HC Wainwright Starts Coverage on This Small-Cap Cancer Focused Stock

HC Wainwright initiated coverage on Tango Therapeutics Inc TNGX with a Buy rating and a price target of $10 per share.
Tango is a next-generation cancer-focused biotech company primarily focusing on synthetically lethal targets that could address sizable patient populations, including:
- MTAP-null solid tumors with TNG908/TNG462.
- STK11-mutant NSCLC, with TNG260.
- BRCA-mutant solid tumors, with the company's USP1 inhibitor.
The analyst notes that most pipeline assets are slated to enter the clinic in 2023. TNG908 is being evaluated in a Phase 1/2 trial with three dose expansion cohorts.
It forecasts that total peak sales of TNG908/TNG462, TNG260, and the company's USP1 inhibitor could reach roughly $5 billion in non-risk adjusted sales by 2030, with the initial launch occurring in the 2026 time frame.
The company could achieve blockbuster annual sales driven by these compounds as early as 2028. The analyst views the company's agents could be priced in the $14K/month range, in line with the pricing observed for other synthetically lethal agents.
Price Action: TNGX shares are down 1.15% at $6.90 on the last check Thursday.