Terns Pharma reports Q2 net loss
Overview
Terns Q2 net income, income from operations beat analyst expectations
Company advancing TERN-701 in CML, TERN-601 in obesity trials
Cash runway into 2028, focusing on oncology, seeking metabolic partners
Outlook
Terns expects Phase 1 CARDINAL trial data in Q4 2025
Company plans no further investment in metabolic disease beyond 2025
Terns anticipates Phase 2 FALCON trial results early Q4 2025
Company has cash runway into 2028, focusing on CML program
Result Drivers
CML PROGRAM - Rapid enrollment in TERN-701 Phase 1 trial for CML with dose expansion initiated due to favorable safety and efficacy data
OBESITY TRIAL - Completed enrollment for Phase 2 trial of TERN-601 for obesity; data expected early 4Q25
FOCUS SHIFT - Company to focus on advancing TERN-701 for CML and seek partners for metabolic assets
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income | Beat | -$24.09 mln | -$26.60 mln (5 Analysts) |
Q2 Income from Operations | Beat | -$27.38 mln | -$29.10 mln (6 Analysts) |
Q2 Pretax Profit | Beat | -$24.03 mln | -$26.60 mln (5 Analysts) |
Q2 Basic EPS |
| -$0.26 |
|
Q2 Operating Expenses |
| $27.38 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Terns Pharmaceuticals Inc is $17.00, about 66.2% above its August 4 closing price of $5.75
Press Release: ID:nGNX3tqNx5
