Terns Pharma Q3 net loss $29.8M; advances TERN-701 CML trial, TERN-601 obesity trial

Terns Pharmaceuticals, Inc.

2023-Q3 EPS reported -$0.98

Net loss $29.8M ($0.42/sh) vs $16.8M ($0.44/sh) in Q3 2022; G&A expenses surged to $18.4M from $5.1M.
Cash $266.6M as of Sep 30, 2023 vs $283.1M at Dec 31, 2022; expected runway into 2026.
Phase 1 global trial (CARDINAL) of TERN-701 (allosteric BCR-ABL) for CML cleared; screening starts Dec 2023; interim data H2 2024.
First participant dosed in Phase 1 trial of TERN-601 (oral GLP-1) for obesity; 28-day proof-of-concept data expected H2 2024.
Positive Phase 2a DUET data for TERN-501 (THR-β) in NASH met all primary/secondary endpoints.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Terns Pharmaceuticals, Inc. reported financial results for the quarter ended September 30, 2023.

Period: the quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 14, 2023, Terns Pharmaceuticals, Inc. issued a press release announcing its financial results for the three and nine months ended September 30, 2023.

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Terns Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-063368

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