---
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"
generated_at: "2026-06-17T15:29:19.576140+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-010000
- JSON: https://secwatch.observer/filing/0000950170-23-010000.json
- Plain text: https://secwatch.observer/filing/0000950170-23-010000.txt

## Key facts
- Earnings Releases
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1831363/000095017023010000/0000950170-23-010000-index.htm
- Earnings Releases
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1831363/000095017023010000/0000950170-23-010000-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.