Tango Therapeutics, Inc.
TNGX · Pharmaceutical Preparations · 144.6M shares · +15%/yr ↑ dilution · EDGAR filings ↗
Reference price $22.25 · est. market cap ~$3.2B — last insider sale, 2026-06-01 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Clinical/early-stage biotech — oncology clinical, heavy burn ($140M), very well-funded.
Strengths
- Liquidity — current ratio 16.3 (93rd)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Chronic dilutionShare count +15%/yr over 3y (dilution, book value/share -9%)
- Net lossNet loss (net margin -162.9%)
- Cash burnNegative free cash flow (-139.9M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $343M cash & investments, ~10 quarters of runway
- Trial resultTrial topline data reported — see 8-K for outcome 8-K ↗
- Insider sellingInsider selling — 15 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$5M, last 6mo) Form 4 ↗
- Trial readout soonUpcoming trial readout ~2026-05 — PHASE1/PHASE2 · Locally Advanced Solid Tumor
- Notable holderHeld by 4 notable fund(s): FMR LLC, GOLDMAN SACHS GROUP INC, STATE STREET CORP +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-178.4%
Net margin
-162.9%
Return on equity
-29.3%
Return on assets
-25.5%
Revenue growth (QoQ)
48.3%
Current ratio
16.3×
Free cash flow
-$140M
Tangible book value
$346M
Cash & investments
$343M
Cash runway
10q
Stock comp / revenue
42.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-19 | Azelby Robert | Grant | 5.7K | — |
| 2026-06-05 | Ketchum John B | Grant | 4.0K | — |
| 2026-06-05 | Calhoun Lesley Ann | Grant | 4.0K | — |
| 2026-06-05 | Rothenberg Mace | Grant | 4.0K | — |
| 2026-06-05 | Lee Sung | Grant | 570 | — |
| 2026-06-01 | Crystal Adam | Sell | 6.1K | $22.25 |
| 2026-06-01 | Crystal Adam | Option exercise | 27K | $5.20 |
| 2026-06-01 | Crystal Adam | Sell | 21K | $23.06 |
| 2026-05-01 | Crystal Adam | Option exercise | 27K | $5.20 |
| 2026-05-01 | Crystal Adam | Sell | 26K | $21.19 |
| 2026-05-01 | Crystal Adam | Sell | 1.1K | $22.00 |
| 2026-05-01 | Gall Matthew | Grant | 40K | — |
| 2026-04-29 | Lee Sung | Grant | 12K | — |
| 2026-04-15 | Crystal Adam | Option exercise | 38K | $5.20 |
| 2026-04-15 | Crystal Adam | Sell | 38K | $25.00 |
| 2026-04-01 | Crystal Adam | Option exercise | 27K | $5.20 |
| 2026-04-01 | Crystal Adam | Sell | 27K | $21.20 |
| 2026-03-25 | Crystal Adam | Option exercise | 12K | $5.20 |
| 2026-03-25 | Crystal Adam | Sell | 12K | $20.11 |
| 2026-03-05 | Crystal Adam | Sell | 20K | $15.00 |
| 2026-02-25 | Crystal Adam | Sell | 54K | $12.77 |
| 2026-02-03 | Crystal Adam | Sell | 201 | $12.90 |
| 2026-02-03 | Beckman Daniella | Sell | 10K | $12.26 |
| 2026-02-03 | Beckman Daniella | Sell | 113 | $12.90 |
| 2026-02-03 | Crystal Adam | Sell | 18K | $12.26 |
| 2026-02-03 | Weber Barbara | Sell | 30K | $12.26 |
| 2026-02-03 | Weber Barbara | Sell | 333 | $12.90 |
| 2026-02-02 | Beckman Daniella | Grant | 44K | — |
| 2026-02-02 | Weber Barbara | Grant | 38K | — |
| 2026-02-02 | Crystal Adam | Grant | 47K | — |
| 2026-01-08 | Peters Malte | Grant | 350K | — |
| 2026-01-02 | Lee Sung | Grant | 10K | — |
| 2025-10-23 | Third Rock Ventures IV, L.P. | Sell | 477K | $10.15 |
| 2025-09-25 | Third Rock Ventures IV, L.P. | Sell | 500K | $8.02 |
| 2025-09-16 | Third Rock Ventures IV, L.P. | Sell | 364K | $7.04 |
| 2025-09-08 | Third Rock Ventures IV, L.P. | Sell | 86K | $7.04 |
| 2025-09-05 | Third Rock Ventures IV, L.P. | Sell | 643K | $7.00 |
| 2025-08-22 | Third Rock Ventures IV, L.P. | Sell | 302K | $7.00 |
| 2025-08-19 | Third Rock Ventures IV, L.P. | Sell | 1.1M | $7.01 |
| 2025-06-05 | Borisy Alexis | Grant | 6.2K | — |
| 2025-06-05 | Peters Malte | Grant | 6.2K | — |
| 2025-06-05 | Calhoun Lesley Ann | Grant | 6.2K | — |
| 2025-06-05 | Rothenberg Mace | Grant | 6.2K | — |
| 2025-06-05 | Ketchum John B | Grant | 6.2K | — |
| 2025-02-05 | Barry Douglas | Sell | 2.6K | $3.16 |
| 2025-02-05 | Crystal Adam | Sell | 6.9K | $3.16 |
| 2025-02-05 | Beckman Daniella | Sell | 3.9K | $3.16 |
| 2025-02-05 | Weber Barbara | Sell | 9.0K | $3.16 |
| 2025-02-04 | Barry Douglas | Sell | 2.8K | $2.99 |
| 2025-02-04 | Beckman Daniella | Sell | 4.3K | $2.99 |
| 2025-02-04 | Crystal Adam | Sell | 7.4K | $2.99 |
| 2025-02-04 | Weber Barbara | Sell | 9.8K | $2.99 |
| 2025-02-03 | Beckman Daniella | Grant | 26K | — |
| 2025-02-03 | Crystal Adam | Grant | 53K | — |
| 2025-02-03 | Weber Barbara | Grant | 106K | — |
| 2025-02-03 | Barry Douglas | Grant | 27K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT06922591 ↗ | Study to Evaluate the Safety, Tolerability & Efficacy of TNG462 in Combination in PDAC & NSCLC Patients PDAC, PDAC - Pancreatic Ductal Adenocarcinoma | PHASE1/PHASE2 | Recruiting | 2027-06-01 |
| NCT06810544 ↗ | Safety and Tolerability of TNG456 Alone and in Combination With Abemaciclib in Patients With Solid Tumors With MTAP Loss Non Small Cell Lung Cancer, Glioma Glioblastoma Multiforme | PHASE1/PHASE2 | Recruiting | 2027-03-31 |
| NCT05732831 ↗ | Safety and Tolerability of TNG462 in Patients With MTAP-deleted Solid Tumors Locally Advanced Solid Tumor | PHASE1/PHASE2 | Recruiting | 2026-05-01 |
| NCT05887492 ↗ | Study of TNG260 and an Anti-PD Antibody in STK11 Mutated Solid Tumors Non Small Cell Lung Cancer, Solid Tumors, Adult | PHASE1/PHASE2 | Recruiting | 2026-01-01 |
| NCT05275478 ↗ | Safety and Tolerability of TNG908 in Patients With MTAP-deleted Solid Tumors Locally Advanced Solid Tumor | PHASE1/PHASE2 | Terminated | 2025-12-30 |
| NCT06065059 ↗ | Study to Evaluate TNG348 Alone and With a PARP Inhibitor in Patients With BRCA 1/2 Mutant or HRD+ Solid Tumors Breast Cancer, Ovarian Cancer | PHASE1/PHASE2 | Terminated | 2024-05-22 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-23 | Exec/director changeExhibits | filing ↗ |
| 2026-06-10 | Material agreementExhibits | filing ↗ |
| 2026-06-08 | Reg FDOtherExhibits | filing ↗ |
| 2026-06-04 | Shareholder vote | filing ↗ |
| 2026-05-13 | ResultsExec/director changeExhibits | filing ↗ |
| 2026-05-08 | Exec/director changeExhibits | filing ↗ |
| 2026-04-15 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-03-05 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-19 | 0001193125-26-279788 ↗ |
| 8-K | 2026-06-10 | 2026-06-09 | 0001193125-26-266078 ↗ |
| 8-K | 2026-06-08 | 2026-06-08 | 0001193125-26-260679 ↗ |
| 8-K | 2026-06-04 | 2026-06-04 | 0001193125-26-257760 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0001193125-26-221677 ↗ |
| 10-Q | 2026-05-13 | 2026-03-31 | 0001193125-26-221656 ↗ |
| 8-K | 2026-05-08 | 2026-05-07 | 0001193125-26-213491 ↗ |
| 8-K | 2026-04-15 | 2026-04-10 | 0001193125-26-156127 ↗ |
| 10-K | 2026-03-05 | 2025-12-31 | 0001193125-26-092518 ↗ |
| 8-K | 2026-03-05 | 2026-03-05 | 0001193125-26-092535 ↗ |
| 8-K | 2026-01-08 | 2026-01-07 | 0001193125-26-007086 ↗ |
| 8-K | 2026-01-05 | 2026-01-02 | 0001193125-26-001495 ↗ |