2024 Q1 Form 10-K Financial Statement

#000095017024032516 Filed on March 18, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $6.471M $5.431M $36.53M
YoY Change 12.23% -15.29% 46.93%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.66M $9.105M $35.50M
YoY Change 33.05% 15.44% 18.24%
% of Gross Profit
Research & Development $38.07M $31.34M $115.2M
YoY Change 35.76% 7.73% 8.77%
% of Gross Profit
Depreciation & Amortization $600.0K $617.0K $2.400M
YoY Change 0.0% 8.25% 50.0%
% of Gross Profit
Operating Expenses $48.73M $40.44M $150.7M
YoY Change 35.15% 9.37% 10.87%
Operating Profit -$42.26M -$114.2M
YoY Change 39.52% 2.79%
Interest Expense $2.197M $2.236M $6.619M
YoY Change 107.07% 278.34% 354.6%
% of Operating Profit
Other Income/Expense, Net $4.381M $2.061M $12.56M
YoY Change 92.32% 113.13% 326.01%
Pretax Income -$37.87M -$30.72M -$101.6M
YoY Change 35.23% 5.88% -6.02%
Income Tax $40.00K $47.00K $100.0K
% Of Pretax Income
Net Earnings -$37.91M -$30.76M -$101.7M
YoY Change 35.37% 5.86% -5.95%
Net Earnings / Revenue -585.91% -566.43% -278.54%
Basic Earnings Per Share -$0.35 -$1.08
Diluted Earnings Per Share -$0.35 -$0.29 -$1.08
COMMON SHARES
Basic Shares Outstanding 106.7M 94.57M
Diluted Shares Outstanding 108.2M 94.57M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $343.6M $336.9M $336.9M
YoY Change 2.99% -7.99% -7.99%
Cash & Equivalents $61.16M $66.39M $66.39M
Short-Term Investments $282.4M $270.5M $270.5M
Other Short-Term Assets $8.437M $9.653M $9.653M
YoY Change -9.87% 35.22% 35.22%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $352.0M $346.5M $346.5M
YoY Change 2.63% -7.66% -7.66%
LONG-TERM ASSETS
Property, Plant & Equipment $9.522M $9.908M $53.42M
YoY Change -14.26% -8.97% -7.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.00K $46.00K $2.613M
YoY Change -42.11% 820.0% -23.77%
Total Long-Term Assets $54.19M $56.03M $56.03M
YoY Change -10.84% -8.45% -8.45%
TOTAL ASSETS
Total Short-Term Assets $352.0M $346.5M $346.5M
Total Long-Term Assets $54.19M $56.03M $56.03M
Total Assets $406.2M $402.6M $402.6M
YoY Change 0.61% -7.77% -7.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.898M $2.785M $2.785M
YoY Change -38.09% -37.46% -37.46%
Accrued Expenses $15.82M $17.48M $17.48M
YoY Change 18.69% -9.25% -9.25%
Deferred Revenue $23.07M $25.67M
YoY Change -32.17% -19.26%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $42.79M $45.94M $45.94M
YoY Change -20.28% -17.3% -17.3%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $98.98M $103.5M $103.5M
YoY Change -19.42% -21.25% -21.25%
Total Long-Term Liabilities $98.98M $103.5M $103.5M
YoY Change -19.42% -21.25% -21.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.79M $45.94M $45.94M
Total Long-Term Liabilities $98.98M $103.5M $103.5M
Total Liabilities $141.8M $149.5M $149.5M
YoY Change -19.68% -20.07% -20.07%
SHAREHOLDERS EQUITY
Retained Earnings -$409.2M -$371.3M
YoY Change 37.53% 37.75%
Common Stock $107.0K $102.0K
YoY Change 21.59% 15.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $264.5M $253.1M $253.1M
YoY Change
Total Liabilities & Shareholders Equity $406.2M $402.6M $402.6M
YoY Change 0.61% -7.77% -7.77%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$37.91M -$30.76M -$101.7M
YoY Change 35.37% 5.86% -5.95%
Depreciation, Depletion And Amortization $600.0K $617.0K $2.400M
YoY Change 0.0% 8.25% 50.0%
Cash From Operating Activities -$37.86M -$27.47M -$118.0M
YoY Change 8.45% -2.83% 8.16%
INVESTING ACTIVITIES
Capital Expenditures $195.0K $226.0K $1.526M
YoY Change -68.55% -78.29% -80.16%
Acquisitions
YoY Change
Other Investing Activities -$11.01M $34.08M $42.95M
YoY Change -134.22% -394.69% 25.99%
Cash From Investing Activities -$11.20M $33.85M $41.43M
YoY Change -135.51% -368.56% 56.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 42.98M 1.467M 82.41M
YoY Change 58779.45% 178.37% 5002.54%
NET CHANGE
Cash From Operating Activities -37.86M -27.47M -118.0M
Cash From Investing Activities -11.20M 33.85M 41.43M
Cash From Financing Activities 42.98M 1.467M 82.41M
Net Change In Cash -6.078M 7.852M 5.850M
YoY Change 85.14% -119.46% -107.22%
FREE CASH FLOW
Cash From Operating Activities -$37.86M -$27.47M -$118.0M
Capital Expenditures $195.0K $226.0K $1.526M
Free Cash Flow -$38.05M -$27.69M -$119.5M
YoY Change 7.11% -5.51% 2.34%

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CY2022 tngx Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
7629000
CY2023 tngx Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-2439000
CY2022 tngx Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
1700000
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-31527000
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-16860000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-117982000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-109080000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1526000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7692000
CY2023 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
353526000
CY2022 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
242595000
CY2023 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
310574000
CY2022 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
208504000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
41426000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
26399000
CY2023 tngx Proceeds From Issuance Of Common Stock And Pre Funded Warrants Net
ProceedsFromIssuanceOfCommonStockAndPreFundedWarrantsNet
80017000
CY2023 tngx Proceeds From Issuance Of Common Stock Upon Exercise Of Stock Options And Purchase Of Shares Under Employee Stock Purchase Plans
ProceedsFromIssuanceOfCommonStockUponExerciseOfStockOptionsAndPurchaseOfSharesUnderEmployeeStockPurchasePlans
1941000
CY2022 tngx Proceeds From Issuance Of Common Stock Upon Exercise Of Stock Options And Purchase Of Shares Under Employee Stock Purchase Plans
ProceedsFromIssuanceOfCommonStockUponExerciseOfStockOptionsAndPurchaseOfSharesUnderEmployeeStockPurchasePlans
1623000
CY2023 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
689000
CY2023 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
241000
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
8000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
82406000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1615000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5850000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-81066000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
63958000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
145024000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
69808000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
63958000
CY2023 tngx Cash Paid For Leases
CashPaidForLeases
5882000
CY2022 tngx Cash Paid For Leases
CashPaidForLeases
1413000
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
38000
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
131000
CY2022 tngx Operating Lease Liabilities From Obtaining Right Of Use Assets
OperatingLeaseLiabilitiesFromObtainingRightOfUseAssets
48352000
CY2023 tngx Revaluation Of Right Of Use Asset And Lease Liability Upon Lease Modification
RevaluationOfRightOfUseAssetAndLeaseLiabilityUponLeaseModification
-228000
CY2022 tngx Revaluation Of Right Of Use Asset And Lease Liability Upon Lease Modification
RevaluationOfRightOfUseAssetAndLeaseLiabilityUponLeaseModification
300000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of consolidated financial statements requires that the Company make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosures. Significant estimates and assumptions made in the consolidated financial statements include, but are not limited to, the revenue recognized from collaboration agreements, the valuation of stock-based awards and the accrual for research and development expenses. On an ongoing basis, the Company evaluates its estimates, judgments and methodologies. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets, liabilities and equity and the amount of revenues and expenses. As of the date of issuance of these consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities. Actual results may differ from these estimates under different assumptions or conditions. Changes in estimates are reflected in reported results in the period in which they become known.</span>
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
0
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk and Significant Suppliers</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash, cash equivalents and marketable debt securities. The Company’s cash, cash equivalent and marketable securities balances are</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">held by major financial institutions that management believes to be creditworthy. The Company uses multiple financial institutions to limit the amount of credit exposure to any one financial institution. Substantially all the Company’s cash, cash equivalent and marketable debt securities were invested in money market funds, U.S. Treasury bills, and U.S. government agency bonds at December 31, 2023 and 2022. At times, the Company’s cash deposits may exceed the amount of federal insurance provided on such deposits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk beyond the normal credit risk associated with commercial banking relationships.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company relies, and expects to continue to rely, on a small number of vendors to perform research activities and clinical trial activities that continue to progress its product candidates for its development programs. These programs could be adversely affected by a significant interruption in the related processes of these vendors.</span>
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
3400000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
4000000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
66385000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59968000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3423000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3990000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69808000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
63958000
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023 tngx Expected Dividend Assumed
ExpectedDividendAssumed
0
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
270500000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
309870000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
21000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3726000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P3Y7M6D
CY2023Q4 tngx Fair Value Asset Level1 To Level2 Transfer Amount
FairValueAssetLevel1ToLevel2TransferAmount
0
CY2023Q4 tngx Fair Value Asset Level2 To Level1 Transfer Amount
FairValueAssetLevel2ToLevel1TransferAmount
0
CY2023Q4 tngx Fair Value Liabilities Level1 To Level2 Transfer Amounts
FairValueLiabilitiesLevel1ToLevel2TransferAmounts
0
CY2023Q4 tngx Fair Value Liabilities Level2 To Level1 Transfer Amounts
FairValueLiabilitiesLevel2ToLevel1TransferAmounts
0
CY2022Q4 tngx Fair Value Asset Level1 To Level2 Transfer Amount
FairValueAssetLevel1ToLevel2TransferAmount
0
CY2022Q4 tngx Fair Value Asset Level2 To Level1 Transfer Amount
FairValueAssetLevel2ToLevel1TransferAmount
0
CY2022Q4 tngx Fair Value Liabilities Level1 To Level2 Transfer Amounts
FairValueLiabilitiesLevel1ToLevel2TransferAmounts
0
CY2022Q4 tngx Fair Value Liabilities Level2 To Level1 Transfer Amounts
FairValueLiabilitiesLevel2ToLevel1TransferAmounts
0
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
270314000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
381000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
195000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
306165000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
59857000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
34000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
32164000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
161000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
92021000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
195000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
113132000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
1267000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
122997000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
2459000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
236129000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
3726000
CY2023Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
1800000
CY2022Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
500000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
15897000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14565000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5989000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3681000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9908000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10884000
CY2023 us-gaap Depreciation
Depreciation
2400000
CY2022 us-gaap Depreciation
Depreciation
1600000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7910000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5738000
CY2023Q4 tngx Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
6204000
CY2022Q4 tngx Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
10490000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1287000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1267000
CY2023Q4 tngx Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
15401000
CY2022Q4 tngx Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
17495000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
43500000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
46900000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
5526000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
4079000
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
3815000
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
476000
CY2023 us-gaap Sublease Income
SubleaseIncome
1467000
CY2022 us-gaap Sublease Income
SubleaseIncome
101000
CY2023 us-gaap Lease Cost
LeaseCost
7874000
CY2022 us-gaap Lease Cost
LeaseCost
4454000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
5188000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
82000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y1M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.08
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.08
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5101000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5608000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5776000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5949000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
6128000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
26982000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
55544000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
16624000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
38920000
CY2023Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
10000000
CY2023Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
0
CY2023Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023 us-gaap Common Stock Voting Rights
CommonStockVotingRights
The holder of each share of common stock is entitled to one vote in respect of each share of stock held.
CY2023Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
102202759
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
102202759
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
88179374
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
88179374
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12924086
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.50
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M17D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
24267448000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
5427552
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.41
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
498973
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.22
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1117705
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.48
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
16734960
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.21
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M29D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
62640906000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
7878781
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.86
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y11M19D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
32213577000
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M12D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M12D
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.72
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.72
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.041
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.022
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19079000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14230000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.067
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.058
CY2023 tngx Effective Income Tax Rate Reconciliation Tax Credits Research And Development
EffectiveIncomeTaxRateReconciliationTaxCreditsResearchAndDevelopment
0.063
CY2022 tngx Effective Income Tax Rate Reconciliation Tax Credits Research And Development
EffectiveIncomeTaxRateReconciliationTaxCreditsResearchAndDevelopment
0.035
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.021
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.015
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.002
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.001
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.003
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.318
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.291
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.001
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
16579000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
7601000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
18798000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
10893000
CY2023Q4 tngx Deferred Tax Assets Operating Lease Liability
DeferredTaxAssetsOperatingLeaseLiability
12621000
CY2022Q4 tngx Deferred Tax Assets Operating Lease Liability
DeferredTaxAssetsOperatingLeaseLiability
13454000
CY2023Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
24644000
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
31628000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
1904000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
1498000
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
48257000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
28173000
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
4561000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2830000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
127364000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
96077000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
113397000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
81044000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
13967000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
15033000
CY2023Q4 tngx Deferred Tax Liabilities Depreciation
DeferredTaxLiabilitiesDepreciation
2126000
CY2022Q4 tngx Deferred Tax Liabilities Depreciation
DeferredTaxLiabilitiesDepreciation
2310000
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
11841000
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
12723000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
13967000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
15033000
CY2023Q4 tngx Percentage Of Increase In Ownership Percentage Over A Three Year Period
PercentageOfIncreaseInOwnershipPercentageOverAThreeYearPeriod
0.50
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
32400000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023 us-gaap Description Of Defined Contribution Pension And Other Postretirement Plans
DescriptionOfDefinedContributionPensionAndOtherPostretirementPlans
The Company maintains a 401(k) retirement savings plan for employees who satisfy certain eligibility requirements. The savings plan is intended to qualify for favorable tax treatment under Section 401(a) of the Code and contains a cash or deferred feature that is intended to meet the requirements of Section 401(k) of the Code. Participants may make pre-tax and certain after-tax (Roth) salary deferral contributions to the plan from their eligible earnings up to the statutorily prescribed annual limit under the Code. Participants who are 50 years of age or older may contribute additional amounts based on the statutory limits for catch-up contributions. Participant contributions are held in trust as required by law.
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
900000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
700000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-101744000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-108176000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
94572448
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94572448
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87820037
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87820037
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.08
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.08
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.23
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.23
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17492474
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12924086

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