FDA grants Breakthrough Therapy Designation to TERN-701; Merck acquisition mentioned in press release

Terns Pharmaceuticals, Inc.

FDA Breakthrough Therapy Designation for TERN-701 in Ph+ CML-CP patients without T315I mutation, previously treated with 2+ TKIs.
Designation based on CARDINAL Phase 1/2 data: encouraging major molecular response and deep molecular response rates at week 24.
TERN-701 safety profile: majority of adverse events low grade; low severe adverse events and discontinuations.
Press release also notes recent agreement for Merck to acquire Terns (Nasdaq: TERN).
CEO Amy Burroughs cites BTD and Merck deal as potential acceleration to pivotal trial and patients.

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