Terns Q1 net loss $23.9M; advances TERN-701 CML and TERN-601 obesity trials

Terns Pharmaceuticals, Inc.

2025-Q1 EPS reported -$0.26 vs consensus -$0.29 ▲ beat (+9.0%)

Net loss $23.9M ($0.26 EPS) vs $22.4M a year ago; R&D flat at $18.7M, G&A up to $8.7M.
Cash, equivalents and marketable securities $334.3M at March 31, 2025; runway into 2028.
Initiated dose expansion in Phase 1 CARDINAL trial of TERN-701 (CML); 6-month MMR data expected Q4 2025.
Phase 2 FALCON trial of TERN-601 (obesity) enrolling; top-line 12-week weight loss data due Q4 2025.

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