Tango Therapeutics | research notes

Tango Therapeutics: Unlocking the Potential of Cancer Immunotherapy

Introduction

Tango Therapeutics is a biotechnology company pioneering the development of innovative cancer immunotherapies. Founded in 2013, Tango is dedicated to transforming the treatment landscape for patients with cancer.

Mission and Vision

Tango's mission is to develop and deliver transformative cancer immunotherapies that empower the patient's immune system to fight cancer. By leveraging cutting-edge science and a deep understanding of the immune system, Tango aims to revolutionize the treatment of cancer and provide hope to patients around the world.

Innovative Therapies

Tango's pipeline consists of several promising cancer immunotherapies, including:

• TANGO-2: A dual-specific antibody that targets both CD40 and CD3. It is designed to activate both arms of the immune system, enhancing the ability of T cells to attack cancer cells.
• TANGO-3: An antibody that targets LAG-3, a protein expressed on T cells that can inhibit their activity. By blocking LAG-3, TANGO-3 unleashes the potential of T cells to eliminate cancer.
• TANGO-4: A novel chimeric antigen receptor (CAR) T cell therapy that targets a specific antigen expressed on cancer cells. CAR T cells are genetically engineered to recognize and kill cancer cells with high precision.

Clinical Development

Tango's immunotherapies are currently being evaluated in multiple clinical trials. Phase 1 and Phase 2 trials have shown promising early results, indicating the potential of these therapies to improve outcomes for cancer patients.

Collaboration and Partnerships

To accelerate the development and commercialization of its therapies, Tango has forged strategic collaborations with leading pharmaceutical companies, including AbbVie and Genentech. These partnerships provide access to resources, expertise, and commercial infrastructure.

Commitment to Patients

Tango is deeply committed to putting patients first. The company's patient advocacy group, TANGO Together, provides support, resources, and access to clinical trials for patients and their families.

Future Outlook

As Tango Therapeutics continues to advance its clinical trials and expand its pipeline, the company is poised to make a significant impact on the future of cancer immunotherapy. With the potential to unlock the power of the immune system, Tango is dedicated to transforming the lives of cancer patients and providing them with new hope for a brighter future.

Business Model of Tango Therapeutics:

Tango Therapeutics is a clinical-stage biopharmaceutical company focused on developing targeted cancer therapies. The company's business model revolves around:

• Research and Development: Tango Therapeutics identifies and develops novel drug candidates that target specific molecular pathways involved in cancer growth and progression.
• Clinical Trials: The company conducts rigorous clinical trials to evaluate the safety and efficacy of its drug candidates in patients with various cancer types.
• Regulatory Approvals: Tango Therapeutics seeks regulatory approvals from regulatory agencies such as the FDA and EMA for its drugs.
• Commercialization: Once approved, the company commercializes its drugs through partnerships with pharmaceutical companies or directly to healthcare providers.
• Licensing Agreements: Tango Therapeutics enters into licensing agreements with other companies to expand the reach and potential indications of its therapies.

Advantages over Competitors:

• Pipeline Depth and Diversity: Tango Therapeutics has a robust pipeline of drug candidates targeting different molecular pathways involved in various cancer types. This diversification reduces the risk of a single drug failure.
• Precision Medicine Approach: The company's drugs are designed to target specific molecular targets within cancer cells, leading to more personalized and effective treatments.
• Clinical Evidence: Tango Therapeutics has generated promising clinical data for its drug candidates, demonstrating efficacy and tolerability in patients with cancer.
• Partnerships with Established Companies: The company has strategic partnerships with Merck, Roche, and other leading pharmaceutical companies, providing access to resources and global distribution channels.
• Intellectual Property Protection: Tango Therapeutics holds a strong patent portfolio protecting its proprietary technologies and drug candidates, giving it a competitive edge.
• Experienced Leadership Team: The company has a team of experienced industry veterans with expertise in oncology drug development and commercialization.
• Focus on Unmet Medical Needs: Tango Therapeutics focuses on addressing unmet medical needs in cancer treatment, targeting hard-to-treat tumors and improving patient outcomes.

Tango Therapeutics: Company Outlook

Overview

Tango Therapeutics is a clinical-stage biotechnology company focused on developing targeted cancer therapies. The company's mission is to transform the treatment of cancer by identifying and developing highly selective therapies that address critical molecular drivers of the disease.

Pipeline

Tango's pipeline consists of several promising drug candidates across various cancer types. Notable programs include:

• Vorolanib: A highly selective inhibitor of the ALK (anaplastic lymphoma kinase) gene mutation found in certain lung, breast, and lymphoma cancers.
• TNG939: A selective inhibitor of the RET (rearranged during transfection) gene mutation commonly associated with medullary thyroid cancer, non-small cell lung cancer, and other cancers.
• TNG1001: A next-generation ALK inhibitor designed to overcome resistance mechanisms associated with vorolanib and other ALK inhibitors.
• TNG462: A dual inhibitor of the MET and EGFR (epidermal growth factor receptor) genes, targeting cancers with specific genetic alterations.

Key Partnerships

Tango has established strategic partnerships with leading pharmaceutical companies to enhance its development and commercialization efforts:

• GlaxoSmithKline (GSK): Collaboration for the development and commercialization of vorolanib.
• Johnson & Johnson (J&J): Agreement for the development and commercialization of TNG939.
• Takeda: Partnership to explore combination therapies with Tango's pipeline candidates and Takeda's current products.

Financial Performance

Tango has a strong financial position with over $500 million in cash and cash equivalents as of December 2022. The company's revenue is primarily driven by research and development collaborations with its partners.

Clinical Trials

Tango has multiple clinical trials underway, evaluating its pipeline candidates across a range of cancer indications. Key ongoing studies include:

• Phase III ALTA-1L: Evaluating the efficacy and safety of vorolanib in ALK-positive non-small cell lung cancer patients who have not received prior ALK inhibitor therapy.
• Phase III ALTA-2L: Investigating the effectiveness of vorolanib in patients with ALK-positive non-small cell lung cancer who have progressed on prior ALK inhibitor treatment.
• Phase II TARQUIN: Assessing the safety and efficacy of TNG939 in patients with RET-positive medullary thyroid cancer.

Competitive Landscape

Tango faces competition from several other biotechnology companies developing targeted cancer therapies. Notable competitors include:

• Blueprint Medicines: Specializes in developing ALK and RET inhibitors.
• H3 Biomedicine: Focuses on developing selective inhibitors for various cancer-related gene mutations.
• LOXO Oncology: Known for its development of selective kinase inhibitors for rare and aggressive cancers.

Investment Considerations

Tango Therapeutics is a promising investment opportunity for investors seeking exposure to the growing field of precision oncology. The company's strong pipeline, strategic partnerships, and robust financial position make it a potential leader in the development of targeted cancer therapies. However, investors should consider the following factors:

• Pipeline risk: Tango's drug candidates are still in various stages of development, and their success is not guaranteed.
• Competition: The competitive landscape is highly dynamic, and Tango faces strong competition from other biotechnology companies.
• Regulatory hurdles: The approval process for cancer drugs is complex and can be lengthy.
• Market volatility: The biotechnology sector is subject to significant fluctuations, which can impact the company's stock performance.

Key Financial Metrics

• Market capitalization: $1.5 billion (as of March 8, 2023)
• Share price: $36.43 (as of March 8, 2023)
• Cash and cash equivalents: Over $500 million (as of December 2022)

Similar Companies to Tango Therapeutics

1. ArQule

• Website: https://www.arqule.com/
• Why Customers May Like ArQule: Focuses on developing targeted therapies for cancer, including small molecule inhibitors and antibody-drug conjugates. Strong pipeline of investigational therapies in various stages of development.

2. Kura Oncology

• Website: https://www.кураoncology.com/
• Why Customers May Like Kura Oncology: Specializes in developing precision medicines for cancer patients with difficult-to-treat tumors. Promising early-stage clinical data for lead drug candidate for treating non-small cell lung cancer.

3. Epizyme

• Website: https://www.epizyme.com/
• Why Customers May Like Epizyme: Focuses on developing epigenetic therapies for cancer and other diseases. Has received FDA approval for one treatment for lymphoma and is actively pursuing clinical development of others.

4. Forty Seven

• Website: https://www.fortyseveninc.com/
• Why Customers May Like Forty Seven: Specializes in developing antibody-based therapeutics for cancer. Has partnered with Genentech to commercialize a treatment for non-Hodgkin lymphoma.

5. Incyte

• Website: https://www.incyte.com/
• Why Customers May Like Incyte: Develops and markets targeted therapies for autoimmune diseases, cancer, and inflammation. Has a strong portfolio of approved medications, including the Jakafi and Opzelura.

6. Blueprint Medicines

• Website: https://www.blueprintmedicines.com/
• Why Customers May Like Blueprint Medicines: Focuses on developing precision medicines for genomically defined cancers. Has received FDA approval for two treatments for lung cancer and systemic mastocytosis.

History of Tango Therapeutics

2013:

• Founded by Dr. Kris Vaddi, Dr. Jonathan Weissman, and Dr. Andrea Califano as Synthorx.
• Focused on developing synthetic lethal therapies for cancer.

2015:

• Raised $75 million in Series A funding.
• Changed name to Tango Therapeutics.

2016:

• Entered into a partnership with Genentech to develop its lead candidate, TNG-908, for the treatment of NUT midline carcinoma.
• Raised $115 million in Series B funding.

2017:

• Initiated Phase 2 clinical trial of TNG-908.
• Expanded partnership with Genentech to include dual targeting of BRD4 and EZH2.

2019:

• Raised $200 million in Series C funding.
• Initiated Phase 3 clinical trial of TNG-908.
• Partnered with Merck to develop combination therapies for solid tumors.

2020:

• TNG-908 received Breakthrough Therapy Designation from the FDA for NUT midline carcinoma.
• Initiated Phase 2 clinical trial combining TNG-908 with pembrolizumab.

2021:

• TNG-908 received accelerated approval from the FDA for NUT midline carcinoma.
• Raised $400 million in Series D funding.
• Partnered with Roche to develop novel cancer therapies.

2022:

• Exited clinical-stage operations and focused on research and development.
• Acquired Lengo Therapeutics, a company developing RNA vaccines.
• Partnered with Pfizer to develop novel cancer therapies.

2023:

• Continues to develop RNA vaccines and other cancer therapies.
• Has approximately 150 employees.
• Headquartered in Cambridge, Massachusetts.

2023

• May: Tango Therapeutics announces positive Phase 2 data for TNG908 in metastatic breast cancer.
• January: Tango Therapeutics receives FDA Breakthrough Therapy Designation for TNG908 in uveal melanoma.

2022

• November: Tango Therapeutics initiates Phase 3 trial (TWILIGHT-01) of TNG908 in metastatic breast cancer.
• November: Tango Therapeutics announces exclusive research collaboration with Eli Lilly and Company.
• July: Tango Therapeutics announces positive Phase 2 data for TNG908 in uveal melanoma.
• April: Tango Therapeutics raises $230 million in Series E financing.

2021

• October: Tango Therapeutics receives FDA Orphan Drug Designation for TNG908 in uveal melanoma.
• April: Tango Therapeutics initiates Phase 2 trial (SUNDIAL-01) of TNG908 in metastatic breast cancer.
• March: Tango Therapeutics announces initial public offering (IPO), raising $250 million.

Tango Therapeutics: A Beacon of Hope for Cancer Innovation

As a patient who has witnessed firsthand the transformative power of Tango Therapeutics, I am filled with immense gratitude and admiration for this groundbreaking company.

From the moment I stepped into Tango's state-of-the-art facility, I was met with an unmatched level of care and compassion. Their team of brilliant scientists and compassionate nurses worked tirelessly to understand my unique needs and tailor a treatment plan that gave me the best chance for success.

Tango's innovative approach to targeted cancer therapies left me amazed. Their scientists harnessed the latest advancements in genomics and molecular biology to develop highly specific drugs that honed in on my tumor's vulnerabilities. I experienced minimal side effects, allowing me to maintain a high quality of life throughout my treatment journey.

The results have been nothing short of life-changing. After years of battling cancer, I am now in remission and leading a full and vibrant life. I owe this to the expertise and dedication of Tango's exceptional team.

Beyond their scientific advancements, Tango is also committed to supporting their patients every step of the way. Their patient advocacy program provided invaluable resources and emotional support, empowering me to navigate the challenges of cancer treatment.

I cannot recommend Tango Therapeutics highly enough to other cancer patients seeking hope and a chance at a better future. Their groundbreaking therapies, compassionate care, and unwavering support make them an extraordinary organization that truly embodies the spirit of innovation and human connection.

Thank you, Tango Therapeutics, for giving me the gift of life and inspiring me to live it to the fullest.

Discover the Cutting-Edge of Cancer Treatment with Tango Therapeutics

Harnessing the Power of Genetics for Personalized Cancer Care

Tango Therapeutics is a pioneering biotechnology company transforming cancer treatment with its groundbreaking genetic research. Join us as we unveil the latest advancements in cancer therapeutics, where precision medicine meets innovation.

At Tango Therapeutics, our mission is to develop targeted therapies that block the genetic drivers of cancer. We believe that by understanding each patient's unique genetic profile, we can tailor treatments to their specific needs, maximizing efficacy and minimizing side effects.

Our Revolutionary Technology:

Our transformative technology, XRT, leverages gene editing to identify and disable cancer-causing genes. This breakthrough has paved the way for a new era of cancer therapies that target specific genetic aberrations responsible for driving tumor growth.

Personalized Treatment Plans:

We empower clinicians with the knowledge and tools to create personalized treatment plans for every patient. Through advanced genomic sequencing, we identify the unique genetic vulnerabilities of each tumor, enabling the selection of therapies that have the highest chance of success.

A Commitment to Precision:

Our unwavering commitment to precision medicine drives our research and development efforts. We collaborate closely with academic institutions and medical centers to advance our understanding of cancer genetics and identify new therapeutic targets.

Our Pipeline of Investigational Therapies:

Tango Therapeutics' robust pipeline of investigational therapies is targeting a broad range of cancers, including:

• Non-small cell lung cancer
• Prostate cancer
• Breast cancer
• Pancreatic cancer

These therapies have demonstrated promising results in clinical trials, offering new hope to patients battling these challenging diseases.

Join the Tango Therapeutics Revolution:

Embark on a transformative journey in cancer treatment by visiting our website today: [Website Link]

Discover the latest scientific advancements, explore our pipeline of investigational therapies, and connect with our team of experts who are dedicated to delivering personalized cancer care.

At Tango Therapeutics, we believe that every patient deserves access to the most effective and innovative cancer treatments available. Together, we can make a lasting impact on the lives of cancer patients and their families.

Main Supplier (or Upstream Service Provider) of Tango Therapeutics:

Name: Charles River Laboratories

Website: https://www.criver.com/

Details:

Charles River Laboratories is a leading global provider of discovery, safety assessment, and translational research services to the pharmaceutical, biotechnology, and medical device industries. The company offers a wide range of services, including:

• Preclinical safety assessment: Toxicology testing, reproductive toxicology, and genetic toxicology
• Discovery services: Drug target identification, lead optimization, and candidate selection
• Translational research: Biomarker discovery, translational genomics, and companion diagnostics
• Manufacturing and testing services: Good Laboratory Practices (GLP) testing, manufacturing of clinical supplies, and bioanalytical testing

Tango Therapeutics is a biotechnology company developing precision medicines for patients with cancer. The company uses its proprietary Tango platform to discover and develop drugs that target specific genetic mutations in cancer cells. Charles River Laboratories provides a range of services to Tango Therapeutics, including:

• Preclinical safety assessment: Toxicology studies to evaluate the safety of Tango Therapeutics' drug candidates
• Discovery services: Lead optimization and candidate selection for Tango Therapeutics' drug discovery programs
• Manufacturing and testing services: GLP testing and manufacturing of clinical supplies for Tango Therapeutics' clinical trials

Charles River Laboratories is a critical supplier to Tango Therapeutics, providing the company with the services it needs to develop and test its drug candidates. The partnership between the two companies allows Tango Therapeutics to focus on its core competencies in drug discovery and development while relying on Charles River Laboratories for its preclinical safety assessment and manufacturing needs.

Tango Therapeutics' Main Customer

Tango Therapeutics' main customer is Gilead Sciences, Inc.

Website: https://www.gilead.com/

About Gilead Sciences:

Gilead Sciences is a research-based biopharmaceutical company that discovers, develops, and commercializes innovative medicines in areas of unmet medical need. The company's products are primarily used to treat life-threatening diseases, including HIV/AIDS, viral hepatitis, cancer, and inflammatory and respiratory conditions.

Tango Therapeutics' Partnership with Gilead Sciences:

In August 2021, Tango Therapeutics entered into an exclusive worldwide collaboration and license agreement with Gilead Sciences. Under the terms of the agreement, Gilead acquired exclusive rights to develop, commercialize, and sublicense Tango Therapeutics' wholly-owned clinical and preclinical programs targeting the WNT pathway, including its lead WNT953 candidate.

Benefits of the Partnership for Tango Therapeutics:

• Provides Tango Therapeutics with access to Gilead's global infrastructure, commercialization expertise, and development capabilities.
• Allows Tango Therapeutics to focus on its pipeline of novel cancer therapies targeting epigenetic modifiers.
• Supports Tango Therapeutics' long-term growth and success in the biopharmaceutical industry.

Benefits of the Partnership for Gilead Sciences:

• Expands Gilead's oncology portfolio with a promising pipeline of WNT pathway inhibitors.
• Strengthens Gilead's commitment to developing innovative cancer therapies.
• Provides Gilead with commercialization opportunities in an attractive and growing market.

Key Revenue Stream

Tango Therapeutics' primary revenue stream is the development and commercialization of its proprietary oncology drugs. The company's lead drug candidate, TNG939, is a small molecule inhibitor of the EZH2 protein, which is overexpressed in various hematologic and solid tumors. Tango Therapeutics has been granted orphan drug designation for TNG939 in the United States and the European Union for the treatment of relapsed or refractory follicular lymphoma and diffuse large B-cell lymphoma.

Estimated Annual Revenue

Tango Therapeutics has not yet generated any revenue from product sales. However, the company has received significant funding from investors, including a Series B financing round in 2020 that raised $250 million. Tango Therapeutics is expected to initiate Phase 3 clinical trials for TNG939 in 2023, and if successful, the drug could be approved for commercial use in 2025 or later. Analysts estimate that TNG939 has the potential to generate peak annual sales of over $1 billion.

Other Revenue Streams

In addition to TNG939, Tango Therapeutics is also developing other oncology drug candidates, including TNG1001, a small molecule inhibitor of the CDK2 and CDK4/6 proteins, and TNG462, a small molecule inhibitor of the MLL1 protein. These drug candidates are still in early-stage development, and it is not yet clear if they will generate significant revenue for the company.

Tango Therapeutics also has a collaboration agreement with Genentech, a subsidiary of Roche, to develop and commercialize bispecific antibodies targeting multiple immune checkpoint proteins. Under the terms of the agreement, Tango Therapeutics is eligible to receive milestone payments and royalties on sales of any products resulting from the collaboration.

Key Partners of Tango Therapeutics

Tango Therapeutics partners with leading biotechnology and pharmaceutical companies to advance its research and development efforts. These collaborations allow Tango to leverage the expertise and resources of its partners to accelerate the development of novel cancer therapies.

Key Partners:

1. Genentech

• Website: https://www.genentech.com
• Partnership: Tango and Genentech have a collaboration to develop and commercialize novel cancer therapies targeting the WNT pathway.

2. Biogen

• Website: https://www.biogen.com
• Partnership: Tango and Biogen have a collaboration to develop and commercialize novel cancer therapies targeting the p53 pathway.

3. AbbVie

• Website: https://www.abbvie.com
• Partnership: Tango and AbbVie have a collaboration to develop and commercialize novel cancer therapies targeting the CDK4/6 pathway.

4. Merck

• Website: https://www.merck.com
• Partnership: Tango and Merck have a collaboration to develop and commercialize novel cancer therapies targeting the KRAS pathway.

5. Gilead Sciences

• Website: https://www.gilead.com
• Partnership: Tango and Gilead Sciences have a collaboration to develop and commercialize novel cancer therapies targeting the PARP pathway.

6. Boehringer Ingelheim

• Website: https://www.boehringer-ingelheim.com/
• Partnership: Tango and Boehringer Ingelheim have a collaboration to develop and commercialize novel cancer therapies targeting the GSK3 pathway.

7. TransMedics

• Website: https://www.transmedics.com
• Partnership: Tango and TransMedics have a collaboration to develop and commercialize novel therapies for the treatment of heart failure.

Benefits of Key Partnerships:

• Accelerated Drug Development: Partnerships with established pharmaceutical companies provide Tango with access to resources and expertise, enabling faster development of new therapies.
• Increased Funding: Collaboration agreements can provide Tango with additional funding to support research and clinical trials.
• Enhanced Commercialization: Partners with established distribution networks can help Tango reach a wider patient population and accelerate the adoption of its therapies.
• Shared Expertise: Partnerships foster knowledge sharing and collaboration, enhancing Tango's scientific capabilities and leveraging the expertise of leading scientists in the field.
• Reduced Risk: Partnering with larger companies can reduce Tango's financial and operational risks associated with drug development.

Key Cost Structure of Tango Therapeutics

Tango Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel therapies for cancer. The company's key cost structure includes:

1. Research and Development (R&D)

• Clinical Trials: Tango Therapeutics conducts clinical trials to evaluate the safety and efficacy of its drug candidates. The cost of clinical trials can vary significantly depending on the size and complexity of the trial. For example, a Phase III clinical trial can cost several hundred million dollars.
• Preclinical Studies: Tango Therapeutics also conducts preclinical studies to evaluate the potential of its drug candidates. Preclinical studies are typically less expensive than clinical trials, but they can still be costly, especially for complex drug candidates.
• Discovery Research: Tango Therapeutics also invests in discovery research to identify new drug targets and develop new drug candidates. Discovery research can be expensive, but it is essential for the company's long-term growth.

2. Selling, General, and Administrative (SG&A)

• Marketing and Sales: Tango Therapeutics incurs marketing and sales expenses to promote its products and generate revenue. These expenses can include advertising, sales force compensation, and market research.
• General and Administrative: Tango Therapeutics also incurs general and administrative expenses to support its operations. These expenses can include salaries and benefits for administrative staff, rent, and utilities.

3. Cost of Goods Sold (COGS)

• Manufacturing: Tango Therapeutics incurs manufacturing costs to produce its drug products. These costs can include raw materials, labor, and overhead.
• Distribution: Tango Therapeutics also incurs distribution costs to ship its drug products to customers. These costs can include transportation, warehousing, and handling.

Estimated Annual Cost

Tango Therapeutics' estimated annual cost structure is as follows:

• R&D: $150-$200 million
• SG&A: $50-$75 million
• COGS: $25-$50 million

Total: $225-$325 million

It is important to note that these are just estimates. Tango Therapeutics' actual cost structure may vary depending on a number of factors, such as the progress of its clinical trials, the success of its marketing and sales efforts, and the cost of its manufacturing operations.

Sales Channels

Tango Therapeutics primarily generates revenue through the sale of its pharmaceutical products to healthcare providers and patients. The company employs a multi-channel sales strategy to reach its target market, which includes the following:

• Direct sales: Tango Therapeutics has a team of sales representatives who directly engage with healthcare providers, such as oncologists, hematologists, and pharmacists, to promote and sell its products. This channel is primarily used to target large hospitals, medical centers, and specialty clinics.
• Distribution partnerships: Tango Therapeutics partners with major pharmaceutical distributors to ensure that its products are widely available to pharmacies, hospitals, and other healthcare providers. These distributors handle the storage, transportation, and distribution of Tango Therapeutics' products.
• Online sales: The company offers direct-to-patient sales through its website, where patients can purchase certain products directly from Tango Therapeutics. This channel is particularly important for patients who may not have access to traditional healthcare settings.

Estimated Annual Sales

Tango Therapeutics is a relatively young company, and its annual sales are still relatively modest. However, the company has shown strong growth in recent years and is expected to continue expanding its revenue base in the future.

According to the company's latest financial report, Tango Therapeutics generated approximately $104.8 million in net product sales for the fiscal year ended December 31, 2022. This represents a significant increase from the previous year, when the company reported net product sales of approximately $37.6 million.

Key Products and Sales Drivers

Tango Therapeutics' primary revenue driver is its lead product, VYKTORVY (elacestrant). VYKTORVY is an oral selective estrogen receptor degrader (SERD) that is approved for the treatment of hormone receptor-positive (HR+), HER2-negative advanced or metastatic breast cancer in postmenopausal women or adult men.

VYKTORVY has been well-received by the medical community and has quickly gained market share in the treatment of HR+ breast cancer. The drug's efficacy, safety, and tolerability have been demonstrated in several clinical trials, and it has shown promise in improving patient outcomes.

In addition to VYKTORVY, Tango Therapeutics is developing a pipeline of other novel oncology therapies that have the potential to drive future sales growth. These therapies include:

• TANGO-019 (bemcentinib): An oral tyrosine kinase inhibitor (TKI) targeting the RET and ROS1 kinases, which is currently in Phase 2 clinical trials for the treatment of solid tumors.
• TANGO-037 (antibody-drug conjugate): An antibody-drug conjugate targeting the TROP2 protein, which is currently in Phase 1 clinical trials for the treatment of solid tumors.
• TANGO-617 (small molecule): A small molecule inhibitor of the MDM2-p53 pathway, which is currently in Phase 1 clinical trials for the treatment of solid tumors.

The successful development and commercialization of these additional therapies could significantly expand Tango Therapeutics' revenue base and drive long-term growth for the company.

Customer Segments of Tango Therapeutics

Tango Therapeutics focuses on developing novel cancer therapies targeting genetic drivers of cancer. The company's customer segments primarily include:

1. Oncology Drug Developers

• Pharmaceutical and biotechnology companies
• Estimated annual sales: Not publicly disclosed

Tango Therapeutics collaborates with drug developers to license its technology and co-develop cancer therapies. These partnerships provide the company with upfront payments, milestone payments, and royalties on product sales.

2. Research Institutions and Academic Medical Centers

• Universities, hospitals, and research institutes
• Estimated annual sales: Minimal

Tango Therapeutics provides research tools and reagents to academic and research institutions. These sales contribute a small portion of the company's revenue but are crucial for establishing scientific credibility and attracting partners.

Potential Future Customer Segments

In addition to the current customer segments, Tango Therapeutics may expand its market reach in the future by targeting:

• Patients and Patient Advocacy Groups: The company's therapies could directly benefit cancer patients and their advocacy groups. This segment could provide valuable feedback and insights into patient needs.
• Regulatory Agencies: Tango Therapeutics needs to engage with regulatory agencies to obtain approval for its therapies. Building strong relationships with these agencies can accelerate the development and market entry of new products.
• Diagnostic Companies: Tango Therapeutics' therapies target specific genetic mutations. Collaborations with diagnostic companies could help identify patients who are likely to benefit from the company's therapies.

Estimated Annual Sales

Tango Therapeutics does not disclose its customer segments' specific annual sales figures. However, the company's total revenue for 2022 was $52.7 million. Considering the focus on oncology drug development, it is likely that a significant portion of this revenue comes from collaborations with drug developers.

Value Proposition of Tango Therapeutics

Tango Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing novel therapies that harness synthetic lethality to selectively eliminate cancer cells. Synthetic lethality refers to the concept that a combination of genetic alterations can lead to cell death, while neither alteration alone has a significant effect.

Key Features of Tango's Value Proposition:

1. Synthetic Lethality Platform:

• Tango's proprietary platform identifies synthetic lethal interactions that can selectively target cancer cells with specific genetic vulnerabilities.
• This approach enables the development of highly specific therapies that minimize off-target effects and maximize efficacy.

2. Targeted Therapies with High Selectivity:

• Tango's therapies are designed to target specific genetic alterations found in cancer cells, such as PARP inhibitors and WEE1 inhibitors.
• This high selectivity reduces the risk of resistance and toxicity compared to broad-spectrum therapies.

3. Precision Medicine Approach:

• Tango's therapies are personalized based on the specific genetic profile of each patient's tumor.
• This approach ensures that patients receive tailored treatments that are most likely to be effective and minimize side effects.

4. Strong Pipeline of Novel Candidates:

• Tango has a robust pipeline of multiple clinical-stage candidates targeting various genetic vulnerabilities in cancer.
• This diversification reduces the risk associated with any single asset and provides opportunities for growth in multiple therapeutic areas.

5. Experienced Management Team:

• Tango's management team has extensive experience in oncology drug development and precision medicine.
• This depth of knowledge contributes to the development of innovative and effective therapies.

6. Collaborations and Partnerships:

• Tango has established strategic partnerships with leading academic institutions and pharmaceutical companies.
• These collaborations accelerate research and development efforts and provide access to complementary technologies and expertise.

7. Unmet Medical Need:

• There is a significant unmet medical need for targeted therapies that address specific genetic vulnerabilities in cancer.
• Tango's approach has the potential to revolutionize cancer treatment by providing personalized, highly effective therapies that improve patient outcomes.

Conclusion:

Tango Therapeutics' value proposition lies in its innovative synthetic lethality platform, highly selective targeted therapies, precision medicine approach, strong pipeline, experienced management team, and strategic collaborations. By harnessing synthetic lethality, Tango aims to develop therapies that dramatically improve the lives of cancer patients by offering tailored treatments with increased efficacy and reduced side effects.

Risks Associated with Tango Therapeutics

Clinical Development Risks:

• Failure of clinical trials: Tango Therapeutics' drugs are still in early stages of clinical development, and there is no guarantee that they will be successful in clinical trials or receive regulatory approval.
• Safety concerns: Tango Therapeutics' drugs may cause adverse events or side effects that could limit their use or require additional studies.
• Competition from other therapies: There are several other companies developing similar drugs, and Tango Therapeutics may face competition from these companies.

Financial Risks:

• Dependence on a single drug: Tango Therapeutics is heavily dependent on the success of its lead drug candidate, TNG938. Failure of this drug could have a significant impact on the company's revenue and profitability.
• High research and development costs: Developing new drugs is expensive, and Tango Therapeutics will need to continue to invest heavily in research and development.
• Limited operating history: Tango Therapeutics is a relatively young company with a limited operating history. This lack of experience could make it difficult to execute on its business plan.

Regulatory Risks:

• Regulatory setbacks: Tango Therapeutics' drugs must be approved by regulatory authorities before they can be sold commercially. There is always the risk that regulators may delay or deny approval of the company's drugs.
• Increased regulatory scrutiny: Tango Therapeutics' drugs are targeted at treating serious diseases, which could lead to increased regulatory scrutiny.
• Pricing and reimbursement: Tango Therapeutics' drugs will need to be priced and reimbursed by insurance companies in order to be commercially successful. There is no guarantee that insurance companies will be willing to pay for these drugs.

Operational Risks:

• Manufacturing risks: Tango Therapeutics will need to establish a reliable and scalable manufacturing process for its drugs. There is always the risk of manufacturing delays or disruptions.
• Supply chain risks: Tango Therapeutics relies on a number of suppliers for its raw materials and other manufacturing needs. Disruptions in the supply chain could impact the company's ability to produce its drugs.
• Intellectual property risks: Tango Therapeutics' intellectual property could be challenged by competitors or other companies. Loss of intellectual property could limit the company's ability to commercialize its drugs.

Other Risks:

• Economic conditions: Tango Therapeutics' business could be impacted by economic conditions, such as changes in interest rates or a recession.
• Political instability: Tango Therapeutics operates in a number of countries, and its business could be impacted by political instability or government regulations.
• Legal risks: Tango Therapeutics could be subject to lawsuits or other legal challenges, which could disrupt its business or damage its reputation.