Tango Therapeutics — Third Quarter 2026 Earnings Summary

Financial Performance:

• Collaboration revenue was $0 for the three and nine months ended September 30, 2026, compared to $53.8 million and $62.4 million, respectively, in the same periods of 2025, following the truncation of the Gilead collaboration agreement in August 2025.
• Research and development expenses were $48.9 million for the three months ended September 30, 2026 (up from $30.8 million in 2025) and $119.7 million for the nine months ended September 30, 2026 (up from $100.1 million in 2025), driven by increased spend on vopimetostat and TNG456 programs.
• General and administrative expenses were $29.2 million for the three months ended September 30, 2026 (up from $8.9 million in 2025) and $67.0 million for the nine months ended September 30, 2026 (up from $31.7 million in 2025), primarily due to increased personnel costs and share-based compensation related to former executive officers.
• Net loss was $68.4 million ($0.39 per share) for the three months ended September 30, 2026, compared to a net income of $15.9 million ($0.14 per share) in the same period in 2025; for the nine months ended September 30, 2026, net loss was $169.2 million ($1.08 per share) compared to a net loss of $62.8 million ($0.57 per share) in 2025.
• Cash, cash equivalents, and marketable securities totaled $977.5 million as of September 30, 2026, with the company expecting this amount to fund its current operating plan.

Guidance and Future Outlook:

• A registrational Phase 3 study of vopimetostat plus daraxonrasib for front-line MTAP-deleted pancreatic cancer is expected to initiate in the first half of 2027.
• Data from vopimetostat monotherapy in non-small cell lung cancer (NSCLC) and TNG456 in NSCLC, glioblastoma, and other cancers is expected to be disclosed in January 2027.
• The company plans to engage with regulators regarding the possibility of seeking accelerated approval for the vopimetostat plus daraxonrasib combination in second-line pancreatic cancer.
• A Phase 1/2 combination study of vopimetostat plus pan-RAS inhibitors in MTAP-wild type pancreatic cancer is planned to initiate in the first half of 2027.

Business Segments and Product Lines:

• Phase 1/2 data presented at the 2026 ESMO Congress showed an 82% objective response rate (ORR) and 88% nine-month progression-free survival (PFS) rate for vopimetostat plus daraxonrasib in patients with second- or third-line MTAP-deleted, RAS-mutant pancreatic cancer; median PFS was not reached.
• The vopimetostat plus daraxonrasib combination demonstrated a generally well-tolerated safety profile at the go-forward dose of vopimetostat 200 mg/daraxonrasib 100 mg QD.
• Enrollment has initiated for the ERASCA study, a Phase 1/2 trial of vopimetostat in combination with pan-RAS molecular glue ERAS-0015 in patients with MTAP-deleted PDAC and MTAP-deleted/RAS-mutant NSCLC.
• The company announced a strategic reprioritization in October 2026 to focus research and development activities on PRMT5-targeted therapies.

Other Key Points:

• The Gilead collaboration agreement concluded all research activities in August 2025, resulting in the recognition of all remaining deferred revenue as collaboration revenue during the year ended December 31, 2025.
• The company intends to initiate a global, randomized Phase 3 study comparing vopimetostat 200 mg plus daraxonrasib 100 mg once-daily against standard-of-care chemotherapy, with dual primary endpoints of ORR and PFS.
• Management highlighted significant strides in 2026 toward bringing vopimetostat to patients with pancreatic cancer, citing the ESMO data as reinforcing the program's potential.