Q1 Financials; RAS-Combo Data Ahead Later this Year

研报英文原文证据摘录

Q1 Financials; RAS-Combo Data Ahead Later this Year

Company Report

May 14, 2026 Tango Therapeutics, Inc (TNGX)

Rating: Q1 Financials; RAS-Combo Data Ahead Later this YearOUTPERFORM

Price:

$25.51 The Wedbush View

12-Month Price Target:

$33.00 (from $19.00) TNGX reported first quarter financials and provided corporate updates. Notably,

TNGX plans on reporting initial Ph 1/2 data combining vopimetostat with RVMD’s

Analysts daraxonrasib (pan-KRAS inhibitor) and zoldonrasib (G12D selective inhibitor) in 2L+

Robert Driscoll, Ph.D. patients with PDAC or NSCLC in 2026; to date, TNGX noted the combinations have

(415) 274-6863 been well tolerated, with encouraging signals of efficacy. For context, daraxonrasib

Robert.Driscoll@wedbush.com resulted in a 35% ORR, alongside an mPFS of 8.5 months in 2L+ mPDAC in the pivotal

Geoffrey Von Der Ahe RASolute302 trial (see our RVMD note, here) – TNGX has indicated expectations

(628) 223-0517 for meaningfully higher efficacy given orthogonal mechanisms. While RVMD is alsogeoffrey.vonderahe@wedbush.com

collaborating with BMS’s BMS-986504, we see an early advantage for vopi given

likelihood of a robust dataset in 2026 for the vopi combination as well as potentially

Company Information improved combinability alongside RAS inhibitors. The company plans to meet with

Market Cap (M) $3,390 FDA to provide an update on registrational path alongside the data. TNGX also

Enterprise Value (M) $3,499 plans on initiating a Ph 1/2 trial combining vopi + Erasca’s ERAS-0015 (pan-RASShares Outst (M) 143.6

52-Week Range $1.25 - $28.41 glue degrader) in 2H:26; we believe partnerships with both ERAS and RVMD should

Cash/sh $2.65 provide greater flexibility for TNGX to investigate PRMT5/RAS targeting across

multiple indications.