Tango Therapeutics reports Q2 EPS (24c), consensus (34c)

Reports (TNGX) Q2 revenue $19.9M, consensus $7.42M.License revenue was $12.1M for the three and six months ended June 30 compared to $5M for both the three and six months ended June 30, . The increase is primarily due to licensing a drug discovery program to Gilead (GILD) for $12.0 M during the second quarter of 2024 “In the second quarter, we continued to advance the dose expansion portions of the TNG908 and TNG462 phase 1/2 clinical trials. We are progressing these molecules with the intent of remaining a leader in developing PRMT5 inhibitors for multiple cancers. We look forward to sharing a comprehensive clinical data update for the PRMT5 program later this year,” said Barbara Weber, M.D., President and Chief Executive Officer of Tango Therapeutics. “In addition, we continue to advance TNG260 for cancers with STK11 loss-of-function mutations and patient enrollment is ongoing in the phase 1/2 clinical trial.”