secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2022-05-16T23:59:59+00:00
Accession:  0000950170-22-010095
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Terns Pharma Q1 net loss $13.8M; cash $151.3M; pipeline prioritization extends runway into 2025
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000095017022010095/0000950170-22-010095-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000095017022010095/tern-20220516.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-010095

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer