UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39926 Terns Pharmaceuticals, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 98-1448275 (State or other juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39926 Terns Pharmaceuticals, Inc. (Exact Name of Registrant as Specified in its Charter) Indicate by check mark whether the regis ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39926 Terns Pharmaceuticals, Inc. (Exact name of Registrant as specified in its Charter) | Delaware | 98-1448275 | | --- | --- | | (S ...

2 March 2023 This presentation contains forward-looking statements about Terns Pharmaceuticals, Inc. (the "Company," "we," "us," or "our") and its industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding the Company's strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management and expected market growth, are forward-looking stateme ...

Obesity • ~$30B market5limited by supply/cost of peptides • Oral drugs expected to expand market access potential NASH • No approved drugs to date • Demand for drugs amenable for co-administration 2 Terns Pipeline: Broad Rights to Multiple Wholly-owned Opportunities Targeting Serious Diseases 1. Out-licensed to Hansoh Pharma (HS 10382) in the Greater China region; Ph 1 trial ongoing in China; Terns eligible for up to $ 67M in clinical, regulatory and sales-based milestones, mid single digit percentage royal ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39926 Terns Pharmaceuticals, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 98-1448275 (State or other ...

NS Company Overview NASDAQ: TERN August 2022 2 Forward-Looking Statements This presentation contains forward-looking statements about Terns Pharmaceuticals, Inc. (the "Company," "we," "us," or "our") and its industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding the Company's strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of manag ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q Commission File Number: 001-39926 Terns Pharmaceuticals, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 98-1448275 (State or other juris ...

Drug Development - The company is developing a portfolio of small-molecule therapies targeting serious diseases such as non-alcoholic steatohepatitis (NASH), obesity, and cancer, with a focus on THR-β and FXR mechanisms [117]. - TERN-501, a THR-β agonist, showed positive Phase 1 trial results, demonstrating safety and tolerability with no serious adverse events reported [118]. - The FDA cleared the IND application for TERN-501 and TERN-101, leading to a Phase 2a trial expected to enroll approximately 140 NASH patients, with top-line data anticipated in the second half of 2023 [119]. - The company aims to develop TERN-601, an oral GLP-1R agonist for obesity, with a first-in-human clinical trial planned for 2023 after identifying suitable small-molecule scaffolds [120]. - TERN-101 demonstrated significant improvements in liver inflammation and fibrosis markers in a Phase 2a study, indicating its potential in combination therapies for NASH [121]. - TERN-201, an inhibitor of VAP-1, met primary safety endpoints in a Phase 1b trial, but did not show meaningful changes in NASH biomarkers, leading to limited further investment in this candidate [123]. - TERN-701, a BCR-ABL TKI for chronic myeloid leukemia, is in development in China, with a Phase 1 trial initiated by Hansoh Pharmaceuticals [124]. - The company has prioritized resources towards TERN-501 and TERN-601, expecting cash reserves to fund operations into 2025, including key data readouts [125]. Financial Performance - The company has not generated any revenue from product sales and will not do so until successful clinical development and regulatory approval of its therapy candidates [126]. - For the three months ended March 31, 2022, total operating expenses were $13,825,000, an increase of 4% from $13,296,000 in the same period of 2021 [130]. - Research and development expenses decreased by $599,000 to $8,136,000, primarily due to a $2.0 million decrease in clinical program expenses [130][133]. - General and administrative expenses increased by $1,128,000 to $5,689,000, driven by a $0.8 million increase in personnel-related expenses [130][136]. - The net loss for the three months ended March 31, 2022, was $13,773,000, compared to a net loss of $13,337,000 for the same period in 2021, reflecting a 3.3% increase in losses [130]. - As of March 31, 2022, the company had an accumulated deficit of $195.8 million and cash, cash equivalents, and marketable securities totaling $151.3 million [144]. - The company expects to incur net operating losses for at least the next several years and anticipates significant research and development expenses [142][149]. - Net cash used in operating activities during the three months ended March 31, 2022, was $13.3 million, compared to $14.3 million in the same period of 2021 [153][154]. - Net cash provided by investing activities for the three months ended March 31, 2022, was $9.5 million, primarily from the sale and maturity of investments [155]. - The company entered into a Sales Agreement in March 2022 to offer shares of common stock with an aggregate offering price of up to $75.0 million [147]. - The company will need substantial additional funding to support ongoing operations and research activities, which may come from equity or debt financings [149][151]. Operational Challenges - The ongoing COVID-19 pandemic continues to pose uncertainties regarding the company's operations and development timelines [129].

g Company Overview NASDAQ: TERN March 2022 2 Forward-Looking Statements This presentation contains forward-looking statements about Terns Pharmaceuticals, Inc. (the "Company," "we," "us," or "our") and its industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding the Company's strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of managem ...