Terns Shares Soar on Promising TERN-701 CML Data Ahead of ASH Presentation

Company Overview

Terns Pharmaceuticals Inc. (NASDAQ: TERN) is a clinical-stage biopharmaceutical company headquartered in Foster City, California. Founded in 2016, Terns focuses on the internal discovery of small-molecule therapies addressing oncology and metabolic diseases. Its lead oncology candidate, TERN-701, is an allosteric BCR-ABL tyrosine kinase inhibitor currently in Phase 1 development for chronic myeloid leukemia (CML). In the metabolic disease area, TERN-501, a thyroid hormone receptor-beta (THR-β) agonist, is in Phase 2a testing for nonalcoholic steatohepatitis (NASH), alongside ongoing research into oral GIPR antagonists and GLP-1 receptor agonists for obesity.

Corporate Structure and Experience

Terns Pharmaceuticals is a publicly traded company on the NASDAQ under the ticker “TERN.” As of November 2025, it employs between 51 and 200 professionals across research, clinical development, regulatory affairs, and corporate functions. The company engages in collaborations—such as its licensing agreement with Hansoh Pharmaceutical for development and commercialization rights for TERN-701 in mainland China, Taiwan, Hong Kong, and Macau—and maintains a culture aimed at attracting scientists and industry experts.

Biopharmaceuticals by little plant

Ongoing Research and Clinical Pipeline

On November 3, 2025, Terns announced that an abstract detailing clinical data for TERN-701 in relapsed/refractory CML was selected for an oral presentation at the 67th American Society of Hematology Annual Meeting (December 6–9, 2025, Orlando, FL). TERN-701 has been granted Orphan Drug Designation by the U.S. FDA and targets the ABL myristoyl pocket, which represents a mechanism distinct from first- and second-generation TKIs.

In the metabolic disease pipeline:

• TERN-501: A selective THR-β agonist with Phase 2a DUET study data suggesting tolerability and potential efficacy in NASH. Preclinical results published in August 2025 indicated that combining TERN-501 with semaglutide may enhance weight loss compared with semaglutide alone.
• Oral GIPR antagonists: Terns has nominated a lead candidate from a series of 800 compounds, focusing on GLP-1RA/GIPR antagonist combinations for obesity.

Financial Performance and Strategic Partnerships

On November 4, 2025, Terns’ shares closed at $17.81, reflecting a 26.94% increase on a volume of 5,505,206 shares traded on NASDAQ. The company's dividend score is low, suggesting a focus on reinvestment in research and development, while its hiring score indicates a measured approach to headcount expansion. Insider sentiment metrics are neutral ahead of the ASH presentation.

Strategically, Terns has:

• Licensed Greater China rights for TERN-701 to Hansoh Pharmaceutical
• Secured Orphan Drug Designation for TERN-701
• Collaborated with external synthesis teams for its GIPR antagonist program

Market Position and Industry Context

In the CML landscape, allosteric BCR-ABL inhibitors represent a next-generation approach aimed at addressing challenges such as drug resistance and off-target effects associated with traditional ATP-competitive TKIs. Published studies (Rea et al., 2021; Hochhaus et al., 2024) support the potential for allosteric inhibition as a differentiating strategy. The markets for obesity and NASH treatments are experiencing increased competition, with injectable GLP-1 receptor agonists leading, while THR-β agonists and GIPR modulators are emerging as oral options. Terns aims to position itself at the intersection of these trends by developing small molecules with established mechanisms of action.

tl;dr

• On November 3, 2025, Terns announced an ASH oral presentation (Dec 8, 2:45 PM ET) of Phase 1 data for TERN-701 in relapsed/refractory CML.
• Shares increased 26.94% to $17.81 on November 4, 2025, with 5.5 million shares traded.
• TERN-501’s Phase 2a DUET data and preclinical results regarding its combination with semaglutide indicate its metabolic profile.
• The company holds Orphan Drug Designation for TERN-701 and has licensed Greater China rights to Hansoh.
• Upcoming catalysts include the ASH presentation outcomes and the nomination of a lead GIPR antagonist candidate.