Terns Pharmaceuticals Receives Breakthrough Therapy Designation for TERN-701
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 27 2026
0mins
Terns Pharmaceuticals announced that the FDA granted breakthrough therapy designation to TERN-701, a novel, oral allosteric BCR::ABL1 inhibitor, for the treatment of adult patients with Ph+ CML in the chronic phase without the T315I mutation previously treated with two or more TKIs.
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Analyst Views on TERN
Wall Street analysts forecast TERN stock price to rise
11 Analyst Rating
11 Buy
0 Hold
0 Sell
Strong Buy
Current: 52.950
Low
35.00
Averages
54.22
High
60.00
Current: 52.950
Low
35.00
Averages
54.22
High
60.00
About TERN
Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity. Its product candidates in pipeline includes TERN-701, TERN-601 and TERN-501. TERN-701 is its oral, potent, allosteric BCR-ABL tyrosine kinase inhibitors (TKI) specifically targeting the ABL myristoyl pocket for CML, a form of cancer that begins in the bone marrow and leads to the growth of leukemic cells. TERN-601 is a small-molecule glucagon-like peptide-1 receptor (GLP-1R) agonist that is intended to be orally administered for obesity. TERN-501 is a thyroid hormone receptor beta (THR-b) agonist with high metabolic dysfunction-associated steatohepatitis (MASH). It is also focused on developing the TERN-800 series of small-molecule glucose-dependent insulinotropic polypeptide receptor (GIPR) modulators for obesity.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Weight Loss Market Dynamics: Eli Lilly (LLY) saw its stock price climb nearly 25% over the past month, making it the strongest performer among major obesity drug stocks, highlighting investor recognition of its sustained demand for GLP-1 therapies and market leadership.
- Viking's Competitive Edge: Truist emphasized that Viking's VK2735 drug achieved a 14.7% weight loss in just 13 weeks, with patients continuing to lose weight, showcasing its differentiated competitive advantage in the obesity drug market that could attract more patients.
- Lilly's Market Expansion: Lilly recently announced deals worth up to $3.8 billion with three vaccine developers, further expanding its footprint in infectious diseases and long-term healthcare infrastructure, indicating growth potential beyond its obesity drug portfolio.
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Terns Receives FDA Breakthrough Therapy Designation for TERN-701
- FDA Breakthrough Designation: Terns Pharmaceuticals announced that its oral allosteric BCR::ABL1 inhibitor TERN-701 has received Breakthrough Therapy Designation from the FDA for adult patients with Ph+ CML in chronic phase previously treated with two or more TKIs, indicating significant clinical potential.
- Clinical Trial Progress: TERN-701 has shown promising efficacy in the ongoing CARDINAL clinical trial, with encouraging rates of major molecular response and deep molecular response observed at week 24, particularly in patients with treatment failure, highlighting its importance in treatment options.
- Safety and Tolerability: The majority of treatment-emergent adverse events were reported as low grade, with a low incidence of severe adverse events, demonstrating TERN-701's advantages in safety and tolerability, potentially offering better treatment options for CML patients.
- Strategic Partnership Outlook: This FDA designation, along with Merck's agreement to acquire Terns, may accelerate TERN-701's advancement to pivotal trial stages, further propelling its commercialization efforts to meet significant unmet medical needs.
See More
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Recent Performance: The company has recently experienced a decline in stock performance, attributed to various market factors and investor sentiment.
Strategic Changes: Terns is implementing strategic changes to enhance its operational efficiency and improve overall performance in the competitive pharmaceutical landscape.
Future Outlook: The company aims to regain investor confidence and improve its market position through upcoming product developments and strategic partnerships.
See More
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Company Overview: Tern Pharmaceuticals is a company focused on developing innovative therapeutics in the pharmaceutical sector.
Recent Performance: The company has recently experienced a decline in performance, moving from an outperforming status to a cut in performance ratings.
See More
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- Regulatory Approval: Merck's $6.7 billion acquisition of Terns Pharmaceuticals has successfully passed the Hart-Scott-Rodino Act review, indicating no antitrust concerns from regulators, which ensures a smooth transaction process.
- Cash Tender Offer: Merck will acquire all outstanding shares of Terns at $53.00 each, a price that reflects high confidence in Terns' future potential while providing substantial returns for investors.
- Expected Closing: The deal is anticipated to close in Q2 2024, providing Merck with a strategic opportunity to position itself ahead of the Keytruda patent cliff, which is critical for maintaining revenue streams.
- Positive Market Reaction: This acquisition is viewed as part of Merck's aggressive M&A strategy to navigate the impending Keytruda patent expiration, demonstrating the company's commitment to expanding its portfolio and investing in new drug development.
See More
Investor Rights Law Firm Investigates Multiple Companies
- Legal Investigation: Halper Sadeh LLC is investigating companies such as Terns Pharmaceuticals, Inc., Soleno Therapeutics, Inc., and Whitestone REIT for potential violations of federal securities laws or breaches of fiduciary duties, highlighting concerns for investor rights.
- Transaction Price Analysis: Both Terns Pharmaceuticals and Soleno Therapeutics are being acquired at $53.00 per share, while Whitestone REIT is being sold for $19.00 per share or unit, suggesting these prices may not reflect the companies' true values, potentially leading to investor losses.
- Shareholder Rights Protection: Halper Sadeh LLC encourages shareholders to contact them to discuss their rights and options, committing to handle related matters at no upfront cost, aiming to provide legal support for affected investors.
- Legal Fee Arrangement: The firm states it will operate on a contingency fee basis, meaning shareholders will not be responsible for upfront legal fees and expenses, thereby reducing the legal risk for investors.
See More
Truist Initiates Coverage on VKTX with Buy Rating and $83 Price Target
- Analyst Rating Boost: Truist has initiated coverage on Viking Therapeutics (VKTX) with a ‘Buy’ rating and an $83 price target, indicating a potential upside of 162% from current levels, reflecting strong market confidence in its growth prospects.
- Weight Loss Market Dynamics: Eli Lilly (LLY) saw its stock price climb nearly 25% over the past month, making it the strongest performer among major obesity drug stocks, highlighting investor recognition of its sustained demand for GLP-1 therapies and market leadership.
- Viking's Competitive Edge: Truist emphasized that Viking's VK2735 drug achieved a 14.7% weight loss in just 13 weeks, with patients continuing to lose weight, showcasing its differentiated competitive advantage in the obesity drug market that could attract more patients.
- Lilly's Market Expansion: Lilly recently announced deals worth up to $3.8 billion with three vaccine developers, further expanding its footprint in infectious diseases and long-term healthcare infrastructure, indicating growth potential beyond its obesity drug portfolio.
See More
Terns Receives FDA Breakthrough Therapy Designation for TERN-701
- FDA Breakthrough Designation: Terns Pharmaceuticals announced that its oral allosteric BCR::ABL1 inhibitor TERN-701 has received Breakthrough Therapy Designation from the FDA for adult patients with Ph+ CML in chronic phase previously treated with two or more TKIs, indicating significant clinical potential.
- Clinical Trial Progress: TERN-701 has shown promising efficacy in the ongoing CARDINAL clinical trial, with encouraging rates of major molecular response and deep molecular response observed at week 24, particularly in patients with treatment failure, highlighting its importance in treatment options.
- Safety and Tolerability: The majority of treatment-emergent adverse events were reported as low grade, with a low incidence of severe adverse events, demonstrating TERN-701's advantages in safety and tolerability, potentially offering better treatment options for CML patients.
- Strategic Partnership Outlook: This FDA designation, along with Merck's agreement to acquire Terns, may accelerate TERN-701's advancement to pivotal trial stages, further propelling its commercialization efforts to meet significant unmet medical needs.
See More
TERNS PHARMACEUTICALS INC.: OPPENHEIMER LOWERS RATING TO PERFORM FROM OUTPERFORM
Company Overview: Terns Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing innovative therapies for patients with unmet medical needs.
Recent Performance: The company has recently experienced a decline in stock performance, attributed to various market factors and investor sentiment.
Strategic Changes: Terns is implementing strategic changes to enhance its operational efficiency and improve overall performance in the competitive pharmaceutical landscape.
Future Outlook: The company aims to regain investor confidence and improve its market position through upcoming product developments and strategic partnerships.
See More
TERNS PHARMACEUTICALS INC: OPPENHEIMER LOWERS RATING TO PERFORM FROM OUTPERFORM
Company Overview: Tern Pharmaceuticals is a company focused on developing innovative therapeutics in the pharmaceutical sector.
Recent Performance: The company has recently experienced a decline in performance, moving from an outperforming status to a cut in performance ratings.
See More
Merck's $6.7B Acquisition of Terns Clears Regulatory Hurdles
- Regulatory Approval: Merck's $6.7 billion acquisition of Terns Pharmaceuticals has successfully passed the Hart-Scott-Rodino Act review, indicating no antitrust concerns from regulators, which ensures a smooth transaction process.
- Cash Tender Offer: Merck will acquire all outstanding shares of Terns at $53.00 each, a price that reflects high confidence in Terns' future potential while providing substantial returns for investors.
- Expected Closing: The deal is anticipated to close in Q2 2024, providing Merck with a strategic opportunity to position itself ahead of the Keytruda patent cliff, which is critical for maintaining revenue streams.
- Positive Market Reaction: This acquisition is viewed as part of Merck's aggressive M&A strategy to navigate the impending Keytruda patent expiration, demonstrating the company's commitment to expanding its portfolio and investing in new drug development.
See More
Investor Rights Law Firm Investigates Multiple Companies
- Legal Investigation: Halper Sadeh LLC is investigating companies such as Terns Pharmaceuticals, Inc., Soleno Therapeutics, Inc., and Whitestone REIT for potential violations of federal securities laws or breaches of fiduciary duties, highlighting concerns for investor rights.
- Transaction Price Analysis: Both Terns Pharmaceuticals and Soleno Therapeutics are being acquired at $53.00 per share, while Whitestone REIT is being sold for $19.00 per share or unit, suggesting these prices may not reflect the companies' true values, potentially leading to investor losses.
- Shareholder Rights Protection: Halper Sadeh LLC encourages shareholders to contact them to discuss their rights and options, committing to handle related matters at no upfront cost, aiming to provide legal support for affected investors.
- Legal Fee Arrangement: The firm states it will operate on a contingency fee basis, meaning shareholders will not be responsible for upfront legal fees and expenses, thereby reducing the legal risk for investors.
See More
