William Blair Reiterates a Buy on Terns Pharmaceuticals (TERN)

Core Insights - Terns Pharmaceuticals, Inc. is recognized as a promising small-cap stock following a Buy rating from William Blair analyst Andy Hsieh, who did not provide specific price targets [1][2]. Financial Performance - The company reported positive momentum in its fiscal third-quarter results, particularly for its CARDINAL program related to TERN-701, which is currently in Phase 1 trials for chronic myeloid leukemia [2]. - Terns Pharmaceuticals has a strong financial position with $295 million in cash, which is expected to fund operations until 2028 [3]. Product Development - The initial results from the Phase 1 CARDINAL trial indicate that TERN-701 has the potential to become a leading treatment option for chronic myeloid leukemia, potentially competing with current market leaders like Scemblix [2][3]. - Terns Pharmaceuticals is focused on developing small-molecule product candidates aimed at treating serious diseases, including cancer and obesity [4].