---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-063368"
form_type: "8-K"
ticker: "TERN"
cik: "0001831363"
company_name: "Terns Pharmaceuticals, Inc."
filed_at: "2023-11-14T23:59:59+00:00"
generated_at: "2026-06-08T03:58:36.705676+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-063368
- form_type: 8-K
- ticker: TERN
- cik: 0001831363
- company_name: Terns Pharmaceuticals, Inc.
- filed_at: 2023-11-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831363/000095017023063368/0000950170-23-063368-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831363/000095017023063368/tern-20231114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-063368
- JSON: https://secwatch.observer/filing/0000950170-23-063368.json
- Plain text: https://secwatch.observer/filing/0000950170-23-063368.txt

## Key facts
- Earnings Releases
  Terns Pharmaceuticals, Inc. reported financial results for the quarter ended September 30, 2023.
  - Period: the quarter ended September 30, 2023
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831363/000095017023063368/0000950170-23-063368-index.htm

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