Terns Q2 net loss $24.1M; TERN-701 CML data and TERN-601 obesity data expected by year-end 2025

Terns Pharmaceuticals, Inc.

2025-Q2 EPS reported -$0.52

Net loss $24.1M for Q2 2025 vs $22.7M in Q2 2024; R&D expenses $20.4M.
Cash, equivalents and securities $315.4M as of June 30, 2025; runway into 2028.
Phase 1 CARDINAL trial of TERN-701 in CML: efficacy/safety with 6-month MMR rates expected in 4Q25.
Phase 2 FALCON trial of TERN-601 in obesity completed enrollment; 12-week top-line data expected early 4Q25.
Company focusing on advancing TERN-701 in oncology; seeking partners for metabolic assets (TERN-800, TERN-501).

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