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Sep 30, 2023
Terns Q3 2023 Earnings Report
Terns Pharmaceuticals reported financial results and corporate updates for Q3 2023.
Key Takeaways
Terns Pharmaceuticals reported a net loss of $29.8 million for the quarter ended September 30, 2023. The company's cash, cash equivalents, and marketable securities totaled $266.6 million, expected to fund operations into 2026.
Advanced TERN-701 (BCR-ABL inhibitor) to global Phase 1 clinical trial for CML, with patient screening anticipated in December 2023.
Dosed first participant in Phase 1 clinical trial of TERN-601 (oral GLP-1) for obesity.
Reported positive top-line data from Phase 2a DUET clinical trial for TERN-501 (THR-β) in NASH patients.
Cash, cash equivalents and marketable securities of $267 million expected to provide runway into 2026.
Terns
Terns
Forward Guidance
Terns Pharmaceuticals anticipates a data-rich 2024, with expected proof of concept readouts from clinical trials in CML and obesity.