Terns Pharmaceuticals, Inc. - TERN STOCK NEWS

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.

Terns Pharmaceuticals, Inc. reported its first quarter 2024 financial results and corporate updates, highlighting the progress on its two lead programs, TERN-701 for CML and TERN-601 for obesity. The company has a cash position of $241 million expected to last into 2026. Recent developments include positive findings from the Phase 1 study of TERN-701 and the progress of TERN-601's first-in-human trial. The company also announced key appointments in its leadership team. Financially, Terns reported a net loss of $22.4 million for Q1 2024, with R&D expenses of $18.6 million and G&A expenses of $6.9 million.

Terns Pharmaceuticals, Inc. announced the appointment of Scott Harris as chief development officer and the departure of Erin Quirk, M.D., president, head of research and development. Dr. Quirk will be leaving the company to pursue other opportunities. Mr. Harris will oversee various operations, and key executives will now report directly to the CEO. The company expressed gratitude to Dr. Quirk for her contributions and confidence in the leadership team's ability to advance their pipeline. Mr. Harris brings over 25 years of experience in drug development and is optimistic about Terns' future.

Terns Pharmaceuticals, a clinical-stage biopharmaceutical company, will participate in The Citizens JMP Life Sciences Conference 2024. Senior management will join a fireside chat to discuss the company's small-molecule product candidates for serious diseases like oncology and obesity. The event will be live webcasted on May 14, 2024, at 1:30 p.m. ET, with a replay available for 30 days.