---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-058209"
form_type: "8-K"
ticker: "TERN"
cik: "0001831363"
company_name: "Terns Pharmaceuticals, Inc."
filed_at: "2024-05-13T23:59:59+00:00"
generated_at: "2026-06-02T02:40:33.460870+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-058209
- form_type: 8-K
- ticker: TERN
- cik: 0001831363
- company_name: Terns Pharmaceuticals, Inc.
- filed_at: 2024-05-13T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831363/000095017024058209/0000950170-24-058209-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831363/000095017024058209/tern-20240513.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-058209
- JSON: https://secwatch.observer/filing/0000950170-24-058209.json
- Plain text: https://secwatch.observer/filing/0000950170-24-058209.txt

## Key facts
- Earnings Releases
  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
  source text: Net loss was $22.4 million for the quarter ended March 31, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831363/000095017024058209/0000950170-24-058209-index.htm

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