secwatch.observer — SEC 8-K summary
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Issuer:     Terns Pharmaceuticals, Inc. (TERN)
CIK:        0001831363
Form:       8-K
Filed at:   2026-01-22T23:59:59+00:00
Accession:  0001193125-26-019426
Event type: other_material
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Terns Pharma secures exclusive worldwide license for TERN-701 from Hansoh; $1M upfront
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- Amendment grants Terns exclusive, perpetual, worldwide (excl. Hansoh territory) license to Hansoh patents for TERN-701.
- Terns pays $1.0M upfront fee plus tiered royalties of 0.75%-1.25% on net sales covered by licensed patents.
- License covers TERN-701 as sole active ingredient; replaces prior non-exclusive, non-sublicensable license.
- Hansoh territory remains mainland China, Taiwan, Hong Kong, and Macau.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831363/000119312526019426/0001193125-26-019426-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831363/000119312526019426/d10827d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-019426

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