secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0000950170-24-125435
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Terns Pharma Q3 net loss $21.9M; cash $372.8M; TERN-701 data Dec 2024, TERN-601 Phase 2 start 2Q25
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- Net loss of $21.9M ($0.28/share) vs $29.8M loss ($0.42) in Q3 2023; R&D $15.2M, G&A $9.8M.
- Cash, equivalents and marketable securities $372.8M (incl. $172.7M equity raise in Sep) providing runway into 2028.
- Interim Phase 1 CARDINAL data for TERN-701 (allosteric BCR-ABL TKI in CML) expected early December 2024.
- Phase 2 trial for TERN-601 (oral GLP-1R agonist for obesity) to start early 2Q25; initial 12-week data in 2H25.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000095017024125435/0000950170-24-125435-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000095017024125435/tern-20241112.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-125435

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