Terns Pharmaceuticals, Inc.·Healthcare

Tern PLC (AIM:TERN) shares surged some 30% higher, to 1.18p, after it increased exposure to Talking Medicines - an AI company aiming to help healthcare advertising agencies analyse conversational data for pharmaceutical clients - through around £270,000 of new unsecured convertible loan notes, using a structure that gives the AIM-listed investor roughly twice the principal exposure of its fresh cash and cancelled debt contribution. The investment company, which backs early-stage Internet of Things technology businesses, said the CLNs were issued after it agreed to cancel around £87,000 owed by Talking Medicines and put in a further £48,000 of new funds.

RAHWAY, N.J.--(BUSINESS WIRE)--Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced the successful completion of the acquisition of Terns Pharmaceuticals, Inc. (“Terns”) (Nasdaq: TERN). “The Terns acquisition reflects Merck's continued focus on science‑driven, value‑enhancing business development aimed at bringing meaningful innovation to patients,” said Robert M. Davis, chairman and chief executive officer, Merck. “We believe TERN‑701 has the potential to be.

Merck retains a 'strong buy' rating, driven by proactive oncology pipeline expansion to offset KEYTRUDA patent expiration in 2028. Acquisition of Terns Pharmaceuticals brings TERN-701, a best-in-disease oral BCR-ABL1 TKI for CML, with multibillion-dollar potential and recent FDA Breakthrough Therapy Designation. The company advances the KEYTRUDA family with QLEX SC formulation and combination therapies, targeting new PDUFA approvals in bladder and renal cancers through 2026.

Merck MRK is set to report its first-quarter 2026 earnings on April 30, before market open. The Zacks Consensus Estimate for first-quarter top line is pegged at $15.90 billion, while the same for the bottom line stands at a loss of $1.51 per share.

Designation for the treatment of adult patients with Philadelphia chromosome-positive chronic myeloid leukemia (Ph+ CML) in the chronic phase (CP) without the T315I mutation previously treated with two or more tyrosine kinase inhibitors (TKIs) Designation for the treatment of adult patients with Philadelphia chromosome-positive chronic myeloid leukemia (Ph+ CML) in the chronic phase (CP) without the T315I mutation previously treated with two or more tyrosine kinase inhibitors (TKIs)

RAHWAY, N.J.--(BUSINESS WIRE)--Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”), in connection with Merck's pending acquisition of Terns Pharmaceuticals, Inc. (“Terns”) (Nasdaq: TERN) expired at 11:59 p.m., Eastern Time, on April 23, 2026. As previously announced on April 7, 2026, Merck commenced, through a subsidiary, a cash tender offer to purchase.
Terns Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, develops small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis (NASH) and obesity. The company develops TERN-101, a liver-distributed and non-bile acid farnesoid X receptor agonist, which is in Phase IIa clinical trial for the treatment of NASH; and TERN-201, a vascular adhesion protein-1 inhibitor that is in Phase Ib clinical trial for the treatment of NASH. It also develops TERN-501, a thyroid hormone receptor beta agonist with enhanced liver distribution and metabolic stability that is in Phase I clinical trial for the treatment of NASH; and TERN-601, a small-molecule Glucagon-Like Peptide-1 receptor agonist program that is intended to orally be administered for NASH and metabolic diseases, such as obesity. The company was incorporated in 2016 and is headquartered in Foster City, California.
Healthcare
Biotechnology
59
2021-02-05
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