One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Tango Therapeutics, Inc.
TNGX · NGM · Healthcare · Biotechnology
Current price
$23.35
52-week range
$6.69 - $34.39
Market cap
$3.94B
Balance sheet
Healthy
-19.77x Concerning
Net cash $982.00M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
2 Risks
0 rewards · 2 risks
- Risk Return on equity was -21.3% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 1.2% (peer median: 2.2%).
What this company does
Tango Therapeutics, Inc.
Tango Therapeutics is a biotechnology company working to create new medicines that precisely target specific types of cancer, such as lung and pancreatic cancer. Since its drugs are still being tested, the company doesn't yet earn money from sales and instead relies on funding from investors to pay for its research. Its future success depends entirely on whether its drugs pass clinical trials (the required process of testing treatments on people to ensure they are safe and effective) and get approved for sale.
How the company got here
Tango Therapeutics was founded in 2017 with the goal of discovering and developing a new generation of cancer therapies. The company was started with a significant initial investment from Third Rock Ventures. A key moment in its early history was a strategic collaboration with Gilead Sciences in 2020, which provided both funding and validation of its scientific approach. In 2021, Tango became a publicly traded company through a merger with a special purpose acquisition company (SPAC), giving it access to more capital to fund its research and development.
What it actually does
Tango Therapeutics is a biotechnology company that works on developing targeted cancer treatments. It focuses on an approach called "precision oncology," which means creating medicines that are tailored to the specific genetic makeup of a patient's tumor. The company uses a technology called CRISPR to identify unique vulnerabilities in cancer cells. This allows them to develop drugs that are designed to kill cancer cells while leaving healthy cells unharmed, a concept known as "synthetic lethality."
Drug Development and Collaborations
Tango Therapeutics does not yet have any products for sale and currently makes money through collaborations with larger pharmaceutical companies. These partnerships can involve upfront payments, research funding, and potential future payments based on the success of the drugs they are developing together. For example, their collaboration with Gilead Sciences is focused on discovering and developing new cancer therapies. This represents the company's primary source of revenue (money a company receives from its business activities) at this stage.
What management is betting on now
The company's main focus is on advancing its own drug candidates through clinical trials, which are research studies that test how well new medical treatments work in people. A key priority is their lead drug candidate, vopimetostat, which is being tested for the treatment of certain types of pancreatic and lung cancers. They are also developing other potential drugs for cancers with specific genetic characteristics, such as TNG456 for brain tumors. Management's strategy is to use their scientific platform to create a pipeline (a series of products in development) of targeted cancer therapies that can either be developed further on their own or in partnership with other companies.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-33.51M
FY2024 Q4
$-36.77M
FY2025 Q1
$-41.75M
FY2025 Q2
$-37.14M
FY2025 Q3
$-31.10M
FY2025 Q4
$-29.94M
FY2026 Q1
$-44.36M
FY2026 Q2
$-38.89M
Revenue
$0.00
Net income
$-55.34M
Diluted EPS
-0.37
Operating cash flow
$-38.87M
Free cash flow
$-38.89M
Fetching…
Sources
Revenue
$0.00
Net income
$-45.51M
Diluted EPS
-0.32
Operating cash flow
$-44.36M
Free cash flow
$-44.36M
Fetching…
Sources
Revenue
$0.00
Net income
$-38.75M
Diluted EPS
-0.29
Operating cash flow
$-29.72M
Free cash flow
$-29.94M
Fetching…
Sources
Revenue
$53.81M
Net income
$15.88M
Diluted EPS
0.13
Operating cash flow
$-30.95M
Free cash flow
$-31.10M
Fetching…
Sources
Revenue
$3.18M
Net income
$-38.85M
Diluted EPS
-0.35
Operating cash flow
$-36.52M
Free cash flow
$-37.14M
Fetching…
Sources
Revenue
$5.39M
Net income
$-39.88M
Diluted EPS
-0.36
Operating cash flow
$-41.70M
Free cash flow
$-41.75M
Fetching…
Sources
Revenue
$4.12M
Net income
$-37.67M
Diluted EPS
-0.33
Operating cash flow
$-36.65M
Free cash flow
$-36.77M
Fetching…
Sources
Revenue
$11.61M
Net income
$-29.17M
Diluted EPS
-0.27
Operating cash flow
$-33.39M
Free cash flow
$-33.51M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $23.35
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $982.0M - more cash than debt. Interest coverage -19.8x.
Net debt
$-982.00M
Interest coverage
-19.77x
Tango Therapeutics, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 5 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
TNGX
BASELINE
Tango Therapeutics, Inc.
Total debt $31.99M Interest coverage -19.77x This is the baseline the peer rows are being compared against.
Total debt $29.31M Interest coverage -3.49x Neither company has much profit cushion over interest right now.
Total debt $30.66M Interest coverage -11.20x Neither company has much profit cushion over interest right now.
Total debt $44.71M Interest coverage -7.91x Neither company has much profit cushion over interest right now.
Total debt $244.26M Interest coverage -108.87x Neither company has much profit cushion over interest right now.
Total debt $754.39M Interest coverage -10.04x Neither company has much profit cushion over interest right now.
What you should know
The case for and against TNGX
0 Rewards
2 Risks
Rewards
Risks
-
Return on equity was -21.3% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 1.2% (peer median: 2.2%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-13.86x
P/B
8.60x
P/S
73.16x
EV/EBITDA
-21.98x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
-148.4%
Operating margin
-253.4%
Net margin
-229.9%
ROE
-21.3%
ROA
-13.0%
Health
Liquidity and balance-sheet strength
Debt / equity
0.03x
Current ratio
50.82x
Quick ratio
49.95x
Total debt
$31.99M
Total cash
$1.01B
Growth
How the business has been compounding
Revenue TTM
$53.81M
Revenue 5Y CAGR
13.9%
EPS TTM
-0.84
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-143.90M
Free CF TTM
$-139.93M
FCF margin
-260.0%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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