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Terns Pharmaceuticals, Inc. (Nasdaq: TERN) is a clinical-stage biopharmaceutical company with a mission to innovate and develop small-molecule, molecularly-targeted, oral therapies for the treatment of serious diseases, including liver diseases and cancers. Based in San Mateo, California and Shanghai, Terns leverages its expertise in disease biology and medicinal chemistry to advance its growing pipeline of drugs aimed at addressing significant unmet medical needs globally.
The company is renowned for its cost-efficient drug discovery model and robust clinical development capabilities, especially within China. Terns Pharmaceuticals is focused on developing a portfolio of small-molecule candidates tailored for non-alcoholic steatohepatitis (NASH), oncology, and obesity.
One of the company's flagship programs is the TERN-501, an investigational orally administered thyroid hormone receptor-β (THR-β) agonist aimed at treating NASH. The Phase 2a DUET clinical trial revealed promising results, showing significant impacts on liver fat content and fibro-inflammation markers within a short period. This positions TERN-501 as a potential leading therapy for NASH.
Additionally, Terns is developing TERN-701, an allosteric BCR-ABL inhibitor for chronic myeloid leukemia (CML), and TERN-601, a small-molecule GLP-1 receptor agonist for obesity. Both candidates have shown encouraging preclinical and early clinical data, promising significant advancements in their respective fields.
Financially, as of the latest quarter, Terns Pharmaceuticals reported cash, cash equivalents, and marketable securities amounting to $266.6 million, supporting the planned operating expenses into 2026. Recent clinical trials and corporate updates highlight the company's ongoing dedication to addressing global health challenges through innovative drug development.
For more information, please visit their website at www.ternspharma.com.
Terns Pharmaceuticals, Inc. announced significant leadership changes and reported financial results for Q4 and the full year ending December 31, 2022. The company appointed Emil Kuriakose as chief medical officer for oncology, enhancing its R&D capabilities. As of December 31, 2022, Terns held $283 million in cash, sufficient to fund operations into 2026. For Q4, the net loss was $15.8 million, slightly up from $14.2 million year-over-year. R&D expenses rose to $10.7 million, while G&A expenses increased to $6.2 million. License revenue remained stagnant at $0, indicating a focus on clinical development over commercial activities.
Terns Pharmaceuticals has appointed Emil Kuriakose, M.D., as Chief Medical Officer for oncology, effective May 1, 2023. Dr. Kuriakose has over a decade of experience in clinical development, notably in oncology, previously serving as Chief Medical Officer at Calithera Biosciences and holding key roles at Novartis. His expertise is expected to advance Terns' clinical program for TERN-701, targeting chronic myeloid leukemia (CML), addressing significant unmet needs in treatment options. Kerry Russell, M.D., will transition to Chief Medical Officer for Terns’ metabolic programs focusing on NASH and obesity.
Terns Pharmaceuticals (Nasdaq: TERN) has completed enrollment in the Phase 2a DUET clinical trial for TERN-501, a THR-β agonist for treating NASH, with top-line results anticipated in Q3 2023. The company plans to initiate a U.S. clinical trial for TERN-701, an allosteric BCR-ABL inhibitor for chronic myeloid leukemia (CML), in the second half of 2023. Additionally, Terns is preparing for a Phase 1 clinical trial for TERN-601, a GLP-1 receptor agonist for obesity, also set for H2 2023. Terns' cash reserves are expected to last into 2026, supporting its ongoing research and development initiatives.
Terns Pharmaceuticals (Nasdaq: TERN), a clinical-stage biopharmaceutical company, announced its participation in a fireside chat at the Guggenheim Healthcare Talks 2023 Oncology Conference on February 9, 2023, at 10:10 a.m. ET. The event will focus on Terns' innovative small-molecule product candidates aimed at addressing serious diseases such as oncology, obesity, and non-alcoholic steatohepatitis (NASH).
Additionally, a live audio webcast of the event will be accessible on the investor relations page of Terns' website, with a replay available for 30 days post-event.
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