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Dec 31, 2020
Terns Q4 2020 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2020, and provided a corporate update.
Key Takeaways
Terns Pharmaceuticals reported its Q4 and full-year 2020 financial results, highlighting a cash position of $74.9 million and the completion of an upsized initial public offering in February 2021, which raised approximately $147 million. The company anticipates data readouts for its clinical programs and the initiation of a combination clinical trial of TERN-101 and TERN-501.
Ended 4Q 2020 with $75 million in cash and cash equivalents.
Completed an upsized initial public offering in February 2021, raising approximately $147 million in gross proceeds.
Top-line data from the ongoing Phase 2a LIFT study of TERN-101 expected in July 2021.
Data from the recently initiated Phase 1 trial of TERN-501 expected in 2H 2021.