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Terns Pharmaceuticals

Biotech & Life Sciences · Foster City, United States · Founded 2017 · IPO 2021

Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing a portfolio of small-molecule drug candidates for serious diseases like oncology and obesity. The company was established in 2017 by co-founders Weidong Zhong, Martijn Fenaux, and Randall L. Halcomb. Dr. Zhong, an industry veteran with over two decades of experience in drug discovery at companies like Novartis and Gilead, sought to create a more nimble organization to develop innovative medicines, particularly for underserved markets. The company initially aimed to bridge drug discovery in the U.S. with accelerated clinical development in China but has since shifted its focus primarily to the U.S. market. Headquartered in Foster City, California, Terns went public on the Nasdaq Global Select Market under the ticker symbol "TERN" on February 5, 2021, raising approximately $127.5 million in its initial public offering. The company operates as a clinical-stage entity, meaning its revenue generation model is based on the potential future commercialization of its drug candidates currently undergoing clinical trials. Its financial strategy involves securing funding through public offerings and strategic partnerships to support its extensive research and development activities. As of early 2025, Terns reported having a cash runway to fund its operations into 2028. Terns' therapeutic pipeline includes several clinical-stage programs. A lead candidate is TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor for the treatment of chronic myeloid leukemia (CML), a type of bone marrow cancer. This oral drug candidate has received Orphan Drug Designation from the U.S. FDA and has shown promising molecular responses and a favorable safety profile in early trials. Another key program is TERN-601, a once-daily oral GLP-1 receptor agonist being developed for obesity. Phase 1 results for TERN-601 demonstrated weight loss and good tolerability. The pipeline also features TERN-501, a thyroid hormone receptor-beta (THR-β) agonist, being explored for metabolic diseases. The company's business model centers on advancing these candidates through the rigorous phases of clinical trials to gain regulatory approval and eventually bring new treatments to patients. Keywords: Terns Pharmaceuticals, clinical-stage biopharmaceutical, small-molecule therapies, oncology, obesity, chronic myeloid leukemia (CML), TERN-701, TERN-601, GLP-1 receptor agonist, BCR-ABL inhibitor, non-alcoholic steatohepatitis (NASH), Weidong Zhong, Martijn Fenaux, Foster City, NASDAQ: TERN, clinical trials, drug development, metabolic diseases, TERN-501, THR-β agonist, oral therapies, cancer treatment, weight loss drug, liver disease, pharmaceutical research, biotech, drug discovery, allosteric inhibitor, Phase 2 trial, Phase 1 trial