secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2025-03-20T23:59:59+00:00
Accession:  0000950170-25-042663
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Terns Pharma reports FY2024 net loss of $88.9M; cash runway into 2028; clinical milestones for CML and obesity
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- FY2024 net loss $88.9M ($1.12/share), vs $90.2M in FY2023; R&D expenses $70.1M, G&A $31.8M.
- Cash, cash equivalents and marketable securities $358.2M as of Dec 31, 2024, up from $263.4M; expected runway into 2028.
- TERN-701 Phase 1 CARDINAL dose expansion to start 2Q25, with additional safety/efficacy data in 4Q25.
- TERN-601 Phase 2 FALCON enrolled first patient in March 2025; 12-week top-line data expected 4Q25.
- Appointed Andrew Gengos as CFO and Robert Azelby to board in February 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000095017025042663/0000950170-25-042663-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000095017025042663/tern-20250320.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-042663

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