Tango Therapeutics (NASDAQ: TNGX) is a biopharmaceutical company. It develops cancer therapies that target specific genetic weaknesses in cancer cells. On June 8, 2026, Wolfe Research upgraded its rating on Tango Therapeutics to Outperform. The stock price was $29.23 at the time of the upgrade.
This new rating follows positive initial data from the company's Phase 1/2 trial. As highlighted by Reuters, the study involves a drug combination for advanced pancreatic cancer. Following the promising results, Tango Therapeutics plans to advance the treatment into late-stage testing for first-line use.
The trial combines vopimetostat with daraxonrasib. According to Globenewswire, it showed a 92% objective response rate in patients. This rate measures the percentage of patients whose tumors shrink or disappear after treatment. This suggests the drug combination is highly effective against this type of cancer.
The study also showed a 90% progression-free survival rate at six months. This means that for 90% of patients, their cancer did not worsen for at least half a year. This data indicates that the treatment provides a lasting clinical benefit for patients.
The market reacted strongly to the news. As reported by Benzinga, shares of Tango Therapeutics jumped 34.1% to $27.12 on the day of the announcement. The stock reached a new 52-week high of $30.49, with its market value increasing to approximately $3.35 billion.
