Tango Therapeutics Inc. (TNGX) experienced a pre-market plunge of 7.11% following the release of its fourth-quarter financial results.

The biotechnology firm reported a net loss of $38.7 million for the quarter, compared to a loss of $30.8 million a year earlier. Notably, the company recorded no collaboration revenue for the period, a significant drop from the $5.4 million generated in the same quarter of the previous year. While the loss per share narrowed to $0.29 from $0.32, the widening absolute net loss and absence of revenue likely contributed to negative investor sentiment.

Despite the disappointing quarterly figures, the company highlighted a robust cash position of $343.1 million, which it expects to fund operations into 2028. Tango also announced a new clinical collaboration with Erasca to evaluate its PRMT5 inhibitor vopimetostat in combination with Erasca's pan-RAS molecular glue ERAS-0015, though this positive development was overshadowed by the earnings miss.