---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-021986"
form_type: "8-K"
ticker: "TERN"
cik: "0001831363"
company_name: "Terns Pharmaceuticals, Inc."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:32:40.552776+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Terns Pharma Q1 net loss $21.5M; cash $298M; clinical milestones on track for 2023

## Summary
- Net loss $21.5M ($0.31/share) vs $13.8M ($0.55/share) in Q1 2022; R&D spend rose to $17.1M from $8.1M.
- Cash, equivalents and marketable securities $297.5M as of Mar 31, 2023, providing runway into 2026.
- TERN-501 Phase 2a NASH data (DUET trial) expected Q3 2023; TERN-701 US CML trial to start H2 2023.
- TERN-601 (GLP-1) Phase 1 obesity trial on track for H2 2023 with initial data in 2024.
- Appointed Emil Kuriakose, M.D. as Chief Medical Officer of Oncology in May 2023.

## SEC filing metadata
- accession: 0000950170-23-021986
- form_type: 8-K
- ticker: TERN
- cik: 0001831363
- company_name: Terns Pharmaceuticals, Inc.
- filed_at: 2023-05-15T23:59:59+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/1831363/000095017023021986/0000950170-23-021986-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831363/000095017023021986/tern-20230515.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-021986
- JSON: https://secwatch.observer/filing/0000950170-23-021986.json
- Plain text: https://secwatch.observer/filing/0000950170-23-021986.txt

## Key facts
- Earnings Releases
  Terns Pharmaceuticals, Inc. reported the first quarter ended March 31, 2023 results: net income Net loss was $21.5 million, EPS Net loss per share, basic and diluted $ (0.31).
  - Period: the first quarter ended March 31, 2023
  - Net income: Net loss was $21.5 million
  - EPS: Net loss per share, basic and diluted $ (0.31)
  - Result: reported results
  source text: Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, non-alcoholic steatohepatitis (NASH) and obesity, today reported financial results for the first quarter ended March 31, 2023 and corporate updates.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831363/000095017023021986/0000950170-23-021986-index.htm

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