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Cantor Fitzgerald said it sees Tango Therapeutics (NASDAQ:TNGX) benefitting from Ideaya’s (IDYA) positive Phase 2 data for its MAT2A inhibitor IDE397 in the treatment of non-small cell lung and urothelial cancers.
The investment bank noted that IDE397 works on the same pathway as Tango’s PRMT5 inhibitors TNG462 and TNG908.
Cantor said Ideaya’s data provided additional evidence that targeting the SDMA pathway was a “viable approach to treating MTAP-deleted cancers.”
“While IDEAYA’s MAT2A inhibitor produced encouraging data, there is no reason to believe PRMT5 inhibition won’t be as good, or even better,” Cantor added in its note.
The investment firm also said Ideaya’s dataset suggested a potential path forward in the treatment of squamous cell lung cancer and urothelial cancer, which Tango has said are among the most sensitive PRMT5 inhibition.
“Hence, we would expect Tango to be in a position to have a good read on TNG462 and TNG908’s activity in these relevant tumor types when data are provided later this year,” Cantor added.
Cantor has an overweight rating on Tango. It does not cover Ideaya.