Terns Pharmaceuticals Announces Equity Inducement Award to New CFO, Andrew Gengos
Foster City, CA, February 26, 2025 – Terns Pharmaceuticals, Inc. (Nasdaq: TERN), a clinical-stage biopharmaceutical company specializing in the development of small-molecule product candidates for serious diseases such as oncology and obesity, recently announced the granting of an equity inducement award to its new Chief Financial Officer (CFO), Andrew Gengos. The award was made under the terms of the 2022 Employment Inducement Award Plan, which was approved by the Compensation Committee of Terns’ Board of Directors and the Board of Directors themselves.
Details of the Equity Award
The equity award was granted on February 24, 2025, as a material inducement to Mr. Gengos’ acceptance of employment with Terns. The granting of this award was made in accordance with Nasdaq Listing Rule 5635(c)(4). The specific terms of the award have not been disclosed to the public.
Impact on Terns Pharmaceuticals
This equity award marks an important milestone for Terns Pharmaceuticals as they continue to expand their leadership team. The addition of Andrew Gengos as CFO brings a wealth of experience in financial management and strategic planning to the company. With his expertise, Terns hopes to strengthen its financial position and advance its pipeline of potential treatments for serious diseases.
Impact on Individuals and the World
Although the specific impact on individuals and the world at large is difficult to determine from this announcement alone, the development of new treatments for serious diseases like oncology and obesity holds significant potential for improving the lives of millions of people. Terns Pharmaceuticals’ continued progress in this area could lead to new and effective therapies, ultimately contributing to better health outcomes and a higher quality of life for those affected by these conditions.
Conclusion
Terns Pharmaceuticals’ recent announcement of the equity inducement award granted to its new CFO, Andrew Gengos, signifies an important step forward for the company. With his financial expertise, Terns aims to solidify its financial foundation and further its research and development efforts in the fields of oncology and obesity. The potential impact on individuals and the world is significant, as the discovery of new treatments for serious diseases could lead to improved health outcomes and a better quality of life for countless people.
- Terns Pharmaceuticals grants equity award to new CFO, Andrew Gengos
- Award made under the 2022 Employment Inducement Award Plan
- Induces acceptance of employment with Terns
- Significant addition to the company’s leadership team
- Potential for advancements in treatments for oncology and obesity
