$80 million financing for Tango Therapeutics

14 August 2023
tango_therapeutics_company

Shares of US biotech Tango Therapeutics (Nasdaq: TNGX), which went public in 2021 via a merger with special-purpose acquisition company (SPAC) BCTG Acquisition, shot up almost 15% to $7.51 after it announced a $80 million financing.

Tango has agreed to sell around 15.5 million shares of its common stock or pre-funded warrants in lieu thereof, to a select group of institutional and accredited healthcare specialist investors in a private investment in public equity (PIPE) financing, at a per share price of $5.15.

Gross proceeds from the private placement are anticipated to be about $80 million, before deducting any offering-related expenses.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Biotechnology