Terns Pharmaceuticals, Inc. Stock Price, News & Analysis

Terns Pharmaceuticals, a clinical-stage biopharmaceutical company, has announced the pricing of its public offering of 10,350,000 shares of common stock at $7.25 per share, aiming for gross proceeds of approximately $75.0 million. The offering includes a 30-day option for underwriters to purchase an additional 1,552,500 shares. Proceeds will be utilized to advance Terns' clinical pipeline focused on serious diseases like oncology and obesity, alongside working capital needs. The offering is expected to close on December 23, 2022.

Terns Pharmaceuticals, a clinical-stage biopharmaceutical company, announced the granting of equity inducement awards to three new non-executive employees under the 2022 Employment Inducement Award Plan. The approval took place on December 15, 2022. In total, these employees received options for 60,000 shares and 30,000 restricted stock units (RSUs), with options priced at $6.82 per share, reflecting the closing stock price on the grant date. The options and RSUs will vest over four years based on continued service.

Terns Pharmaceuticals, Inc. (Nasdaq: TERN) has initiated a proposed public offering of $75 million in common stock, with an additional 30-day option for underwriters to purchase more shares. The offering, aimed at advancing its clinical-stage pipeline—including programs for oncology and NASH—will be managed by Jefferies, Cowen, and other financial institutions. Proceeds are intended for the development of clinical programs such as TERN-501, TERN-701, and TERN-601. This offering is subject to market conditions, and completion is not guaranteed.

Terns Pharmaceuticals announces participation in the 2022 Virtual JMP Securities Hematology and Oncology Summit on December 6 at 2:40 p.m. ET. The company will highlight TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor, aimed at treating chronic myeloid leukemia (CML). CEO Sen Sundaram emphasized TERN-701’s potential to improve patient outcomes, showcasing its efficacy and tolerability over existing therapies. A live audio webcast will be accessible on Terns' investor relations page, with on-demand availability for 30 days post-event.

Terns Pharmaceuticals plans to initiate U.S. clinical trials for TERN-701, an allosteric BCR-ABL inhibitor for chronic myeloid leukemia (CML), in the second half of 2023. Positive Phase 1 data for TERN-501 (THR-β agonist) in NASH was presented, with top-line results from the Phase 2a DUET trial expected later in 2023. Cash reserves of $187 million are projected to fund operations into 2025, supporting three key clinical program readouts. The company anticipates significant milestones ahead, including clinical advancements for TERN-601 targeting obesity.

Terns Pharmaceuticals presented positive Phase 1 results for TERN-501, a THR-β agonist targeting NASH, at The Liver Meeting. Among 24 participants, TERN-501 demonstrated a dose-dependent increase in sex hormone binding globulin (SHBG), with 100% of those on the highest dose showing significant increases. The ongoing Phase 2a DUET trial will evaluate TERN-501's safety and efficacy, both alone and in combination with TERN-101, with top-line data expected in late 2023.

Terns Pharmaceuticals, Inc. (Nasdaq: TERN) announced plans to present two abstracts at the AASLD The Liver Meeting® from November 4-8, 2022. The presentations will focus on TERN-501, a THR-β agonist, and TERN-101, an FXR agonist, both under investigation for treating non-alcoholic steatohepatitis (NASH). The first abstract highlights TERN-501’s effects on sex hormone binding globulin and lipid levels, while the second discusses an ongoing Phase 2a study of TERN-501 and TERN-101 in NASH patients, with top-line results expected in late 2023.

Terns Pharmaceuticals, based in Foster City, is set to present at the H. C. Wainwright 6th Annual NASH Investor Conference on October 17, 2022, at 11:30 a.m. ET. The company focuses on developing small-molecule therapies targeting serious diseases, including oncology, obesity, and non-alcoholic steatohepatitis (NASH). A live webcast of the presentation will be available on their investor relations page, with a replay accessible for 30 days. Terns' pipeline includes multiple clinical-stage programs aimed at serious health conditions.

Terns Pharmaceuticals, a clinical-stage biopharmaceutical company (Nasdaq: TERN), is set to present at the H.C. Wainwright 24th Annual Global Investment Conference on September 14, 2022, at 2:00 p.m. ET. The company focuses on developing small-molecule therapies for serious diseases, including oncology, obesity, and non-alcoholic steatohepatitis (NASH). Interested investors can access a live audio webcast of the presentation on Terns' investor relations page, with a replay available for 30 days post-event.