Tango Therapeutics Inc
TNGXHealthcare|Biotechnology|USA
$31.06
+0.52 (+1.71%)
Tangible Book
$2.72
Financials
Financial Snapshot
Market Cap
$5.06B
Enterprise Value
$347.1M
Revenue (TTM)
$57.0M
Net Income (TTM)
$-107.2M
Cash & Equivalents
—
Net Cash/Share
$2.33
Free Cash Flow (TTM)
$-142.5M
Operating CF (TTM)
$-141.5M
Debt/Equity
0.08
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$35.4M
Monthly Burn
$11.8M
Est. Runway
—
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $190.3M | $485.3M | $366.1M | $336.9M | $257.9M | $343.1M | $379.8M | |
| Operating Cash Flow | $70.1M | $-59.5M | $-109.1M | $-118.0M | $-131.5M | $-138.9M | $-141.5M | |
| Free Cash Flow | $69.0M | $-61.4M | $-116.8M | $-119.5M | $-132.3M | $-139.9M | $-142.5M | |
| Capital Expenditure | $-1.1M | $-1.8M | $-7.7M | $-1.5M | $-754.0K | $-1.0M | $-997.0K | |
| Financing Cash Flow | $80.9M | $357.3M | $1.6M | $82.4M | $47.7M | $222.5M | $302.3M |
R&D Spending
R&D (TTM)
$129.3M
R&D Intensity
226.8%
R&D Growth YoY
-2.2%
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.7M | $37.0M | $24.9M | $36.5M | $42.1M | $62.4M | $57.0M | |
| R&D Expense | $50.0M | $77.6M | $105.9M | $115.2M | $143.9M | $132.2M | $129.3M | |
| R&D % of Revenue | 653.0% | 209.6% | 426.0% | 315.4% | 342.1% | 211.9% | 226.8% | |
| SG&A | $9.9M | $17.6M | $30.0M | $35.5M | $43.7M | $41.5M | $45.3M |
Income Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.7M | $37.0M | $24.9M | $36.5M | $42.1M | $62.4M | $57.0M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $7.7M | $37.0M | $24.9M | $36.5M | $42.1M | $62.4M | $57.0M | |
| R&D | $50.0M | $77.6M | $105.9M | $115.2M | $143.9M | $132.2M | $129.3M | |
| SG&A | $9.9M | $17.6M | $30.0M | $35.5M | $43.7M | $41.5M | $45.3M | |
| Operating Income | $-52.2M | $-58.2M | $-111.1M | $-114.2M | $-145.6M | $-111.3M | $-117.5M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-52.0M | $-57.9M | $-108.1M | $-101.6M | $-130.1M | $-101.6M | $-107.3M | |
| Net Income | $-52.0M | $-58.2M | $-108.2M | $-101.7M | $-130.3M | $-101.6M | $-107.2M | |
| EPS (Diluted) | -0.59 | -0.94 | -1.23 | -1.08 | -1.19 | -0.87 | -0.83 | |
| EBITDA | $-51.5M | $-57.3M | $-109.5M | $-111.8M | $-143.1M | $-109.0M | $-115.4M | |
| Shares Out. (M) | 87.47 | 62.11 | 87.82 | 94.57 | 109.23 | 116.17 | 143.58 |
Balance Sheet
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $28.4M | $142.7M | $60.0M | $66.4M | $69.5M | $112.3M | $157.8M | |
| Marketable Securities | $161.9M | $342.5M | $306.2M | $270.5M | $188.4M | $230.9M | $222.0M | |
| Total Current Assets | $193.6M | $492.3M | $375.3M | $346.5M | $266.3M | $353.8M | $392.3M | |
| Total Assets | $207.3M | $500.2M | $436.5M | $402.6M | $316.5M | $398.7M | $435.8M | |
| Total Current Liabilities | $40.9M | $40.7M | $55.5M | $45.9M | $38.2M | $21.7M | $14.3M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $168.7M | $155.4M | $187.0M | $149.5M | $117.0M | $52.5M | $44.3M | |
| Stockholders' Equity | $38.6M | $344.7M | $249.5M | $253.1M | $199.5M | $346.2M | $391.5M | |
| Retained Earnings | $-103.1M | $-161.3M | $-269.5M | $-371.3M | $-501.6M | $-603.2M | $-648.7M |
Cash Flow Statement
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $70.1M | $-59.5M | $-109.1M | $-118.0M | $-131.5M | $-138.9M | $-141.5M | |
| Capital Expenditure | $-1.1M | $-1.8M | $-7.7M | $-1.5M | $-754.0K | $-1.0M | $-997.0K | |
| Free Cash Flow | $69.0M | $-61.4M | $-116.8M | $-119.5M | $-132.3M | $-139.9M | $-142.5M | |
| Investing Cash Flow | $-145.5M | $-183.4M | $26.4M | $41.4M | $86.1M | $-40.9M | $-61.8M | |
| Financing Cash Flow | $80.9M | $357.3M | $1.6M | $82.4M | $47.7M | $222.5M | $302.3M | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | $80.0M | $41.7M | $212.4M | $275.2M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $342.1M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $1.8M | $7.8M | $14.2M | $19.1M | $28.9M | $26.4M | $30.0M | |
| Net Change in Cash | $5.5M | $114.4M | $-81.1M | $5.8M | $2.3M | $42.7M | $99.0M |
Dilution Tracker
Shares outstanding grew 131.2% over 5 years — significant dilution
Shares Outstanding
144M
5-Year Share Growth
+131.2%
Stock Issuance (TTM)
$275.2M
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 87.47 | 62.11 | 87.82 | 94.57 | 109.23 | 116.17 | 143.58 | |
| YoY Change % | — | -29.0% | 41.4% | 7.7% | 15.5% | 6.4% | 23.6% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | $80.0M | $41.7M | $212.4M | $275.2M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $1.8M | $7.8M | $14.2M | $19.1M | $28.9M | $26.4M | $30.0M |
Margins & Profitability
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | -681.8% | -157.1% | -446.8% | -312.6% | -346.1% | -178.4% | -206.2% | |
| Net Margin % | -678.8% | -157.2% | -435.1% | -278.5% | -309.7% | -162.9% | -188.2% | |
| EBITDA Margin % | -672.4% | -154.7% | -440.3% | -306.0% | -340.1% | -174.7% | -202.5% | |
| FCF Margin % | 900.8% | -165.7% | -469.7% | -327.2% | -314.4% | -224.3% | -250.1% | |
| ROE % | -134.6% | -30.4% | -36.4% | -40.5% | -57.6% | -37.2% | -44.7% | |
| ROA % | -25.1% | -16.5% | -23.1% | -24.3% | -36.2% | -28.4% | -34.4% | |
| R&D / Revenue | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S63.91
Historical3.03 / 19.07 / 67.32
Industry Med.9.49
P/B11.44
Historical0.74 / 2.79 / 11.59
Industry Med.2.93
EV/EBITDA-40.81
Historical-40.81 / -3.87 / 1.27
Industry Med.13.02
EV/Revenue82.64
Historical-4.80 / 11.56 / 82.64
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$2.72
Net Current Assets
$2.410
Net-Net Working Capital
$2.33
| Metric | Trend | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 0.00 | 18.36 | 25.62 | 25.65 | 8.03 | 16.50 | 63.91 | |
| PB Ratio | 0.00 | 2.78 | 2.56 | 4.00 | 1.67 | 3.48 | 11.44 | |
| EV/EBITDA | 0.00 | -8.28 | -2.87 | -6.39 | -0.78 | -8.21 | -40.81 | |
| EV/Revenue | 0.00 | 12.81 | 12.64 | 19.54 | 2.65 | 14.34 | 82.64 |
Analyst Estimates & Quality
Altman Z-Score
66.79
Safe
Piotroski F-Score
3
Weak
Beneish M-Score
-1.68
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $0.00M | $0.00M | $62.40M |
| Net Income | $-194.49M | $-250.57M | $-274.77M |
| EPS | -1.30 | -1.54 | -1.67 |
| Book Value per Share | 0.00 | 0.00 | 0.00 |
| Operating Cash Flow per Share | 0.00 | 0.00 | 0.00 |
| Operating CF | $0.00M | $0.00M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Single Segment | $62.4M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $62.4M |