Tango Therapeutics Inc
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
TNGX$21.50+3.0%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-08-07.
0000950170-24-092274
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-06.
0000950170-24-121818
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 125 previous paragraphs and 124 current paragraphs.
94 unchanged; 24 reworded; 6 added; 5 removed; 2 previous and 0 current paragraphs rearranged.
Tables are not compared: 5 previous and 5 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (6)
Current report
In November 2024, we announced that, based on data from our ongoing Phase 1/2 clinical trial, we plan to move TNG462, a MTA-cooperative PRMT5 inhibitor, into the next stage of development. The investigational new drug (IND) application for TNG462 was cleared by the U.S. Food and Drug Administration (FDA) in the first quarter of 2023 and we announced the first patient in the Phase 1/2 clinical trial was dosed in July 2023. In the ongoing Phase 1/2 clinical trial, TNG462 has demonstrated durable clinical activity across multiple tumor types, including NSCLC and pancreatic cancer, and has a good tolerability and safety profile. We continue to evaluate TNG462 efficacy and tolerability at 200 mg, 250 mg and 300 mg daily, predominantly in NSCLC and pancreatic cancer. We plan to provide further clinical updates on TNG462 in 2025. Additionally, we plan to enroll patients in multiple combination clinical trials with TNG462 in the first half of 2025, including targeted combinations with (i) two RAS(ON) inhibitors, (RAS(ON) multi-selective inhibitor, RMC-6236, and RAS(ON) G12D-selective inhibitor RMC-9805, both from Revolution Medicines, Inc.), (ii) osimertinib (AstraZeneca), and (iii) pembrolizumab (Merck & Co., Inc.). Combinations of TNG462 and standard of care chemotherapy for NSCLC and pancreatic cancer also are being planned as potential paths to approval in the first line setting. We are initiating conversations with the FDA in preparation for multiple registrational studies.
Current report
In November 2024, we announced that we are stopping enrollment of TNG908, a brain-penetrant MTA-cooperative inhibitor of PRMT5, to resource to our other programs, TNG462 and TNG456. Data from our Phase 1/2 clinical trial demonstrated that TNG908 is clinically active and well-tolerated in non-central nervous system solid tumors (including NSCLC and pancreatic cancer). No partial responses by RANO criteria were observed in the 23 evaluable GBM patients who were treated at active doses.
Current report
We plan to enroll patients in a Phase 1/2 clinical trial for TNG456, a next-generation brain-penetrant MTA-cooperative PRMT5 inhibitor, in the first half of 2025. We plan to evaluate TNG456 as a monotherapy and in combination with the brain-penetrant CDK4/6 inhibitor, abemaciclib (Lilly), in GBM, NSCLC and selected other solid tumors. Preclinical studies suggest that TNG456 has increased selectivity and potency compared to TNG908.
Current report
Comparison of the nine months ended September 30, 2024 and 2023
Current report
General and administrative expense was $32.7 million for the nine months ended September 30, 2024 compared to $26.4 million for the nine months ended September 30, 2023. The increase of $6.3 million was primarily due to $5.5 million in personnel-related costs, including share-based compensation expense and additional headcount.
Current report
Comparison of the nine months ended September 30, 2024 and 2023
Removed paragraphs (5)
Previous report
Given the large number of patients with MTAP-deleted cancers who may benefit from a PRMT5 inhibitor, and the resulting potential business opportunity, we also developed a next-generation PRMT5 inhibitor, TNG462, with increased potency, MTAP deletion selectivity, as well as longer target coverage. TNG462 is 45 times more potent in cells with an MTAP deletion than those without and induces deep tumor regressions in preclinical models of multiple cancer types which is expected to significantly increase the therapeutic index. The clinical development path for TNG462 is similar to TNG908, evaluating safety and efficacy in multiple tumor types in a Phase 1/2 clinical trial. GBM is excluded from the clinical trial as TNG462 is not expected to cross the blood-brain barrier. The TNG462 investigational new drug (IND) application was cleared by the U.S. Food and Drug Administration (FDA) in the first quarter of 2023 and we announced the first patient in the Phase 1/2 clinical trial was dosed in July 2023. The dose expansion portion of the TNG462 Phase 1/2 clinical trial is ongoing. Two doses are being evaluated (200 mg QD and 300 mg QD) in non-small cell lung and pancreatic cancer, as well as a histology-agnostic cohort enriched for cholangiocarcinoma, mesothelioma, sarcoma and bladder cancers. Clinical data from the ongoing trial are expected in the second half of 2024.
Previous report
Comparison of the six months ended June 30, 2024 and 2023
Previous report
License Revenue
Previous report
General and administrative expense was $21.4 million for the six months ended June 30, 2024 compared to $17.2 million for the six months ended June 30, 2023. The increase of $4.2 million was primarily due to $4.0 million in personnel-related costs, including share-based compensation expense and additional headcount.
Previous report
Comparison of the six months ended June 30, 2024 and 2023
Reworded paragraphs (24)
Previous wording
Our lead program, TNG908, is an MTA-cooperative inhibitor of PRMT5 designed to work selectively in cancer cells with an MTAP deletion. MTAP-deletion occurs in approximately 10% to 15% of all human tumors including GBM, NSCLC and pancreatic cancer. In preclinical studies, TNG908 demonstrated 15-fold greater potency in MTAP-deleted cancer cells versus normal cells and robust efficacy in vitro and in vivo. Initial pharmacodynamic (PD) data from the ongoing TNG908 Phase 1/2 study, released in May 2023, provided proof-of-mechanism of MTA-cooperative PRMT5 inhibition, demonstrated by marked reduction of SDMA staining in MTAP-deleted cancer cells versus normal tissue. Pre-treatment and on-treatment biopsies demonstrated dose-dependent decreases in tumor SDMA staining with minimal or no decrease in normal tissue. The selective inhibition of PRMT5 in MTAP-deleted cancer cells is essential to enable the therapeutic index needed for efficacy. In the second quarter of 2024, we initiated the dose expansion portion of the Phase 1/2 clinical trial, opening cohorts in GBM, NSCLC and pancreatic cancer at 600 mg twice-daily (BID). Clinical data from the ongoing trial are expected in the second half of 2024.
Current wording
We are developing multiple MTA-cooperative PRMT5 inhibitors that are designed to work selectively in cancer cells with an MTAP deletion. MTAP-deletion occurs in approximately 10% to 15% of all human tumors, including NSCLC and pancreatic cancer.
Previous wording
Discovered as part of our immune evasion target discovery platform, TNG260 is a first-in-class CoREST inhibitor, which reverses the immune evasion effect of STK11 loss-of-function mutations. STK11 loss-of-function mutations are present in approximately 15% of NSCLC, 15% of cervical cancers, 10% of carcinoma of unknown primary, 5% of breast cancers and 3% of pancreatic cancers. In syngeneic models with an STK11 mutation and an intact immune system, the combination of TNG260 with an anti-PD-1 antibody resulted in sustained complete tumor regressions and the induction of immune memory against re-implantation of tumors. These preclinical data demonstrate that TNG260 in combination with an anti-PD-1 antibody is active in cancers with STK11 mutation, a setting where an anti-PD-1 antibody alone is inactive. In the first quarter of 2023, the FDA cleared the TNG260 IND and we announced the first patient in the Phase 1/2 clinical trial was dosed in July 2023. The TNG260 Phase 1/2 clinical trial is ongoing, evaluating the safety, pharmacokinetics, PD and efficacy of TNG260 in combination with pembrolizumab, with a one cycle single agent run-in phase to evaluate the safety and PK of TNG260, in patients with locally advanced or metastatic solid tumors with an STK11 loss-of-function mutation. To date, the safety, tolerability and pharmacokinetics profiles are favorable. We believe that
Current wording
Discovered as part of our immune evasion target discovery platform, TNG260 is a first-in-class CoREST inhibitor, which reverses the immune evasion effect of STK11 loss-of-function mutations. STK11 loss-of-function mutations are present in approximately 15% of NSCLC, 15% of cervical cancers, 10% of carcinoma of unknown primary, 5% of breast cancers and 3% of pancreatic cancers. In syngeneic models with an STK11 mutation and an intact immune system, the combination of TNG260 with an anti-PD-1 antibody resulted in sustained complete tumor regressions and the induction of immune memory against re-implantation of tumors. These preclinical data demonstrate that TNG260 in combination with an anti-PD-1 antibody is active in cancers with STK11 mutation, a setting where an anti-PD-1 antibody alone is inactive. In the first quarter of 2023, the FDA cleared the TNG260 IND and we announced the first patient in the Phase 1/2 clinical trial was dosed in July 2023. The TNG260 Phase 1/2 clinical trial is ongoing, evaluating the safety, pharmacokinetics, PD and efficacy of TNG260 in combination with pembrolizumab, with a one cycle single agent run-in phase to evaluate the safety and PK of TNG260, in patients with locally advanced or metastatic solid tumors with an STK11 loss-of-function mutation. To date, the safety, tolerability and pharmacokinetics profiles are favorable. Clinical data from the ongoing trial are expected in 2025. We believe that TNG260 could be among the first oncology molecules to leverage the benefits of genetically-based patient selection (STK11-mutation) with checkpoint inhibitor therapy.
Previous wording
We expect that our existing cash, cash equivalents and marketable securities on hand as of June 30, 2024 of $322.1 million will enable us to fund our operating expenses and capital expenditure requirements at least into 2027. Since inception, we have incurred significant operating losses. For the six months ended June 30, 2024 and 2023, our net losses were $63.5 million and $48.7 million, respectively. We had an accumulated deficit of $434.7 million as of June 30, 2024. We expect to continue to incur significant and increasing expenses and operating losses for the foreseeable future, as we advance our product candidates through preclinical and clinical development and seek regulatory approvals, manufacture drug product and drug supply, and maintain and expand our intellectual property portfolio. We also expect to hire additional personnel, pay for accounting, audit, legal, regulatory and consulting services, and pay costs associated with maintaining compliance with Nasdaq listing rules and the requirements of the U.S. Securities and Exchange Commission, director and officer liability insurance, investor and public relations activities and other expenses associated with operating as a public company. Our net losses may fluctuate significantly from quarter-to-quarter and year-to-year, depending on the timing of our preclinical studies, our clinical trials, and our expenditures on other research and development activities.
Current wording
We expect that our existing cash, cash equivalents and marketable securities on hand as of September 30, 2024 of $293.3 million will enable us to fund our operating expenses and capital expenditure requirements at least into the third quarter of 2026. Since inception, we have incurred significant operating losses. For the nine months ended September 30, 2024 and 2023, our net losses were $92.6 million and $71.0 million, respectively. We had an accumulated deficit of $463.9 million as of September 30, 2024. We expect to continue to incur significant and increasing expenses and operating losses for the foreseeable future, as we advance our product candidates through preclinical and clinical development and seek regulatory approvals, manufacture drug product and drug supply, and maintain and expand our intellectual property portfolio. We also expect to hire additional personnel, pay for accounting, audit, legal, regulatory and consulting services, and pay costs associated with maintaining compliance with Nasdaq listing rules and the requirements of the U.S. Securities and Exchange Commission, director and officer liability insurance, investor and public relations activities and other expenses associated with operating as a public company. Our net losses may fluctuate significantly from quarter-to-quarter and year-to-year, depending on the timing of our preclinical studies, our clinical trials, and our expenditures on other research and development activities.
Previous wording
As of June 30, 2024, $120.9 million has been recognized as collaboration revenue related to the upfront and research option-extension payments from the Gilead Agreement and the 2018 Gilead Agreement (the Gilead Agreements).
Current wording
As of September 30, 2024, $132.5 million has been recognized as collaboration revenue related to the upfront and research option-extension payments from the Gilead Agreement and the 2018 Gilead Agreement (the Gilead Agreements).
Previous wording
During the three months ended June 30, 2024 and 2023, we recognized $7.8 million and $9.6 million, respectively, and during the six months ended June 30, 2024 and 2023, we recognized $14.2 million and $15.4 million, respectively, of collaboration revenue associated with the Gilead Agreements based on performance completed during each period.
Current wording
During the three months ended September 30, 2024 and 2023, we recognized $11.6 million and $10.7 million, respectively, and during the nine months ended September 30, 2024 and 2023, we recognized $25.9 million and $26.1 million, respectively, of collaboration revenue associated with the Gilead Agreements based on performance completed during each period.
Previous wording
Our provision for income tax consists of an estimate for U.S. federal and state income taxes based on enacted rates, as adjusted for allowable credits, deductions, uncertain tax positions, changes in deferred tax assets and liabilities and changes in tax law. We recorded an insignificant provision for income taxes for each of the three and six months ended June 30, 2024 and 2023.
Current wording
Our provision for income tax consists of an estimate for U.S. federal and state income taxes based on enacted rates, as adjusted for allowable credits, deductions, uncertain tax positions, changes in deferred tax assets and liabilities and changes in tax law. We recorded an insignificant provision for income taxes for each of the three and nine months ended September 30, 2024 and 2023.
Previous wording
Collaboration revenue of $14.2 million and $15.4 million for the six months ended June 30, 2024 and 2023, respectively, was derived from the Gilead collaboration. Research costs incurred under the collaboration were lower during the six months ended June 30, 2024 which resulted in lower collaboration revenue amounts recognized.
Current wording
Collaboration revenue of $11.6 million and $10.7 million for the three months ended September 30, 2024 and 2023, respectively, was derived from the Gilead collaboration. Collaboration revenue increased due to changes to estimated costs expected to be incurred under the collaboration.
Previous wording
Research and development expense was $38.7 million for the three months ended June 30, 2024 compared to $28.7 million for the three months ended June 30, 2023. The increase of $10.0 million was primarily due to a $5.6 million increase relating to the advancement of our clinical and preclinical programs. Additionally, the increase was also due to $3.3 million in personnel-related costs, including share-based compensation expense and additional headcount to support our research and development activities.
Current wording
Research and development expense was $33.3 million for the three months ended September 30, 2024 compared to $27.1 million for the three months ended September 30, 2023. The increase of $6.1 million was primarily due to a $3.0 million increase relating to the advancement of TNG462 and our preclinical programs. Additionally, the increase was also due to $2.8 million in personnel-related costs, including share-based compensation expense and additional headcount to support our research and development activities.
Previous wording
General and administrative expense was $10.8 million for the three months ended June 30, 2024 compared to $9.2 million for the three months ended June 30, 2023. The increase of $1.6 million was primarily due to $1.9 million in personnel-related costs, including share-based compensation expense and additional headcount.
Current wording
General and administrative expense was $11.2 million for the three months ended September 30, 2024 compared to $9.2 million for the three months ended September 30, 2023. The increase of $2.0 million was primarily due to $1.5 million in personnel-related costs, including share-based compensation expense and additional headcount.
Previous wording
Interest income was $4.3 million for the six months ended June 30, 2024 compared to $2.5 million for the six months ended June 30, 2023, with the increase attributed to an increase in interest rates in 2024 as compared to 2023.
Current wording
Interest income was $1.8 million for the three months ended September 30, 2024 compared to $1.9 million for the three months ended September 30, 2023, with the decrease attributed to a decrease in marketable securities balance in 2024 as compared to 2023.
Previous wording
Other income, net was $2.0 million for the three months ended June 30, 2024 compared to other income, net of $1.2 million for the three months ended June 30, 2023, with the increase attributed to accretion on investments purchased at a discount.
Current wording
Other income, net was $2.0 million for the three months ended September 30, 2024 compared to other income, net of $1.5 million for the three months ended September 30, 2023, with the increase attributed to accretion on investments purchased at a discount.
Previous wording
The following table summarizes our results of operations for the six months ended June 30, 2024 and 2023:
Current wording
The following table summarizes our results of operations for the nine months ended September 30, 2024 and 2023:
Previous wording
Collaboration revenue of $7.8 million and $9.6 million for the three months ended June 30, 2024 and 2023, respectively, was derived from the Gilead collaboration. Research costs incurred under the collaboration were lower during the three months ended June 30, 2024, which resulted in lower collaboration revenue amounts recognized.
Current wording
Collaboration revenue of $25.9 million and $26.1 million for the nine months ended September 30, 2024 and 2023, respectively, was derived from the Gilead collaboration. Research costs incurred under the collaboration were lower during the nine months ended September 30, 2024 which resulted in lower collaboration revenue amounts recognized.
Previous wording
License revenue was $12.1 million for the three months ended June 30, 2024, compared to $5.0 million for the three months ended June 30, 2023. The increase is primarily due to licensing a program to Gilead for $12.0 million during the second quarter of 2024.
Current wording
License revenue was $12.1 million for the nine months ended September 30, 2024, compared to $5.0 million for the nine months ended September 30, 2023. The increase is primarily due to licensing a program to Gilead for $12.0 million during the second quarter of 2024 as compared to Gilead licensing a program for $5.0 million during the second quarter of 2023.
Previous wording
Research and development expense was $76.7 million for the six months ended June 30, 2024 compared to $56.7 million for the six months ended June 30, 2023. The increase of $20.0 million was primarily due to a $10.9 million increase relating to the advancement of our clinical and preclinical programs. Additionally, the increase was also due to $7.1 million in personnel-related costs, including share-based compensation expense and additional headcount to support our research and development activities.
Current wording
Research and development expense was $110.0 million for the nine months ended September 30, 2024 compared to $83.9 million for the nine months ended September 30, 2023. The increase of $26.1 million was primarily due to a $14.0 million increase relating to the advancement of our clinical and preclinical programs. Additionally, the increase was also due to $10.0 million in personnel-related costs, including share-based compensation expense and additional headcount to support our research and development activities.
Previous wording
Interest income was $2.1 million for the three months ended June 30, 2024 compared to $1.5 million for the three months ended June 30, 2023, with the increase attributed to an increase in interest rates in 2024 as compared to 2023.
Current wording
Interest income was $6.1 million for the nine months ended September 30, 2024 compared to $4.4 million for the nine months ended September 30, 2023, with the increase attributed to an increase in interest rates in 2024 as compared to 2023.
Previous wording
Other income, net was $4.2 million for the six months ended June 30, 2024 compared to other income, net of $2.4 million for the six months ended June 30, 2023, with the increase attributed to accretion on investments purchased at a discount.
Current wording
Other income, net was $6.1 million for the nine months ended September 30, 2024 compared to other income, net of $3.9 million for the nine months ended September 30, 2023, with the increase attributed to accretion on investments purchased at a discount.
Previous wording
Provision for income taxes was $0.1 million for the six months ended June 30, 2024 and $0.1 million for the six months ended June 30, 2023. The income tax provision amount for the period ended June 30, 2024 is primarily attributable to state taxes on interest income earned on marketable securities.
Current wording
Provision for income taxes was $0.2 million for the nine months ended September 30, 2024 and $0.1 million for the nine months ended September 30, 2023. The income tax provision amount for the period ended September 30, 2024 is primarily attributable to state taxes on interest income earned on marketable securities.
Previous wording
Since our inception, we have generated recurring net losses. We have not yet commercialized any product and we do not expect to generate revenue from sales of any products for several years, if at all. To date, we have funded our operations primarily through equity financings and from the proceeds received from our collaboration agreement with Gilead. Since inception, we have raised an aggregate of $166.9 million of gross proceeds from the sale of our preferred shares, $342.1 million in gross proceeds from the Business Combination and simultaneous financing transactions, $123.0 million of gross proceeds through (i) the $80.0 million private placement of common shares and pre-funded warrants to purchase common shares in August 2023 and (ii) the $43.0 million from our "at-the-market" stock offering program, and another $237.1 million through our collaboration with Gilead. As of June 30, 2024, we had cash and cash equivalents and marketable securities of $322.1 million.
Current wording
Since our inception, we have generated recurring net losses. We have not yet commercialized any product and we do not expect to generate revenue from sales of any products for several years, if at all. To date, we have funded our operations primarily through equity financings and from the proceeds received from our collaboration agreement with Gilead. Since inception, we have raised an aggregate of $166.9 million of gross proceeds from the sale of our preferred shares, $342.1 million in gross proceeds from the Business Combination and simultaneous financing transactions, $123.0 million of gross proceeds through (i) the $80.0 million private placement of common shares and pre-funded warrants to purchase common shares in August 2023 and (ii) the $43.0 million from our "at-the-market" stock offering program, and another $237.1 million through our collaboration with Gilead. As of September 30, 2024, we had cash and cash equivalents and marketable securities of $293.3 million.
Previous wording
We expect that our existing cash, cash equivalents and marketable securities on hand as of June 30, 2024 of $322.1 million will enable us to fund our operating expenses and capital expenditure requirements at least into 2027. We have based this estimate on assumptions that may prove to be wrong, and we could expend our capital resources sooner than we expect.
Current wording
We expect that our existing cash, cash equivalents and marketable securities on hand as of September 30, 2024 of $293.3 million will enable us to fund our operating expenses and capital expenditure requirements at least into the third quarter of 2026. We have based this estimate on assumptions that may prove to be wrong, and we could expend our capital resources sooner than we expect.
Previous wording
The following table summarizes our cash flows for each of the six month periods presented:
Current wording
The following table summarizes our cash flows for each of the nine month periods presented:
Previous wording
Net cash used in operating activities was $61.5 million for the six months ended June 30, 2024 compared to net cash used in operating activities of $59.4 million for the six months ended June 30, 2023. The increase in net cash used in operating activities for the six months ended June 30, 2024 was primarily due to an increase to the net loss as a result of higher operating expenses related to the advancement of our programs and personnel-related costs. The increase was partially offset by changes in operating assets and liabilities and higher non-cash expenses, including stock compensation.
Current wording
Net cash used in operating activities was $94.9 million for the nine months ended September 30, 2024 compared to net cash used in operating activities of $90.5 million for the nine months ended September 30, 2023. The increase in net cash used in operating activities for the nine months ended September 30, 2024 was primarily due to an increase to the net loss as a result of higher operating expenses related to the advancement of our programs and personnel-related costs. The increase was partially offset by changes in operating assets and liabilities and higher non-cash expenses, including stock compensation.
Previous wording
Net cash provided by investing activities was $1.5 million for the six months ended June 30, 2024 compared to net cash provided by investing activities of $64.2 million for the six months ended June 30, 2023. The change was primarily due to an increase in purchases of marketable securities as compared to the three months ended June 30, 2023, which was partially offset by an increase in sales and maturities of marketable securities as compared to the three months ended June 30, 2023.
Current wording
Net cash provided by investing activities was $34.1 million for the nine months ended September 30, 2024 compared to net cash provided by investing activities of $7.6 million for the nine months ended September 30, 2023. The change was primarily due to a decrease in purchases of marketable securities as compared to the nine months ended September 30, 2023, which was partially offset by a decrease in sales and maturities of marketable securities as compared to the nine months ended September 30, 2023.
Previous wording
Net cash provided by financing activities was $44.3 million for the six months ended June 30, 2024 compared to net cash provided by financing activities of $0.7 million for the six months ended June 30, 2023. The cash provided by financing activities for six months ended June 30, 2024 consisted of the $41.7 million in net proceeds received from our "at-the-market" stock offering program in January 2024, as well as the cash provided from the exercises of stock options and ESPP purchases. The cash provided by financing activities for the three months ended June 30, 2023 was the result of cash provided from the exercises of stock options and ESPP purchases.
Current wording
Net cash provided by financing activities was $46.7 million for the nine months ended September 30, 2024 compared to net cash provided by financing activities of $80.9 million for the nine months ended September 30, 2023. The cash provided by financing activities for the nine months ended September 30, 2024 consisted of the $41.7 million in net proceeds received from our "at-the-market" stock offering program in January 2024, as well as the cash provided from the exercises of stock options and ESPP purchases. The cash provided by financing activities for the nine months ended September 30, 2023 consisted of the net proceeds received from our private placement financing transaction in August 2023 of $79.8 million, as well as the cash provided from the exercises of stock options and ESPP purchases.
Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
TNG260 could be among the first oncology molecules to leverage the benefits of genetically-based patient selection (STK11-mutation) with checkpoint inhibitor therapy.
Previous report — wording carried elsewhere
License revenue was $12.1 million for the six months ended June 30, 2024, compared to $5.0 million for the six months ended June 30, 2023. The increase is primarily due to licensing a program to Gilead for $12.0 million during the second quarter of 2024.