Revenue: As of FY2026 Q1, the actual value is USD 0, missing the estimate of USD 578.09 K.EPS: As of FY2026 Q1, the actual value is USD -0.32, missing the estimate of USD -0.3142.EBIT: As of FY2026 Q1, the actual value is USD -50.95 M.Tango Therapeutics, Inc. operates as a single segment, Oncology .<h4>Segment Revenue</h4><ul><li>Collaboration Revenue: Tango Therapeutics, Inc. reported $0 in collaboration revenue for the three months ended March 31, 2026, a decrease from $5.4 million for the same period in 2025 . This change was attributed to the recognition of all remaining deferred revenue from the Gilead Agreement in 2025 after the collaboration agreement was truncated .</li></ul><h4>Operational Metrics</h4><ul><li>Research and Development Expenses: Research and development expenses were $33.5 million for the three months ended March 31, 2026, down from $36.4 million for the same period in 2025, representing a $2.9 million decrease . This decrease was primarily due to a $1.1 million reduction from the discontinuation of the TNG908 clinical program, a $1.8 million decrease in TNG961 development costs, and lower discovery program, personnel-related, and facilities-related expenses . These reductions were partially offset by increased spending on the vopimetostat and TNG456 clinical programs .<ul><li>vopimetostat direct program expenses: $9.332 million (2026) vs $5.461 million (2025) .</li><li>TNG456 direct program expenses: $2.063 million (2026) vs $1.324 million (2025) .</li><li>TNG260 direct program expenses: $2.009 million (2026) vs $1.730 million (2025) .</li><li>TNG961 direct program expenses: $0.408 million (2026) vs $2.221 million (2025) .</li><li>TNG908 direct program expenses: $0.581 million (2026) vs $1.712 million (2025) .</li><li>Discovery direct program expenses: $1.872 million (2026) vs $4.679 million (2025) .</li><li>Personnel-related expenses - R&amp;D: $12.931 million (2026) vs $13.850 million (2025) .</li><li>Facilities and other related expenses - R&amp;D: $4.338 million (2026) vs $5.465 million (2025) .</li></ul></li><li>General and Administrative Expenses: General and administrative expenses increased to $15.2 million for the three months ended March 31, 2026, from $11.5 million for the same period in 2025, an increase of $3.8 million . This was primarily due to higher personnel-related costs, including share-based compensation expense .</li><li>Total Operating Expenses: Total operating expenses were $48.769 million for the three months ended March 31, 2026, compared to $47.922 million for the same period in 2025 .</li><li>Loss from Operations: The loss from operations was - $48.769 million for the three months ended March 31, 2026, compared to - $42.530 million for the same period in 2025 .</li><li>Interest Income: Interest income increased to $2.2 million for the three months ended March 31, 2026, from $1.6 million for the same period in 2025, mainly due to a higher marketable securities balance .</li><li>Other Income, Net: Other income, net, remained constant at $1.1 million for both three-month periods ended March 31, 2026 and 2025, primarily from accretion from investments .</li><li>Net Loss: The net loss was - $45.5 million for the three months ended March 31, 2026, compared to - $39.9 million for the same period in 2025 .</li><li>Accumulated Deficit: The accumulated deficit was - $648.7 million as of March 31, 2026 .</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: Net cash used in operating activities was - $44.4 million for the three months ended March 31, 2026, compared to - $41.7 million for the same period in 2025, primarily due to an increased net loss and higher operating expenses .</li><li>Net Cash Provided by Investing Activities: Net cash provided by investing activities was $9.6 million for the three months ended March 31, 2026, down from $30.6 million for the same period in 2025 . This was mainly due to a decrease in sales and maturities of marketable securities and an increase in purchases of marketable securities .</li><li>Net Cash Provided by Financing Activities: Net cash provided by financing activities significantly increased to $79.8 million for the three months ended March 31, 2026, from less than $0.1 million for the same period in 2025 . This increase was primarily driven by $62.8 million in net proceeds from at-the-market stock offerings and $17.6 million from stock option exercises .</li></ul><h4>Unique Metrics</h4><ul><li>Cash, Cash Equivalents, and Marketable Securities: As of March 31, 2026, Tango Therapeutics, Inc. held $379.8 million in cash, cash equivalents, and marketable securities .</li><li>Total Funding Raised: Through March 31, 2026, the company raised an aggregate of $1.2 billion in funding, comprising $921.4 million from equity financings and $237.1 million from collaboration with Gilead .</li></ul><h4>Future Outlook and Strategy</h4>Management expects Tango Therapeutics, Inc.’s existing cash, cash equivalents, and marketable securities of $379.8 million as of March 31, 2026, to fund operating expenses and capital expenditure requirements into 2028 . The company anticipates continued significant operating losses and increasing expenses as product candidates advance through development . Tango Therapeutics, Inc. plans to finance operations through equity offerings, debt financings, and potential collaboration agreements, though profitability is not assured .

Tango Therapeutics | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 0