Tango Therapeutics Second Quarter 2024 Earnings: Beats Expectations

Tango Therapeutics (NASDAQ:TNGX) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$19.9m (up 36% from 2Q 2023).
• Net loss: US$25.6m (loss widened by 23% from 2Q 2023).
• US$0.24 loss per share (further deteriorated from US$0.23 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Tango Therapeutics Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 160%. Earnings per share (EPS) also surpassed analyst estimates by 27%.

Looking ahead, revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in the US.

Performance of the American Biotechs industry.

The company's shares are down 5.7% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for Tango Therapeutics (1 is a bit unpleasant!) that you need to take into consideration.

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