Why Shares of Tango Therapeutics Skyrocketed This Week
Shares of Tango Therapeutics (NASDAQ: TNGX) were up more than 91% for the week as of Thursday's close, according to data provided by S&P Global Market Intelligence. The clinical-stage biotech company's stock closed last week at $3.40 and reached a 52-week high of $9.39 on Wednesday.
The company, which focuses on precision oncology therapies, reported second-quarter earnings on Monday. Tango focused on the progress it is making with early-stage pipeline candidates. The company said it had begun dosing in two phase 1/2 trials, including TNG462 to treat MTAP-deleted tumors and TNG620 as a combination therapy with pembrolizumab to treat STK11-mutant solid tumors. Tango also is looking at TNG908 in a phase 1/2 trial to treat MTAP-deleted cancers and expects additional data from the trial next year.
According to Tango, 10% to 15% of all human cancers are associated with the deletion of the MTAP enzyme.
Source Fool.com
