Short answer
Terns Pharmaceuticals, Inc. (TERN) filed its Q3 2025 10-Q quarterly report on Nov 10, 2025 for the quarter ended Sep 30, 2025.
Q3 2025 key financials · XBRL
- Net income
- −$542,000
- −168.5% YoY · −193.0% QoQ
- EPS (diluted)
- −$0.27
- +3.6% YoY · −3.8% QoQ
Source: XBRL data from the Terns Pharmaceuticals, Inc. (TERN) Q3 2025 10-Q on SEC EDGAR. USD.
Terns Pharmaceuticals, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Risk Factors
- New regulatory risk: FDA workforce cut by 3,500 employees due to HHS reduction in force, risking delays in drug review and approvals
- Most updated risk: Escalation of U.S.-China tariffs and trade tensions, including possible 100% tariff on imported branded drugs from Oct 2025
- Impactful compliance risk: U.S. BIOSECURE Act targeting biotech firms linked to Chinese military entities, potentially restricting federal funding access
- Operational risk: U.S. government shutdowns disrupting FDA and SEC activities, possibly delaying regulatory reviews and capital market access
- Financial risk: Uncertain tax impacts from 2025's One Big Beautiful Bill Act, including changes to R&D expensing and business interest deduction limits
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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