Tango jumps after $225 million capital raise

Tango Therapeutics

23/10/2025 13:07

** Drug developer Tango Therapeutics' TNGX.O shares rise 20% to $10.47 premarket

** Co announces pricing of underwritten offering of 21 mln shares and pre-funded warrants to purchase up to 3.2 mln shares at $8.66/share

** Offering, whose proceeds are expected to be ~$210 mln, priced at par with stock's last close of $8.66

** Investors include Farallon, TCGX, Balyasny, Woodline, Invus, Adage, Boxer, Logos, Nantahala, T. Rowe Price, and a large institutional investor, co says

** Leerink, Cantor are joint bookrunners for offering

** Concurrently, TNGX secures $15 mln more in a private placement

** Separately, co's experimental therapy TNG462 increases survival without progession of disease to 7.2 months in an early-stage study in a type of cancer tumors

** This supports our decision to initiate a pivotal trial in 2026 - TNGX

** Up to last close, stock up ~180% YTD

 (Reporting by Sahil Pandey in Bengaluru)

 ((Sahil.Pandey@thomsonreuters.com))