Core Insights - Terns Pharmaceuticals, Inc. (NASDAQ:TERN) is recognized as one of the top 14 stocks to buy currently, with a Buy rating and a price target of $56 from Truist Financial analyst Srikripa Devarakonda [1] - The stock's price target was raised from $35 to $56 following positive Phase 1 study results for TERN-701, aimed at treating chronic myeloid leukemia (CML) [2] - The study demonstrated a 64% major molecular response rate at 24 weeks, indicating strong efficacy and safety, which has led to a bullish outlook from analysts [3] Analyst Ratings - Mizuho Securities also maintains an Outperform rating on Terns Pharmaceuticals with a price target of $54, viewing TERN-701 as a potential best-in-disease treatment for CML [3] - The consensus among Wall Street analysts is a Strong Buy rating, with shares having increased over 300% in the last three months [4] - Analysts project an additional upside of 42.31%, based on a one-year average share price target of $53.75 [4] Company Overview - Terns Pharmaceuticals is a biopharmaceutical company focused on developing treatments for serious diseases, including cancer and obesity [5] - The company aims to initiate pivotal trials for TERN-701 by the end of 2026, as stated by CEO Amy Burroughs [4]

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Core Insights - Terns has had a successful year in 2025 and anticipates continued excitement in 2026, with the potential to become a best-in-disease therapy in the CML market [3] - The company has demonstrated unprecedented efficacy along with a strong safety and tolerability profile, positioning itself for the next generation of CML therapies [3] - Terns plans to engage with the FDA to discuss trial design and aims to initiate second-line and first-line trials promptly [4] Financial Position - Terns currently holds $1 billion in cash on its balance sheet, providing a strong financial foundation for upcoming trials and initiatives [4]

Summary of Terns Pharmaceuticals FY Conference Call Company Overview - **Company**: Terns Pharmaceuticals (NasdaqGS:TERN) - **Event**: FY Conference Call on January 12, 2026 - **Key Speakers**: Amy Burroughs (CEO), Emil Kuriakose (CMO), Scott Harris (CDO) [1] Industry Context - **Industry**: Chronic Myeloid Leukemia (CML) treatment - **Current Market Dynamics**: - CML was previously a fatal disease until the introduction of BCR-ABL inhibitors like Gleevec (Imatinib) in 2001 - Asiminib, an allosteric inhibitor, gained a 22% market share in the front-line treatment within three quarters of its approval in November 2024 [4][5] Core Points and Arguments - **Performance in 2025**: Terns had a successful year and anticipates continued success in 2026, aiming to establish itself as a leader in CML therapy [2] - **Financial Position**: Terns has $1 billion in cash, alleviating financing concerns until commercial launch [3] - **Efficacy of Terns 701**: - Terns 701 shows unprecedented efficacy with a 75% major molecular response (MMR) rate in a highly refractory patient population [6][9] - Deep molecular response (DMR) rate of 36% at recommended doses [7] - Comparison with Asiminib indicates Terns 701 may outperform in both efficacy and safety [10][20] - **Safety Profile**: - No dose-limiting toxicities observed; majority of adverse events were low-grade [9][11] - Terns 701 does not exhibit the pancreatic toxicity (20%) or hypertension (18%) seen with Asiminib [5][6] - Administered once daily without food restrictions, enhancing patient convenience [9][26] Market Opportunities - **Potential for Terns 701**: - Positioned as a next-generation therapy with better efficacy and safety compared to existing treatments [10][25] - Anticipated to capture significant market share in the front-line treatment of CML [25][26] - **Regulatory Pathway**: - Plans to engage with the FDA for trial design and dose selection in 2026 [22][29] - A second-line plus trial is expected to be initiated, with confidence in achieving MMR as a primary endpoint [22][23] Additional Insights - **Patient Population**: - High baseline disease burden among trial participants, with 64% showing lack of efficacy to previous treatments [12][13] - Notable patient cases demonstrate Terns 701's effectiveness in individuals resistant to Asiminib [18][19] - **Future Directions**: - Terns plans to open a mutation cohort for patients with specific mutations, enhancing the understanding of Terns 701's efficacy [21] - Additional data releases and longer-term safety studies are anticipated in 2026 [26][27] Conclusion - Terns Pharmaceuticals is positioned to make significant advancements in CML treatment with Terns 701, backed by strong efficacy and safety data, a solid financial foundation, and strategic regulatory plans for 2026 [27]

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgency to invest now [1][13] - The energy demands of AI technologies are significant, with data centers consuming as much energy as small cities, leading to concerns about power grid strain and rising electricity prices [2][3] Investment Opportunity - A specific company is highlighted as a critical player in the AI energy sector, owning essential energy infrastructure assets that are poised to benefit from the increasing energy demands of AI [3][7] - This company is not a chipmaker or cloud platform but is positioned to profit from the surge in electricity demand driven by AI data centers [3][6] Market Position - The company is described as a "toll booth" operator in the AI energy boom, collecting fees from energy exports and benefiting from the onshoring trend due to tariffs [5][6] - It has a unique footprint in nuclear energy, which is considered vital for America's future power strategy [7][14] Financial Health - The company is noted for being debt-free and holding a significant cash reserve, amounting to nearly one-third of its market capitalization, which positions it favorably compared to other energy firms burdened by debt [8][10] - It also has a substantial equity stake in another AI-related company, providing indirect exposure to multiple growth engines without the associated premium costs [9][10] Market Sentiment - There is a growing interest from Wall Street in this company, as it is seen as undervalued and capable of delivering real cash flows while owning critical infrastructure [8][10] - The company is trading at less than 7 times earnings, making it an attractive investment opportunity in the context of AI and energy [10][11] Future Outlook - The influx of talent into the AI sector is expected to drive rapid advancements and innovation, reinforcing the notion that investing in AI is backing the future [12][13] - The combination of AI infrastructure needs, energy demands, and the onshoring boom presents a unique investment landscape that this company is well-positioned to navigate [14][15]

Financial Position - Terns Pharmaceuticals has approximately $1.0 billion in cash, cash equivalents, and marketable securities as of year-end 2025, expected to provide a runway into 2031[1]. - Terns completed a public offering of 18,687,500 shares, generating gross proceeds of approximately $747.5 million before expenses[7]. Clinical Trials and Drug Development - The CARDINAL Phase 1/2 trial of TERN-701 is enrolling well, with over 85 patients enrolled as of December 8, 2025[7]. - TERN-701 achieved a major molecular response (MMR) rate of 75% (18/24) by 24 weeks in evaluable patients at the recommended phase 2 dose range of >320mg QD, significantly higher than asciminib[7]. - The company plans to select a pivotal dose for TERN-701 in mid-2026 and initiate a pivotal trial in late 2026 or early 2027[3]. - TERN-701 has been granted U.S. FDA Fast Track designation for the treatment of chronic myeloid leukemia (CML) in Q4 2025[1]. - The company aims to generate data that strengthens TERN-701's position as a potential best-in-disease therapy across all lines of CML treatment[2]. - The majority of treatment-emergent adverse events (TEAEs) in the CARDINAL trial were low grade, with no dose-limiting toxicities observed[3]. - Updated and expanded CARDINAL data is expected to be released in the second half of 2026[3]. Strategic Partnerships - The company is seeking a strategic partner to advance the TERN-501 and TERN-801 legacy metabolic programs[7].

Core Insights - Terns Pharmaceuticals is advancing its lead program TERN-701, an allosteric BCR-ABL inhibitor for chronic myeloid leukemia (CML), with significant milestones planned for 2026 [1][3][8] - The company has reported strong enrollment in the CARDINAL Phase 1/2 trial and aims to initiate pivotal trials by late 2026 or early 2027 [1][2][3] - Terns has a robust financial position with approximately $1.0 billion in cash and marketable securities, expected to sustain operations into 2031 [1][8] Milestones and Clinical Development - Key milestones for TERN-701 in 2026 include pivotal dose selection and an End of Phase 2 regulatory interaction with the U.S. FDA [1][3] - The initiation of the first pivotal trial targeting the 2L+ patient population is anticipated in late 2026 or early 2027 [1][3] - The trial design includes evaluating TERN-701 against a control arm of second-generation TKIs, with major molecular response (MMR) at six months as the primary endpoint [3] Clinical Data and Efficacy - At the 67th ASH Annual Meeting, TERN-701 demonstrated a 75% MMR achievement rate by 24 weeks in evaluable patients, significantly higher than previous treatments [8] - The safety profile of TERN-701 is encouraging, with 87% of patients remaining on treatment and no dose-limiting toxicities observed [3][8] - The majority of treatment-emergent adverse events were low grade, with grade 3 or higher events occurring in less than 10% of patients [3] Financial Position and Corporate Updates - Terns completed a public offering in December 2025, raising approximately $747.5 million, enhancing its financial stability [8] - The company is exploring strategic partnerships to advance its legacy metabolic programs, TERN-501 and TERN-801 [8] - Terns is committed to rapidly advancing TERN-701 towards product launch to maximize its therapeutic and commercial potential [2]

Group 1 - Terns Pharmaceuticals, Inc. (NASDAQ:TERN) is recognized as a top performer, with a remarkable increase of 629.64 percent in 2025, driven by positive clinical trial results for its therapy candidate targeting chronic myeloid leukemia (CML) [1][2] - The therapy candidate, TERN-701, demonstrated a 64 percent improvement in the conditions of 63 enrolled CML patients after 24 weeks of treatment [1][2] - A major molecular response rate of 74 percent was observed at a higher dosage of 320 mg among the trial participants [2] Group 2 - Terns Pharmaceuticals successfully raised $747.5 million through the issuance of over 18.68 million shares to the public, with funds allocated for the development and commercial launch of TERN-701 [2] - The remaining proceeds from the fundraising will be utilized for working capital and other general corporate purposes [2]

Group 1: Palvella Therapeutics Inc. (PVLA) - Palvella is a clinical-stage biopharmaceutical company focused on developing therapies for rare diseases with no FDA-approved treatments [2] - Its lead product, QTORIN rapamycin, targets microcystic lymphatic malformations and has a multi-billion-dollar market opportunity if approved [2] - The stock rose from $25 on March 10, 2025, to a 52-week high of $114.69 on December 22, 2025, before pulling back to $99.88 [3] Group 2: Cidara Therapeutics Inc. (CDTX) - Cidara is developing a preventive therapy for influenza and has agreed to be acquired by Merck for $221.50 per share, totaling approximately $9.2 billion [4] - The stock was trading at $18.98 when profiled on November 21, 2024 [4] Group 3: Celcuity Inc. (CELC) - Celcuity is focused on targeted therapies for oncology, with its lead drug candidate Gedatolisib aimed at breast and prostate cancers [5] - The stock increased from $12.60 on December 4, 2024, to an all-time high of $112.64 on December 12, 2025, before retreating to $99.16 [6] Group 4: Nanobiotix (NBTX) - Nanobiotix is a late-stage clinical biotechnology company developing physics-based therapies for cancer [7] - Its lead candidate, NBTXR3, is undergoing a phase III study for head and neck squamous cell carcinoma, with interim data expected in the first half of 2027 [8] - The stock rose from $12.23 on September 19, 2025, to a high of $30.35 on October 13, 2025, before trading around $21 [10] Group 5: Terns Pharmaceuticals Inc. (TERN) - Terns Pharma is developing small-molecule candidates for serious diseases, with TERN-701 targeting chronic myeloid leukemia [12] - Recent data showed a 75% major molecular response rate among patients receiving higher doses [13] - The stock increased from $5.98 on August 6, 2025, to an all-time high of $48.26 on December 10, 2025, before pulling back to around $40 [14] Group 6: DBV Technologies S.A. (DBVT) - DBV Technologies is developing an epicutaneous immunotherapy for food allergies, with its lead product, the VIASKIN Peanut patch, showing positive results in a phase 3 study [15] - The company aims to submit a Biologics License Application in the first half of 2026, with potential sales of $1.5 billion by 2030 if approved [15] - The stock rose from $10.64 on October 2, 2025, to a high of $26.18 on December 17, 2025, before trading around $19 [16] Group 7: Nutex Health Inc. (NUTX) - Nutex Health reported a significant turnaround from a $424 million net loss in 2022 to a $59 million net income for the nine months ended September 30, 2025 [17] - Revenue increased from $219 million in 2022 to $723.6 million in the first nine months of 2025 [17] - The stock rose from $33.56 on November 25, 2024, to a 52-week high of $193.07 before closing at $182.23 [18] Group 8: Inhibrx Biosciences Inc. (INBX) - Inhibrx is developing biologic therapies for cancer, with Ozekibart showing significant improvement in progression-free survival in chondrosarcoma [19] - The company plans to submit a biologics license application for Ozekibart in the second quarter of 2026 [20] - The stock rose from $18.35 on July 8, 2025, to an all-time high of $94.57 on December 22, 2025, before trading around $77 [21] Group 9: GRAIL Inc. (GRAL) - GRAIL focuses on early cancer detection with its Galleri test, which is not yet FDA-approved [23] - The company expects to submit a PMA for the Galleri test in Q1 2026 [23] - The stock increased from $48.50 on September 26, 2025, to a high of $115.76 on November 25, 2025, before trading around $88 [24] Group 10: Cogent Biosciences Inc. (COGT) - Cogent is developing precision therapies for genetically defined diseases, with Bezuclastinib being its lead candidate [25] - The company submitted its first NDA to the FDA for Non-AdvSM, with additional submissions planned for GIST and advanced systemic mastocytosis [26] - The stock rose from $7.25 on July 2, 2025, to a 52-week high of $43.73 on December 8, 2025, before easing back to around $35 [26] Group 11: Sol-Gel Technologies Ltd. (SLGL) - Sol-Gel has two FDA-approved products for dermatological conditions and is developing investigational products [27] - A phase III trial for SGT-610 is ongoing, with results expected in Q4 2026 [28] - The stock rose from $7.26 on May 7, 2025, to a high of $52.26 on October 6, 2025, before trading around $43 [28] Group 12: Zenas BioPharma Inc. (ZBIO) - Zenas is focused on therapies for autoimmune diseases, with Obexelimab in phase 3 trials for IgG4-RD [29] - Positive data from a phase 2 trial in multiple sclerosis showed a 95% reduction in new lesions [30] - The stock rose from $8.79 on December 17, 2024, to a high of $44.60 on December 24, 2025, before pulling back to around $35 [31]

Company Overview - Terns Pharmaceuticals, Inc. (NASDAQ:TERN) specializes in developing small-molecule therapies for cancer and obesity, with key products including TERN-701 for chronic myeloid leukemia, TERN-501 for metabolic liver disease, and oral obesity treatments through TERN-601 and TERN-800 programs [2]. Recent Developments - On December 8, Terns Pharmaceuticals announced positive results for TERN-701, reporting a 64% major molecular response (MMR) rate in Phase 1 trials [2]. - The therapy achieved a 75% response rate at doses of 320 mg and above over a 24-week period, supporting these doses as the recommended Phase 2 doses [2]. - The Chief Medical Officer, Emil Kuriakose, highlighted a 36% durable molecular response (DMR) achievement rate by 24 weeks, indicating fast response kinetics and a favorable safety profile across all doses [2]. Market Performance - The stock of Terns Pharmaceuticals experienced significant volatility, rising from approximately $2 to around $48 before a slight pullback, indicating strong market interest and potential investor excitement [1].