Terns Pharmaceuticals posts narrower than expected Q3 net loss

Terns Pharmaceuticals

10/11/2025 21:43

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/Miss
Actual
Consensus Estimate
Q3 Net Income
Beat
-$24.64 mln
-$27.35 mln (8 Analysts)
Q3 Income from Operations
Beat
-$27.72 mln
-$29.88 mln (9 Analysts)
Q3 Pretax Profit
Beat
-$24.59 mln
-$27.34 mln (8 Analysts)
Q3 Basic EPS
-$0.27
Q3 Operating Expenses
$27.72 mln


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 is $25.00, about 26.1% above its November 7 closing price of $18.47

Press Release: ID:nGNX8fGp8q

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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.)