---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-103071"
form_type: "8-K"
ticker: "TERN"
cik: "0001831363"
company_name: "Terns Pharmaceuticals, Inc."
filed_at: "2025-08-05T23:59:59+00:00"
generated_at: "2026-05-17T20:58:19.720768+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0000950170-25-103071
- form_type: 8-K
- ticker: TERN
- cik: 0001831363
- company_name: Terns Pharmaceuticals, Inc.
- filed_at: 2025-08-05T23:59:59+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/1831363/000095017025103071/0000950170-25-103071-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831363/000095017025103071/tern-20250805.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-103071
- JSON: https://secwatch.observer/filing/0000950170-25-103071.json
- Plain text: https://secwatch.observer/filing/0000950170-25-103071.txt

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