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Jun 30, 2022
Terns Q2 2022 Earnings Report
Terns Pharmaceuticals reported financial results for the second quarter ended June 30, 2022.
Key Takeaways
Terns Pharmaceuticals reported a net loss of $13.9 million for the second quarter ended June 30, 2022. As of June 30, 2022, cash, cash equivalents and marketable securities were $139.8 million.
TERN-701 (allosteric BCR-ABL inhibitor) advances into Phase 1 trial for CML in China
IND-enabling activities for TERN-601 (GLP-1R agonist) remain on track; Phase 1 obesity trial initiation expected in 2023
Initiated dosing of TERN-501 (THR-β agonist) Phase 2a DUET combo clinical trial for NASH; top-line data expected in second half of 2023
Cash and equivalents of $140 million provides runway into 2025, supporting three expected clinical trial readouts across three product candidates and three indications