Tango Therapeutics Halts TNG348 Program

Tango Therapeutics, Inc. (NASDAQ: TNGX) has announced the discontinuation of its TNG348 program due to toxicity observed in the initial study cohorts. The phase 1/2 clinical trial of TNG348, a USP1 inhibitor, is being terminated because of grade 3/4 liver function abnormalities observed in patients remaining on study longer than eight weeks. This decision has led to the extension of the company's cash runway into 2027.

The company's existing portfolio, particularly the PRMT5 program, remains on track. Tango Therapeutics is focusing its resources and capital on its corest clinical programs. The company remains committed to delivering a comprehensive clinical update on TNG908 and TNG462 in the second half of this year.

TNG348 was being studied in a phase 1/2 clinical trial evaluating safety, pharmacokinetics, pharmacodynamics, and efficacy as a single agent and in combination with olaparib, a PARP inhibitor, in patients with BRCA1/2-mutant and other HRD+ (homologous recombination deficient) cancers. No patient had yet received a combination of TNG348 and olaparib.

Tango Therapeutics is a clinical-stage biotechnology company dedicated to discovering novel drug targets and delivering the next generation of precision medicine for the treatment of cancer. The company leverages the genetic principle of synthetic lethality to discover and develop therapies that target critical targets in cancer, including expanding the universe of precision oncology targets into novel areas such as tumor suppressor gene loss and their contribution to the ability of cancer cells to evade immune cell killing. Following these announcements, the company's shares moved -4.5%, and are now trading at a price of $7.06. If you want to know more, read the company's complete 8-K report here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.