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Mar 31, 2022
Terns Q1 2022 Earnings Report
Reported financial results for the first quarter ended March 31, 2022 and provided business updates.
Key Takeaways
Terns Pharmaceuticals reported its Q1 2022 financial results, highlighting the advancement of its pipeline, including the opening of the combination therapy IND for NASH and the initiation of key IND-enabling activities in the GLP-1 program for obesity, along with a clinical trial for TERN-701 in chronic myeloid leukemia by their partner in China. The company's cash runway extends into 2025, supporting key clinical trial readouts across three indications.
IND opened for NASH Phase 2a trial of TERN-501 alone and in combination with TERN-101; trial initiated with top-line data expected in second half of 2023.
TERN-601 IND-enabling studies are underway, with Phase 1 clinical trial initiation for obesity expected in 2023.
TERN-701 Phase 1 clinical trial for chronic myeloid leukemia initiated in China.
Cash and equivalents of $151 million provides runway into 2025, including three expected clinical trial readouts across three product candidates and three indications.
Forward Guidance
Terns Pharmaceuticals anticipates existing cash to be sufficient to fund operations into 2025, including three expected clinical trial readouts for three product candidates across three indications during that time period.
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