Benzinga - by Vandana Singh, Benzinga Editor.
On Thursday, Tango Therapeutics Inc. (NASDAQ:TNGX) announced that it will discontinue the development of its TNG348 program.
“Patient safety is always our first priority and based on emerging data from the TNG348 dose escalation study, we have made the decision to discontinue further development of this molecule due to liver toxicity experienced by patients in the trial. While disappointing, we believe this is the right decision given the data at hand,” said Barbara Weber, President and CEO.
“We will focus resources and capital on our existing portfolio, particularly our PRMT5 program. We remain committed to and confident in our ability to deliver a comprehensive clinical update on TNG908 and TNG462 in the second half of this year.”
TNG348 was being studied in a phase 1/2 clinical trial evaluating the safety, pharmacokinetics, pharmacodynamics, and efficacy as a single agent and in combination with AstraZeneca Plc’s (NASDAQ:AZN) Lynparza (olaparib) in patients with BRCA1/2-mutant and other HRD+ (homologous recombination deficient) cancers.
Grade 3/4 liver function abnormalities were observed in patients remaining on study longer than eight weeks, leading to the decision to terminate the program.
No patient had yet received a combination of TNG348 and olaparib.
The company says the cash runway extended into 2027, and PRMT5 and CoREST clinical programs remain on track.
Earlier, Tango Therapeutics expected that its cash position of $344 million as of March 31, 2024, would provide a cash runway into late 2026.
Price Action: TNGX shares are trading 1.62% higher at $7.51 at the last check on Thursday.
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