---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-066952"
form_type: "8-K"
ticker: "TERN"
cik: "0001831363"
company_name: "Terns Pharmaceuticals, Inc."
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T05:24:24.577523+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-25-066952
- form_type: 8-K
- ticker: TERN
- cik: 0001831363
- company_name: Terns Pharmaceuticals, Inc.
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831363/000095017025066952/0000950170-25-066952-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831363/000095017025066952/tern-20250508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-066952
- JSON: https://secwatch.observer/filing/0000950170-25-066952.json
- Plain text: https://secwatch.observer/filing/0000950170-25-066952.txt

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