{"filings":[{"id":95972,"accession_number":"0001193125-26-205305","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2026-05-05T23:59:59+00:00","items":["2.01","3.01","5.01","5.03","3.03","5.02","8.01","9.01"],"status":"ready","headline":"Terns Pharmaceuticals acquired by Merck for $53/share; shares to be delisted","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Offer expired May 4, 2026 with 100,091,794 shares (86.36%) validly tendered; minimum condition met.","On May 5, Purchaser accepted tendered shares and promptly merged Terns into a wholly owned Merck subsidiary.","Each share converted into $53 cash; outstanding in-the-money options and RSUs cashed out per agreement.","All incumbent directors and officers ceased; replaced by Merck designees. Charter and bylaws amended.","Nasdaq delisting effective May 5; Form 15 to be filed to terminate SEC registration and reporting."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":1.0,"calibrated_materiality_score":1.0,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":95971,"accession_number":"0001193125-26-179062","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2026-04-27T23:59:59+00:00","items":["7.01","8.01","9.01"],"status":"ready","headline":"FDA grants Breakthrough Therapy Designation to TERN-701; Merck acquisition mentioned in press release","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["FDA Breakthrough Therapy Designation for TERN-701 in Ph+ CML-CP patients without T315I mutation, previously treated with 2+ TKIs.","Designation based on CARDINAL Phase 1/2 data: encouraging major molecular response and deep molecular response rates at week 24.","TERN-701 safety profile: majority of adverse events low grade; low severe adverse events and discontinuations.","Press release also notes recent agreement for Merck to acquire Terns (Nasdaq: TERN).","CEO Amy Burroughs cites BTD and Merck deal as potential acceleration to pivotal trial and patients."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109444,"accession_number":"0001193125-26-122785","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2026-03-25T23:59:59+00:00","items":["1.01","7.01","9.01"],"status":"ready","headline":"Merck to acquire Terns for $53.00/share ($6.7B equity value); adds CML candidate TERN-701","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Merck subsidiary will pay $53.00 per share in cash, representing ~$6.7B equity value; ~$5.7B net of acquired cash.","Premium of 31% to 60-day and 42% to 90-day VWAP as of March 24, 2026.","Terns’ lead candidate TERN-701 is an investigational allosteric BCR::ABL1 inhibitor in Phase 1/2 for CML; FDA Orphan Drug Designation granted March 2024.","Transaction subject to HSR waiting period, tender of >50% of Terns shares, and other customary conditions; expected to close Q2 2026.","Merck expects ~$5.8B charge (~$2.35/share) in Q2 and full year 2026 GAAP and non-GAAP results related to the acquisition."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109443,"accession_number":"0001193125-26-019426","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2026-01-22T23:59:59+00:00","items":["1.01"],"status":"ready","headline":"Terns Pharma secures exclusive worldwide license for TERN-701 from Hansoh; $1M upfront","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Amendment grants Terns exclusive, perpetual, worldwide (excl. Hansoh territory) license to Hansoh patents for TERN-701.","Terns pays $1.0M upfront fee plus tiered royalties of 0.75%-1.25% on net sales covered by licensed patents.","License covers TERN-701 as sole active ingredient; replaces prior non-exclusive, non-sublicensable license.","Hansoh territory remains mainland China, Taiwan, Hong Kong, and Macau."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":109442,"accession_number":"0001193125-26-008907","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2026-01-09T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns announces $1.0B cash runway; TERN-701 pivotal trial planned late 2026/early 2027","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Year-end 2025 unaudited cash ~$1.0B, expected to fund operations into 2031 including potential TERN-701 launch.","Completed December 2025 public offering of 18.7M shares, gross proceeds ~$747.5M.","TERN-701 granted FDA Fast Track for CML; CARDINAL trial enrolled 85+ patients as of Dec 8, 2025.","2026 milestones: pivotal dose selection and EOP2 FDA interaction mid-2026; updated CARDINAL data by 2H26; start 2L+ pivotal trial late 2026/early 2027.","New CARDINAL cohort to evaluate TERN-701 500mg QD in patients with BCR-ABL mutations including T315I."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125934,"accession_number":"0001193125-25-315065","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-12-11T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Terns Pharmaceuticals prices upsized $650M public offering of 16.25M shares at $40/share","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Public offering of 16.25M shares at $40/share upsized; underwriters' option for 2.44M shares exercised in full.","Estimated net proceeds ~$705.8M to fund TERN-701 trials, manufacturing, and potential commercial launch prep.","Cash runway extended into 2031, based on existing cash plus estimated offering net proceeds.","Jefferies, TD Cowen, Leerink Partners lead underwriters; closing expected Dec 11, 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125933,"accession_number":"0001193125-25-311202","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-12-08T23:59:59+00:00","items":["7.01","8.01","9.01"],"status":"ready","headline":"Terns reports 64% MMR rate in Phase 1 CARDINAL trial of TERN-701 in CML; selects 320/500 mg RP2D","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Overall MMR rate of 64% (18/28) achieved by 24 weeks; cumulative MMR rate 74% (28/38).","At doses >=320 mg QD (RP2D), MMR achievement 75% (18/24) by 24 weeks; DMR rate 36% (10/28).","Safety: 87% patients on treatment; no DLTs; low Grade 3+ cytopenia (<10%); common TEAEs diarrhea, headache, nausea.","Enrollment surpassed 85 patients; company plans pivotal Phase 3 trials in 2L+ and 1L CML in 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125932,"accession_number":"0001193125-25-274282","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-11-10T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns reports Q3 net loss $24.6M; TERN-701 CML data 75% MMR at 24 weeks; halts TERN-601 GLP-1 obesity program","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["TERN-701 Phase 1 CARDINAL trial: overall MMR rate 75% by 24 weeks; 69% in patients with lack of efficacy to prior TKI.","TERN-601 Phase 2 obesity study: 4.6% placebo-adjusted weight loss, 12% discontinuation due to AEs, reversible liver enzyme elevations; development stopped.","Cash, cash equivalents and marketable securities of $295.6M as of Sep 30, 2025, expected to fund operations into 2028.","Q3 2025 net loss $24.6M vs $21.9M in Q3 2024; R&D expense rose to $19.9M from $15.2M.","Seeking strategic partners for TERN-501 (THR-β agonist) and TERN-801 (GIPR antagonist) metabolic programs."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.79,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2025-Q3","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125931,"accession_number":"0001193125-25-261798","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-11-03T23:59:59+00:00","items":["7.01","8.01","9.01"],"status":"ready","headline":"TERN-701 Phase 1 CARDINAL trial shows 75% cumulative MMR rate by 24 weeks in refractory CML; abstract at ASH","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["75% (24/32) overall cumulative MMR rate by 24 weeks; 64% (14/22) achieved MMR, 100% (10/10) maintained MMR, no MMR loss.","In difficult subgroups: 69% MMR in patients with lack of efficacy to last TKI, 60% with prior asciminib, 67% with prior asciminib/ponatinib/investigational TKI.","Safety: 87% (48/55) remain on treatment; no DLTs; Grade 3+ TEAEs <10% (neutropenia 7%, thrombocytopenia 4%).","Patients heavily pretreated: median 3 prior TKIs, 64% discontinued last TKI due to lack of efficacy, 36% had prior asciminib."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":125930,"accession_number":"0001193125-25-245404","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-10-22T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Terns Pharma discontinues obesity drug TERN-601 after Phase 2 miss; liver enzyme signals seen","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Max placebo-adjusted weight loss 4.6% (p<0.0001) at 500 mg dose; 11.9% discontinued due to AEs.","Grade 3 liver enzyme elevations in 3 participants post-treatment, 2 deemed drug-related.","Company will not advance TERN-601 or further invest in metabolic assets.","Reiterates focus on TERN-701 for CML with clinical data expected this quarter.","GI AEs most common: nausea 56%, vomiting 26.9%; all mild/moderate and dose-related."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.9,"calibrated_materiality_score":0.9,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":142682,"accession_number":"0000950170-25-103071","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-08-05T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Q2 net loss $24.1M; TERN-701 CML data and TERN-601 obesity data expected by year-end 2025","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss $24.1M for Q2 2025 vs $22.7M in Q2 2024; R&D expenses $20.4M.","Cash, equivalents and securities $315.4M as of June 30, 2025; runway into 2028.","Phase 1 CARDINAL trial of TERN-701 in CML: efficacy/safety with 6-month MMR rates expected in 4Q25.","Phase 2 FALCON trial of TERN-601 in obesity completed enrollment; 12-week top-line data expected early 4Q25.","Company focusing on advancing TERN-701 in oncology; seeking partners for metabolic assets (TERN-800, TERN-501)."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.52,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2025-Q2","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160743,"accession_number":"0000950170-25-086758","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-06-16T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Terns Pharmaceuticals elects three directors and ratifies EY as auditor at 2025 annual meeting","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Robert Azelby elected with 56.4M votes for, 3.2M withheld.","Hongbo Lu elected with 52.0M votes for, 7.6M withheld.","Heather Turner elected with 58.3M votes for, 1.3M withheld.","Ratification of Ernst & Young as independent auditor for FY2025 passed with 64.8M for, 28.5K against.","No broker non-votes on ratification; two proposals considered at June 11, 2025 meeting."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":160742,"accession_number":"0000950170-25-066952","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-05-08T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Q1 net loss $23.9M; advances TERN-701 CML and TERN-601 obesity trials","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss $23.9M ($0.26 EPS) vs $22.4M a year ago; R&D flat at $18.7M, G&A up to $8.7M.","Cash, equivalents and marketable securities $334.3M at March 31, 2025; runway into 2028.","Initiated dose expansion in Phase 1 CARDINAL trial of TERN-701 (CML); 6-month MMR data expected Q4 2025.","Phase 2 FALCON trial of TERN-601 (obesity) enrolling; top-line 12-week weight loss data due Q4 2025."],"consensus_eps_estimate":-0.2856,"consensus_eps_actual":-0.26,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2025-Q1","consensus_source":"xbrl+finnhub","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178946,"accession_number":"0000950170-25-042663","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-03-20T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Pharma reports FY2024 net loss of $88.9M; cash runway into 2028; clinical milestones for CML and obesity","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["FY2024 net loss $88.9M ($1.12/share), vs $90.2M in FY2023; R&D expenses $70.1M, G&A $31.8M.","Cash, cash equivalents and marketable securities $358.2M as of Dec 31, 2024, up from $263.4M; expected runway into 2028.","TERN-701 Phase 1 CARDINAL dose expansion to start 2Q25, with additional safety/efficacy data in 4Q25.","TERN-601 Phase 2 FALCON enrolled first patient in March 2025; 12-week top-line data expected 4Q25.","Appointed Andrew Gengos as CFO and Robert Azelby to board in February 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178945,"accession_number":"0000950170-25-025635","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-02-24T23:59:59+00:00","items":["5.02","7.01","9.01"],"status":"ready","headline":"Terns Pharma appoints Andrew Gengos as CFO effective Feb 24, 2025","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Andrew Gengos named CFO effective Feb 24; salary $510K, bonus target 40%, option for 750K shares vesting over 4 years.","Most recently CFO/Chief Business Officer at Athira Pharma (May 2023-Oct 2024); previously CEO at ImmunoCellular and Neuraltus.","CEO Amy Burroughs remains CEO but steps down as principal financial officer; David Strauss remains VP Finance and steps down as principal accounting officer.","Stock option exercise price equals closing price on start date; 25% vests at one year, then monthly over three years."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178944,"accession_number":"0000950170-25-024187","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-02-20T23:59:59+00:00","items":["5.02","7.01","9.01"],"status":"ready","headline":"Terns Pharmaceuticals appoints Robert Azelby to board; Carl Gordon resigns","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Robert Azelby appointed to Board as Class I director effective Feb 20, 2025, and joins Compensation Committee.","Carl Gordon resigned from Board effective Feb 20, 2025 after over seven years; departure not due to disagreement.","Azelby brings 25+ years biopharma experience including CEO roles at Eliem Therapeutics and Alder BioPharmaceuticals.","Azelby received option to purchase 90,000 shares vesting over three years under non-employee director compensation plan.","Company highlights TERN-701 for chronic myeloid leukemia and obesity programs approaching clinical readouts."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":178943,"accession_number":"0000950170-25-015501","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2025-02-06T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Terns Pharmaceuticals CFO Mark Vignola Departs; CEO Burroughs Takes Interim CFO Role","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["CFO Mark Vignola separated effective Feb 1, 2025; entered consulting agreement through July 2025.","CEO Amy Burroughs assumes principal financial officer; VP Finance David Strauss named principal accounting officer, each on interim basis.","Vignola receives $30k/month for first two months, $15k/month for next two, then hourly; equity awards continue vesting.","Departure not due to any disagreement with company operations, policies, or practices."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":195631,"accession_number":"0000950170-24-132452","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-12-03T23:59:59+00:00","items":["7.01","8.01","9.01"],"status":"ready","headline":"Terns reports positive Phase 1 CARDINAL data for TERN-701 in CML; MMR rate 50% at 3 months","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["15 patients enrolled across 160mg, 320mg, 400mg QD; 14 of 15 remain on treatment as of Oct 28, 2024 cutoff.","Cumulative MMR rate 50% (5/10) in non-T315i patients with ≥3 months treatment or MMR at baseline.","No dose-limiting toxicities, AE-related discontinuations, dose reductions, or Grade 3+ treatment-related AEs.","At 160mg and 320mg, free drug concentrations 4- and 8-fold above efficacious in vivo exposures.","Dose expansion to start 1H25; longer-term MMR data expected in 4Q25."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":195630,"accession_number":"0000950170-24-127964","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-11-18T23:59:59+00:00","items":["5.02","7.01","9.01"],"status":"ready","headline":"Terns Pharmaceuticals appoints Heather Turner to board; Ann Taylor resigns","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Heather Turner, former CEO of Carmot Therapeutics, appointed to Board of Directors effective Nov 18.","Ann Taylor resigned effective Nov 18; departure not due to any disagreement with company operations.","Turner brings 25 years biotech experience; led Carmot's $3.1B acquisition by Roche.","Turner also appointed to Audit Committee; eligible for standard non-employee director compensation."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":195629,"accession_number":"0000950170-24-125435","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-11-12T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Pharma Q3 net loss $21.9M; cash $372.8M; TERN-701 data Dec 2024, TERN-601 Phase 2 start 2Q25","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss of $21.9M ($0.28/share) vs $29.8M loss ($0.42) in Q3 2023; R&D $15.2M, G&A $9.8M.","Cash, equivalents and marketable securities $372.8M (incl. $172.7M equity raise in Sep) providing runway into 2028.","Interim Phase 1 CARDINAL data for TERN-701 (allosteric BCR-ABL TKI in CML) expected early December 2024.","Phase 2 trial for TERN-601 (oral GLP-1R agonist for obesity) to start early 2Q25; initial 12-week data in 2H25."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.89,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2024-Q3","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":211890,"accession_number":"0001193125-24-217444","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-09-12T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Terns Pharmaceuticals prices upsized $150M public offering; net proceeds ~$162M","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Offering of 11.9M common shares at $10.50 and 2.38M pre-funded warrants at $10.50 per underlying share.","Underwriters' option for 2.145M additional shares exercised in full; total gross proceeds ~$150M before discounts.","Estimated net proceeds of $161.9M including option; cash runway extended into 2028.","Proceeds to fund clinical trials, development of TERN-701, TERN-601 and TERN-800 series, and working capital.","Jefferies and TD Cowen lead book-running managers; closing expected September 12, 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":211889,"accession_number":"0000950170-24-104550","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-09-09T23:59:59+00:00","items":["7.01","8.01","9.01"],"status":"ready","headline":"Terns Pharma reports positive Phase 1 data for oral GLP-1R agonist TERN-601; max placebo-adjusted weight loss 4.9%","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["TERN-601 achieved 4.9% placebo-adjusted mean weight loss at 740 mg QD over 28 days (p<0.0001); 5.5% absolute mean loss.","67% of top-dose participants lost ≥5% baseline body weight; no treatment-related dose interruptions or discontinuations.","Over 95% of AEs were mild; all GI events mild-to-moderate; no serious AEs or clinically meaningful lab/vital changes.","Company plans to initiate Phase 2 in 2025, with optimal dose range identified and no additional dose exploration needed.","Terns highlights distinct drug properties (low solubility, high gut permeability, low free fraction) as potential advantages over other oral GLP-1R agonists."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":211888,"accession_number":"0000950170-24-090761","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-08-05T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Q2 net loss $22.7M; cash $225M; TERN-601 Ph1 data Sep, TERN-701 data Dec 2024","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss of $22.7M for Q2 2024 ($0.31/share) vs $17.9M ($0.25/share) in Q2 2023.","Cash, equivalents and marketable securities $225.3M, expected to fund operations into 2026.","Top-line Phase 1 data for oral GLP-1 TERN-601 (obesity) expected September 2024.","Interim Phase 1 CARDINAL trial data for allosteric BCR-ABL TERN-701 (CML) expected December 2024.","Appointed Elona Kogan as CLO; CFO search underway; Mark Vignola to serve through Jan 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.61,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2024-Q2","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":211887,"accession_number":"0000950170-24-087284","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-07-29T23:59:59+00:00","items":["5.02","7.01","9.01"],"status":"ready","headline":"Terns appoints new Chief Legal Officer; CFO and General Counsel to depart in planned transitions","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Elona Kogan appointed Chief Legal Officer effective July 29; previously CLO at Seer, Inc.","CFO Mark Vignola to leave by Feb 1, 2025 or upon successor; receives $475k severance plus $500k retention bonus.","General Counsel Bryan Yoon steps down, becomes COO/Special Counsel until Sep 3, 2024; receives $490,700 severance.","Search for new CFO underway; Vignola and Yoon remain in transition roles."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":211886,"accession_number":"0000950170-24-081531","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-07-03T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"Terns Pharmaceuticals extends office lease for 36 months through October 2027","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Lease extended from Nov 1, 2024 to Oct 31, 2027 for 9,751 sq ft in Foster City, CA.","Monthly base rent: $0 (Nov '24-Jan '25), then $43,879.50 rising to $46,551.76 by 2026-27.","Tenant pays $43,789.50 as prepaid rent for Feb 2025 upon execution of amendment.","Option to extend for additional three years with 9-12 months written notice; first refusal right deleted.","Landlord may convert building to life science lab; tenant gets rent abatement and termination rights for significant disruption."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":230680,"accession_number":"0000950170-24-072462","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-06-12T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Terns Pharmaceuticals shareholders elect Kindler and Burroughs as directors; ratify Ernst & Young as auditor","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Jeffrey Kindler elected with 45,958,352 votes for, 6,735,358 withheld, 5,131,121 broker non-votes.","Amy Burroughs elected with 52,570,019 votes for, 123,691 withheld, 5,131,121 broker non-votes.","Ernst & Young ratified as independent auditor for FY2024 with 57,570,954 for, 23,950 against, 229,927 abstentions.","Annual Meeting held June 10, 2024; 64,674,780 shares outstanding and entitled to vote as of record date."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.15,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":230679,"accession_number":"0000950170-24-058209","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-05-13T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Pharma Q1 net loss $22.4M; pipeline data expected H2 2024","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss $22.4M ($0.30 per share) vs $21.5M ($0.31) in Q1 2023; R&D expense $18.6M.","Cash $240.7M at March 31, 2024, down from $263.4M; runway into 2026.","Interim TERN-701 CARDINAL dose-escalation data expected 2H24; FDA Orphan Drug Designation granted.","Top-line 28-day weight loss data from TERN-601 Phase 1 obesity trial expected 2H24.","Leadership: Melita Sun Jung appointed CBO, Scott Harris appointed CDO; Erin Quirk departing as president/R&D head."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.3,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2024-Q1","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":230678,"accession_number":"0000950170-24-049870","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-04-29T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Terns reports TERN-701 Phase 1 PK data: no food effect, once-daily dosing supported","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["TERN-701 showed no clinically significant food effect at 80 mg; supports dosing with or without food.","PK linear across 20-160 mg; median half-life 8-12 hours; exposures at 80 and 160 mg met predicted efficacious levels.","Phase 1 CARDINAL trial in 2L+ CML ongoing; interim dose escalation data expected H2 2024.","No clinically meaningful changes in lab data, vital signs, or ECG across all dose levels.","Data consistent with Chinese Phase 1 study; plans to present at upcoming scientific conference."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.45,"calibrated_materiality_score":0.45,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":249060,"accession_number":"0000950170-24-031468","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-03-14T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Pharma FY2023 net loss $90.2M; cash $263.4M; key trial data expected H2 2024","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss of $21.0M in Q4 2023 and $90.2M for full year 2023, vs $15.8M and $60.3M in prior year.","Cash, equivalents and securities $263.4M at Dec 31, 2023; funding expected into 2026.","CEO Amy Burroughs appointed in Feb 2024; FDA orphan drug designation for TERN-701 (CML) in March 2024.","Phase 1 TERN-701 CARDINAL interim data and TERN-601 (GLP-1) 28-day weight loss data both expected H2 2024.","R&D spend rose to $63.5M in FY2023 (from $39.6M) as clinical programs advanced."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":249059,"accession_number":"0001193125-24-026712","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2024-02-07T23:59:59+00:00","items":["5.02","7.01","9.01"],"status":"ready","headline":"Terns Pharmaceuticals appoints Amy Burroughs as CEO and director effective Feb 7, 2024","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Amy Burroughs appointed CEO effective Feb 7, 2024; Jill Quigley becomes independent director after serving as Interim Senior Advisor.","Burroughs receives $625k salary, 50% target bonus, option to buy 1.25M shares, and 150k RSUs with price milestones at $15 and $20.","Burroughs previously CEO of Cleave Therapeutics, brings over 25 years experience in biotech and commercial roles.","Equity awards previously granted to Quigley will continue to vest based on her director service."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":266591,"accession_number":"0000950170-23-063368","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2023-11-14T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Pharma Q3 net loss $29.8M; advances TERN-701 CML trial, TERN-601 obesity trial","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss $29.8M ($0.42/sh) vs $16.8M ($0.44/sh) in Q3 2022; G&A expenses surged to $18.4M from $5.1M.","Cash $266.6M as of Sep 30, 2023 vs $283.1M at Dec 31, 2022; expected runway into 2026.","Phase 1 global trial (CARDINAL) of TERN-701 (allosteric BCR-ABL) for CML cleared; screening starts Dec 2023; interim data H2 2024.","First participant dosed in Phase 1 trial of TERN-601 (oral GLP-1) for obesity; 28-day proof-of-concept data expected H2 2024.","Positive Phase 2a DUET data for TERN-501 (THR-β) in NASH met all primary/secondary endpoints."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.98,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2023-Q3","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":266590,"accession_number":"0000950170-23-052653","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2023-10-10T23:59:59+00:00","items":["5.03","9.01"],"status":"ready","headline":"Terns Pharmaceuticals Amends Bylaws to Add Universal Proxy Rule Compliance Requirements for Director Nominations","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Board approved amended and restated bylaws on October 4, 2023.","Amended bylaws revise procedures and disclosure for director nominations.","Stockholders must provide evidence of compliance with Rule 14a-19 no later than five business days before the meeting.","Changes are effective as of October 4, 2023."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":283826,"accession_number":"0000950170-23-039867","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2023-08-08T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Pharma Q2 net loss $17.9M; positive Phase 2a NASH data for TERN-501","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss of $17.9M ($0.25 per share) vs $13.9M a year ago; R&D spend $14.2M.","Cash $285.6M, expected to fund operations into 2026.","Positive Phase 2a DUET trial: TERN-501 met all endpoints in NASH; 45% mean liver fat reduction at 6mg.","TERN-701 Phase 1 for CML and TERN-601 Phase 1 for obesity both on track to start H2 2023."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.56,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2023-Q2","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":283825,"accession_number":"0001193125-23-203000","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2023-08-03T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Terns CEO Senthil Sundaram resigns for health reasons; Erin Quirk assumes leadership as principal executive officer","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Senthil Sundaram resigned as CEO and Board member due to health reasons previously disclosed in January 2022.","Erin Quirk, M.D., President and Head of R&D, assumed leadership effective immediately as principal executive officer.","Sundaram will remain as a Senior Advisor to the company.","Company plans three key clinical data readouts across three programs by end of 2024; balance sheet supports milestones."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":303404,"accession_number":"0000950170-23-027988","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2023-06-14T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Terns Pharmaceuticals stockholders elect three Class II directors, ratify E&Y as auditor","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["David Fellows, Jill Quigley, and Radhika Tripuraneni elected as Class II directors with 39.5M, 40.1M, and 45.9M votes for, respectively.","Ratification of Ernst & Young as independent auditor for FY 2023 passed with 53.4M votes for, 1,549 against, 331 abstentions.","All director nominees received more votes for than withheld; broker non-votes of 7.4M shares on director election.","No other business items were presented; all proposals were approved as described in the April 28 proxy statement."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":303403,"accession_number":"0000950170-23-022264","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2023-05-15T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Terns Pharmaceuticals enters $150M ATM equity offering with Cowen","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Up to $150M of common stock may be sold at-the-market through sales agent Cowen.","Cowen receives up to 3.0% of gross proceeds from shares sold under the agreement.","Sales may be made on Nasdaq or as principal; either party can suspend the offering.","Shares offered under existing shelf registration statement on Form S-3 effective Feb 10, 2023.","Legal opinion from Wilmer Cutler Pickering Hale and Dorr LLP included as exhibit."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":303402,"accession_number":"0000950170-23-021986","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2023-05-15T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Pharma Q1 net loss $21.5M; cash $298M; clinical milestones on track for 2023","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss $21.5M ($0.31/share) vs $13.8M ($0.55/share) in Q1 2022; R&D spend rose to $17.1M from $8.1M.","Cash, equivalents and marketable securities $297.5M as of Mar 31, 2023, providing runway into 2026.","TERN-501 Phase 2a NASH data (DUET trial) expected Q3 2023; TERN-701 US CML trial to start H2 2023.","TERN-601 (GLP-1) Phase 1 obesity trial on track for H2 2023 with initial data in 2024.","Appointed Emil Kuriakose, M.D. as Chief Medical Officer of Oncology in May 2023."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.31,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2023-Q1","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":323037,"accession_number":"0000950170-23-010000","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2023-03-27T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Pharma reports FY2022 net loss $60.3M; cash $283.1M to fund operations into 2026","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss $60.3M for 2022 vs $50.2M in 2021; diluted EPS $1.67 vs $2.21.","Cash, equivalents and marketable securities $283.1M at Dec 31, 2022; expected runway into 2026.","R&D expenses $39.6M in 2022, up from $31.3M; G&A $22.4M vs $19.5M.","Emil Kuriakose to join as CMO oncology in May 2023; Jason Lettiere joined as VP business Dev Nov 2022.","Phase 2a DUET NASH data expected Q3 2023; key CML and obesity readouts in 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":323036,"accession_number":"0000950170-23-007597","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2023-03-13T23:59:59+00:00","items":["7.01"],"status":"ready","headline":"Terns Pharmaceuticals states no exposure to SVB failure; operations unaffected","summary_kind":"llm","event_type":"other_material","confidence":"medium","bullets":["Cash equivalents and marketable securities held at multiple large financial institutions.","Cash balances in operating accounts also at multiple large banks, not concentrated at SVB.","Company does not expect any disruptions to operations, including payroll, from recent bank closures.","Forward-looking statements about sufficiency of cash resources."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":323035,"accession_number":"0000950170-23-005830","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2023-03-02T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Terns Pharma completes NASH trial enrollment, on track for CML and obesity trials in H2 2023","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Completed enrollment in Phase 2a DUET trial of TERN-501 (THR-β agonist) for NASH; top-line data expected Q3 2023.","On track to initiate U.S. Phase 1 trial for TERN-701 (allosteric BCR-ABL inhibitor) in CML in H2 2023; China Phase 1 update at major oncology conference.","IND-enabling activities for TERN-601 (oral GLP-1R agonist) ongoing; first-in-human obesity trial expected H2 2023 with top-line data in 2024.","FDA Type C meeting scheduled for May 2023 to discuss non-invasive endpoints for NASH development.","Adjusted cash balance of $293M (including $112M Dec 2022 equity financing) expected to provide runway into 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":323034,"accession_number":"0000950170-23-000233","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2023-01-05T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Terns Pharmaceuticals details 2023 clinical milestones; cash runway to 2026","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Plan to initiate US Phase 1 trial for TERN-701 (CML) in H2 2023; top-line readouts 2024. Due to IRA, will not seek US approval for Ph+ ALL.","Phase 2a DUET trial of TERN-501 (NASH) expects enrollment completion Q1 2023, top-line data Q3 2023; first combo of THR-β and FXR agonist.","Obesity program TERN-601 (GLP-1 agonist) Phase 1 start H2 2023, top-line data in 2024; preclinical data to be published.","Cash runway extended to 2026: $293M adjusted cash includes $106M net from Dec 2022 equity offering; excludes potential collaborations."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":341109,"accession_number":"0000950170-22-027006","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2022-12-23T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Terns Pharmaceuticals prices $75M public offering of 10.35M shares at $7.25","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Underwritten offering of 10,350,000 shares at $7.25 per share; gross proceeds ~$75M.","Underwriters' option for 1,552,500 additional shares exercised in full; net proceeds ~$80.8M.","Proceeds to advance TERN-501, TERN-701, and TERN-601 clinical programs and for working capital.","Lead book-runners: Jefferies and Cowen; co-managers: UBS, Mizuho, JMP Securities.","Offering priced Dec 20, 2022; closed Dec 23, 2022."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":341108,"accession_number":"0000950170-22-023887","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2022-11-09T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Pharma Q3 net loss $16.8M; cash $187M; pipeline on track for 2023 trials","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss of $16.8M for Q3 2022 ($0.44 per share), compared to $11.8M ($0.47) in Q3 2021.","Cash, cash equivalents and marketable securities totaled $187.3M at Sept 30, 2022, providing runway into 2025.","R&D expenses rose to $12.2M (Q3 2022) from $7.2M (Q3 2021); G&A expenses were $5.1M vs $4.7M.","Plan to initiate U.S. Phase 1 trial for TERN-701 (allosteric BCR-ABL) in CML in H2 2023; top-line DUET data for TERN-501 expected H2 2023.","IND-enabling activities for TERN-601 (oral GLP-1R) on track; first-in-human obesity trial planned in 2023."],"consensus_eps_estimate":null,"consensus_eps_actual":-1.5,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2022-Q3","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":358218,"accession_number":"0000950170-22-017517","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2022-08-16T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Terns raises $65M in oversubscribed equity offering; funds TERN-701, TERN-601, NASH trials","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Offering: 12.25M shares at $2.42/share; pre-funded warrants to buy 14.63M shares at $2.4199/warrant.","Gross proceeds ~$65M; net proceeds ~$60.7M after underwriting discounts and expenses.","Oversubscribed; led by new investors Fairmount and Venrock; Cowen lead manager, UBS bookrunner.","Net proceeds to advance TERN-701 (CML), TERN-601 (obesity) into Phase 2, and complete Phase 2a DUET NASH trial.","Offering closed August 16, 2022; priced above Nasdaq minimum price; existing investors participated."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":358217,"accession_number":"0000950170-22-015549","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2022-08-08T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Pharma Q2 net loss widens to $13.9M; cash runway into 2025","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss of $13.9M ($0.55 per share) vs $10.7M ($0.43) in Q2 2021.","Cash and equivalents $139.8M as of June 30, down from $166.0M at Dec 31, 2021; expected to fund operations into 2025.","R&D expenses $8.7M (up from $6.0M); G&A $5.4M (up from $4.9M).","TERN-701 Phase 1 CML trial initiated in China; TERN-601 IND-enabling on track for Phase 1 obesity trial in 2023.","TERN-501 Phase 2a DUET NASH trial initiated; top-line data expected H2 2023."],"consensus_eps_estimate":null,"consensus_eps_actual":-1.1,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2023-Q2","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":358216,"accession_number":"0000950170-22-013212","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2022-07-27T23:59:59+00:00","items":["5.02","7.01","9.01"],"status":"ready","headline":"Terns appoints Dr. Radhika Tripuraneni to board of directors","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Dr. Tripuraneni appointed as Class II director and Audit Committee member effective July 26, 2022.","She is Chief Development Officer of Prothena Corporation plc with over 15 years of drug development experience.","No material transaction or arrangement exists with Dr. Tripuraneni or any related party."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":376950,"accession_number":"0000950170-22-011812","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2022-06-17T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Terns Pharma stockholders elect three Class I directors and ratify E&Y as auditor","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Carl Gordon, Hongbo Lu, and Ann Taylor elected as Class I directors, each with majority votes.","Gordon received 18,623,269 votes for (2,386,359 withheld); Lu received 16,687,573 for (4,322,055 withheld).","Taylor received 20,998,888 votes for (10,740 withheld); broker non-votes of 1,626,573 on all director elections.","Ernst & Young ratified as auditor for FY2022 with 22,635,538 votes for, 363 against, 300 abstentions.","Meeting held June 16, 2022; record date April 22, 2022 with 25,269,271 shares entitled to vote."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":376949,"accession_number":"0000950170-22-011025","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2022-06-01T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Terns Pharmaceuticals appoints Kerry Russell as Chief Medical Officer effective June 1, 2022","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Kerry Russell, M.D., Ph.D., named CMO, reporting to President and Head of R&D Erin Quirk, M.D.","Dr. Russell previously VP of late clinical development at Dicerna Pharmaceuticals (acquired by Novo Nordisk).","She held leadership roles at resTORbio, Novartis, and was an NIH-funded associate professor at Yale.","Terns expects key clinical data readouts for TERN-501, TERN-601, and TERN-701 across NASH, obesity, and CML."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":376948,"accession_number":"0000950170-22-010095","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2022-05-16T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Terns Pharma Q1 net loss $13.8M; cash $151.3M; pipeline prioritization extends runway into 2025","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss of $13.8M ($0.55 per share) vs $13.3M in Q1 2021; R&D $8.1M, G&A $5.7M.","Cash and equivalents $151.3M, expected to fund operations into 2025 with three clinical readouts.","IND opened for NASH Phase 2a trial of TERN-501 (mono + combo with TERN-101); top-line data expected H2 2023.","TERN-601 (oral GLP-1) IND-enabling underway; Phase 1 for obesity expected in 2023.","Partner Hansoh initiated Phase 1 trial of TERN-701 in CML in China; dosing underway."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.55,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":"2023-Q1","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":395299,"accession_number":"0000950170-22-004229","cik":1831363,"company_name":"Terns Pharmaceuticals, Inc.","ticker":"TERN","form_type":"8-K","filed_at":"2022-03-21T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Terns' TERN-201 Phase 1b AVIATION trial meets safety; no efficacy in NASH","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Part 1 of Phase 1b AVIATION trial of TERN-201 10 mg met primary safety endpoint; well-tolerated with no SAEs.","No meaningful changes in exploratory NASH biomarkers (cT1, ALT, AST, GGT, CK-18) vs placebo.","Near complete (>98%) VAP-1 inhibition achieved but no efficacy signals.","Part 2 (20 mg) ongoing; top-line results expected H2 2022.","Cash runway into 2024; pipeline includes TERN-501 Phase 2a in H1 2022 and TERN-601 Phase 1 in 2023."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":6116850000.0,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null}],"next_cursor":"2022-03-21T23:59:59+00:00|395299"}