Terns Announces Closing of Public Offering of Common Stock, Including Full Exercise of Underwriters' Option to Purchase Additional Shares

Core Points - Terns Pharmaceuticals, Inc. has successfully closed an underwritten public offering of 18,687,500 shares at a price of $40.00 per share, resulting in gross proceeds of $747.5 million before deductions [1][3] - The offering was managed by Jefferies, TD Cowen, and Leerink Partners as lead book-running managers, with Mizuho, Citizens Capital Markets, and Oppenheimer & Co. as co-managers [2] - The net proceeds from the offering will be utilized for research, clinical trials, development, and manufacturing of key product candidates, particularly TERN-701, as well as for working capital and general corporate purposes [3][5] Company Overview - Terns Pharmaceuticals is a clinical-stage oncology company focused on developing high-impact medicines, with its lead program TERN-701 being a selective allosteric BCR-ABL inhibitor aimed at improving treatment efficacy for chronic myeloid leukemia (CML) [5]