TNGX - Tango Therapeutics: Making Its Way Into Clinic With 4 Innovative Cancer Drugs
2024-01-25 12:46:04 ET
Summary
- Tango Therapeutics, a biotech company focused on synthetic lethality and PRMT5 inhibition, has two PRMT5 inhibitors in clinical development.
- Tango's shares spiked after positive data from Mirati Therapeutics' PRMT5 inhibitor, highlighting the potential of the drug class.
- Tango's candidates TNG908 and TNG462 have delivered some promising preclinical data, and TNG908 will read out Phase 1/2 data this year - a potentially significant catalyst.
- Besides its PRMT5 drugs, Tango has 2 other clinical stage assets that it plans to partner with PARP inhibitors, and PD-1 blockers i.e. Merck's keytruda.
- There is a lot of risk to consider here - but I find the company's progress to date encouraging and there are funds available until 2026. PRMT5 inhibition and synthetic lethality are buzzwords the market likes - clinical proof of concept could send Tango stock soaring.
Mirati's Success With PRMT5 Inhibitor Puts Spotlight On Tango
Back in October last year I posted a note on Seeking Alpha related to Bristol-Myers Squibb ( BMY ) and its decision to complete the acquisition of Mirati Therapeutics ( MRTX ) in a deal worth $58 per share, for a total equity value of $4.8bn. The deal completed this week, with Mirati becoming a wholly owned subsidiary of Bristol Myers Squibb.
Mirati - which has been in the news this week for other, more unexpected reasons, named as one of the companies being traded in an alleged insider trading case involving British billionaire investor Joe Lewis - is a drug developer focused on oncology that secured approval for a drug, Krazati, targeting the Kirsten rat sarcoma virus, or KRAS, in late 2022 - a feat widely admired as KRAS, found be mutated in a host of solid tumor cancers, had long been considered undruggable....
Tango Therapeutics: Making Its Way Into Clinic With 4 Innovative Cancer Drugs