Tango Therapeutics Shares Jump Over 40% on 92% Response Rate Data
TNGX•Tango Therapeutics reported Phase 1/2 pancreatic cancer trial data showing a 92% objective response rate and 90% six-month progression-free survival, prompting Wolfe Research to upgrade its rating to Outperform. Shares surged over 40%, reaching a 52-week high of $30.49 and boosting market value to approximately $3.35 billion.
1. Clinical Trial Data
Tango Therapeutics' Phase 1/2 study in advanced pancreatic cancer combined vopimetostat with daraxonrasib and achieved a 92% objective response rate with 90% progression-free survival at six months, marking one of the strongest efficacy profiles reported in early-stage pancreatic cancer trials.
2. Wolfe Research Upgrade
Based on these data, Wolfe Research upgraded Tango Therapeutics to an Outperform rating, noting the potential for the drug combination to address high-unmet need in first-line pancreatic cancer and citing a share price of $29.23 at the time of the upgrade.
3. Market Reaction
The trial results triggered a stock surge exceeding 40%, driving shares to a 52-week high of $30.49 and lifting the company’s market capitalization to about $3.35 billion within the same trading session.
4. Planned Next Steps
Following the robust early-stage results, the company plans to advance the treatment regimen into late-stage trials for first-line use and explore regulatory interactions to prepare for potential approval pathways.
