secwatch.observer — SEC 8-K summary
======================================

Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2025-08-05T23:59:59+00:00
Accession:  0000950170-25-103071
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000095017025103071/0000950170-25-103071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000095017025103071/tern-20250805.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-103071

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