Terns Pharmaceuticals reports Q2 EPS (26c), consensus (29c)

As of June 30, 2025, cash, cash equivalents and marketable securities were $315.4M, as compared with $358.2M as of December 31, 2024. Based on its current operating plan, Terns expects these funds will be sufficient to support its planned operating expenses into 2028. “The Terns team continues to advance our clinical programs with strong momentum, a clear focus on execution and a strong balance sheet,” said Amy Burroughs, chief executive officer of Terns. “We are on track for two key clinical readouts in CML and obesity by year-end. The fourth quarter data readout from the Phase 1 CARDINAL trial in 2L+ CML will enable comparison of the efficacy and safety results of TERN-701 with data from other Phase 1 CML trials, including asciminib’s.”