Tango Therapeutics Inc (NASDAQ: TNGX) is a clinical-stage biopharmaceutical company that discovers and develops targeted cancer therapies based on the principle of synthetic lethality. Revenue is generated through collaboration agreements, recognized under ASC 606 as performance obligations are satisfied, with deferred revenue recorded on the balance sheet when partners prepay in advance of performance. The company operates from its primary office and laboratory space at 201 Brookline Avenue, Boston, Massachusetts, and has never declared or paid a cash dividend, retaining all funds for research and development. As of December 31, 2025, the company carried deferred revenue as both a current and long-term liability, reflecting upfront payments from collaboration partners. Tango competes against large pharmaceutical companies and smaller biotechs developing synthetic lethality therapies or treatments in the same target indications. The company has no approved products as of the 10-K filed March 5, 2026, and operates at a net loss, funding operations through collaboration payments and capital markets.

Revenue model

Collaboration agreements with pharmaceutical partners, recognized as revenue under ASC 606 when performance obligations are satisfied. Upfront and milestone payments from partners are recorded as deferred revenue until earned. No product revenue as of the 10-K filed March 5, 2026.

Products and services

Preclinical and clinical-stage cancer therapies based on synthetic lethality. No approved products as of the 10-K filed March 5, 2026.

Customers and end markets

Pharmaceutical and biotechnology collaboration partners. End market is oncology. No disclosed customer concentration data in the filing excerpts.

Value-chain role

Drug discovery and clinical development organization. Contracts with third-party vendors for preclinical studies, clinical operations, manufacturing, and research and development supplies. Relies on consultants and scientific advisors for research and commercialization strategy.

Geographic exposure

Headquartered in Boston, Massachusetts. Filing references EU and UK regulatory obligations, indicating at least some operational or data-processing activity touching those jurisdictions.

Competitors

AstraZeneca, Amgen, Bristol Myers Squibb, Gilead, GlaxoSmithKline, Merck KGaA, Pfizer, Lilly, Roche

Source: SEC 10-K, filed 2026-03-05

Industry: Pharmaceutical Preparations Peers: ALPINE IMMUNE SCIENCES, INC. Annexon Inc Arbutus Biopharma Corp Biomea Fusion Inc CONCERT PHARMACEUTICALS, INC. GreenLight Biosciences Holdings, PBC Sutro Biopharma Inc Immuneering Corp Omega Therapeutics, Inc.