secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2023-11-14T23:59:59+00:00
Accession:  0000950170-23-063368
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000095017023063368/0000950170-23-063368-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000095017023063368/tern-20231114.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-063368

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