Terns Pharma Q1 net loss $22.4M; pipeline data expected H2 2024

Terns Pharmaceuticals, Inc.

2024-Q1 EPS reported -$0.30

Net loss $22.4M ($0.30 per share) vs $21.5M ($0.31) in Q1 2023; R&D expense $18.6M.
Cash $240.7M at March 31, 2024, down from $263.4M; runway into 2026.
Interim TERN-701 CARDINAL dose-escalation data expected 2H24; FDA Orphan Drug Designation granted.
Top-line 28-day weight loss data from TERN-601 Phase 1 obesity trial expected 2H24.
Leadership: Melita Sun Jung appointed CBO, Scott Harris appointed CDO; Erin Quirk departing as president/R&D head.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Terns Pharmaceuticals, Inc. reported the first quarter ended March 31, 2024 results: net income $22.4 million, EPS $(0.30).

Period: the first quarter ended March 31, 2024
Net income: $22.4 million
EPS: $(0.30)
Result: reported results

Exact text from the filing

Net loss was $22.4 million for the quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0000950170-24-058209

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