(RTTNews) - Tango Therapeutics, Inc. (TNGX) fell 7.97% to $7.97, down $0.69, after announcing the pricing of an underwritten offering and concurrent PIPE expected to raise approximately $225 million.
The financing includes over 21 million shares at $8.66 each and pre-funded warrants, with closing anticipated on or about October 24, 2025. Earlier, the company reported positive interim data from its ongoing Phase 1/2 study of TNG462 and related programs, showing encouraging activity and tolerability in patients with MTAP-deleted cancers. The additional capital is expected to strengthen Tango's cash position and support its precision oncology pipeline, though the offering has sparked dilution concerns.
On Thursday, TNGX opened at $8.90, reached a high of $9.20, and a low of $7.85, compared to the previous close of $8.66 on the Nasdaq. Trading volume surged well above average levels. The stock's 52-week range is $7.80 - $12.45.
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