By Kit Norton
Shares of Tango Therapeutics surged toward a record closing high on Monday after the cancer biotech company announced positive initial data from an ongoing study of treatments for pancreatic ductal adenocarcinoma, the most common and aggressive form of pancreatic cancer.
Tango Therapeutics stock soared 42% to $28.74 on Monday, part of a 217% advance this year. Over the past 12 months, the biotech stock has skyrocketed 574%.
The Boston-based clinical-stage biotech company Monday released initial data from its ongoing Phase 1/2 study of its cancer drug vopimetostat in combination with the company Revolution Medicines' zoldonrasib or daraxonrasib for patients with advanced MTAP-deleted and RAS-mutant metastatic pancreatic ductal adenocarcinoma, or non-small cell lung cancer.
The results showed that a combination of vopimetostat and daraxonrasib produced a 92% objective response rate in pancreatic cancer patients, with a 90% six-month progression-free survival rate and 100% disease control. That means the treatment resulted in tumor size reduction or disease stabilization in nearly all studied patients.
The drug combination also showed a 100% response rate in a small group of patients with non-small cell lung cancer.
In the separate vopimetostat and zoldonrasib pancreatic cancer arm group, there was a 52% response rate, 74% six-month progression-free survival rate, and 96% disease control.
The drug combinations were generally well tolerated in the ongoing study, with few major side effects reported.
"The results from our ongoing combination trial dramatically exceeded our expectations," Tango Therapeutics CEO Malte Peters said on a conference call Monday.
Peters added that Tango's "primary focus is now to bring forward" the vopimetostat and daraxonrasib combination "approach in pancreatic cancer."
The CEO also said that upcoming data releases for its vopimetostat single agent in lung cancer and its TNG456 therapy in glioblastoma represent "significant long-term opportunity" for the company.
Wall Street reacted positively to the data, signaling to analysts that Tango's vopimetostat could become a late-stage pancreatic cancer program.
B. Riley Securities analyst Yuan Zhi raised his Tango Therapeutics price target to $35 from $21 on Monday, and maintained a Buy rating on the stock.
Zhi called the 92% objective response rate in pancreatic cancer patients from the combination of vopimetostat and daraxonrasib "unprecedented." He added that these initial results leave Tango Therapeutics "undervalued at current levels."
Overall, Wall Street appears quite bullish on Tango Therapeutics. Of the 12 firms polled by FactSet, Tango Therapeutics has an average Buy rating and a $35.09 price price target. That average price target currently represents 22% upside.
Write to Kit Norton at kit.norton@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 08, 2026 12:28 ET (16:28 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments