secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0000950170-22-023887
Event type: earnings
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Terns Pharma Q3 net loss $16.8M; cash $187M; pipeline on track for 2023 trials
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000095017022023887/0000950170-22-023887-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000095017022023887/tern-20221109.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-023887

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