BOSTON, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Tango Therapeutics, Inc. (NASDAQ:TNGX), a clinical-stage biotechnology company committed to discovering and delivering the next generation of precision cancer medicines, announced today the pricing of an underwritten offering of 21,023,337 shares of its common stock and pre-funded warrants to purchase up to 3,226,458 shares of its common stock (the "Offering"). The offering price of each share of common stock is $8.66. The offering price of each pre-funded warrant is $8.659, which represents the per share offering price for the common stock less the $0.001 per share exercise price for such pre-funded warrant. The gross proceeds from the Offering, before deducting underwriting discounts and commissions and offering-related expenses, are expected to be approximately $210 million. All of the shares and pre-funded warrants in the Offering are to be sold by Tango. The Offering is expected to close on or about October 24, 2025, subject to customary closing conditions. Investors in the Offering included Farallon Capital Management, TCGX, Balyasny Asset Management, Woodline Partners LP, Invus, Adage Capital Management LP, Boxer Capital Management, Logos Capital, Nantahala Capital, accounts advised by T. Rowe Price Investment Management, Inc., and a large institutional investor.

Leerink Partners and Cantor are acting as joint bookrunning managers for the Offering.

Concurrent with the Offering, Tango has entered into a securities purchase agreement for a private investment in public equity (the "PIPE"). Tango is selling an aggregate of 1,732,101 shares of its common stock at a price of $8.66 per share. The gross proceeds of the PIPE, before deducting any offering-related expenses, are expected to be approximately $15 million. The PIPE is expected to close on or about October 24, 2025, subject to customary closing ...