Terns Pharma reports FY2022 net loss $60.3M; cash $283.1M to fund operations into 2026

Terns Pharmaceuticals, Inc.

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.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Terns Pharmaceuticals, Inc. reported the year ended December 31, 2022 results: revenue $ —, net income $ (60,345 ), EPS $ (1.67 ).

Period: the year ended December 31, 2022
Revenue: $ —
Net income: $ (60,345 )
EPS: $ (1.67 )
Result: reported results

Exact text from the filing

Quarter Ended December 31, Year Ended December 31, 2022 2021 2022 2021 Revenue: License revenue $ — $ 1,000 $ — $ 1,000 Operating expenses: Research and development 10,658 9,462 39,617 31,311 General and administrative 6,170 5,416 22,412 19,549 Total operating expenses 16,828 14,878 62,029 50,860 Loss from operations (16,828 ) (13,878 ) (62,029 ) (49,860 ) Interest income 1,328 55 2,110 170 Other (expense) income, net (4 ) 10 (68 ) 40 Loss before income taxes (15,504 ) (13,813 ) (59,987 ) (49,650 ) Income tax expense (318 ) (435 ) (358 ) (508 ) Net loss $ (15,822 ) $ (14,248 ) $ (60,345 ) $ (50,158 ) Net loss per share, basic and diluted $ (0.29 ) $ (0.56 ) $ (1.67 ) $ (2.21 ) Weighted average common stock outstanding, basic and diluted 54,696,352 25,267,527 36,033,045 22,705,948

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Terns Pharmaceuticals, Inc. reported the quarter ended December 31, 2022 results: revenue $ —, net income $ (15,822 ), EPS $ (0.29 ).

Period: the quarter ended December 31, 2022
Revenue: $ —
Net income: $ (15,822 )
EPS: $ (0.29 )
Result: reported results

Exact text from the filing

Quarter Ended December 31, Year Ended December 31, 2022 2021 2022 2021 Revenue: License revenue $ — $ 1,000 $ — $ 1,000 Operating expenses: Research and development 10,658 9,462 39,617 31,311 General and administrative 6,170 5,416 22,412 19,549 Total operating expenses 16,828 14,878 62,029 50,860 Loss from operations (16,828 ) (13,878 ) (62,029 ) (49,860 ) Interest income 1,328 55 2,110 170 Other (expense) income, net (4 ) 10 (68 ) 40 Loss before income taxes (15,504 ) (13,813 ) (59,987 ) (49,650 ) Income tax expense (318 ) (435 ) (358 ) (508 ) Net loss $ (15,822 ) $ (14,248 ) $ (60,345 ) $ (50,158 ) Net loss per share, basic and diluted $ (0.29 ) $ (0.56 ) $ (1.67 ) $ (2.21 ) Weighted average common stock outstanding, basic and diluted 54,696,352 25,267,527 36,033,045 22,705,948

View on SEC.gov

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Terns Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-010000

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