What was Tango Therapeutics' net loss in Q1 2026?

The net loss was $45.51 million.

Why did TNGX stock fall 10.7%?

The stock fell due to the end of the Gilead collaboration with no revenue, ongoing losses, and the pipeline pivot.

How much cash does Tango have?

The company has approximately $380 million in cash, enough to fund operations into 2028.

What board changes did Tango announce?

Alexis Borisy and Kanishka Pothula resigned, and Sung Lee was appointed Lead Independent Director.

What is Tango's new pipeline focus?

The company will focus on MTAP-deleted selective PRMT5 programs in oncology.

Tango Therapeutics Posts $45.5M Q1 Loss, Pivots Pipeline After Gilead Deal Ends

Tango Therapeutics (TNGX) reported Q1 2026 results with a net loss of $45.51 million and no collaboration revenue after its Gilead research term ended. The company also announced board resignations and a pipeline pivot toward MTAP-deleted PRMT5 programs. The stock fell 10.7% on the news.

Tango Therapeutics (TNGX) reported its first-quarter 2026 financial results, posting a net loss of $45.51 million and zero collaboration revenue after its research partnership with Gilead Sciences (GILD) ended. The company also disclosed board changes and a strategic refocusing of its oncology pipeline. Shares fell 10.7% following the announcement.

Key Financial Results

Metric	Value
Net Loss (Q1 2026)	$45.51 million
Collaboration Revenue	$0 (Gilead partnership ended)
Cash & Equivalents	~$380 million
Cash Runway	Into 2028

Key Highlights

Gilead Collaboration Ends: No revenue was recorded from the Gilead-funded research term, which has concluded.
Board Changes: Directors Alexis Borisy and Kanishka Pothula resigned; Sung Lee was appointed Lead Independent Director.
Pipeline Pivot: The company will prioritize its MTAP-deleted selective PRMT5 programs in oncology.

Guidance

Tango did not provide specific numeric guidance but stated that its current cash balance of approximately $380 million is expected to fund operations into 2028.

Stock Impact

TNGX shares fell 10.7% after the announcement, reflecting investor concerns over the end of the Gilead collaboration and ongoing losses, despite the pipeline pivot.

What This Means for Investors

Tango has a cash runway into 2028, giving it time to execute its new strategy. However, the lack of collaboration revenue and reliance on internal programs make it a high-risk bet in the competitive oncology space.