NASDAQ$TERN
Terns Pharmaceuticals Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported financial results and provided corporate updates.
Terns Pharmaceuticals reported its Q3 2024 financial results, highlighting positive topline results from the Phase 1 study of TERN-601 and a successful equity raise of $172.7 million that extends the company's cash runway into 2028. The company's cash, cash equivalents, and marketable securities totaled $372.8 million as of September 30, 2024.
- TERN-601 demonstrated class-leading potential as a differentiated, once-daily, oral GLP-1R agonist for obesity.
- Interim data from the Phase 1 CARDINAL trial of TERN-701 is expected in early December 2024.
- A Phase 2 clinical trial for TERN-601 in obesity is planned for early 2Q25, with initial 12-week data expected in 2H25.
- Cash, cash equivalents, and marketable securities totaled $372.8 million, expected to provide runway into 2028.
Headline financials
Revenue & EPS history
Terns · Revenue · Quarterly
$0
Forward guidance
Terns Pharmaceuticals anticipates several milestones across its clinical development programs, supported by a strong cash position.
Tailwinds
- Interim data from initial dose escalation cohorts of Phase 1 CARDINAL trial evaluating TERN-701 in chronic myeloid leukemia (CML) expected in early December 2024
- Plans to initiate Phase 2 clinical trial for TERN-601 in obesity in early 2Q25 with initial 12-week data expected in 2H25
- TERN-601 was well tolerated and demonstrated dose-dependent, statistically significant mean weight loss up to 5.5% (4.9% placebo adjusted) over 28 days
- TERN-601 was well-tolerated with no treatment-related dose interruptions, reductions, or discontinuations even with rapid dose titration
- TERN-501 in combination with semaglutide significantly enhanced weight loss and showed proportionally greater loss of fat mass relative to lean mass compared to semaglutide alone
Headwinds
- The company is currently experiencing net losses.
- The company's research and development expenses remain high.
- The company's general and administrative expenses remain high.
- The company is still in the clinical stage and has no approved products.
- The company's future success depends on the successful development and commercialization of its product candidates.
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 Q3 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