secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0000950170-23-021986
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000095017023021986/0000950170-23-021986-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000095017023021986/tern-20230515.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-021986

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer