TERN - Terns Pharmaceuticals to Highlight 2024 Priorities and Clinical Milestones at the 42nd Annual J.P. Morgan Healthcare Conference | Benzinga
Plans to advance diverse pipeline of programs in oncology and metabolic diseases
Anticipates key proof-of-concept readouts for TERN-701 (CML) and TERN-601 (obesity) in 2H24
Prioritizing capital allocation to oncology and obesity programs, cash and cash equivalents of $267M, expected to provide runway into 2026
FOSTER CITY, Calif., Jan. 04, 2024 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. ("Terns" or the "Company") (NASDAQ:TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity, today announced that management will provide an update on its pipeline and strategic priorities for 2024 during the Company's presentation at the 42nd Annual J.P. Morgan Healthcare Conference on January 10th, 2024 at 1:30pm PT.
"2023 was a highly productive year for Terns as we made significant strides towards achieving our mission to bring better, novel medicines to people living with diseases of significant unmet medical need. We are proud to have fully achieved our stated corporate objectives last year, including initiating two proof-of-concept trials in CML and obesity, reporting positive Phase 2a data for NASH, publishing supportive preclinical data in oncology, hosting educational webinars with leading KOLs in CML and obesity, and advancing important discovery efforts within obesity," said Erin Quirk, M.D., president and head of R&D of Terns. "We expect 2024 to be a compelling year for Terns as we read out early proof-of-concept data for CML and obesity in the second half of this year."
"Terns' rigorous capital allocation decisions continue to be informed and driven by emerging data and the development landscape for our programs," said Mark Vignola, Ph.D., chief financial officer of Terns. "As we move into 2024, we are prioritizing capital allocation towards our oncology and obesity programs, while limiting near-term development spend on TERN-501 in NASH. Based on the potential best-in-class efficacy and safety profile shown in the Phase 2a DUET trial, we remain encouraged by the potential of TERN-501 beyond NASH, particularly in obesity, where we believe it could have a meaningful treatment benefit in combination with other therapies. We will continue to evaluate the evolving NASH landscape, including any substantive changes to regulatory and development pathways, as we consider future opportunities for TERN-501."
Anticipated 2024 Priorities and Key Milestones
TERN-701: Oral, allosteric BCR-ABL tyrosine kinase inhibitor (TKI) for chronic myeloid leukemia (CML)
- Terns initiated the CARDINAL Phase 1 trial and screening is underway
- Trial progressing with site activations globally and study-eligible subjects being identified by investigators for potential study participation
- The CARDINAL study design leverages insights from ...