Shares of Tango Therapeutics (TNGX) are up $1.50, or 14%, to $12.07 after Bloomberg reported that Sanofi (SNY) has been studying a potential acquisition of rival cancer drug maker Mirati Therapeutics (MRTX). Previously, in August, H.C. Wainwright raised the firm’s price target on Tango Therapeutics, arguing at the time that Mirati Therapeutics’ initial dose escalation results for its MTAP-cooperative PRMT5 inhibitor, MRTX1719, derisked Tango’s TNG908 and TNG462.
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Read More on TNGX:
- Tango Therapeutics receives clearance from FDA for TNG348
- Tango Therapeutics Announces FDA Clearance of Investigational New Drug Application for TNG348, a Novel USP1 Inhibitor for the Treatment of BRCA1/2-mutant and Other HRD+ Cancers
- Tango Therapeutics files to sell 15.5M shares of common stock for holders
- Tango Therapeutics Announces Updates to Its Board of Directors
- Medicenna Therapeutics appoints Jeff Caravella as CFO