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Jun 30, 2023
Terns Q2 2023 Earnings Report
Terns reported positive top-line data from the Phase 2a DUET trial and highlighted TERN-601 program in obesity.
Key Takeaways
Terns Pharmaceuticals reported its Q2 2023 financial results, featuring positive data from the Phase 2a DUET trial of TERN-501 in NASH and updates on its TERN-701 and TERN-601 programs. The company's cash, cash equivalents, and marketable securities are expected to provide runway into 2026.
TERN-501 met all primary and secondary endpoints in Phase 2a DUET trial.
TERN-701 Phase 1 clinical trial for CML is on track to start in the second half of 2023.
TERN-601 program in obesity highlighted with Phase 1 clinical trial planned for the second half of 2023.
Cash, cash equivalents and marketable securities of $285.6 million expected to provide runway into 2026.
Forward Guidance
Terns Pharmaceuticals is focused on advancing its pipeline, with upcoming milestones including initiating Phase 1 studies for TERN-701 and TERN-601 in the second half of the year and a Phase 2b trial of TERN-501 in NASH.
Positive Outlook
- TERN-501 showed dose dependent and statistically significant reductions in liver fat content and fibro-inflammation.
- TERN-501 demonstrated a class-leading safety and tolerability profile.
- TERN-701 outperformed asciminib in certain xenograft mouse models.
- TERN-601 significantly improved glucose tolerance, suppressed food intake and slowed gastric emptying in transgenic mice.
- Cash, cash equivalents and marketable securities expected to provide runway into 2026.
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