Welcome to our dedicated page for Terns Pharmaceuticals news (Ticker: TERN), a resource for investors and traders seeking the latest updates and insights on Terns Pharmaceuticals stock.
Terns Pharmaceuticals, Inc. (Nasdaq: TERN) is a clinical-stage oncology company whose news flow centers on the development of TERN-701, a highly selective, oral, allosteric BCR-ABL (BCR::ABL1) inhibitor for chronic myeloid leukemia (CML). Company updates describe TERN-701 as the lead program in a focused oncology pipeline, with detailed disclosures on clinical data, regulatory interactions and trial design.
News about Terns frequently highlights results from the CARDINAL trial (NCT06163430), a global multicenter Phase 1/2 study of TERN-701 in previously treated chronic phase CML. Press releases and related SEC filings summarize major molecular response (MMR) and deep molecular response (DMR) rates, safety and tolerability findings, and outcomes in heavily pretreated or difficult-to-treat patient subgroups, including those with prior exposure to other tyrosine kinase inhibitors.
Investors following TERN can also find announcements about regulatory milestones, such as U.S. FDA Fast Track designation for TERN-701 in CML, and information on anticipated clinical priorities and program milestones. Terns’ news includes details on scientific presentations at major conferences like the American Society of Hematology (ASH) Annual Meeting and other healthcare conferences where updated CARDINAL data and development plans are discussed.
In addition, Terns issues news on capital markets activity, including underwritten public offerings of common stock intended to support research, clinical trials, development and manufacturing of key product candidates. Corporate updates may also cover decisions regarding legacy metabolic programs, such as TERN-501, TERN-801 and TERN-601, and the company’s strategy to seek partners for these assets. This news page aggregates such disclosures, offering a centralized view of Terns Pharmaceuticals’ clinical progress, financial developments and strategic focus in oncology.
Terns Pharmaceuticals (Nasdaq: TERN) has announced the pricing of its upsized public offering, aiming to raise approximately $150.15 million. The offering includes 11,919,048 shares of common stock at $10.50 per share and 2,380,952 pre-funded warrants at $10.4999 each. Underwriters have a 30-day option to purchase up to 2,145,000 additional shares. The offering is expected to close on September 12, 2024.
Terns plans to use the proceeds to fund research, clinical trials, development, and manufacturing of key product candidates, including TERN-701, TERN-601, and other programs in the TERN-800 series. The funds will also support working capital and general corporate purposes. Jefferies and TD Cowen are leading the offering, with BMO Capital Markets and UBS Investment Bank as bookrunners.
Terns Pharmaceuticals (Nasdaq: TERN), a clinical-stage biopharmaceutical company, has announced a proposed public offering of $125 million in common stock and pre-funded warrants. The company plans to grant underwriters a 30-day option to purchase up to an additional $18.75 million of shares. Jefferies, TD Cowen, and UBS Investment Bank are acting as bookrunners for the offering.
Terns intends to use the net proceeds to fund research, clinical trials, development, and manufacturing of key product candidates, including TERN-701, TERN-601, and the TERN-800 series. The offering is subject to market conditions, and there is no assurance of its completion or terms.
Terns Pharmaceuticals (Nasdaq: TERN) announced positive Phase 1 clinical trial results for TERN-601, its once-daily oral GLP-1R agonist for obesity treatment. The trial showed:
- Statistically significant mean weight loss up to 5.5% over 28 days (4.9% placebo-adjusted)
- Well-tolerated with no treatment-related dose interruptions, reductions, or discontinuations
- Maximum placebo-adjusted mean weight loss of 4.9% (p<0.0001) at the highest dose of 740 mg QD
- 67% of participants lost 5% or more of baseline body weight at the top dose
The company plans to initiate a Phase 2 clinical trial in 2025. TERN-601's distinct properties support its potential to be a leading GLP-1R agonist, with possible applications as monotherapy or in combination with other agents.
Terns Pharmaceuticals (NASDAQ: TERN) reported Q2 2024 financial results and provided corporate updates. Key highlights include:
1. Top-line data from Phase 1 trial of TERN-601 (oral GLP-1) for obesity expected in September 2024.
2. Interim data from Phase 1 CARDINAL trial of TERN-701 (allosteric BCR-ABL) in chronic myeloid leukemia expected in December 2024.
3. Cash position of $225.3 million, expected to provide runway into 2026.
4. Q2 2024 net loss of $22.7 million, compared to $17.9 million in Q2 2023.
5. R&D expenses increased to $18.4 million in Q2 2024 from $14.2 million in Q2 2023.
6. G&A expenses slightly increased to $7.2 million in Q2 2024 from $7.0 million in Q2 2023.
Terns Pharmaceuticals (Nasdaq: TERN) has announced the granting of equity inducement awards to Elona Kogan, the company's new Chief Legal Officer, under its 2022 Employment Inducement Award Plan. The awards, approved by the Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4), include:
1. A new hire option to purchase 475,000 shares of Terns common stock, vesting over four years.
2. A signing bonus option to purchase 28,000 shares, fully vesting on the one-year anniversary of the grant date.
Both options have a 10-year term and an exercise price of $8.33 per share, equal to the closing price of Terns' common stock on July 29, 2024. The awards are subject to Ms. Kogan's continued employment with Terns.
Terns Pharmaceuticals (Nasdaq: TERN) has announced key leadership changes. Elona Kogan, Esq., has been appointed as the new Chief Legal Officer, bringing over 20 years of experience in the life sciences sector. Meanwhile, Mark Vignola, Ph.D., the current Chief Financial Officer, will be transitioning out by January 2025 or upon the appointment of a successor. Bryan Yoon, Esq., Chief Operating Officer, will remain until September 3, 2024, to assist with the transition.
These changes come as Terns, a clinical-stage biopharmaceutical company, continues to advance its pipeline of small-molecule product candidates for serious diseases, including oncology and obesity. CEO Amy Burroughs expressed confidence in the company's future, highlighting the experienced leadership team and upcoming data readouts from their pipeline.
Terns Pharmaceuticals announced new preclinical data supporting their compound TERN-501 in combination with a GLP-1 receptor agonist for treating obesity. The data was presented at the ADA’s 84th Annual Scientific Sessions. TERN-501, a highly selective THR-β receptor agonist, was shown to enhance weight loss efficacy when used with a GLP-1 receptor agonist, specifically semaglutide, in obese mice. This combination resulted in increased fat mass loss and preserved lean mass, potentially overcoming metabolic adaptation that limits the effectiveness of GLP-1 therapies alone. The results suggest TERN-501 could be a promising adjunct to GLP-1 therapies for obesity and other metabolic disorders. Additionally, Terns will participate in the Piper Sandler Virtual Obesity Day on June 26, 2024.
Terns Pharmaceuticals, a clinical-stage biopharmaceutical firm, announced equity inducement awards for two new employees under its 2022 Employment Inducement Award Plan.
These awards follow Nasdaq Listing Rule 5635(c)(4) and were approved as a material inducement to the employees' acceptance of their positions.
Scott Harris, the new Chief Development Officer, received an option to purchase 475,000 shares of Terns common stock at an exercise price of $6.32 per share, while another non-executive employee was granted an option to purchase 36,000 shares at an exercise price of $6.01 per share.
Both options have a 10-year term and vest over four years.
Terns Pharmaceuticals, a clinical-stage biopharmaceutical company listed on Nasdaq under the ticker TERN, announced its participation in two major investor conferences in June 2024. Senior management will present at the Jefferies Global Healthcare Conference on June 5 at 5:00 p.m. ET in New York City, and at the Goldman Sachs 45th Annual Global Healthcare Conference on June 11 at 3:20 p.m. ET in Miami. Both events will feature fireside chats, with live webcasts available on the Terns Pharmaceuticals investor relations webpage. Replays of these webcasts will be archived for at least 30 days.
Terns Pharmaceuticals, a clinical-stage biopharmaceutical company focusing on oncology and obesity, will participate in a virtual fireside chat at UBS Obesity Therapeutics Day on May 23, 2024. The event, which will include members of Terns' senior management, will be webcast live at 1:00 p.m. ET and archived for 30 days on their investor relations page.