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Terns Pharmaceuticals Priced, Nasdaq: TERN

Phase 2 biotech developing small molecule therapies for NASH.

Industry: Health Care

Latest Trade: $10.71 0.00 (0.0%)

First Day Return: +8.2%

Return from IPO: -37.0%

Industry: Health Care

We are a clinical-stage biopharmaceutical company developing a portfolio of small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis, or NASH, and other chronic liver diseases. Our most advanced program is TERN-101, a liver-distributed, non-bile acid Farnesoid X Receptor agonist that has demonstrated sustained liver FXR activation, as well as a favorable tolerability profile across multiple Phase 1 clinical trials. In our Phase 1 clinical trials, no pruritus, or itching, or increases in LDL cholesterol levels as compared to the control group were observed—unlike in Phase 1 clinical trials of certain other FXR agonists conducted by third parties. We initiated our Phase 2a clinical trial of TERN-101 in NASH patients (the LIFT study) in June 2020 and expect top-line data in the third quarter of 2021. Our second clinical stage program, TERN-201, is a highly selective inhibitor of Vascular Adhesion Protein-1. We intend to start our Phase 1b clinical trial of TERN-201 in NASH patients in the first half of 2021 and expect top-line data in the first half of 2022. Our third program entering the clinic is TERN-501, a Thyroid Hormone Receptor beta, agonist with high metabolic stability, enhanced liver distribution and greater selectivity for THR-b compared to other THR-b agonists in development. We intend to start our Phase 1 first-in-human clinical trial of TERN-501 in the first half of 2021 and expect top-line data in the second half of 2021.
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IPO News for Terns Pharmaceuticals
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IPO Data
IPO File Date 01/15/2021
Offer Price $17.00
Price Range $15.00 - $17.00
Offer Shares (mm) 7.5
Deal Size ($mm) $128
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 02/04/2021
Offer Price $17.00
Price Range $15.00 - $17.00
Offer Shares (mm) 7.5
Deal Size ($mm) $128
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Foster City, CA
Founded 2016
Employees 30
Website www.ternspharma.com