- Terns Pharmaceuticals ( NASDAQ: TERN ) has commenced a proposed underwritten public offering of $75M of shares of its common stock.
- In addition, the company expects to grant the underwriters a 30-day option to purchase additional shares.
- Actual size and terms of the offering are not yet finalised.
- Net proceeds from the proposed offering to advance its clinical-stage development pipeline, including the TERN-501, TERN-701 and TERN-601 clinical programs and for working capital and general corporate purposes.
- The stock dipped 14% post market close.
For further details see:
Terns Pharmaceuticals dips 14% on public offering