Chief Q2 confirms the thesis intact: $1.0B fortress balance sheet, a Chief Commercialization Officer hired, live FDA registrational dialogue, and the 14.8% post-offering drawdown is offering mechanics not new information, with ESMO in October as the next real durability test.
  8. 2026-10-24 Buy core UPDATE: Tango Therapeutics (TNGX) - The Durability Test Passed. The Tape Didn't Care. ESMO data confirmed durability with 82% ORR and 88% nine-month PFS at nearly double the patient count, but a two-quarter Phase 3 slip, two delayed readouts, and an unresolved daraxonrasib supply agreement are execution risks that warrant watching without breaking the core thesis.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (2 quotes from 2 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (34)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 13, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

18 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)