NASDAQ$TERN
Terns Pharmaceuticals Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Terns reported financial results for the first quarter ended March 31, 2024, and provided corporate updates.
Terns Pharmaceuticals reported a net loss of $22.4 million for the first quarter of 2024. The company's cash, cash equivalents, and marketable securities totaled $240.7 million as of March 31, 2024, expected to provide runway into 2026. Key milestones include ongoing Phase 1 trials for TERN-701 and TERN-601 with data readouts expected in the second half of 2024.
- Cash, cash equivalents and marketable securities of $240.7 million, expected to provide runway into 2026.
- Interim data from initial dose escalation cohorts from Phase 1 CARDINAL trial of TERN-701 (allosteric BCR-ABL) in CML expected in 2H24.
- Top-line data from Phase 1 trial of TERN-601 (oral GLP-1) for obesity expected in 2H24.
- Phase 1 study of TERN-701 in healthy volunteers, showed lack of food effect and supports once-daily dosing.
Headline financials
Revenue & EPS history
Terns · Revenue · Quarterly
$0
Forward guidance
Terns anticipates key data readouts from its two lead programs, TERN-701 and TERN-601, in the second half of 2024. The company expects its current cash resources to be sufficient to support planned operating expenses into 2026.
Tailwinds
- Interim data from the Phase 1 CARDINAL trial of TERN-701 in CML is expected in the second half of 2024.
- Top-line data from the Phase 1 trial of TERN-601 for obesity is expected in the second half of 2024.
- TERN-701 can be administered once-daily (QD) with or without food at doses that achieve clinically efficacious exposures.
- Terns plans to host a TERN-701-focused virtual key opinion leader (KOL) event in mid-2024.
- Terns expects these funds will be sufficient to support its planned operating expenses into 2026.
Headwinds
- Clinical trials are subject to risks associated with initiation, cost, timing, progress, results and utility.
- The company's actual results could be affected by risks identified in the company’s SEC reports.
- TERN-501 opportunities for TERN-501 in metabolic diseases are still being evaluated.
- Discovery efforts are ongoing for small molecule GIPR modulators for obesity.
- Departure of Erin Quirk, M.D., president, head of research and development.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-0.3%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+16.4%
Avg return
30 days after
48%
10 / 21 earnings
Positive
+19.8%
Q4 2022
Best reaction
-23.0%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -1.3% | -0.0% | — | |
| Q3 2025 | +7.6% | +18.0% | +146.3% | |
| Q2 2025 | -6.8% | +3.6% | +18.7% | |
| Q1 2025 | -0.7% | -4.1% | +22.3% | |
| Q4 2024 | -2.7% | -1.3% | -23.6% | |
| Q3 2024 | -9.1% | -17.3% | -11.7% | |
| Q2 2024 | -4.6% | -11.8% | -1.7% | |
| Q1 2024 | +7.7% | +6.1% | +32.9% | |
| Q4 2023 | +1.7% | -15.0% | -27.4% | |
| Q3 2023 | +14.2% | +10.1% | +92.3% | |
| Q2 2023 | -9.5% | +0.8% | -21.5% | |
| Q1 2023 | -15.2% | -20.3% | -7.0% | |
| Q4 2022 | +19.8% | +32.7% | +42.3% | |
| Q3 2022 | -23.0% | -26.7% | -12.2% | |
| Q2 2022 | -5.5% | +39.2% | +75.1% | |
| Q1 2022 | +4.0% | -0.7% | +26.5% | |
| Q4 2021 | +4.1% | +3.5% | -5.4% | |
| Q3 2021 | -1.2% | -5.9% | -30.9% | |
| Q2 2021 | +4.3% | +3.5% | -0.9% | |
| Q1 2021 | +3.6% | +5.6% | +13.5% | |
| Q4 2020 | +5.8% | -0.9% | +1.2% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro