ORBIMED Advisors LLC reduced its stake in Terns Pharmaceuticals by 5.4 million shares ($125 million) in Q4 2025, though the stock surged 858% over the past year. The clinical-stage biotech company, focused on NASH and metabolic disease treatments, now represents 1.78% of the fund's portfolio. Investors should monitor upcoming clinical trial data to determine if the valuation is justified.

First Turn Management disclosed a $35.23 million position in clinical-stage biotech Terns Pharmaceuticals (872,049 shares), representing 4.03% of the fund's assets. The investment comes as TERN stock has surged 826% over the past year, driven by strong Phase 1 data for TERN-701 in cancer treatment. The article cautions investors to separate momentum from fundamentals, noting that clinical-stage biotech carries significant volatility and valuation risk despite compelling science.

Terns Pharmaceuticals plans to raise $650 million through a public offering of 16,250,000 shares at $40.00 per share, with proceeds intended to fund research, clinical trials, and development of product candidates like TERN-701.

Terns Pharmaceuticals reported promising Phase 1 clinical trial results for TERN-701, an investigational BCR::ABL1 inhibitor for chronic myeloid leukemia (CML), showing 64-75% major molecular response rates and a favorable safety profile across patient subgroups.

Commodore Capital initiated a $42.8 million stake in Terns Pharmaceuticals during Q3, representing 2.1% of its reportable assets. The biotech company has shown promising early efficacy data for its oncology program and is preparing for an upcoming presentation at the American Society of Hematology.

Terns Pharmaceuticals has a promising GLP-1 weight-loss drug that could compete with treatments from Novo Nordisk and Eli Lilly. However, the company is still in early stages and faces risks, including the need for ongoing stock offerings to fund its cash-burning operations.

Terns Pharmaceuticals, a pre-revenue weight loss biotech company, is worth considering as its lead candidate TERN-601 has shown promising phase 1 results, suggesting it could be competitive with other weight loss drugs on the market.

Terns Pharmaceuticals, a small-cap biotech company, is developing an oral GLP-1 drug for weight loss. While the initial phase 1 results are promising, the company faces competition from larger players like Novo Nordisk, which has more resources to push its candidates through the development stages faster.

Terns Pharmaceuticals is developing a promising weight loss therapy, TERN-601, which has shown competitive weight loss results and good tolerability in early-stage trials. The company has sufficient cash runway, but there are still risks associated with the drug's development. Overall, Terns is a compelling biotech stock pick for investors willing to be patient.

Terns Pharmaceuticals, a clinical-stage biopharmaceutical company, announced the pricing of its upsized underwritten public offering of 11,919,048 shares of its common stock at $10.50 per share, as well as pre-funded warrants to purchase 2,380,952 shares. The company intends to use the net proceeds to fund research, clinical trials, and development of its key product candidates.

Altimmune and Terns Pharmaceuticals are two lesser-known biotechs that could potentially compete with Eli Lilly and Novo Nordisk in the weight-loss drug market. Altimmune's lead candidate, ALT-801, shows promise of causing significant weight loss without substantial muscle mass loss, which could make it a better option for certain demographics. Terns Pharmaceuticals is earlier in the development process, but its preclinical candidate targeting the thyroid beta receptor could be interesting.

TERN-501 significantly improved the efficacy of a GLP-1 receptor agonist by normalizing energy expenditure, resulting in greater weight loss, increased fat mass loss and relative preservation of lean mass TERN-501 significantly improved the efficacy of a GLP-1 receptor agonist by normalizing energy expenditure, resulting in greater weight loss, increased fat mass loss and relative preservation of lean mass