---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-031468"
form_type: "8-K"
ticker: "TERN"
cik: "0001831363"
company_name: "Terns Pharmaceuticals, Inc."
filed_at: "2024-03-14T23:59:59+00:00"
generated_at: "2026-06-04T21:36:08.960373+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Terns Pharma FY2023 net loss $90.2M; cash $263.4M; key trial data expected H2 2024

## Summary
- Net loss of $21.0M in Q4 2023 and $90.2M for full year 2023, vs $15.8M and $60.3M in prior year.
- Cash, equivalents and securities $263.4M at Dec 31, 2023; funding expected into 2026.
- CEO Amy Burroughs appointed in Feb 2024; FDA orphan drug designation for TERN-701 (CML) in March 2024.
- Phase 1 TERN-701 CARDINAL interim data and TERN-601 (GLP-1) 28-day weight loss data both expected H2 2024.
- R&D spend rose to $63.5M in FY2023 (from $39.6M) as clinical programs advanced.

## SEC filing metadata
- accession: 0000950170-24-031468
- form_type: 8-K
- ticker: TERN
- cik: 0001831363
- company_name: Terns Pharmaceuticals, Inc.
- filed_at: 2024-03-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831363/000095017024031468/0000950170-24-031468-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831363/000095017024031468/tern-20240314.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-031468
- JSON: https://secwatch.observer/filing/0000950170-24-031468.json
- Plain text: https://secwatch.observer/filing/0000950170-24-031468.txt

## Key facts
- Earnings Releases
  Terns Pharmaceuticals, Inc. reported financial results for fourth quarter and full year ended December 31, 2023.
  - Period: fourth quarter and full year ended December 31, 2023
  - Result: reported results
  source text: On March 14, 2024, Terns Pharmaceuticals, Inc. issued a press release announcing its financial results for the year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831363/000095017024031468/0000950170-24-031468-index.htm

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