Tango Therapeutics prices $600 million public offering at $30 per share

Tango Therapeutics Inc. (NASDAQ: TNGX) announced the pricing of an underwritten public offering of 18,166,667 shares of common stock and pre-funded warrants to purchase up to 1,833,395 shares at $30.00 per share. The pre-funded warrants are priced at $29.999 each, representing the share price minus the $0.001 exercise price.

The clinical-stage biotechnology company expects gross proceeds of approximately $600 million before underwriting discounts and offering expenses. The offering is scheduled to close on or around June 11, 2026, subject to standard closing conditions.

Tango has granted underwriters a 30-day option to purchase up to an additional 3,000,009 shares at the public offering price, less underwriting discounts. All shares and warrants in the offering will be sold by the company.

J.P. Morgan, Leerink Partners, Cantor and Stifel are serving as joint bookrunning managers for the offering.

The offering is being conducted under an effective shelf registration statement previously filed with the Securities and Exchange Commission. The company has filed a preliminary prospectus supplement and free writing prospectus with the SEC, with a final prospectus supplement to follow.

Tango Therapeutics focuses on discovering and developing precision cancer medicines using synthetic lethality principles to identify drug targets. The Boston-based company leverages genetic approaches to develop therapies targeting critical cancer pathways.

The information is based on a company press release statement.

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