Tango Therapeutics Reports Third Quarter 2021 Financial Results and Provides Business Highlights Strong cash position of $504 million supports advancing discovery and clinical pipeline into second half of 2024 On track f

Tango Therapeutics Reports Third Quarter 2021 Financial Results

and Provides Business Highlights

Strong cash position of $504 million supports advancing discovery and clinical pipeline into second half of 2024

On track for IND filing in fourth quarter of 2021 for TNG908, an MTA-cooperative PRMT5 inhibitor that is synthetic lethal with MTAP

deletion, for multiple cancers

CAMBRIDGE, Mass. November 9, 2021 Tango Therapeutics, Inc. (NASDAQ: TNGX), a

biotechnology company committed to discovering and delivering the next generation of precision cancer medicines, reported its financial results for the third quarter ended September 30, 2021 and provided business highlights.

This quarter was highlighted by our transition to a public company. We are pleased to have successfully completed the business combination with BCTG

Acquisition Corp. (BCTG), and raised sufficient capital to fund operations into the second half of 2024, said Barbara Weber, M.D., President and Chief Executive Officer of Tango Therapeutics. We are focused on progressing our pipeline,

and in particular, advancing our lead program, an MTAP-selective PRMT5 inhibitor, TNG908, into the clinic in the first half of 2022. An additional highlight of this quarter, and in of support of our advancing development programs, we are pleased to

welcome Dr. Marc Rudoltz as Chief Medical Officer.

Recent Business Highlights

September 30, 2021, the Company held $503.8 million in cash, cash equivalents and marketable securities, which the company believes to be sufficient to fund operations into the second half of 2024.

Collaboration revenue was $6.8 million for the three months ended September 30, 2021 compared to $(11.3) million for the same period in 2020, which

was derived from the Gilead collaboration. The increase was primarily due to the charge against revenue of $11.3 million driven by the amendment to the collaboration agreement with Gilead during the third quarter of 2020. The amendment resulted

in a change to the transaction price and a cumulative catch-up adjustment to the revenue previously recognized from the Gilead collaboration.

Research and development expenses were $21.9 million for the three months ended September 30, 2021 compared to $13.0 million for the same

period in 2020. The increase was primarily due to expenses relating to our lead product candidate, TNG908, and the advancement of our other drug discovery programs, as well as personnel-related costs, including stock-based compensation, consulting

and professional fees.

General and administrative expenses were $4.4 million for the three months ended September 30, 2021, compared to

$2.5 million for the same period in 2020. The increase was primarily due to personnel-related costs, including stock-based compensation.

for the three months ended September 30, 2021, was $19.6 million, or $0.28 per share, compared to a net loss of $26.8 million, or $0.76 per share, in the same period in 2020.

About Tango Therapeutics

Tango Therapeutics is a

biotechnology company dedicated to discovering novel drug targets and delivering the next generation of precision medicine for the treatment of cancer. Using an approach that starts and ends with patients, Tango leverages the genetic principle of

synthetic lethality to discover and develop therapies that take aim at critical targets in cancer. This includes expanding the universe of precision oncology targets into novel areas such as tumor suppressor gene loss and their contribution to the

ability of cancer cells to evade immune cell killing. For more information, please visit www.tangotx.com.

Forward-Looking Statements

Certain statements in this press release may be considered forward-looking statements. Forward-looking statements generally relate to future events,

Tango s future operating performance, goals, expectations, beliefs and development objectives for Tango s product pipeline. In some cases, you can identify forward-looking statements by terminology such as may ,

should , expect , intend , will , goal , estimate , anticipate , believe , predict , potential or continue , or the negatives

of these terms or variations of them or similar terminology. For example, statements concerning the following include or constitute forward-looking statements: the Company s strong cash position (of $504 million) will support clinical

and discovery pipeline advancement, and operations, into second half of 2024; the Company will make an IND filing in fourth quarter of 2021 (and expects to commence clinical trials in the first half of 2022) for TNG908, an MTA-cooperative PRMT5 inhibitor that is synthetic lethal with MTAP deletion for multiple cancers; the Company will continue to advance its development programs in the future; and the potential applicability of

synthetic lethal drug targeting across a range of cancer types, including TNG908. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or

implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Tango and its management are inherently uncertain. New risks and uncertainties may emerge from

time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: Tango has a limited operating history and has not

generated any revenue to date from drug sales, and may never become profitable; Tango will need to raise capital in the future and if we are unable to raise capital when needed or on attractive terms, we would be forced to delay, scale back or

discontinue some of our development programs or future commercialization efforts; Tango may need to spend additional cash resources more quickly than expected to advance our product candidates and conduct clinical trials; we may be unable to advance

our preclinical development programs into and through the clinic for safety or efficacy reasons or commercialize our product candidates or we may experience significant delays in doing so as a result of factors beyond Tango s control;

Tango s approach to the discovery and development of product candidates is novel and unproven, which makes it difficult to predict the time, cost of development, and likelihood of successfully developing any products; Tango may not identify or

discover additional product candidates or may expend limited resources to pursue a particular product candidate or indication and fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater

likelihood of success; our products candidates may cause adverse or other undesirable side effects that could, among other things, delay or prevent regulatory approval; our dependence on third parties for conducting clinical trials and producing

drug product; our ability to obtain and maintain patent and other intellectual property protection for our technology and product candidates or the scope of intellectual property protection obtained is not sufficiently broad;

and delays and other impacts on product development and clinical trials from the COVID-19 pandemic. Additional information concerning risks, uncertainties

and assumptions can be found in Tango s filings with the SEC, including the risk factors referenced in Tango s Prospectus as filed with the SEC pursuant to Rule 424(b)(3) on October 8, 2021. You should not place undue

reliance on forward-looking statements in this presentation, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Tango specifically disclaims any duty to update these

forward-looking statements.

Condensed Consolidated Statement of Operations

(In thousands, except share data)

Condensed Consolidated Balance Sheets