Here are the 10-Q quarterly reports from Terns Pharmaceuticals, Inc. (TERN) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow TERN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TERN filings page.
Terns Pharmaceuticals reported Q3 results for the period ended September 30, 2025. Net loss was $24.6 million (vs. $21.9 million a year ago) as research and development rose to $19.9 million and general and administrative was $7.8 million. Interest income was $3.1 million.
Liquidity remained strong with cash and cash equivalents of $150.7 million and marketable securities of $144.9 million. Total current assets were $300.3 million. Stockholders’ equity was $284.1 million. For the first nine months, net cash used in operating activities was $63.1 million.
Pipeline updates highlight oncology focus. In the Phase 1 CARDINAL trial of TERN‑701 for CML, as of a June 30, 2025 cutoff, the overall major molecular response rate was 75% (24/32) by 24 weeks, with an encouraging safety profile and no dose‑limiting toxicities in dose escalation. The FDA granted Orphan Drug Designation in March 2024. In October 2025, Terns announced it will not advance TERN‑601 for obesity after Phase 2 results showed a maximum placebo‑adjusted weight loss of 4.6% and liver enzyme elevations in some participants.