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About Terns Pharmaceuticals, Inc. (NASDAQ: TERN)
Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company dedicated to developing innovative, molecularly-targeted, small-molecule therapies to address serious diseases, including oncology, obesity, and chronic liver diseases. Headquartered in Foster City, California, with additional operations in Shanghai, the company combines its expertise in medicinal chemistry and disease biology with a capital-efficient drug discovery model to advance its robust pipeline of therapeutic candidates.
The company's focus on small-molecule therapies enables the development of orally administered drugs, offering potential advantages in terms of patient convenience, scalability, and cost-effectiveness compared to injectable biologics. Terns’ pipeline includes multiple clinical-stage programs targeting significant unmet medical needs:
- TERN-701: An oral, allosteric BCR-ABL tyrosine kinase inhibitor (TKI) in development for chronic myeloid leukemia (CML). This novel therapy aims to overcome the limitations of traditional active-site TKIs, offering improved efficacy and safety profiles.
- TERN-601: A small-molecule glucagon-like peptide-1 receptor (GLP-1R) agonist designed for the treatment of obesity. This candidate demonstrates promising weight loss efficacy and a favorable tolerability profile, addressing common challenges associated with GLP-1 therapies.
- TERN-501: A thyroid hormone receptor-beta (THR-β) agonist targeting non-alcoholic steatohepatitis (NASH) and other liver diseases.
- TERN-800 Series: A preclinical program focused on glucose-dependent insulinotropic polypeptide receptor (GIPR) modulators for metabolic disorders.
Terns Pharmaceuticals operates within competitive and innovation-driven markets, where its focus on clinically validated targets and its ability to develop differentiated small-molecule therapies position it as a key player. The company’s strategic emphasis on both oncology and metabolic diseases reflects its commitment to addressing substantial unmet medical needs globally.
By leveraging its dual presence in the United States and China, Terns benefits from access to diverse patient populations, streamlined clinical development capabilities, and cost efficiencies. Its capital-efficient drug discovery model further supports the advancement of its pipeline while mitigating financial risks inherent to clinical-stage companies.
As a clinical-stage company, Terns Pharmaceuticals is reliant on the success of its ongoing and future clinical trials. Its ability to secure regulatory approvals and navigate competitive landscapes will be critical to its long-term success. However, its strong pipeline, innovative approach to drug development, and focus on addressing unmet medical needs provide a solid foundation for potential growth.
Terns Pharmaceuticals (Nasdaq: TERN) has granted an equity inducement award to its new Chief Financial Officer, Andrew Gengos, as announced on February 26, 2025. The award, approved under the 2022 Employment Inducement Award Plan and in accordance with Nasdaq Listing Rule 5635(c)(4), consists of an option to purchase 750,000 shares of Terns common stock.
The stock option features a 10-year term with an exercise price of $3.73 per share, matching Terns' closing stock price on February 24, 2025. The option will vest over a four-year period, contingent upon Mr. Gengos maintaining his employment with the company.
Terns Pharmaceuticals (TERN) has provided program updates across its development pipeline and announced participation at the TD Cowen 45th Annual Healthcare Conference. The company reported strong progress with its TERN-701 CARDINAL study for chronic myeloid leukemia (CML), with dose expansion expected to begin in Q2 2025 and additional data in Q4 2025. New data shows TERN-701 has an improved drug-drug interaction profile compared to asciminib.
For its obesity program, Terns introduced the Phase 2 FALCON study design for TERN-601, an oral GLP-1 receptor agonist, scheduled to begin in early Q2 2025 with 12-week data expected in 2H 2025. The company aims to achieve competitive weight loss with best-in-class tolerability without complicated dose titrations.
Terns continues evaluating opportunities for TERN-501 in metabolic diseases and is advancing its TERN-800 series of GIPR modulators for obesity. With $372.8 million in cash as of September 30, 2024, the company expects runway into 2028.
Terns Pharmaceuticals (Nasdaq: TERN) has appointed Andrew Gengos as Chief Financial Officer, effective immediately. Gengos brings 25 years of leadership experience in biotech and life sciences to the clinical-stage biopharmaceutical company.
Gengos most recently served as CFO of Athira Pharma and previously as Chief Business Officer at Cyteir Therapeutics, where he led the company's IPO finance team. His experience includes CEO roles at ImmunoCellular Therapeutics and Neuraltus Pharmaceuticals, and eight years as VP of Strategy and Corporate Development at Amgen.
The appointment comes as Terns, which focuses on developing small-molecule product candidates for oncology and obesity, anticipates clinical readouts later this year. Gengos holds an MBA from UCLA Anderson School of Management and a BS in Chemical Engineering from MIT.
Terns Pharmaceuticals (Nasdaq: TERN) has appointed Robert Azelby to its Board of Directors, while Carl Gordon steps down after seven years of service. Azelby brings 25 years of biotechnology expertise, particularly in strategic, operational, and commercial leadership.
Azelby's extensive experience includes serving as CEO of Eliem Therapeutics (2020-2023) and Alder BioPharmaceuticals (2018-2019), as well as executive positions at Juno Therapeutics and Amgen. His appointment comes as Terns prepares TERN-701 for late-stage studies in chronic myeloid leukemia.
Currently, Azelby serves on the boards of ADC Therapeutics, Autolus Therapeutics, and Cardinal Health. He holds a B.A. in Economics and Religious Studies from the University of Virginia and an M.B.A. from Harvard Business School.
Terns Pharmaceuticals (Nasdaq: TERN), a clinical-stage biopharmaceutical company focused on developing small-molecule treatments for serious diseases including oncology and obesity, has announced its participation in the upcoming Oppenheimer 35th Annual Healthcare Life Sciences Conference.
The company's senior management will deliver a presentation on Wednesday, February 12, 2025, at 4:00 p.m. ET. Investors and interested parties can access a live webcast of the presentation through the investor relations page at http://ir.ternspharma.com. The presentation recording will remain available on the company's website for a minimum of 30 days following the event.
Terns Pharmaceuticals (Nasdaq: TERN) announced the grant of equity inducement awards to a new employee under its 2022 Employment Inducement Award Plan. The company granted stock options to purchase 250,000 shares at an exercise price of $4.46 per share, which was the closing price on January 31, 2025. The options have a 10-year term and vest over four years, contingent on continued employment. The grant was approved by the Compensation Committee in compliance with Nasdaq Listing Rule 5635(c)(4) and serves as a material inducement for the employee's acceptance of employment.
Terns Pharmaceuticals (Nasdaq: TERN), a clinical-stage biopharmaceutical company focused on developing small-molecule product candidates for serious diseases including oncology and obesity, has announced its upcoming participation at the 43rd Annual J.P. Morgan Healthcare Conference.
The company's management will deliver their presentation on January 15th, 2025, at 4:30 p.m. PT. Investors and interested parties can access a live webcast of the presentation through the investor relations page at http://ir.ternspharma.com. The presentation recording will remain available on the company's website for a minimum of 30 days following the event.
Terns Pharmaceuticals (Nasdaq: TERN) announced the granting of equity inducement awards to a new employee under its 2022 Employment Inducement Award Plan. The grant, approved by the Company's Compensation Committee in compliance with Nasdaq Listing Rule 5635(c)(4), includes options to purchase 9,000 shares of Terns common stock.
The options come with a 10-year term and an exercise price of $5.54 per share, matching Terns' closing stock price on December 31, 2024. The options will vest over a four-year period, contingent on the employee's continued service with the company.
Terns Pharmaceuticals announced positive early data from Phase 1 CARDINAL trial of TERN-701 in patients with relapsed/refractory chronic myeloid leukemia (CML). The study showed a 50% cumulative major molecular response (MMR) rate at 3 months, with compelling molecular responses starting at lowest dose levels. The trial enrolled 15 patients across three dose levels (160mg, 320mg, 400mg) with 88% of patients showing decreased BCR-ABL levels. The drug demonstrated an encouraging safety profile with no dose-limiting toxicities or treatment discontinuations. The company expects to complete dose escalation and initiate dose expansion in 1H25, with additional efficacy data expected in 4Q25.
Terns Pharmaceuticals (Nasdaq: TERN) announced the grant of equity inducement awards to a new employee under its 2022 Employment Inducement Award Plan. The company granted options to purchase 150,000 shares of common stock with an exercise price of $6.24 per share, based on the closing price on November 29, 2024. The options have a 10-year term and vest over four years, contingent on continued employment. The grant was approved by the Compensation Committee in compliance with Nasdaq Listing Rule 5635(c)(4).
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