Core Insights - Terns Pharmaceuticals, Inc. has appointed Andrew Gengos as the new Chief Financial Officer, effective immediately, bringing 25 years of leadership experience in the biotech sector [1][2][3] Company Overview - Terns Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing small-molecule product candidates targeting serious diseases, including oncology and obesity [4] - The company's pipeline includes three clinical-stage development programs: an allosteric BCR-ABL inhibitor, a small-molecule GLP-1 receptor agonist, and a THR-β agonist, along with a preclinical GIPR modulator discovery effort [4] Leadership and Experience - Andrew Gengos has a strong background in finance and corporate strategy, having previously served as CFO of Athira Pharma and held leadership roles at Cyteir Therapeutics, ImmunoCellular Therapeutics, and Neuraltus Pharmaceuticals [3] - Gengos has experience in leading teams in the life sciences and biotechnology industry, with a notable tenure at Amgen as Vice President of Strategy and Corporate Development [3]

Core Insights - Terns Pharmaceuticals has appointed Robert Azelby to its Board of Directors, bringing 25 years of strategic, operational, and commercial expertise in the biotechnology sector [1][2] - Carl Gordon is stepping down from the Board after over seven years of service, having played a foundational role in the company's development [1][2] Company Overview - Terns Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing small-molecule product candidates targeting serious diseases, including oncology and obesity [4] - The company's pipeline includes three clinical-stage development programs: an allosteric BCR-ABL inhibitor, a small-molecule GLP-1 receptor agonist, and a THR-β agonist, along with a preclinical GIPR modulator discovery effort [4] Leadership Experience - Robert Azelby has over 30 years of experience in the biopharmaceutical industry, having held leadership positions at Eliem Therapeutics, Alder BioPharmaceuticals, and Juno Therapeutics, among others [3] - His previous roles include serving as chief executive officer and various executive positions at Amgen, where he focused on oncology [3] Strategic Direction - The appointment of Mr. Azelby is expected to enhance Terns' strategic and operational leadership, particularly as the company prepares for late-stage studies of its lead oncology program, TERN-701, in chronic myeloid leukemia [2] - The company aims to advance its lead oncology and obesity programs towards significant clinical readouts later in the year [2]

Core Viewpoint - Terns Pharmaceuticals, Inc. is actively participating in the Oppenheimer 35th Annual Healthcare Life Sciences Conference, showcasing its commitment to addressing serious diseases through its clinical-stage biopharmaceutical portfolio [1]. Company Overview - Terns Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing small-molecule product candidates targeting serious diseases, particularly in oncology and obesity [3]. - The company's pipeline includes three clinical-stage development programs: an allosteric BCR-ABL inhibitor, a small-molecule GLP-1 receptor agonist, and a THR-β agonist, along with a preclinical GIPR modulator discovery effort prioritizing a GIPR antagonist nomination candidate [3]. Event Details - Senior management from Terns Pharmaceuticals will present at the Oppenheimer 35th Annual Healthcare Life Sciences Conference on February 12, 2025, at 4:00 p.m. ET [1]. - A live webcast of the event will be available on the investor relations page of Terns Pharmaceuticals' website, with a replay archived for at least 30 days [2].

Core Viewpoint - Terns Pharmaceuticals, Inc. is set to present at the 43rd Annual J.P. Morgan Healthcare Conference on January 15, 2025, showcasing its clinical-stage biopharmaceutical developments targeting serious diseases such as oncology and obesity [1]. Company Overview - Terns Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing small-molecule product candidates for serious diseases, including oncology and obesity [3]. - The company's pipeline includes three clinical-stage development programs: an allosteric BCR-ABL inhibitor, a small-molecule GLP-1 receptor agonist, and a THR-β agonist, along with a preclinical GIPR modulator discovery effort prioritizing a GIPR antagonist nomination candidate [3]. Presentation Details - A live webcast of the presentation will be available on the investor relations page of Terns Pharmaceuticals' website, with a replay archived for at least 30 days following the event [2].

Core Insights - Terns Pharmaceuticals Inc.'s stock increased by 14% following the release of positive data on a treatment for chronic myeloid leukemia [1] - Analysts from Mizuho, Graig Suvannavejh and Avantika Joshi, expressed optimism regarding the early-stage trial results of TERN-701 [1]

Core Insights - Terns Pharmaceuticals has appointed Heather Turner, J.D., to its Board of Directors, effective immediately, while Ann E. Taylor, M.D., is stepping down after over three years of service [1][2] Company Overview - Terns Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing small-molecule product candidates targeting serious diseases, including oncology and obesity [3] - The company's pipeline includes three clinical-stage development programs: an allosteric BCR-ABL inhibitor, a small-molecule GLP-1 receptor agonist, and a THR-β agonist, along with a preclinical GIPR modulator discovery effort [3] Leadership Changes - Heather Turner brings 25 years of biotechnology experience, including her recent role as CEO of Carmot Therapeutics, which was acquired by Roche for $3.1 billion [2] - The CEO of Terns, Amy Burroughs, expressed confidence in Turner's ability to contribute to the company's strategic decisions and growth [2]

Drug Development - TERN-701, an allosteric BCR-ABL inhibitor for chronic myeloid leukemia, showed a median half-life of 8 to 12 hours and received Orphan Drug Designation in March 2024[77]. - TERN-601, a GLP-1 receptor agonist for obesity, demonstrated a maximum placebo-adjusted mean weight loss of 4.9% (p<0.0001) at the highest dose of 740 mg QD in a Phase 1 trial[77]. - TERN-501, a THR-β agonist, showed positive top-line data in a Phase 2a trial but spending will be limited due to regulatory requirements[77]. - TERN-800 series is focused on developing GIPR modulators for obesity, with a potential for combination therapies with GLP-1 receptor agonists[78]. - The company plans to initiate a Phase 2 clinical trial for TERN-601 in early Q2 2025, with initial data expected in the second half of 2025[77]. Financial Performance - Research and development expenses for Q3 2024 were $15,169,000, a 2.3% increase from $14,831,000 in Q3 2023[79]. - Total operating expenses for Q3 2024 were $24,939,000, down from $33,184,000 in Q3 2023, reflecting a decrease of 25%[79]. - The net loss for Q3 2024 was $21,945,000, compared to a net loss of $29,767,000 in Q3 2023, indicating an improvement of 26.4%[79]. - Total research and development expenses for the nine months ended September 30, 2024, were $52,108,000, up from $46,038,000 in the same period of 2023, reflecting a 13.5% increase[84]. - The company reported a net loss of approximately $67.1 million for the nine months ended September 30, 2024, with negative cash flows from operations of approximately $55.4 million[93]. Cash and Financing - As of September 30, 2024, the company had an accumulated deficit of approximately $399.7 million and cash, cash equivalents, and marketable securities totaling $372.8 million[93]. - Net cash provided by financing activities during the nine months ended September 30, 2024, was $163.7 million, primarily from the issuance of common stock and pre-funded warrants[108]. - The company issued 14,064,048 shares of common stock at a public offering price of $10.50 per share in September 2024, resulting in aggregate net proceeds of $161.9 million[96]. - Cash used in operating activities for the nine months ended September 30, 2024, was $55.4 million, consisting mainly of the net loss and adjustments for stock-based compensation[103]. - The company expects to incur significant operating losses for the foreseeable future as it advances the development of its product candidates[99]. - The company believes its existing cash and cash equivalents will be sufficient to fund planned operating expenses and capital expenditures into 2028[91]. - The company has not generated any revenue from product sales since inception and continues to rely on additional financing to achieve its business objectives[102]. General and Administrative Expenses - General and administrative expenses decreased by $8.6 million for the three months ended September 30, 2024, compared to the same period in 2023, primarily due to a reduction in personnel-related expenses[87]. - Interest income for the three months ended September 30, 2024, was $3.1 million, down from $3.5 million in the same period in 2023, attributed to a decrease in marketable securities[88].

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FOSTER CITY, Calif., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. ("Terns" or the "Company") (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of smallmolecule product candidates to address serious diseases, including oncology and obesity, today announced the closing of its previously announced underwritten public offering of 14,064,048 shares of its common stock, including 2,145,000 shares sold pursuant to the underwriters' exercise in full of their option ...