Tango Reports Third-Quarter Loss, Plans Front-Line Vopimetostat Phase 3 for 2027

The Tip Desk · November 12, 2026 · 4 min read

Tango reported a $68.4 million net loss and zero collaboration revenue for the third quarter of 2026. Updated ESMO data showed an 82% response rate for vopimetostat plus daraxonrasib in later-line pancreatic cancer, and the company said it expects to start a global Phase 3 study in the first half of 2027.

Tango Therapeutics (TNGX), a clinical-stage biotechnology company developing PRMT5-targeted cancer therapies, reported a net loss of $68.4 million, or $0.39 a share, for the three months ended September 30, 2026, compared with net income of $15.9 million, or $0.14 a share basic and $0.13 a share diluted, a year earlier. Collaboration revenue was zero. Cash, cash equivalents and marketable securities were $977.5 million as of September 30, 2026.

The company said it intends to initiate a registrational Phase 3 study of vopimetostat plus daraxonrasib in front-line MTAP-deleted pancreatic cancer in the first half of 2027 after discussions with the FDA.

President and Chief Executive Officer Malte Peters said the company has engaged with the FDA on plans for a registrational study in the front-line setting and plans to initiate that study in the first half of next year. It also plans to engage with regulators on the possibility of seeking accelerated approval of the combination in second-line pancreatic cancer.

In October 2026, Tango reported updated Phase 1/2 data from the combination of vopimetostat with Revolution Medicines’ RAS(ON) inhibitor daraxonrasib in patients with MTAP-deleted, RAS-mutant pancreatic cancer. The combination achieved an 82% objective response rate and an 88% nine-month progression-free survival rate in efficacy-evaluable patients with second- and third-line pancreatic ductal adenocarcinoma, with median PFS not yet reached. Efficacy-evaluable patients had received their first dose at least 14 weeks before the August 20, 2026 data cutoff. As of that cutoff, the combination had a generally well-tolerated safety profile at dose level one (vopimetostat 200 mg / daraxonrasib 100 mg once daily).

Those results followed June 2026 initial data that had shown a 92% objective response rate and a 90% six-month PFS rate in MTAP-deleted, RAS-mutant pancreatic cancer.

The planned Phase 3 trial is expected to be a global, randomized study of vopimetostat 200 mg plus daraxonrasib 100 mg once daily versus standard-of-care chemotherapy, with dual primary endpoints of ORR and PFS and overall survival as a key secondary endpoint.

In November 2026, the company said enrollment had started in a Phase 1/2 study of vopimetostat with the pan-RAS molecular glue ERAS-0015 in MTAP-deleted PDAC and MTAP-deleted/RAS-mutant non-small cell lung cancer. It also said it plans to start a Phase 1/2 study of vopimetostat plus panRAS inhibitors in MTAP-wild-type pancreatic cancer in the first half of 2027, a study of about 25 patients intended to test whether the synergy seen in MTAP-deleted cancers extends to MTAP-wild-type disease.

In October 2026, Tango disclosed a strategic reprioritization of research and development to focus on PRMT5-targeted therapies. It expects to disclose vopimetostat monotherapy data in lung cancer and TNG456 data in lung cancer, glioblastoma and other cancers in January 2027.

Collaboration revenue was $0 for the three months ended September 30, 2026, versus $53.8 million a year earlier. All remaining deferred revenue from upfront and research option-extension payments under the Gilead collaboration had been recognized in the year ended December 31, 2025 after the agreement was truncated and research activities concluded in August 2025.

Research and development expenses were $48.9 million for the three months ended September 30, 2026, versus $30.8 million a year earlier. The company said the increase was primarily due to spend on the vopimetostat and TNG456 clinical programs, partially offset by decreased spend from portfolio prioritization. General and administrative expenses were $29.2 million, versus $8.9 million a year earlier, which the company attributed primarily to personnel-related costs, including share-based compensation from modifications of previously issued equity awards for former executive officers.

Cash, cash equivalents and marketable securities declined to $977.5 million as of September 30, 2026 from $1.0 billion as of June 30, 2026. The company said it expects that cash position to fund its current operating plan. Weighted-average shares outstanding were 173.9 million for the three months ended September 30, 2026, versus 111.0 million a year earlier.