Terns Pharmaceuticals, Inc. (TERN)

The share price of Terns Pharmaceuticals saw a significant increase of 2,188.70% from April 9, 2025, to April 8, 2026. On March 25, 2026, Merck announced a definitive agreement to acquire Terns Pharmaceuticals for $53.00 per share in cash. TERN-701 received FDA Fast Track designation in Q4 2025, and Terns Pharmaceuticals provided a data update for TERN-701 on December 8, 2025. The company participated in the J.P. Morgan 44th Annual Healthcare Conference on January 12, 2026, and announced participation in upcoming March investor conferences on February 25, 2026. The company presented at several conferences in March 2026. The development of TERN-601 was discontinued, and shareholder investigations were initiated following the Merck acquisition announcement.

As a clinical-stage biopharmaceutical company without commercialized products, Terns Pharmaceuticals does not have demand seasonality. Demand for its pipeline assets is driven by clinical trial progress, regulatory approvals, and market adoption.

Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing small-molecule product candidates for serious diseases, primarily in oncology and obesity, as well as chronic liver diseases like MASH and NASH. Its major product candidates include TERN-701, an oral BCR-ABL tyrosine kinase inhibitor for CML in Phase 1/2 development with FDA Fast Track and Orphan Drug designations; TERN-501, a thyroid hormone receptor beta agonist in Phase 2a clinical trials for MASH and/or obesity; TERN-800 series (TERN-801), small-molecule GIPR modulators for obesity; and TERN-601, a GLP-1R agonist whose development was discontinued after Phase 2 data.

Terns Pharmaceuticals is headquartered in Foster City, California, United States. It has also licensed development and commercialization rights for TERN-701 to Hansoh in mainland China, Taiwan, Hong Kong, and Macau.

Terns Pharmaceuticals' brand reputation has been positively influenced by its clinical pipeline progress and acquisition by Merck, reflecting the potential of TERN-701. The FDA's Fast Track and Orphan Drug Designations for TERN-701 further enhance the company's reputation. The discontinuation of TERN-601 could be seen as a minor setback, while shareholder investigations could create some reputational noise. Overall, the acquisition by Merck indicates a positive brand reputation, particularly concerning its oncology pipeline.

Approximately 88.4% to 108.78% of Terns Pharmaceuticals is held by institutional investors, including BlackRock, Inc., Morgan Stanley, and Vanguard Group Inc. Individual ownership ranges from approximately 0.95% to 17.95%, with Vivo Opportunity LLC holding 10.00% of the company's shares.