other material
confidence medium
sentiment neutral
materiality 0.40
Terns Pharmaceuticals states no exposure to SVB failure; operations unaffected
Terns Pharmaceuticals, Inc.
- 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.