Why Tango Therapeutics Shares Rose 39.7% This Week
Shares of Tango Therapeutics (NASDAQ: TNGX), a biotech company that specializes in target cancer therapies, rose 39.7% this week, according to data from S&P Global Intelligence. The stock closed at $5.17 last Friday, then opened at $5.34 on Monday. Its shares climbed throughout the week and rose to as high as $7.49 before closing at $7.25 on Friday. The stock has a 52-week low of $3.18 and a high of $14.31 and is down more than 37% this year.
The company announced on Wednesday that preclinical information on two of its drug candidates in its pipeline would be presented at a symposium on cancer therapeutics in Barcelona later this month.
The company's lead therapy, TNG908, is enrolling patients in an ongoing phase 1/2 trial to treat malignant peripheral nerve sheath tumors. The other candidate, TNG462, is being investigated to treat multiple tumor types. Both therapies attempt to fix mutated methylthioadenosine phosphorylase (MTAP) genes that make them less resistant to tumors.
Source Fool.com
