Tango Therapeutics Inc. (NASDAQ: TNGX ) is one of them 10 stocks investors are watching closely this week.
Tango Therapeutics rose 52.15 percent on the week, as investors cheered positive developments, including a “buy” recommendation for the stock and the start of a series of clinical trials for its pancreatic cancer treatment candidate vopimetostat.
In a market report during the week, investment firm Stifel downgraded Tango Therapeutics Inc. (NASDAQ:TNGX) reaffirmed a “buy” recommendation and a $15 price target, following improvements in last year’s earnings performance, reducing its net loss by 22% to $101.59 million in 2024 from $130.3 million.
Photo by Pietro Jing on Pixels
On the other hand, total revenue increased by 48.3 percent to $62.38 million from $42.07 million year-on-year.
However, net loss in the fourth quarter widened by 26 percent to $38.7 million from $30.76 million, on no revenue in the period, compared to revenue of $5.4 million in the same period last year.
For this year, Tango Therapeutics Inc. (NASDAQ:TNGX) plans to initiate a number of clinical trials to test its drug candidate vopimetostat in combination with multiple inhibitors for the treatment of pancreatic cancer.
It recently partnered with Araska to study the combination of vopimetostat with ERAS-0015 in the treatment of pancreatic cancer.
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Read more: 30 stocks that should double in 3 years and 11 Secret AI Stocks to Buy Right Now.
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