Terns Pharmaceuticals, Inc. Stock Price, News & Analysis

Terns (Nasdaq: TERN) priced an upsized underwritten public offering of 16,250,000 common shares at $40.00 per share, for gross proceeds of approximately $650 million, before underwriting discounts, commissions and expenses.

The company granted underwriters a 30‑day option to purchase up to an additional 2,437,500 shares at the public offering price. The offering is expected to close on December 11, 2025, subject to customary conditions. Net proceeds are intended to fund research, clinical trials, development and manufacturing of product candidates including TERN‑701, initial commercial launch preparations for TERN‑701, and general corporate purposes.

Terns Pharmaceuticals (Nasdaq: TERN) announced a proposed underwritten public offering of $400 million of common stock and, for certain investors, pre-funded warrants, with a 30-day underwriter option to purchase up to an additional $60 million.

The securities will be offered pursuant to an S-3 shelf registration that became effective on December 9, 2025. Jefferies, TD Cowen and Leerink Partners lead the offering, with Mizuho, Citizens Capital Markets and Oppenheimer & Co. as co-managers.

Terns intends to use net proceeds to fund research, clinical trials, development and manufacturing of key candidates including TERN-701, initial activities for potential commercial launch of TERN-701, and for working capital and general corporate purposes. The offering is subject to market conditions and may not be completed as announced.

Terns (NASDAQ: TERN) reported updated Phase 1 CARDINAL data for TERN-701 at ASH on December 8, 2025. As of a September 13, 2025 cutoff (n=63), 38 efficacy-evaluable patients showed an overall MMR rate of 64% by 24 weeks across all doses and 75% MMR at doses ≥320mg QD. DMR by 24 weeks reached 29% overall and 36% in the ≥320mg cohort. Median treatment duration was six months with a favorable safety profile; Grade ≥3 neutropenia and thrombocytopenia were each 10% (8%). Company hosted an investor webcast on December 8, 2025.

Terns Pharmaceuticals (Nasdaq: TERN) announced that senior management will present at the Jefferies Global Healthcare Conference in London on Monday, November 17, 2025 at 4:30 p.m. GMT.

A live webcast will be available on the company's investor relations site at http://ir.ternspharma.com, and a replay will be archived on the site for at least 30 days after the event.

Terns Pharmaceuticals (NASDAQ: TERN) reported third-quarter 2025 results and corporate updates on Nov 10, 2025. Key clinical news: an ASH 2025 abstract and an oral presentation on Dec 8, 2025 will present expanded Phase 1 CARDINAL data for TERN-701, showing a 75% cumulative MMR rate by 24 weeks and 100% MMR durability at cutoff, with encouraging safety across doses. Financial highlights: $295.6M in cash, cash equivalents and marketable securities (Sept 30, 2025), expected runway into 2028. Q3 operating items: R&D $19.9M, G&A $7.8M, net loss $24.6M.

Terns Pharmaceuticals (Nasdaq: TERN) announced equity inducement awards granted to two new employees effective November 1, 2025 under the 2022 Employment Inducement Award Plan.

The company granted options to purchase a total of 252,500 shares of common stock with a 10-year term and an exercise price of $8.26 per share (closing price on October 31, 2025). The options vest over four years, subject to continued service, and were approved by the Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).

Terns (NASDAQ: TERN) announced that Phase 1 CARDINAL data for TERN-701, an allosteric BCR::ABL1 inhibitor for previously treated CML, was selected for oral presentation at the 67th ASH Annual Meeting on December 8, 2025.

As of the June 30, 2025 cutoff (55 enrolled; 32 efficacy-evaluable), cumulative MMR was 75% (24/32) by 24 weeks, with 64% (14/22) achieving MMR and 100% (10/10) maintaining MMR. Safety was encouraging: no DLTs, MTD not reached, 87% remained on treatment, mostly low-grade TEAEs. Company will host an investor webcast on December 8, 2025 at 4:30pm ET.

Terns (NASDAQ: TERN) announced topline 12-week Phase 2 results for oral GLP-1RA TERN-601 on October 21, 2025. The trial showed up to 4.6% placebo-adjusted weight loss at doses >500 mg but did not meet the company’s threshold for a differentiated oral GLP-1RA and likely precludes further development. Safety findings included mainly mild-to-moderate GI adverse events (nausea 56%, vomiting 26.9%) and three post-treatment grade 3 liver enzyme elevations, two adjudicated as drug related. Terns will not advance TERN-601 or invest further in metabolic assets and will focus on TERN-701 for CML, with clinical data expected this quarter.

Terns Pharmaceuticals (Nasdaq: TERN) announced on Oct 2, 2025 that it granted equity inducement awards to four new employees under its 2022 Employment Inducement Award Plan, approved by the Compensation Committee under Nasdaq Listing Rule 5635(c)(4).

The Company granted options to purchase a total of 118,000 shares of common stock, with a 10-year term and an exercise price of $7.81 per share (closing price on Oct 1, 2025). The options vest over four years, subject to continued service.