Tango Therapeutics, Inc.: Q2 FY2026 earnings call

What management said about Q2 FY2026, from the documents filed with the SEC on 11 August 2026: press release. Guidance figures: 1 kept. The quarter’s numbers.

Read the filing

Key takeaways

• Quarterly net loss widened: Net loss was $55.3 million, or $0.37 per share, against $38.9 million, or $0.35 per share, a year earlier. Source
• 92% response rate in combination: Initial Phase 1/2 data reported in June showed a 92% objective response rate for vopimetostat plus daraxonrasib in MTAP-deleted, RAS-mutant pancreatic cancer. Source
• Cash reached $1.0 billion: Cash, cash equivalents and marketable securities were $1.0 billion at June 30, 2026, against $379.8 million at March 31, 2026. Management expects this to fund the current operating plan. Source
• Ocak named Chief Commercialization Officer: Fatma Ocak becomes Chief Commercialization Officer on August 17, 2026, overseeing launch readiness, medical affairs, commercial strategy and clinical and commercial integration. Source
• Shift from research to commercial readiness: Management described the company moving from a research-led organization to one positioned to bring vopimetostat to patients. Source
• Phase 3 design due second half: The company plans to finalize the design of a Phase 3 randomized-controlled trial in front-line pancreatic cancer in 2H 2026. Source
• ESMO data presentation in October: Phase 1/2 combination data are to be presented at the ESMO Congress in Madrid, October 23-27, 2026. Source

“The second quarter marked a pivotal period for Tango, with milestones that validated our PRMT5 inhibitor pipeline and reflect the progress of our maturing organization.”

Malte Peters, MD, Chief Executive Officer of Tango

Guidance

What changed from last quarter

• New guidance: Finalizing the Phase 3 trial design in 2H 2026 is listed as a milestone. The prior quarter did not list it. Source
• New guidance: Phase 1/2 combination data are now dated to the ESMO Congress, October 23-27, 2026. The prior quarter said data would come in 2026. Source
• New: Fatma Ocak was appointed Chief Commercialization Officer, effective August 17, 2026. Source
• New: Robert Azelby joined the Board in June and was appointed Chairman on August 6, 2026. Source
• New: Initial Phase 1/2 data from the vopimetostat plus daraxonrasib combination were reported in June. The prior quarter said data were anticipated in 2026. Source
• New: The company has started dialogue with regulators and Revolution Medicines on a registrational plan. The prior quarter said the registrational strategy was under review. Source
• Guidance kept: The ERAS-0015 combination study start remains 2H 2026, as in the prior quarter. Source

Results and revenue

• No collaboration revenue this quarter: Collaboration revenue was zero for the quarter, against $3.2 million a year earlier. Six-month collaboration revenue was also zero, against $8.6 million a year earlier. Source
• Quarterly net loss widened: Net loss was $55.3 million, or $0.37 per share, against $38.9 million, or $0.35 per share, a year earlier. Source
• Six-month loss per share lower: Six-month net loss was $100.9 million, or $0.68 per share, against $78.7 million, or $0.71 per share, a year earlier. Source

Vopimetostat pancreatic combination data

• 92% response rate in combination: Initial Phase 1/2 data reported in June showed a 92% objective response rate for vopimetostat plus daraxonrasib in MTAP-deleted, RAS-mutant pancreatic cancer. Source
• Six-month PFS and safety reported: The six-month progression-free survival rate was 90% in the same patient population. The company described the safety profile as generally well-tolerated. Source
• Regulatory dialogue on registrational path: Management is working internally and has started dialogue with regulators and Revolution Medicines toward a registrational plan for the combination in MTAP-deleted pancreatic cancer. Source

“our focus for the second half of the year remains on defining the registrational path for vopimetostat in front-line pancreatic cancer and providing updates from our broader pipeline.”

Malte Peters, MD, Chief Executive Officer of Tango

Operating expenses

• R&D rose on clinical programs: Research and development expenses were $37.2 million, against $32.8 million a year earlier. The rise was partly offset by portfolio prioritization. Source
• G&A rose on personnel costs: General and administrative expenses were $22.6 million, against $11.3 million a year earlier. Management attributed the increase to personnel costs, including share-based compensation. Source
• Other income rose year on year: Other income, net was $4.4 million for the quarter, against $2.1 million a year earlier. Six-month other income was $7.7 million, against $4.8 million. Source

Cash and balance sheet

• Cash reached $1.0 billion: Cash, cash equivalents and marketable securities were $1.0 billion at June 30, 2026, against $379.8 million at March 31, 2026. Management expects this to fund the current operating plan. Source
• Cash and securities split: Cash and cash equivalents were $345.6 million and marketable securities were $668.4 million, against $112.3 million and $230.9 million at December 31, 2025. Source
• Stockholders' equity rose: Total stockholders' equity was $1,024.5 million at June 30, 2026, against $346.2 million at December 31, 2025. Total liabilities were $49.3 million. Source
• More weighted shares outstanding: Weighted average shares outstanding were 149.9 million for the quarter, against 110.5 million a year earlier. Source

“With our robust balance sheet, our cash runway carries us through our planned development and commercialization preparation in pancreatic cancer, as well as ongoing work across our pipeline.”

Malte Peters, MD, Chief Executive Officer of Tango

Leadership and board changes

• Ocak named Chief Commercialization Officer: Fatma Ocak becomes Chief Commercialization Officer on August 17, 2026, overseeing launch readiness, medical affairs, commercial strategy and clinical and commercial integration. Source
• Azelby joined board, became chairman: Robert Azelby joined the Board in June, bringing more than 30 years of biopharmaceutical leadership in oncology commercialization and corporate strategy. He was appointed Chairman on August 6, 2026. Source
• Ocak's prior industry roles: Before joining Tango, Ocak was Senior Vice President and General Manager, US Oncology at BioNTech, and held senior executive roles at Novartis. Source

Strategy and registrational path

• Shift from research to commercial readiness: Management described the company moving from a research-led organization to one positioned to bring vopimetostat to patients. Source
• Phase 3 design due second half: The company plans to finalize the design of a Phase 3 randomized-controlled trial in front-line pancreatic cancer in 2H 2026. Source
• Clinical plan described as on track: Peters said progress against the clinical development plan is well on track, and the team is focused on bringing vopimetostat to patients. Source

Second-half pipeline timetable

• ESMO data presentation in October: Phase 1/2 combination data are to be presented at the ESMO Congress in Madrid, October 23-27, 2026. Source
• Lung monotherapy data later in 2026: Lung cancer monotherapy data from vopimetostat are to be disclosed in 2H 2026. The prior quarter said the update would come in 2026. Source
• TNG456 initial data in 2H: Initial TNG456 data in glioblastoma and other cancers are to be released in 2H 2026. The prior quarter said initial data would come in 2026. Source

Collaborations and partners

• Gilead deferred revenue fully recognized: All remaining Gilead deferred revenue was recognized as collaboration revenue in 2025, after the agreement was truncated and research activities concluded. Source
• Revolution Medicines combination partner: The combinations are with Revolution Medicines' RAS(ON) inhibitors, daraxonrasib or zoldonrasib. Revolution is also a collaborator on the registrational plan. Source
• Erasca combination study planned: A Phase 1/2 study of vopimetostat with ERAS-0015 from Erasca is planned to start in 2H 2026. Source

Coming up, as management said on 11 August 2026

• ESMO data presentation: Phase 1/2 combination data are to be presented at the ESMO Congress in Madrid, October 23-27, 2026. Source
• Phase 3 trial design finalized: The design of the Phase 3 randomized-controlled trial in front-line pancreatic cancer is to be finalized in 2H 2026. Source
• Lung monotherapy data disclosure: Vopimetostat lung cancer monotherapy data are to be disclosed in 2H 2026. Source
• TNG456 initial data release: Initial TNG456 data in glioblastoma and other cancers are to be released in 2H 2026. Source
• ERAS-0015 combination study start: A Phase 1/2 vopimetostat plus ERAS-0015 combination study is to be initiated in 2H 2026. Source
• Chief Commercialization Officer starts: Fatma Ocak's appointment as Chief Commercialization Officer takes effect August 17, 2026. Source

Figures management reported

Earlier plans management reported on

• On track: Peters said progress against the clinical development plan is well on track. Source
• Not stated: The prior quarter said initial Phase 1/2 combination data would come in 2026. The current quarter reports initial data released in June. Source
• Not stated: The prior quarter said initial TNG456 data would come in 2026. The current quarter gives 2H 2026. Source
• Not stated: The prior quarter said the lung monotherapy update would come in 2026. The current quarter gives 2H 2026. Source
• Not stated: The prior quarter and the current quarter both give 2H 2026 for starting the ERAS-0015 combination study. Source

Other quarters

• Q3 FY2026 earnings call
• Q1 FY2026 earnings call
• Q4 FY2025 earnings call
• Q3 FY2025 results

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.