secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2024-03-14T23:59:59+00:00
Accession:  0000950170-24-031468
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000095017024031468/0000950170-24-031468-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000095017024031468/tern-20240314.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-031468

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