Overview

* Terns reports Q3 net loss of $24.6 mln, less than analysts' expectations

* Company highlights promising Phase 1 CARDINAL trial results for TERN-701 in CML

* Terns shifts focus to oncology, seeks partners for metabolic programs

Outlook

* Company expects cash reserves to support operations into 2028

* Terns to present expanded CARDINAL trial data at ASH meeting in December 2025

* Company seeks strategic partners for TERN-501 and TERN-801 programs

Result Drivers

* STRATEGIC FOCUS - Terns shifts focus to oncology, seeks partners for metabolic programs

* EXPENSES:

R&D expenses rose to $19.9 mln from $15.2 mln last year, while G&A expenses fell to $7.8 mln from $9.8 mln.

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net Beat -$24.64 -$27.35

Income mln mln (8

Analysts

)

Q3 Beat -$27.72 -$29.88

Income mln mln (9

from Analysts

Operatio )

ns

Q3 Beat -$24.59 -$27.34

Pretax mln mln (8

Profit Analysts

)

Q3 Basic -$0.27

EPS

Q3 $27.72

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Terns Pharmaceuticals Inc ( TERN ) is $25.00, about 26.1% above its November 7 closing price of $18.47

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)