Published on 20 Mar 2024 on GuruFocus.com via Yahoo Finance
Tango Therapeutics Inc (TNGX) Reports Full Year and Q4 2023 Financial Results
Financial Position: Tango Therapeutics Inc (NASDAQ:TNGX) ended 2023 with a robust cash position of $337 million, expected to fund operations into late 2026.Revenue: Collaboration revenue for Q4 2023 was $5.4 million, down from $6.4 million in Q4 2022, with full-year revenue increasing to $31.5 million from $24.9 million year-over-year.Net Loss: Q4 2023 net loss was $30.8 million, or $0.32 per share, an improvement from a net loss of $29.1 million, or $0.33 per share, in Q4 2022.R&D Expenses: Research and development expenses increased to $31.3 million in Q4 2023, up from $29.1 million in the same period last year.Operational Milestones: Tango Therapeutics Inc (NASDAQ:TNGX) dosed the first patient in the phase 1/2 clinical trial for TNG348 and received FDA Orphan Drug Designation for TNG462.
Warning! GuruFocus has detected 3 Warning Sign with TNGX.
