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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, based in Foster City, is set to present at the H. C. Wainwright 6th Annual NASH Investor Conference on October 17, 2022, at 11:30 a.m. ET. The company focuses on developing small-molecule therapies targeting serious diseases, including oncology, obesity, and non-alcoholic steatohepatitis (NASH). A live webcast of the presentation will be available on their investor relations page, with a replay accessible for 30 days. Terns' pipeline includes multiple clinical-stage programs aimed at serious health conditions.
Terns Pharmaceuticals, a clinical-stage biopharmaceutical company (Nasdaq: TERN), is set to present at the H.C. Wainwright 24th Annual Global Investment Conference on September 14, 2022, at 2:00 p.m. ET. The company focuses on developing small-molecule therapies for serious diseases, including oncology, obesity, and non-alcoholic steatohepatitis (NASH). Interested investors can access a live audio webcast of the presentation on Terns' investor relations page, with a replay available for 30 days post-event.
Terns Pharmaceuticals has announced an underwritten public offering of 12,250,000 shares at $2.42 each and pre-funded warrants for 14,630,000 additional shares at $2.4199 each, targeting gross proceeds of approximately $65 million. The offering, which is set to close on August 16, 2022, is oversubscribed and led by new investors, including Fairmount and Venrock Healthcare Capital Partners. Proceeds will fund clinical studies in chronic myeloid leukemia, obesity, and ongoing trials for NASH, alongside general corporate purposes.
Terns Pharmaceuticals reported progress on its clinical trials for three drug candidates targeting chronic myeloid leukemia, obesity, and NASH. TERN-701 is advancing to a Phase 1 trial in China, while TERN-601 is on schedule to begin a Phase 1 obesity trial in 2023. The company initiated dosing for TERN-501 in a Phase 2a trial for NASH, with results expected in the second half of 2023. As of June 30, 2022, Terns has $140 million in cash, providing a financial runway into 2025, despite a net loss of $13.9 million for the quarter.
On July 27, 2022, Terns Pharmaceuticals (Nasdaq: TERN) appointed Dr. Radhika Tripuraneni to its Board of Directors. Dr. Tripuraneni, the Chief Development Officer at Prothena Corporation, boasts over 15 years of drug development experience. She aims to leverage her expertise to guide Terns in advancing its pipeline of small-molecule candidates targeting serious diseases such as NASH, obesity, and cancer. CEO Sen Sundaram emphasized her valuable support in generating meaningful clinical data for these significant unmet needs.
Terns Pharmaceuticals presented positive results from its Phase 1 trial of TERN-501 at the EASL International Liver Congress 2022. The treatment was well-tolerated and showed significant dose-dependent effects on key biomarkers after 14 days. The company also highlighted its pipeline, including TERN-101 and TERN-201, with promising data supporting their potential in treating non-alcoholic steatohepatitis (NASH). Terns announced they will initiate a combination NASH trial with TERN-501 and TERN-101, with results expected in late 2023.
On June 8, 2022, Terns Pharmaceuticals (Nasdaq: TERN) announced that five abstracts concerning its non-alcoholic steatohepatitis (NASH) programs have been accepted for presentation at The International Liver Congress 2022, scheduled for June 22-26 in London. Key presentations include results from a first-in-human trial of TERN-501 and safety data on TERN-101 and TERN-201, showcasing their potential efficacy and favorable safety profiles. All abstracts will be published in the Journal of Hepatology.
Terns Pharmaceuticals has appointed Kerry Russell, M.D., Ph.D., as its new chief medical officer, reporting to Erin Quirk, M.D., President and Head of Research & Development. This strategic move aims to enhance Terns' expertise, particularly in progressing its clinical pipeline targeting serious diseases like non-alcoholic steatohepatitis (NASH), obesity, and chronic myeloid leukemia. With several key clinical trial data readouts expected in the coming years, Terns is focused on advancing its promising pipeline candidates.
Terns Pharmaceuticals reported advancements in its clinical pipeline, including the opening of an IND for a Phase 2a trial of TERN-501 for NASH, expected to yield top-line data in late 2023. TERN-601 is in IND-enabling studies for obesity, with a Phase 1 trial initiation anticipated in 2023. Additionally, the Phase 1 trial for TERN-701, targeting chronic myeloid leukemia, has commenced in China. The company maintains a robust cash position of $151 million, projected to sustain operations into 2025, covering three expected clinical trial readouts.
Terns Pharmaceuticals, a clinical-stage biopharmaceutical company focusing on serious diseases like NASH and obesity, will present at the 21st Annual Needham Virtual Healthcare Conference.
The presentation is scheduled for April 11, 2022, at 2:15 p.m. ET. Investors can access a live audio webcast via Terns' investor relations webpage, with a replay available for 30 days post-event.
Terns is developing a diverse pipeline of therapies, including an FXR agonist and a VAP-1 inhibitor.
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