---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-274282"
form_type: "8-K"
ticker: "TERN"
cik: "0001831363"
company_name: "Terns Pharmaceuticals, Inc."
filed_at: "2025-11-10T23:59:59+00:00"
generated_at: "2026-05-16T22:35:02.262888+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Terns reports Q3 net loss $24.6M; TERN-701 CML data 75% MMR at 24 weeks; halts TERN-601 GLP-1 obesity program

## Summary
- TERN-701 Phase 1 CARDINAL trial: overall MMR rate 75% by 24 weeks; 69% in patients with lack of efficacy to prior TKI.
- TERN-601 Phase 2 obesity study: 4.6% placebo-adjusted weight loss, 12% discontinuation due to AEs, reversible liver enzyme elevations; development stopped.
- Cash, cash equivalents and marketable securities of $295.6M as of Sep 30, 2025, expected to fund operations into 2028.
- Q3 2025 net loss $24.6M vs $21.9M in Q3 2024; R&D expense rose to $19.9M from $15.2M.
- Seeking strategic partners for TERN-501 (THR-β agonist) and TERN-801 (GIPR antagonist) metabolic programs.

## SEC filing metadata
- accession: 0001193125-25-274282
- form_type: 8-K
- ticker: TERN
- cik: 0001831363
- company_name: Terns Pharmaceuticals, Inc.
- filed_at: 2025-11-10T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831363/000119312525274282/0001193125-25-274282-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831363/000119312525274282/tern-20251110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-274282
- JSON: https://secwatch.observer/filing/0001193125-25-274282.json
- Plain text: https://secwatch.observer/filing/0001193125-25-274282.txt

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