Terns Pharmaceuticals, Inc. - TERN STOCK NEWS

Terns Pharmaceuticals is advancing its clinical pipeline in oncology and metabolic diseases, with key trials planned for 2023. The company expects to initiate proof of concept trials for TERN-701 in chronic myeloid leukemia (CML) and TERN-601 for obesity. Additionally, top-line data from the DUET trial, investigating TERN-501 for non-alcoholic steatohepatitis (NASH), is expected later this year. The company has a strengthened cash position of $293 million, sufficient to support operations into 2026, allowing multiple clinical trials to proceed.

Terns Pharmaceuticals announced the closing of its underwritten public offering of 11,902,500 shares at a price of $7.25 per share, raising approximately $86.3 million in gross proceeds. The offering saw additional shares sold due to underwriters’ full exercise of their option. Proceeds will be used to advance clinical programs TERN-501, TERN-701, TERN-601, and for working capital. The company is focused on treating serious diseases, including oncology, obesity, and NASH. Jefferies and Cowen acted as lead managers for the offering.

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.