Tango Therapeutics Announces Limited Exposure to Silicon Valley Bank
11 Março 2023 - 12:15AM
Tango Therapeutics, Inc. (NASDAQ: TNGX), a clinical-stage
biotechnology company committed to discovering and delivering the
next generation of precision cancer medicines, reported that it is
aware of the current situation affecting Silicon Valley Bank (SVB),
it is monitoring this situation closely and does not expect its
exposure to SVB will require any change to its previously provided
guidance that it has sufficient cash, cash equivalents and
marketable securities to fund operations into 2025.
About Tango Therapeutics
Tango Therapeutics is a clinical-stage biotechnology company
dedicated to discovering novel drug targets and delivering the next
generation of precision medicine for the treatment of cancer. Using
an approach that starts and ends with patients, Tango leverages the
genetic principle of synthetic lethality to discover and develop
therapies that take aim at critical targets in cancer. This
includes expanding the universe of precision oncology targets into
novel areas such as tumor suppressor gene loss and their
contribution to the ability of cancer cells to evade immune cell
killing. For more information, please visit www.tangotx.com.
Forward-Looking Statements
Certain statements in this press release may be considered
forward-looking statements. Forward-looking statements generally
relate to future events, Tango’s future operating performance and
goals, the anticipated benefits of therapies and combination
therapies (that include a Tango pipeline product), expectations,
beliefs and development objectives for Tango’s product pipeline and
clinical trials. In some cases, you can identify forward-looking
statements by terminology such as “may”, “should”, “expect”,
“intend”, “will”, “goal”, “estimate”, “anticipate”, “believe”,
“predict”, “designed,” “potential” or “continue”, or the negatives
of these terms or variations of them or similar terminology. For
example, statements concerning the following include or constitute
forward-looking statements: the Company does not expect its
exposure to SVB will require any change to its previously provided
guidance that it has sufficient cash resources to fund operations
into 2025. Such forward-looking statements are subject to risks,
uncertainties, and other factors which could cause actual results
to differ materially from those expressed or implied by such
forward looking statements. These forward-looking statements are
based upon estimates and assumptions that, while considered
reasonable by Tango and its management, are inherently uncertain.
New risks and uncertainties may emerge from time to time, and it is
not possible to predict all risks and uncertainties. Factors that
may cause actual results to differ materially from current
expectations include, but are not limited to: the Company may
utilize cash resources more quickly than anticipated; losses due to
economic or market events may be greater than expected; Tango has
limited experience conducting clinical trials (and will rely on a
third party to operate its clinical trials) and may not be able to
commence the clinical trial (including opening clinical trial sites
and enrolling and dosing an adequate number of clinical trial
participants) when expected and may not generate results (including
final or initial safety, efficacy data and proof-of-mechanism) in
the anticipated timeframe (or at all); benefits of product
candidates seen in preclinical analyses may not be evident when
tested in clinical trials or when used in broader patient
populations (if approved for commercial sale); the benefits of
Tango pipeline products, development candidates and potential
combination therapies that are seen in pre-clinical experiments may
not be present in clinical trials or in use commercially or may not
be safe and/or effective in humans; Tango has a limited operating
history and has not generated any revenue to date from product
sales, and may never become profitable; other companies may be able
to identify and develop product candidates more quickly than the
Company and commercially introduce the product prior to the
Company; the Company’s proprietary discovery platform is novel and
may not identify any synthetic lethal targets for future
development; the Company may not be able to identify development
candidates on the schedule it anticipates due to technical,
financial or other reasons; the Company may not be able to file
INDs for development candidates on time, or at all, due to
technical or financial reasons or otherwise; Tango will need to
raise capital in the future and if we are unable to raise capital
when needed or on attractive terms, we would be forced to delay,
scale back or discontinue some of our development programs or
future commercialization efforts; we may be unable to advance our
preclinical development programs into and through the clinic for
safety or efficacy reasons or commercialize our product candidates
or we may experience significant delays in doing so as a result of
factors beyond Tango’s control; the Company may not be able to
realize the benefits of fast track designation (and such
designation may not advance any anticipated approval timelines);
Tango’s approach to the discovery and development of product
candidates is novel and unproven, which makes it difficult to
predict the time, cost of development, and likelihood of
successfully developing any products; Tango may not identify or
discover additional product candidates or may expend limited
resources to pursue a particular product candidate or indication
and fail to capitalize on product candidates or indications that
may be more profitable or for which there is a greater likelihood
of success; our products candidates may cause adverse or other
undesirable side effects (or may not show requisite efficacy) that
could, among other things, delay or prevent regulatory approval;
our dependence on third parties for conducting clinical trials and
producing drug product; our ability to obtain and maintain patent
and other intellectual property protection for our technology and
product candidates or the scope of intellectual property protection
obtained is not sufficiently broad; and delays and other impacts on
product development and clinical trials from the COVID-19 pandemic.
Additional information concerning risks, uncertainties and
assumptions can be found in Tango’s filings with the SEC, including
the risk factors referenced in Tango’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2021, as supplemented and/or
modified by its most recent Quarterly Report on Form 10-Q. You
should not place undue reliance on forward-looking statements in
this presentation, which speak only as of the date they are made
and are qualified in their entirety by reference to the cautionary
statements herein. Tango specifically disclaims any duty to update
these forward-looking statements.
Investor Contact:Sam MartinArgot
Partnerstango@argotpartners.com
Media Contact:Andrew VulisArgot Partners
tango@argotpartners.com
Tango Therapeutics (NASDAQ:TNGX)
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