Terns Pharmaceuticals' Leukemia Drug Seen As Potential Disruptor In CML Treatment Landscape, Analyst Upgrades

Core Viewpoint - Terns Pharmaceuticals Inc. is experiencing a significant increase in stock price following positive data from the ongoing CARDINAL trial of TERN-701 for chronic myeloid leukemia (CML), suggesting the potential for TERN-701 to be a transformative therapy in the CML treatment landscape [1][2][3]. Group 1: Trial Data and Efficacy - The CARDINAL trial is currently in the dose-escalation and dose-expansion phases, with 55 patients enrolled as of June 30 [2]. - Among 32 efficacy-evaluable patients, the major molecular response (MMR) achievement rate at 24 weeks is reported at 64%, which is significantly higher than rates in other Phase 1 studies of CML therapies [2][3]. - The overall cumulative MMR rate is 75% (24 out of 32 patients), with 100% (10 out of 10) maintaining MMR [6]. Group 2: Market Reaction and Analyst Sentiment - TERN stock has surged by 88.67%, reaching $15.58 [4]. - William Blair has upgraded Terns to Outperform from Market Perform, highlighting the promising outcomes of the TERN-701 readout [3]. - Analyst Andy Hsieh believes that TERN-701 has the potential to significantly disrupt the current CML treatment market, which is dominated by Novartis AG's Scemblix [3].