Terns Pharmaceuticals’ Q4 2024 Financial Results and Business Updates
Terns Pharmaceuticals, a clinical-stage biopharmaceutical company, recently announced its financial results for the fourth quarter and full year ended December 31, 2024. The company is focused on developing a portfolio of small-molecule product candidates to address serious diseases, specifically in the areas of oncology and obesity.
Dose Expansion in Phase 1 CARDINAL Trial of TERN-701 for Chronic Myeloid Leukemia (CML)
Terns anticipates initiating dose expansion in the Phase 1 CARDINAL trial of TERN-701 for chronic myeloid leukemia (CML) in the second quarter of 2025. This trial is designed to evaluate the safety, tolerability, and pharmacokinetics of TERN-701 in patients with Philadelphia chromosome-positive (Ph+) CML. Additional safety and efficacy data from this trial are expected to be available in the fourth quarter of 2025.
Phase 2 FALCON Trial of TERN-601 for Obesity
The first patient has been enrolled in the Phase 2 FALCON trial of TERN-601 for obesity. TERN-601 is a small molecule that acts as a selective agonist of the melanocortin-4 receptor. The trial is designed to evaluate the safety, tolerability, and efficacy of TERN-601 in obese and overweight patients with type 2 diabetes mellitus and/or dyslipidemia. Twelve-week data from this trial is expected to be available in the fourth quarter of 2025.
Financial Highlights
As of December 31, 2024, Terns had cash, cash equivalents, and marketable securities of $358 million. This cash position is expected to provide runway into 2028, based on the company’s current operating plan.
Impact on Individuals
For individuals living with chronic myeloid leukemia (CML), the initiation of dose expansion in the Phase 1 CARDINAL trial of TERN-701 could bring new treatment options and potentially improved outcomes. Similarly, for those struggling with obesity and associated conditions such as type 2 diabetes mellitus and dyslipidemia, the results of the Phase 2 FALCON trial of TERN-601 could lead to a new, effective treatment for managing weight and related health issues.
Impact on the World
The progress being made by Terns Pharmaceuticals in the development of TERN-701 for CML and TERN-601 for obesity has the potential to significantly impact the lives of millions of people worldwide. CML affects an estimated 150,000 people in the United States and 140,000 people in Europe. Obesity is a global health problem, with approximately 1.9 billion adults considered overweight or obese.
Conclusion
Terns Pharmaceuticals’ ongoing clinical trials and financial position demonstrate the company’s commitment to addressing serious diseases in the areas of oncology and obesity. The initiation of dose expansion in the Phase 1 CARDINAL trial of TERN-701 for CML and the enrollment of the first patient in the Phase 2 FALCON trial of TERN-601 for obesity are significant milestones in the development of these potential treatments. With a cash position of $358 million, Terns is well-positioned to continue its research and development efforts, bringing new hope to those affected by these conditions.
- Terns Pharmaceuticals reports financial results for Q4 2024 and provides business updates.
- Dose expansion in Phase 1 CARDINAL trial of TERN-701 for CML expected in 2Q25 with additional data in 4Q25.
- First patient enrolled in Phase 2 FALCON trial of TERN-601 for obesity with 12-week data expected 4Q25.
- Company had $358 million in cash, cash equivalents, and marketable securities as of December 31, 2024.
- Progress in TERN-701 and TERN-601 development could significantly impact individuals and the world.
