BOSTON, March 6, 2026, 08:52 EST
Tango Therapeutics surged about 36% Thursday, propelled by fourth-quarter numbers and news of a fresh partnership with Erasca to study vopimetostat—the company’s lead drug—in pancreatic and lung cancer settings. Shares recently changed hands at $16.83.
The update is significant for Tango, which has its sights set on advancing vopimetostat—a PRMT5 inhibitor targeting a cancer-linked enzyme—out of early-phase trials and into a pivotal study, the usual step toward seeking approval. Tango still plans to kick off the second-line pancreatic cancer trial in 2026, after initial treatment, and says first phase 1/2 combination data should arrive before year’s end.
The partnership with Erasca takes the effort further. The plan: both companies will run trials combining vopimetostat and ERAS-0015 in MTAP-deleted tumors—pancreatic cancer and RAS-mutant non-small cell lung cancer specifically, where the MTAP gene is absent. Tango leads the phase 1/2 study, Erasca supplies its drug at no cost, and each company hangs on to its own commercial rights.
Tango now has a second RAS-targeted combo lined up with vopimetostat. The company’s phase 1/2 trial pairing the drug with Revolution Medicines’ daraxonrasib and zoldonrasib is ongoing, with enrollment described as strong and early readouts showing promising signs of efficacy.
Tango posted a fourth-quarter net loss of $38.7 million, or 29 cents per share, deeper than the $30.8 million loss, or 32 cents, reported a year ago. For the full year, net loss narrowed to $101.6 million from $130.3 million. Cash, cash equivalents and marketable securities totaled $343.1 million at Dec. 31, which the company says will keep it running through 2028.
“A clear focus on execution,” Chief Executive Malte Peters said, adding that Tango is “on track to launch” its pancreatic study this year. Erasca’s CEO Jonathan Lim noted options “remain limited” for the targeted patient group. SEC
Andrew Berens at Leerink Partners says the uptick in PRMT5-RAS combinations points to “early signals are favorable.” That development puts Tango in the mix with Erasca and Revolution Medicines—each working on their own RAS-focused programs—as the Boston biotech aims to stake out vopimetostat as the go-to PRMT5 option in this oncology niche. Investors.com
Still, it’s early days for the wager. Tango hasn’t brought any products to market yet. Initial data from its combination programs aren’t expected until 2026. The company’s annual report confirmed TNG348 was dropped in 2024 due to liver toxicity, with TNG908 discontinued later that same year. Tango also disclosed it raised $62.1 million by selling roughly 4.95 million shares through an at-the-market offering as of March 2.
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