{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-010000","form_type":"8-K","ticker":"TERN","cik":"0001831363","company_name":"Terns Pharmaceuticals, Inc.","filed_at":"2023-03-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.908879+00:00","generated_at":"2026-06-17T15:29:19.576140+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Terns Pharma reports FY2022 net loss $60.3M; cash $283.1M to fund operations into 2026","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."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-010000","json":"https://secwatch.observer/filing/0000950170-23-010000.json","markdown":"https://secwatch.observer/filing/0000950170-23-010000.md","text":"https://secwatch.observer/filing/0000950170-23-010000.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1831363/000095017023010000/0000950170-23-010000-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1831363/000095017023010000/tern-20230327.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T15:29:19.576140+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"607492fb337cafc3d05a6d02dec45f941264ac44","claim":"Terns Pharmaceuticals, Inc. reported the year ended December 31, 2022 results: revenue $ —, net income $ (60,345 ), EPS $ (1.67 ).","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1831363/000095017023010000/0000950170-23-010000-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the year ended December 31, 2022"},{"label":"Revenue","value":"$ —"},{"label":"Net income","value":"$ (60,345 )"},{"label":"EPS","value":"$ (1.67 )"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"f1d9f128356624af6a50327431efcec4eab1ecb6","claim":"Terns Pharmaceuticals, Inc. reported the quarter ended December 31, 2022 results: revenue $ —, net income $ (15,822 ), EPS $ (0.29 ).","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1831363/000095017023010000/0000950170-23-010000-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended December 31, 2022"},{"label":"Revenue","value":"$ —"},{"label":"Net income","value":"$ (15,822 )"},{"label":"EPS","value":"$ (0.29 )"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}