---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-039867"
form_type: "8-K"
ticker: "TERN"
cik: "0001831363"
company_name: "Terns Pharmaceuticals, Inc."
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T02:45:13.137924+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Terns Pharma Q2 net loss $17.9M; positive Phase 2a NASH data for TERN-501

## Summary
- Net loss of $17.9M ($0.25 per share) vs $13.9M a year ago; R&D spend $14.2M.
- Cash $285.6M, expected to fund operations into 2026.
- Positive Phase 2a DUET trial: TERN-501 met all endpoints in NASH; 45% mean liver fat reduction at 6mg.
- TERN-701 Phase 1 for CML and TERN-601 Phase 1 for obesity both on track to start H2 2023.

## SEC filing metadata
- accession: 0000950170-23-039867
- form_type: 8-K
- ticker: TERN
- cik: 0001831363
- company_name: Terns Pharmaceuticals, Inc.
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831363/000095017023039867/0000950170-23-039867-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831363/000095017023039867/tern-20230808.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-039867
- JSON: https://secwatch.observer/filing/0000950170-23-039867.json
- Plain text: https://secwatch.observer/filing/0000950170-23-039867.txt

## Key facts
- Earnings Releases
  Terns Pharmaceuticals, Inc. reported the three and six months ended June 30, 2023 results: net income Net loss was $17.9 million for the quarter ended June 30, 2023.
  - Period: the three and six months ended June 30, 2023
  - Net income: Net loss was $17.9 million for the quarter ended June 30, 2023
  - Result: reported results
  source text: Terns Pharmaceuticals, Inc. issued a press release announcing its financial results for the three and six months ended June 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831363/000095017023039867/0000950170-23-039867-index.htm

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