Terns Pharmaceuticals Reports Inducement Grant to New Chief Financial Officer Under Nasdaq Listing Rule 5635(C)(4)

Core Points - Terns Pharmaceuticals, Inc. has granted an equity inducement award to Andrew Gengos, the new chief financial officer, as a material inducement for his acceptance of employment [1] - The equity award consists of an option to purchase 750,000 shares of Terns common stock at an exercise price of $3.73, which is the closing price on February 24, 2025 [2] - The option has a 10-year term and vests over four years, contingent on Mr. Gengos' continued service [2] Company Overview - Terns Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing small-molecule product candidates targeting serious diseases such as 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]