Core Insights - Terns Pharmaceuticals has initiated the dose expansion phase of the Phase 1 CARDINAL trial for TERN-701, targeting chronic myeloid leukemia (CML) [1][2] - The Phase 2 FALCON trial for TERN-601, aimed at obesity treatment, is progressing well, with top-line data expected in the fourth quarter of 2025 [1][2] - The company reported a cash position of $334.3 million as of March 31, 2025, sufficient to support operations into 2028 [5][10] Clinical Developments - TERN-701 is an oral, small-molecule allosteric BCR-ABL inhibitor for CML, with the dose expansion phase enrolling patients at doses of 320 mg and 500 mg [3] - The Phase 2 FALCON trial for TERN-601 is designed to demonstrate competitive weight loss and a favorable safety profile, with data expected in 4Q 2025 [3][8] - Interim data from TERN-701's dose escalation showed no dose-limiting toxicities and encouraging molecular responses in heavily pre-treated CML patients [2][3] Financial Performance - Research and development expenses for Q1 2025 were $18.7 million, slightly up from $18.6 million in Q1 2024 [6][9] - General and administrative expenses increased to $8.7 million in Q1 2025 from $6.9 million in Q1 2024 [6][9] - The net loss for Q1 2025 was $23.9 million, compared to a net loss of $22.4 million in Q1 2024 [6][9] Corporate Updates - Terns' leadership will participate in upcoming investor conferences, with webcasts available on the company's website [5] - The company is prioritizing the development of a GIPR antagonist based on scientific rationale supporting GLP-1 agonist/GIPR antagonist combinations for obesity [8][11]

Summary of Terns Pharmaceuticals (TERN) Conference Call Company Overview - **Company**: Terns Pharmaceuticals (TERN) - **Date of Conference**: May 07, 2025 - **Key Speakers**: Scott Harris (Chief Development Officer), Andrew Gragos (Chief Financial Officer) Key Points on Oncology and CML - **Unmet Need in CML**: Chronic Myeloid Leukemia (CML) treatment has evolved since the introduction of Gleevec in 2001, but there remains a need for improved efficacy and safety in treatments [6][7] - **Introduction of TURN701**: TURN701 is positioned as a potential best-in-class allosteric TKI for CML, showing preclinical potency greater than Novartis' Osimhenib and improved pharmacokinetics [8][12] - **Safety and Tolerability**: TURN701 has demonstrated no dose-limiting toxicities in trials, lacks significant drug-drug interactions, and is not an inhibitor of CYP3A4, which is crucial for patient safety [10][11] - **Patient Convenience**: TURN701 is a once-daily medication with no clinically meaningful food effect, contrasting with Osimhenib, which requires fasting [11][12] - **Switching Rates**: Up to 50% of patients on active site TKIs switch treatments within the first year, primarily due to suboptimal response or tolerability issues [14][15] - **Early Clinical Data**: In a phase one study, a 50% cumulative Major Molecular Response (MMR) rate was observed at three months among evaluable patients, with no significant adverse effects reported [17][18][22] Key Points on TURN601 (Oral GLP-1) - **Overview of TURN601**: An orally available GLP-1 receptor agonist, with initial studies showing weight loss of up to 5.5% at the highest dose over 28 days [28][35] - **Tolerability Profile**: TURN601 is designed to have a favorable tolerability profile, with rapid absorption and less central nervous system liability [30][31] - **Comparison with Competitors**: The discontinuation of Pfizer's Donluplin does not pose a direct risk to TURN601, as it has distinct pharmaceutical properties [32][33] - **Ongoing Studies**: A twelve-week study is currently enrolling, with expectations for data release in Q4 2025 [28][44] - **Market Positioning**: The company aims to establish partnerships for TURN601, given the high costs associated with obesity drug development [47][48] Additional Insights - **Market Dynamics**: The presence of multiple players in the obesity market is seen as beneficial for patient access and treatment options [52][53] - **Patient Segmentation**: There is a shift in focus towards gradual weight loss and tolerability, appealing to a broader patient population [58][59] - **Future Directions**: The company is optimistic about the potential for TURN701 and TURN601 to establish themselves in their respective markets, with ongoing studies and data expected to support their claims [54][56]

FOSTER CITY, Calif., April 30, 2025 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity, today announced that members of senior management will be participating in a fireside chat at The Citizens Life Sciences Conference on Wednesday, May 7, 2025 at 2:30 p.m. ET. A live webcast of the fireside chat will be av ...

Group 1 - Terns Pharmaceuticals, Inc. (TERN) has experienced a significant downtrend, with a stock decline of 39.8% over the past four weeks, indicating excessive selling pressure [1] - The stock is currently in oversold territory, as evidenced by an RSI reading of 21.87, suggesting a potential reversal in trend [5] - Wall Street analysts have shown strong agreement in raising earnings estimates for TERN, with a 6.5% increase in the consensus EPS estimate over the last 30 days, which typically correlates with price appreciation [7] Group 2 - TERN holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a strong potential for a turnaround [8]

A downtrend has been apparent in Terns Pharmaceuticals, Inc. (TERN) lately with too much selling pressure. The stock has declined 31.4% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical ...

FOSTER CITY, Calif., April 02, 2025 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity, today announced that it has granted as of April 1, 2025 an equity inducement award to two new employees under the terms of the 2022 Employment Inducement Award Plan, as amended. The equity awards were approved by the Comp ...

Terns Pharmaceuticals, Inc. (TERN) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following yea ...

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, 2024 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 jurisdic ...

[Report Overview and Key Highlights](index=1&type=section&id=Terns%20Pharmaceuticals%20Reports%20Fourth%20Quarter%20and%20Full%20Year%202024%20Financial%20Results%20and%20Corporate%20Updates) - Announced significant clinical progress in **2024** for its lead programs, TERN-701 in CML and TERN-601 in obesity, with key data readouts expected in **2025**[2](index=2&type=chunk) - The dose expansion for the Phase 1 CARDINAL trial of TERN-701 (CML) is expected to start in **Q2 2025**, with additional data anticipated in **Q4 2025**[1](index=1&type=chunk) - The first patient was enrolled in the Phase 2 FALCON trial of TERN-601 (obesity), with **12-week** data expected in **Q4 2025**[1](index=1&type=chunk) - The company reports a strong financial position with **$358 million** in cash, cash equivalents, and marketable securities, providing an expected operational runway into **2028**[1](index=1&type=chunk) [Pipeline Developments and Anticipated Milestones](index=1&type=section&id=Recent%20Pipeline%20Developments%20and%20Anticipated%20Milestones) [TERN-701 for Chronic Myeloid Leukemia (CML)](index=1&type=section&id=TERN-701%3A%20Oral%2C%20allosteric%20BCR-ABL%20tyrosine%20kinase%20inhibitor%20%28TKI%29%20for%20chronic%20myeloid%20leukemia%20%28CML%29) TERN-701, an oral TKI for CML, completed Phase 1 dose escalation with compelling molecular responses and favorable safety, with dose expansion starting Q2 2025 and data expected Q4 2025 - Phase 1 dose escalation was completed in **January 2025**, with interim data showing compelling molecular responses and an encouraging safety profile in heavily pre-treated CML patients[3](index=3&type=chunk) - Positive drug-drug interaction (DDI) data indicates TERN-701 is not a clinically relevant inhibitor of CYP3A4 or OATP1B1/3, representing a key safety differentiation within its class[3](index=3&type=chunk) - The dose expansion part of the Phase 1 study is expected to start in **Q2 2025**, with additional safety and efficacy data anticipated in **Q4 2025**[3](index=3&type=chunk) [TERN-601 for Obesity](index=2&type=section&id=TERN-601%3A%20Oral%2C%20small-molecule%20glucagon-like%20peptide-1%20%28GLP-1%29%20receptor%20agonist%20for%20obesity) TERN-601, an oral GLP-1 agonist for obesity, enrolled its first Phase 2 FALCON patient; 12-week data expected Q4 2025, evaluating efficacy and safety with a slower titration schedule - The Phase 2 FALCON clinical trial enrolled its first patient in **March 2025**, with **12-week** data expected in **Q4 2025**[6](index=6&type=chunk) - The trial's primary endpoint is the percent change from baseline in body weight compared to placebo over **12 weeks**[6](index=6&type=chunk) - The Phase 2 trial will use a slower titration schedule (**two to four weeks** at each intermediate dose) to aim for competitive weight loss with best-in-class tolerability[6](index=6&type=chunk) [Other Pipeline Programs (TERN-501 & TERN-800 Series)](index=2&type=section&id=TERN-501%20and%20TERN-800%20Series) Terns evaluates TERN-501 for metabolic diseases, potentially with GLP-1s, and advances TERN-800 series GIPR modulators, prioritizing a GIPR antagonist for obesity combination therapies - TERN-501 (THR-β agonist): The company continues to evaluate opportunities for TERN-501 in metabolic diseases, noting its complementary mechanism to GLP-1 for potential broader benefits[6](index=6&type=chunk) - TERN-800 Series (GIPR modulators): Discovery efforts are ongoing, with a focus on nominating a GIPR antagonist candidate to combine with GLP-1 agonists like TERN-601 for obesity treatment[6](index=6&type=chunk) [Corporate Updates](index=3&type=section&id=Corporate%20Updates) Terns strengthened its leadership by appointing Andrew Gengos as CFO and adding Robert Azelby and Heather Turner to its board of directors - In **February 2025**, Andrew Gengos was appointed as Chief Financial Officer[11](index=11&type=chunk) - In **February 2025**, Robert Azelby was appointed to the board of directors[11](index=11&type=chunk) - In **November 2024**, Heather Turner was appointed to the board of directors[11](index=11&type=chunk) [Fourth Quarter and Full Year 2024 Financial Results](index=3&type=section&id=Fourth%20Quarter%20and%20Full%20Year%202024%20Financial%20Results) [Financial Summary](index=3&type=section&id=Financial%20Summary) Terns ended 2024 with $358.2 million cash, providing runway into 2028; R&D increased, G&A decreased, and net loss narrowed to $88.9 million - Cash, cash equivalents, and marketable securities were **$358.2 million** as of **Dec 31, 2024**, compared to **$263.4 million** a year prior. The company expects these funds to be sufficient to support operations into **2028**[8](index=8&type=chunk) Comparison of Key Financial Metrics (Full Year) | Metric | FY 2024 (Millions USD) | FY 2023 (Millions USD) | Change | | :--- | :--- | :--- | :--- | | R&D Expenses | $70.1 | $63.5 | +10.4% | | G&A Expenses | $31.8 | $39.1 | -18.7% | | Net Loss | $88.9 | $90.2 | -1.4% | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported a net loss of $21.8 million for Q4 2024 and $88.9 million for FY 2024, with full-year net loss per share improving to $(1.12) from $(1.27) in 2023 Statement of Operations Highlights (in thousands, except per share data) | Metric | Q4 2024 (Thousands USD) | Q4 2023 (Thousands USD) | FY 2024 (Thousands USD) | FY 2023 (Thousands USD) | | :--- | :--- | :--- | :--- | :--- | | R&D Expenses | $18,004 | $17,459 | $70,112 | $63,497 | | G&A Expenses | $7,945 | $6,599 | $31,759 | $39,061 | | Total Operating Expenses | $25,949 | $24,058 | $101,871 | $102,558 | | Net Loss | $(21,799) | $(21,019) | $(88,853) | $(90,210) | | Net Loss Per Share | $(0.24) | $(0.29) | $(1.12) | $(1.27) | [Selected Balance Sheet Data](index=4&type=section&id=Selected%20Balance%20Sheet%20Data) As of December 31, 2024, Terns' cash, cash equivalents, and marketable securities significantly increased to $358.2 million from $263.4 million, with total assets growing to $363.9 million and stockholders' equity to $345.9 million Balance Sheet Highlights (in thousands) | Metric | Dec 31, 2024 (Thousands USD) | Dec 31, 2023 (Thousands USD) | | :--- | :--- | :--- | | Cash, cash equivalents and marketable securities | $358,164 | $263,440 | | Total assets | $363,929 | $268,517 | | Total liabilities | $18,059 | $13,150 | | Total stockholders' equity | $345,870 | $255,367 |

Dose expansion in Phase 1 CARDINAL trial of TERN-701 for chronic myeloid leukemia (CML) expected to initiate in 2Q25 with additional safety and efficacy data in 4Q25 First patient enrolled in Phase 2 FALCON trial of TERN-601 for obesity with 12-week data expected 4Q25 Cash, cash equivalents and marketable securities of $358 million, expected to provide runway into 2028 FOSTER CITY, Calif., March 20, 2025 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-st ...