Terns Pharmaceuticals, Inc. (TERN) FY2024 10-K Annual Report
Terns Pharmaceuticals, Inc. (TERN) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Mar 20, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Terns Pharmaceuticals, Inc. FY2024 10-K Analysis
Business Overview
- • Core business: clinical-stage biopharmaceutical developing small-molecule therapies for serious diseases including oncology (CML) and obesity
- • New emphasis on TERN-701 allosteric BCR-ABL inhibitor for CML with positive Phase 1 data and FDA orphan drug designation in March 2024
Management Discussion & Analysis
- • No revenue from product sales in FY 2024 and 2023; potential milestone revenue from TERN-701 license in Greater China
- • Net loss $88.9M in 2024 vs $90.2M in 2023; operating expenses $101.9M vs $102.6M; R&D expenses rose 10% to $70.1M, G&A expenses decreased 19% to $31.8M
Risk Factors
- • Regulatory risk: compliance with Section 404 of Sarbanes-Oxley Act may cause significant costs and penalties
- • Macroeconomic threat: global economic downturn may weaken demand and delay payments for potential approved drugs
Terns Pharmaceuticals, Inc. FY2024 Key Financial MetricsXBRL
Net Income
-$89M
▲ +1.5% YoY
ROE
-25.7%
▲ +964bp YoY
Total Assets
$364M
▲ +35.5% YoY
EPS (Diluted)
$-1.12
▲ +11.8% YoY
Operating Cash Flow
-$70M
▼ -3.9% YoY
Source: XBRL data from Terns Pharmaceuticals, Inc. FY2024 10-K filing on SEC EDGAR. All figures in USD.
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