secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2025-11-10T23:59:59+00:00
Accession:  0001193125-25-274282
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000119312525274282/0001193125-25-274282-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000119312525274282/tern-20251110.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-274282

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