{"success":true,"data":{"pressRelease":{"id":"59545","rtpr_id":"nGNX4Cb3JJ","ticker":"TNGX","exchange":"NASDAQ","all_tickers":["TNGX"],"title":"Tango Therapeutics Announces Pricing of $600 Million Upsized Public Offering","author":"Globe Newswire","published_at":"2026-06-10T02:49:28.107Z","article_body":"BOSTON, June 09, 2026 (GLOBE NEWSWIRE) -- Tango Therapeutics, Inc.\n(“Tango”) (Nasdaq: TNGX), a clinical-stage biotechnology company committed\nto discovering and delivering the next generation of precision cancer\nmedicines, announced today the pricing of an underwritten offering of\n18,166,667 shares of its common stock and pre-funded warrants to purchase up\nto 1,833,395 shares of its common stock (the “Offering”). The offering\nprice of each share of common stock is $30.00. The offering price of each\npre-funded warrant is $29.999, which represents the per share offering price\nfor the common stock less the $0.001 per share exercise price for such\npre-funded warrant. The gross proceeds from the Offering, before deducting\nunderwriting discounts and commissions and offering-related expenses, are\nexpected to be approximately $600 million. All of the shares and pre-funded\nwarrants in the Offering are to be sold by Tango. The Offering is expected to\nclose on or about June 11, 2026, subject to customary closing conditions. In\naddition, Tango has granted the underwriters a 30-day option to purchase up to\nan additional 3,000,009 shares of common stock at the public offering price,\nless the underwriting discount.\n\nJ.P. Morgan, Leerink Partners, Cantor and Stifel are acting as joint\nbookrunning managers for the Offering.\n\nThe Offering is being made pursuant to an effective shelf registration\nstatement that was previously filed with the U.S. Securities and Exchange\nCommission (the “SEC”). A preliminary prospectus supplement, accompanying\nprospectus and a free writing prospectus relating to the Offering have been\nfiled with the SEC and are available on the SEC’s website at www.sec.gov. A\nfinal prospectus supplement and accompanying prospectus relating to the\nOffering will be filed with the SEC and will be available on the SEC’s\nwebsite at www.sec.gov. Copies of the final prospectus supplement,\naccompanying prospectus and the free writing prospectus relating to the\nOffering may also be obtained, when available, by contacting: J.P. Morgan\nSecurities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,\nEdgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com and\npostsalemanualrequests@broadridge.com; Leerink Partners LLC, Attention:\nSyndicate Department, 53 State Street, 40th Floor, Boston,\nMassachusetts 02109; by telephone at (800) 808-7525 ext. 6105; or by email\nat syndicate@leerink.com; Cantor Fitzgerald & Co., Attention: Capital\nMarkets, 110 East 59th Street, 6th Floor, New York, NY 10022, or by e-mail at\nprospectus@cantor.com; and Stifel, Nicolaus & Company, Incorporated,\nAttention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA\n94104, or by telephone at (415) 364-2720, or by email at\nsyndprospectus@stifel.com.\n\nThis press release shall not constitute an offer to sell or the solicitation\nof an offer to buy these securities, nor shall there be any sale of these\nsecurities in any state or jurisdiction in which such offer, solicitation or\nsale would be unlawful prior to registration or qualification under the\nsecurities laws of any such state or jurisdiction.\n\nAbout Tango Therapeutics\n\nTango Therapeutics is a clinical-stage biotechnology company dedicated to\ndiscovering novel drug targets and delivering the next generation of precision\nmedicine for the treatment of cancer. Using an approach that starts and ends\nwith patients, Tango leverages the genetic principle of synthetic lethality to\ndiscover and develop therapies that take aim at critical targets in cancer.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995, as amended, including,\nwithout limitation, statements regarding the timing and closing of the\nOffering, the potential exercise by the underwriters of the option to purchase\nadditional shares, and the expected gross proceeds from the Offering. The\nwords “may,” “will,” “could,” “would,” “should,”\n“expect,” “plan,” “anticipate,” “intend,” “believe,”\n“estimate,” “predict,” “project,” “potential,” “continue,”\n“target” and similar expressions are intended to identify forward-looking\nstatements, although not all forward-looking statements contain these\nidentifying words.\n\nThe forward-looking statements in this press release are based on\nmanagement’s current expectations and beliefs and are subject to a number of\nrisks, uncertainties and important factors that may cause actual events or\nresults to differ materially from those expressed or implied by the\nforward-looking statements contained in this press release. These and other\nrisks and uncertainties are described in greater detail in the section\nentitled “Risk Factors” in Tango’s most recent annual report on Form\n10-K and subsequent quarterly report on Form 10-Q filed with the SEC, as well\nas discussions of potential risks, uncertainties, and other important factors\nin Tango’s other filings with the SEC, including those contained or\nincorporated by reference in the prospectus supplement, accompanying\nprospectus and any free writing prospectus related to the Offering filed with\nthe SEC. The forward-looking statements contained in this press release\nrepresent Tango’s views only as of the date hereof and should not be relied\nupon as representing its views as of any subsequent date. Tango explicitly\ndisclaims any obligation to update any forward-looking statements, except as\nrequired by law.\n\nInvestors: \nElizabeth Hickin \nIR@tangotx.com \nmedia@tangotx.com\n\nMedia:\n1AB\nAmanda Lazaro\namanda@1abmedia.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d6e37a27-2e33-43bb-ae05-bfb0dedbf190)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX4Cb3JJ","title":"Tango Therapeutics Announces Pricing of $600 Million Upsized Public Offering","author":"Globe Newswire","ticker":"TNGX","created":"2026-06-10T02:49:28.107Z","tickers":["TNGX"],"exchange":"NASDAQ","article_body":"BOSTON, June 09, 2026 (GLOBE NEWSWIRE) -- Tango Therapeutics, Inc.\n(“Tango”) (Nasdaq: TNGX), a clinical-stage biotechnology company committed\nto discovering and delivering the next generation of precision cancer\nmedicines, announced today the pricing of an underwritten offering of\n18,166,667 shares of its common stock and pre-funded warrants to purchase up\nto 1,833,395 shares of its common stock (the “Offering”). The offering\nprice of each share of common stock is $30.00. The offering price of each\npre-funded warrant is $29.999, which represents the per share offering price\nfor the common stock less the $0.001 per share exercise price for such\npre-funded warrant. The gross proceeds from the Offering, before deducting\nunderwriting discounts and commissions and offering-related expenses, are\nexpected to be approximately $600 million. All of the shares and pre-funded\nwarrants in the Offering are to be sold by Tango. The Offering is expected to\nclose on or about June 11, 2026, subject to customary closing conditions. In\naddition, Tango has granted the underwriters a 30-day option to purchase up to\nan additional 3,000,009 shares of common stock at the public offering price,\nless the underwriting discount.\n\nJ.P. Morgan, Leerink Partners, Cantor and Stifel are acting as joint\nbookrunning managers for the Offering.\n\nThe Offering is being made pursuant to an effective shelf registration\nstatement that was previously filed with the U.S. Securities and Exchange\nCommission (the “SEC”). A preliminary prospectus supplement, accompanying\nprospectus and a free writing prospectus relating to the Offering have been\nfiled with the SEC and are available on the SEC’s website at www.sec.gov. A\nfinal prospectus supplement and accompanying prospectus relating to the\nOffering will be filed with the SEC and will be available on the SEC’s\nwebsite at www.sec.gov. Copies of the final prospectus supplement,\naccompanying prospectus and the free writing prospectus relating to the\nOffering may also be obtained, when available, by contacting: J.P. Morgan\nSecurities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,\nEdgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com and\npostsalemanualrequests@broadridge.com; Leerink Partners LLC, Attention:\nSyndicate Department, 53 State Street, 40th Floor, Boston,\nMassachusetts 02109; by telephone at (800) 808-7525 ext. 6105; or by email\nat syndicate@leerink.com; Cantor Fitzgerald & Co., Attention: Capital\nMarkets, 110 East 59th Street, 6th Floor, New York, NY 10022, or by e-mail at\nprospectus@cantor.com; and Stifel, Nicolaus & Company, Incorporated,\nAttention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA\n94104, or by telephone at (415) 364-2720, or by email at\nsyndprospectus@stifel.com.\n\nThis press release shall not constitute an offer to sell or the solicitation\nof an offer to buy these securities, nor shall there be any sale of these\nsecurities in any state or jurisdiction in which such offer, solicitation or\nsale would be unlawful prior to registration or qualification under the\nsecurities laws of any such state or jurisdiction.\n\nAbout Tango Therapeutics\n\nTango Therapeutics is a clinical-stage biotechnology company dedicated to\ndiscovering novel drug targets and delivering the next generation of precision\nmedicine for the treatment of cancer. Using an approach that starts and ends\nwith patients, Tango leverages the genetic principle of synthetic lethality to\ndiscover and develop therapies that take aim at critical targets in cancer.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995, as amended, including,\nwithout limitation, statements regarding the timing and closing of the\nOffering, the potential exercise by the underwriters of the option to purchase\nadditional shares, and the expected gross proceeds from the Offering. The\nwords “may,” “will,” “could,” “would,” “should,”\n“expect,” “plan,” “anticipate,” “intend,” “believe,”\n“estimate,” “predict,” “project,” “potential,” “continue,”\n“target” and similar expressions are intended to identify forward-looking\nstatements, although not all forward-looking statements contain these\nidentifying words.\n\nThe forward-looking statements in this press release are based on\nmanagement’s current expectations and beliefs and are subject to a number of\nrisks, uncertainties and important factors that may cause actual events or\nresults to differ materially from those expressed or implied by the\nforward-looking statements contained in this press release. These and other\nrisks and uncertainties are described in greater detail in the section\nentitled “Risk Factors” in Tango’s most recent annual report on Form\n10-K and subsequent quarterly report on Form 10-Q filed with the SEC, as well\nas discussions of potential risks, uncertainties, and other important factors\nin Tango’s other filings with the SEC, including those contained or\nincorporated by reference in the prospectus supplement, accompanying\nprospectus and any free writing prospectus related to the Offering filed with\nthe SEC. The forward-looking statements contained in this press release\nrepresent Tango’s views only as of the date hereof and should not be relied\nupon as representing its views as of any subsequent date. Tango explicitly\ndisclaims any obligation to update any forward-looking statements, except as\nrequired by law.\n\nInvestors: \nElizabeth Hickin \nIR@tangotx.com \nmedia@tangotx.com\n\nMedia:\n1AB\nAmanda Lazaro\namanda@1abmedia.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d6e37a27-2e33-43bb-ae05-bfb0dedbf190)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-06-10T02:49:28.158336373Z","server_sent_at_ms":1781059768158},"received_at":"2026-06-10T02:49:28.229Z","source_url":null},"analysis":{"id":"48971","press_release_id":"59545","analysis_json":{"industry":{"label":"Biotechnology","sector":"Health Care"},"redFlags":["Large dilutive raise ($600M) for a clinical-stage company signals high cash burn or extended runway needs","Pre-funded warrants included, indicating institutional investor demand for immediate equity exposure with minimal dilution risk"],"eventType":"offering","narrative":"Tango Therapeutics priced an upsized public offering of 18.17 million shares and 1.83 million pre-funded warrants at $30.00 per share.\n\nThe deal generates approximately $600 million in gross proceeds, with J.P. Morgan, Leerink Partners, Cantor, and Stifel acting as joint bookrunners.\n\nThe offering is expected to close on June 11, 2026, and includes a 30-day over-allotment option for an additional 3 million shares.","sentiment":"bearish","agentHooks":{"shouldPost":true,"suggestedAngle":"Tango raises $600M in dilutive offering at $30/share; watch for near-term selling pressure and updated clinical timeline."},"keyFigures":{"dealValueUsd":600000000,"offeringPrice":30,"sharesOffered":18166667,"customDimensions":{"pre_funded_warrants":1833395,"warrant_exercise_price":0.001,"underwriter_option_shares":3000009}},"quotedText":"Tango Therapeutics, Inc. (“Tango”) (Nasdaq: TNGX), a clinical-stage biotechnology company committed to discovering and delivering the next generation of precision cancer medicines, announced today the pricing of an underwritten offering of 18,166,667 shares of its common stock and pre-funded warrants to purchase up to 1,833,395 shares of its common stock (the “Offering”).","namedEntities":{"people":[],"products":[],"companies":[{"name":"Tango Therapeutics, Inc.","ticker":"TNGX","relationship":"issuer"},{"name":"J.P. Morgan","relationship":"underwriter"},{"name":"Leerink Partners","relationship":"underwriter"},{"name":"Cantor Fitzgerald","relationship":"underwriter"},{"name":"Stifel","relationship":"underwriter"},{"name":"SEC","relationship":"regulator"}],"dollarAmounts":[{"amount":"$600 million","context":"gross proceeds from the Offering"},{"amount":"$30.00","context":"offering price per share of common stock"},{"amount":"$29.999","context":"offering price per pre-funded warrant"},{"amount":"$0.001","context":"exercise price for pre-funded warrants"}]},"materialImpact":{"score":4,"reasoning":"A $600 million public offering is a significant dilutive event for a clinical-stage biotech. The large raise signals a need for substantial capital to fund operations and trials, likely diluting existing shareholders by a meaningful percentage (approx. 18M shares + warrants)."},"tickerRelevance":{"others":[],"primary":"TNGX"},"globalImportance":45,"audienceRelevance":35,"eventTypeSecondary":["dilution"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"high","sectorWeight":"high","householdBrandBoost":"low","marketCapAdjustment":"neutral","retailFavoriteBoost":"low"}},"event_type":"offering","event_type_secondary":["dilution"],"sentiment":"bearish","material_impact_score":4,"narrative":"Tango Therapeutics priced an upsized public offering of 18.17 million shares and 1.83 million pre-funded warrants at $30.00 per share.\n\nThe deal generates approximately $600 million in gross proceeds, with J.P. Morgan, Leerink Partners, Cantor, and Stifel acting as joint bookrunners.\n\nThe offering is expected to close on June 11, 2026, and includes a 30-day over-allotment option for an additional 3 million shares.","key_figures":{"dealValueUsd":600000000,"offeringPrice":30,"sharesOffered":18166667,"customDimensions":{"pre_funded_warrants":1833395,"warrant_exercise_price":0.001,"underwriter_option_shares":3000009}},"named_entities":{"people":[],"products":[],"companies":[{"name":"Tango Therapeutics, Inc.","ticker":"TNGX","relationship":"issuer"},{"name":"J.P. Morgan","relationship":"underwriter"},{"name":"Leerink Partners","relationship":"underwriter"},{"name":"Cantor Fitzgerald","relationship":"underwriter"},{"name":"Stifel","relationship":"underwriter"},{"name":"SEC","relationship":"regulator"}],"dollarAmounts":[{"amount":"$600 million","context":"gross proceeds from the Offering"},{"amount":"$30.00","context":"offering price per share of common stock"},{"amount":"$29.999","context":"offering price per pre-funded warrant"},{"amount":"$0.001","context":"exercise price for pre-funded warrants"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-06-10T02:49:45.466Z","global_importance":45,"audience_relevance":35,"importance_components":{"tickerTier":"mid-cap","eventGravity":"high","sectorWeight":"high","householdBrandBoost":"low","marketCapAdjustment":"neutral","retailFavoriteBoost":"low"}},"durationMs":17206,"modelName":"george-droid-qwen-72b"}}