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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Getting in on the ground floor sounds like a great idea, but not if the building ends up crumbling. What is the hot, new, exciting, and fast-growing therapeutic area many drugmakers are trying to break into? If you guessed weight loss, you are right on the money. Therapies in this field, such as Eli Lilly's Zepbound and Novo Nordisk's Wegovy, are generating mouthwatering sales, so it's no wonder other companies are looking for a piece of the pie. It's not just prominent players in the industry, either: Many ...

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 ...

Shares of Terns Pharmaceuticals (TERN) , a clinical-stage company, soared 16.8% after the company announced positive top-line data from the early-stage single and multiple-ascending dose (SAD and MAD) obesity study. The phase I study evaluated the safety, tolerability, pharmacokinetics and pharmacodynamics of its investigational, oral, small-molecule GLP-1R agonist, TERN-601, dosed once daily in healthy adults with obesity or overweight. Terns Reports Superior Weight Reduction With TERN-601 Per the data rea ...

FOSTER CITY, Calif., Sept. 09, 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 that it has commenced a proposed underwritten public offering of $125 million of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its c ...

Terns Pharmaceuticals (TERN) Conference Call Summary Company Overview - Terns Pharmaceuticals focuses exclusively on small molecules with validated mechanisms of action in areas of high unmet need, particularly in metabolic diseases and oncology [5][6][10]. Key Highlights from the Conference Call Phase I Study of TURN-601 - TURN-601 is a novel oral GLP-1 receptor agonist developed for obesity treatment, showing promising results in a Phase I study [4][10]. - The study demonstrated a statistically significant mean weight loss of up to 5.5% from baseline, or 4.9% when adjusted for placebo [10][11]. - 67% of subjects lost 5% or more body weight at the highest dose of 740 mg [11][20]. - TURN-601 was well tolerated, with no dose interruptions or discontinuations due to treatment-related adverse events [11][25]. Distinct Properties of TURN-601 - TURN-601 has a flat pharmacokinetic (PK) curve, allowing for once-daily dosing with sustained target coverage [9][30]. - The drug exhibits low solubility and high gut permeability, resulting in prolonged absorption and a favorable safety profile [30][32]. - The manufacturing process is scalable with low cost of goods, making it accessible for a large patient population suffering from obesity [9][10]. Future Development Plans - Terns Pharmaceuticals plans to initiate Phase II trials for TURN-601 in 2025, based on the positive Phase I results [9][10][37]. - The company is evaluating multiple options for the Phase II trial design to ensure an efficient path to approval [10][37]. Market Context and Competitive Landscape - The obesity market is evolving towards monotherapy and combination agents, with Terns having two oral metabolic assets in development that can enhance the effects of GLP-1 receptor agonists [37][38]. - TURN-501, another asset, has shown preclinical data indicating enhanced weight loss when combined with GLP-1s, targeting different metabolic pathways [38]. Additional Insights - The study's design included a randomized double-blind placebo-controlled approach, with a focus on both single and multiple ascending dose escalations [12][13]. - The majority of participants were male, which may influence weight loss outcomes, as literature suggests males generally lose less weight on GLP-1 agonists compared to females [17][99]. - The company is committed to engaging with regulatory agencies to optimize the Phase II study design and ensure a robust clinical program [37][92]. Conclusion - Terns Pharmaceuticals is positioned to advance TURN-601 into Phase II trials, leveraging its unique properties and favorable safety profile to address the significant unmet need in obesity treatment. The company is also exploring combination therapies to enhance treatment efficacy in diverse patient segments [39][40].

Statistically significant mean weight loss up to 5.5% over 28 days (4.9% placebo adjusted) Well-tolerated with no treatment-related dose interruptions, reductions, or discontinuations even with rapid dose titration Distinct drug properties support potential to be a leading GLP-1R agonist Plans to initiate Phase 2 clinical trial in 2025 Company to host conference call today at 8:00 am ET FOSTER CITY, Calif., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. ("Terns" or the "Company") (Nasdaq: TE ...

Shares of Terns Pharmaceuticals, Inc. (TERN) , a clinical-stage biopharmaceutical company, rose 29.6% in the past three months compared with the industry's growth of 7.4%. The stock outperformed the sector and the S&P 500 Index during the said time frame. The outperformance can be attributed to encouraging pipeline progress of its obesity and oncology candidates. TERN Outperforms Industry, Sector & S&P 500 Image Source: Zacks Investment Research Terns Targets Lucrative Obesity Market Terns is developing a p ...