Terns Pharma discontinues obesity drug TERN-601 after Phase 2 miss; liver enzyme signals seen

Terns Pharmaceuticals, Inc.

Max placebo-adjusted weight loss 4.6% (p<0.0001) at 500 mg dose; 11.9% discontinued due to AEs.
Grade 3 liver enzyme elevations in 3 participants post-treatment, 2 deemed drug-related.
Company will not advance TERN-601 or further invest in metabolic assets.
Reiterates focus on TERN-701 for CML with clinical data expected this quarter.
GI AEs most common: nausea 56%, vomiting 26.9%; all mild/moderate and dose-related.

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