{"id":828247,"date":"2025-03-20T16:09:58","date_gmt":"2025-03-20T20:09:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates\/"},"modified":"2025-03-20T16:09:58","modified_gmt":"2025-03-20T20:09:58","slug":"terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates\/","title":{"rendered":"Terns Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results and Corporate Updates"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>Dose expansion in Phase 1 CARDINAL trial of TERN-701 for chronic myeloid leukemia (CML) expected to initiate in 2Q25 with additional safety and efficacy data in 4Q25<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>First patient enrolled in Phase 2 FALCON trial of TERN-601 for obesity with 12-week data expected 4Q25<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>Cash, cash equivalents and marketable securities of $358<\/em><br \/>\n        <em>million, expected to provide runway into 2028<\/em>\n      <\/p>\n<p>FOSTER CITY, Calif., March  20, 2025  (GLOBE NEWSWIRE) &#8212; Terns Pharmaceuticals, Inc. (\u201cTerns\u201d or the \u201cCompany\u201d) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity, today reported financial results for the fourth quarter and full year ended December 31, 2024, and provided corporate updates.<\/p>\n<p>\u201c2024 was a year of significant clinical progress across our lead pipeline programs that was highlighted by two compelling data readouts, which underscore the best-in-class potential of both TERN-701 in CML and TERN-601 in obesity,\u201d said Amy Burroughs, chief executive officer of Terns. \u201cWe look forward to building on this positive momentum in 2025, as we prepare to initiate the dose expansion portion of the TERN-701 CARDINAL trial in the second quarter of 2025, with additional data expected in the fourth quarter of 2025. Additionally, we are pleased to announce that the first patient has been enrolled in the FALCON trial of TERN-601, with 12-week data also expected in the fourth quarter. We continue to operate from a position of strength and remain well-funded through significant, near-term clinical data readouts.\u201d<\/p>\n<p>\n        <strong>Recent Pipeline Developments and Anticipated Milestones<\/strong>\n      <\/p>\n<p>\n        <u>TERN-701: Oral, allosteric BCR-ABL tyrosine kinase inhibitor (TKI) for chronic myeloid leukemia (CML)<\/u>\n      <\/p>\n<ul type=\"disc\">\n<li>Dose escalation in Phase 1 CARDINAL study completed in January 2025<\/li>\n<li>Terns previously announced positive interim data from the Phase 1 CARDINAL trial of TERN-701, demonstrating:\n<ul>\n<li>Compelling molecular responses starting at the lowest dose in heavily pre-treated CML patients with high baseline BCR-ABL transcript levels<\/li>\n<li>Encouraging safety profile with no dose limiting toxicities, adverse event-related treatment discontinuations or dose reductions across all dose escalation cohorts<\/li>\n<\/ul>\n<\/li>\n<li>Positive data on drug-drug interactions (DDI) from the ongoing healthy volunteer study demonstrate that TERN-701 is not a clinically relevant inhibitor of CYP3A4 or OATP1B1\/3\n<ul>\n<li>Results support dosing of TERN-701 with common concomitant medications and represent a key safety differentiation within the allosteric TKI class<\/li>\n<li>Terns expects to publish DDI data at a future scientific conference<\/li>\n<\/ul>\n<\/li>\n<li>The dose expansion portion of the Phase 1 CARDINAL study is expected to initiate in the second quarter of 2025 with additional safety and efficacy data expected in the fourth quarter of 2025\n<ul>\n<li>Data expected to include a larger cohort of patients with longer durations of treatment and read through to approval endpoint of 6-month major molecular response (MMR)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n        <u>TERN-601: Oral, small-molecule glucagon-like peptide-1 (GLP-1) receptor agonist for obesity<\/u>\n      <\/p>\n<ul type=\"disc\">\n<li>The FALCON Phase 2 clinical trial enrolled its first patient in March 2025, with 12-week data expected in the fourth quarter of 2025\n<ul type=\"circle\">\n<li>U.S.-based, multicenter, randomized, double-blind, placebo-controlled trial to evaluate the efficacy and safety of TERN-601<\/li>\n<li>Once-daily dosing without regard to food in adults with overweight or obesity, without diabetes (BMI ranges from \u226530 to &lt;50 kg\/m<sup>2<\/sup>\u00a0or \u226527 to &lt;30 kg\/m<sup>2<\/sup>\u00a0with at least one weight-related comorbidity)<\/li>\n<li>Patients randomized to one of four active cohorts (n=30 per cohort): 250 mg, 500 mg, 500 mg slow titration, 750 mg or placebo<\/li>\n<li>Primary endpoint is percent change from baseline in body weight compared to placebo over 12 weeks<\/li>\n<li>Secondary endpoints include safety, tolerability and proportion of patients achieving 5% weight loss or greater<\/li>\n<\/ul>\n<\/li>\n<li>Doses and titration schema for Phase 2 were selected based on positive results from the Phase 1 trial,\u00a0<a href=\"https:\/\/ir.ternspharma.com\/news-releases\/news-release-details\/terns-pharmaceuticals-announces-positive-phase-1-clinical-trial\" rel=\"nofollow\" target=\"_blank\">announced in September 2024<\/a>, which demonstrated weight loss over 28-days up to 5.5% and favorable safety and tolerability despite rapid dose titration every three days\n<ul type=\"circle\">\n<li>Phase 2 titration will range between two to four weeks at each intermediate dose before achieving the target dose<\/li>\n<li>Titration design features the fewest steps and lowest fold change to target dose amongst leading oral, small-molecule GLP-1R agonists in a 12-week study<\/li>\n<li>Slower titration aims to achieve competitive 12-week weight loss, best-in-class tolerability and simplest titration amongst the oral,\u00a0small-molecule class<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\n        <u>TERN-501: Oral, thyroid hormone receptor-beta (THR-\u03b2) agonist <\/u>\n      <\/p>\n<ul type=\"disc\">\n<li>Terns continues to evaluate opportunities for TERN-501 in metabolic diseases<\/li>\n<li>Based on non-clinical studies, THR-\u03b2 is a complementary mechanism to GLP-1, potentially providing broader metabolic and liver benefits in addition to increased weight loss<\/li>\n<\/ul>\n<p>\n        <u>TERN-800 Series: Oral, small-molecule glucose-dependent insulinotropic polypeptide receptor (GIPR) modulators <\/u>\n      <\/p>\n<ul type=\"disc\">\n<li>Discovery efforts are ongoing for small molecule GIPR modulators for obesity, which have the potential for combination with GLP-1 receptor agonists, such as TERN-601<\/li>\n<li>Terns is prioritizing its discovery efforts on nominating a GIPR antagonist development candidate based on in-house discoveries and growing scientific rationale supporting the potential of GLP-1 agonist\/GIPR antagonist combinations for obesity<\/li>\n<\/ul>\n<p>\n        <strong>Corporate Updates<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>In February 2025, Terns <a href=\"https:\/\/ir.ternspharma.com\/news-releases\/news-release-details\/terns-pharmaceuticals-appoints-andrew-gengos-chief-financial\" rel=\"nofollow\" target=\"_blank\">appointed Andrew Gengos<\/a>, a seasoned public company CFO with 25 years of leadership experience in the biotechnology industry, as chief financial officer of Terns<\/li>\n<li>In February 2025, Terns <a href=\"https:\/\/ir.ternspharma.com\/news-releases\/news-release-details\/terns-pharmaceuticals-appoints-robert-azelby-board-directors\" rel=\"nofollow\" target=\"_blank\">appointed Robert Azelby<\/a>, an experienced biotechnology CEO with more than 25 years of strategic, operational and commercial expertise, to its board of directors<\/li>\n<li>In November 2024, Terns <a href=\"https:\/\/ir.ternspharma.com\/news-releases\/news-release-details\/terns-pharmaceuticals-appoints-heather-turner-jd-board-directors\" rel=\"nofollow\" target=\"_blank\">appointed Heather Turner<\/a>, former CEO of Carmot Therapeutics, Inc., to its board of directors<\/li>\n<\/ul>\n<p>\n        <strong>Fourth Quarter and Full Year 2024 Financial Results<\/strong>\n      <\/p>\n<p>\n        <strong>Cash Position:<\/strong> As of December 31, 2024, cash, cash equivalents and marketable securities were $358.2 million, as compared with $263.4 million as of December 31, 2023. Based on its current operating plan, Terns expects these funds will be sufficient to support its planned operating expenses into 2028.<\/p>\n<p>\n        <strong>Research and Development (R&amp;D) Expenses:<\/strong> R&amp;D expenses were $18.0 million and $70.1 million for the quarter and year ended December 31, 2024, respectively, as compared with $17.5 million and $63.5 million for the quarter and year ended December 31, 2023, respectively.<\/p>\n<p>\n        <strong>General and Administrative (G&amp;A) Expenses:<\/strong> G&amp;A expenses were $7.9 million and $31.8 million for the quarter and year ended December 31, 2024, respectively, as compared with $6.6 million and $39.1 million for the quarter and year ended December 31, 2023, respectively.<\/p>\n<p>\n        <strong>Net Loss:<\/strong> Net loss was $21.8 million and $88.9 million for the quarter and year ended December 31, 2024, respectively, as compared with $21.0 million and $90.2 million for the quarter and year ended December 31, 2023, respectively.<\/p>\n<p>\n        <strong>Financial Tables <\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"16\" style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Terns Pharmaceuticals, Inc.<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"16\" style=\"vertical-align: bottom\">\n            <strong>Consolidated Statements of Operations<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"16\" style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>(Unaudited; in thousands except share and per share amounts)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Quarter Ended<\/strong><br \/>\n            <br \/>\n            <strong> December 31,<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Year Ended<\/strong><br \/>\n            <br \/>\n            <strong> December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2023<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2023<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Operating expenses:<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:45%;width:45%;min-width:45%;vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Research and development<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;vertical-align: bottom\">18,004<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;vertical-align: bottom\">17,459<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;vertical-align: bottom\">70,112<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;vertical-align: bottom\">63,497<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">General and administrative<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">7,945<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">6,599<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">31,759<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">39,061<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total operating expenses<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">25,949<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">24,058<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">101,871<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">102,558<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Loss from operations<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(25,949<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(24,058<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(101,871<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(102,558<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Interest income<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">4,143<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">3,333<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">13,289<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">12,901<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Other income (expense), net<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">47<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(245<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(11<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(314<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Loss before income taxes<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(21,759<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(20,970<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(88,593<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(89,971<\/td>\n<td style=\"border-top: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">Income tax expense<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(40<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(49<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(260<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(239<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net loss<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td colspan=\"1\" style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(21,799<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td colspan=\"1\" style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(21,019<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td colspan=\"1\" style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(88,853<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td colspan=\"1\" style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(90,210<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net loss per share, basic and diluted<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td colspan=\"1\" style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.24<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td colspan=\"1\" style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.29<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td colspan=\"1\" style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(1.12<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td colspan=\"1\" style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(1.27<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Weighted average common stock outstanding, basic and diluted<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">91,240,700<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">72,333,196<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">79,507,474<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">71,259,239<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"8\" style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Terns Pharmaceuticals, Inc.<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" style=\"vertical-align: bottom\">\n            <strong>Selected Balance Sheet Data<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>(Unaudited; in thousands)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>December\u00a031, 2024<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>December 31, 2023<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:73%;width:73%;min-width:73%;vertical-align: bottom\">Cash, cash equivalents and marketable securities<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;vertical-align: bottom\">358,164<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;vertical-align: bottom\">263,440<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Total assets<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">363,929<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;text-align: center;vertical-align: middle;vertical-align: bottom\">268,517<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total liabilities<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">18,059<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;text-align: center;vertical-align: middle;vertical-align: bottom\">13,150<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total stockholders\u2019 equity<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">345,870<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;text-align: center;vertical-align: middle;vertical-align: bottom\">255,367<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>About Terns Pharmaceuticals<\/strong><br \/>\n        <br \/>Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity. Terns\u2019 pipeline contains three clinical stage development programs including an allosteric BCR-ABL inhibitor, a small-molecule GLP-1 receptor agonist, a THR-\u03b2 agonist, and a preclinical GIPR modulator discovery effort, prioritizing a GIPR antagonist nomination candidate.\u00a0For more information, please visit:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=kG0zVM2TZPudIDRHGPFRPDhBhtlRGiLMZarVGlKhV_sReQU6Qt3Dv9QfcCVtAQo6ug5efKJ-kHW9LV5ii9PULHWjcfaiDYEkOfYyg0RVDoQ=\" rel=\"nofollow\" target=\"_blank\">www.ternspharma.com<\/a>.<\/p>\n<p>\n        <strong>Cautionary Note Regarding Forward-Looking Statements<\/strong><br \/>\n        <br \/>This press release contains forward-looking statements about the Company within the meaning of the federal securities laws, including those related to expectations, timing and potential results of the clinical trials and other development activities of the Company and its partners; the potential indications to be targeted by the Company with its small-molecule product candidates; the therapeutic potential of the Company\u2019s small-molecule product candidates; the potential for the mechanisms of action of the Company\u2019s product candidates to be therapeutic targets for their targeted indications; the potential utility and progress of the Company\u2019s product candidates in their targeted indications, including the clinical utility of the data from and the endpoints used in the Company\u2019s clinical trials; the Company\u2019s clinical development plans and activities, including the results of any interactions with regulatory authorities on its programs; the Company\u2019s expectations regarding the profile of its product candidates, including efficacy, tolerability, safety, metabolic stability and pharmacokinetic profile and potential differentiation as compared to other products or product candidates; the Company\u2019s plans for and ability to continue to execute on its current development strategy, including potential combinations involving multiple product candidates; the potential commercialization of the Company\u2019s product candidates; the Company\u2019s plans and expectations around the addition of key personnel; and the Company\u2019s expectations with regard to its cash runway and sufficiency of its cash resources. All statements other than statements of historical facts contained in this press release, including statements regarding the Company\u2019s strategy, future financial condition, future operations, future trial results, projected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as \u201caim,\u201d \u201canticipate,\u201d \u201cassume,\u201d \u201cbelieve,\u201d \u201ccontemplate,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cdesign,\u201d \u201cdue,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cgoal,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cobjective,\u201d \u201cplan,\u201d \u201cpositioned,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cseek,\u201d \u201cshould,\u201d \u201ctarget,\u201d \u201cwill,\u201d \u201cwould\u201d and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. The Company has based these forward-looking statements largely on its current expectations, estimates, forecasts and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events. These statements are subject to risks and uncertainties that could cause the actual results and the implementation of the Company\u2019s plans to vary materially, including the risks associated with the initiation, cost, timing, progress, results and utility of the Company\u2019s current and future research and development activities and preclinical studies and clinical trials. These risks are not exhaustive. For a detailed discussion of the risk factors that could affect the Company\u2019s actual results, please refer to the risk factors identified in the Company\u2019s SEC reports, including but not limited to its Annual Report on Form 10-K for the year ended December 31, 2024. Except as required by law, the Company undertakes no obligation to update publicly any forward-looking statements for any reason.<\/p>\n<p>\n        <strong>Contacts for Terns<\/strong>\n      <\/p>\n<p>\n        <strong>Investors<\/strong><br \/>\n        <br \/>Justin Ng<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=68-FEW_jYQriq9c1wzKCXKnkfjK8f9tNx9o6OIxzdSj77eUa24S1kPjjc55cbSDjIS5DbfL7l3x1mDDtT_Q4o5byHSZnABC_Msu_61LJeGPFfYj14kg-gMgxccVHqro_\" rel=\"nofollow\" target=\"_blank\">investors@ternspharma.com<\/a><\/p>\n<p>\n        <strong>Media<\/strong><br \/>\n        <br \/>Jenna Urban<br \/>CG Life<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mIErd7Q27FZf9bg0zFL16cc-vyuYHjjI16yFJToPUb5gEcAzgRlgo40Meo-fvfHFk6uf7ThH9QkNNiYI8x-hmmdTvl9sY0ArPQjsd7qs02o=\" rel=\"nofollow\" target=\"_blank\">media@ternspharma.com<\/a><\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM5ODI2OSM2ODE2NjA3IzIyMDQxNjM=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/MjE4NjQ3NmYtZjk0Yy00MGY5LWJiYjktMTUzY2MyNzJhZjU2LTEyMTU3MTYtMjAyNS0wMy0yMC1lbg==\/tiny\/Terns-Pharmaceuticals-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dose expansion in Phase 1 CARDINAL trial of TERN-701 for chronic myeloid leukemia (CML) expected to initiate in 2Q25 with additional safety and efficacy data in 4Q25 First patient enrolled in Phase 2 FALCON trial of TERN-601 for obesity with 12-week data expected 4Q25 Cash, cash equivalents and marketable securities of $358 million, expected to provide runway into 2028 FOSTER CITY, Calif., March 20, 2025 (GLOBE NEWSWIRE) &#8212; Terns Pharmaceuticals, Inc. (\u201cTerns\u201d or the \u201cCompany\u201d) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity, today reported financial results for the fourth quarter and full year ended December 31, 2024, and provided corporate updates. \u201c2024 was a year of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Terns Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results and Corporate Updates&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-828247","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Terns Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results and Corporate Updates - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terns Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results and Corporate Updates - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Dose expansion in Phase 1 CARDINAL trial of TERN-701 for chronic myeloid leukemia (CML) expected to initiate in 2Q25 with additional safety and efficacy data in 4Q25 First patient enrolled in Phase 2 FALCON trial of TERN-601 for obesity with 12-week data expected 4Q25 Cash, cash equivalents and marketable securities of $358 million, expected to provide runway into 2028 FOSTER CITY, Calif., March 20, 2025 (GLOBE NEWSWIRE) &#8212; Terns Pharmaceuticals, Inc. (\u201cTerns\u201d or the \u201cCompany\u201d) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity, today reported financial results for the fourth quarter and full year ended December 31, 2024, and provided corporate updates. \u201c2024 was a year of &hellip; Continue reading &quot;Terns Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results and Corporate Updates&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-20T20:09:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM5ODI2OSM2ODE2NjA3IzIyMDQxNjM=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Terns Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results and Corporate Updates\",\"datePublished\":\"2025-03-20T20:09:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates\\\/\"},\"wordCount\":1694,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTM5ODI2OSM2ODE2NjA3IzIyMDQxNjM=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/terns-pharmaceuticals-reports-fourth-quarter-and-full-year-2024-financial-results-and-corporate-updates\\\/\",\"name\":\"Terns Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results and Corporate Updates - 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