Oct. 23 at 3:20 PM
💥
$TNGX tanks after a
$210M equity offering. Tango Therapeutics announced a massive share sale at
$8.66/share, triggering dilution fears that sent the stock -15% intraday before stabilizing around
$8.05 (-7%).
🧬 The biotech, focused on precision cancer therapies using synthetic lethality, pulled in
$225M total through public and PIPE deals, backed by heavyweights like Farallon Capital, T. Rowe Price, Balyasny, and Adage.
⚗️ Despite short-term pain, Wall Street’s still bullish — analysts see upside with an avg PT of
$10.88 and promising drug pipeline:
TNG462: PRMT5 inhibitor (pancreatic & lung cancer)
TNG456: brain-penetrant PRMT5 (glioblastoma)
TNG260: immune evasion target
📉 Big dilution today, but long-term traders are watching
$TNGX for a possible biotech bounce once the smoke clears.
