Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq:
TERN), a clinical-stage biopharmaceutical company developing a
portfolio of small-molecule single-agent and combination therapy
candidates to address serious diseases such as non-alcoholic
steatohepatitis (NASH), obesity and cancer, today announced the
appointment of Kerry Russell, M.D., Ph.D., as chief medical
officer. Dr. Russell will report to Erin Quirk, M.D., who remains
president and head of research and development.
“We are thrilled to welcome Kerry to the Terns team; her deep
experience broadens our expertise and brings important insights as
we progress our pipeline across multiple therapeutic areas,” said
Dr. Quirk. “There are exciting times ahead at Terns, with key
clinical trial data readouts expected for three of our programs,
TERN-501, TERN-601 and TERN-701, across three indications over the
next few years. I look forward to working closely with Kerry in
advancing these multiple programs.”
Prior to joining Terns, Dr. Russell was vice president of late
clinical development at Dicerna Pharmaceuticals, Inc. (acquired by
Novo Nordisk A/S in December 2021), where she led the development
of siRNA therapeutics for rare diseases from June 2020 until May
2022. Before that, she served as vice president of clinical
development at resTORbio, Inc. She previously served as senior
director of translational cardiovascular and metabolic medicine at
Novartis Institute of Biomedical Research and was an NIH-funded
associate professor at Yale University School of Medicine for more
than 13 years. Dr. Russell received her Ph.D. in molecular oncology
from The University of Texas MD Anderson Cancer Center and her M.D.
from the University of Texas Health Science Center at Houston. She
completed her internship and residency in internal medicine at Yale
New Haven Hospital and both her fellowship in cardiovascular
medicine and postdoctoral fellowship in vascular biology at Yale
University School of Medicine. She received her B.S. in
biochemistry and biology from Rice University.
“Terns is at an important stage of growth,” said Dr. Russell.
“With the company’s renewed focus on dedicating resources to
advance its most promising pipeline candidates and its
multi-faceted, clinically validated approach to address NASH and
other serious diseases like obesity and chronic myeloid leukemia, I
believe Terns is making significant progress in its efforts to
bring much needed, transformative medicines to patients. I look
forward to working with the rest of the Terns team to reach this
goal.”
About Terns PharmaceuticalsTerns
Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company
developing a portfolio of small-molecule single-agent and
combination therapy candidates to address serious diseases such as
NASH, obesity and cancer. Terns’ pipeline includes four clinical
stage development programs including a THR- β agonist, an FXR
agonist, an allosteric BCR-ABL inhibitor, a VAP-1 inhibitor, and a
preclinical small-molecule GLP-1 receptor agonist program. For more
information, please visit: www.ternspharma.com.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements about Terns Pharmaceuticals, Inc. (the “Company,” “we,”
“us,” or “our”) within the meaning of the federal securities laws,
including those related to the Company’s expectations of timing and
potential results of the Company’s clinical trials and other
development activities, such as the Phase 2a combination trial of
TERN-501 and TERN-101, the Phase 1 clinical program for TERN-601,
and the Phase 1 clinical trial for TERN-701; the potential
indications to be targeted by the Company with its single-agent and
combination therapy candidates; the therapeutic potential of the
Company’s single-agent and combination therapy candidates; the
potential for the mechanisms of action of the Company’s product
candidates to be therapeutic targets for their targeted
indications; the potential utility and progress of the Company’s
product candidates in their targeted indications, including the
clinical utility of the data from and the endpoints used in the
Company’s clinical trials; the Company’s clinical development plans
and activities; the Company’s expectations regarding the profile of
its product candidates, including tolerability, safety, metabolic
stability and pharmacokinetic profile and potential differentiation
as compared to other products or product candidates; the Company’s
plans for and ability to continue to execute on its current
clinical strategy; and the Company’s expectations with regard to
its cash runway. All statements other than statements of historical
facts contained in this press release, including statements
regarding the Company’s strategy, future financial condition,
future operations, future trial results, projected costs,
prospects, plans, objectives of management and expected market
growth, are forward-looking statements. In some cases, you can
identify forward-looking statements by terminology such as “aim,”
“anticipate,” “assume,” “believe,” “contemplate,” “continue,”
“could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,”
“may,” “objective,” “plan,” “positioned,” “potential,” “predict,”
“seek,” “should,” “target,” “will,” “would” and other similar
expressions that are predictions of or indicate future events and
future trends, or the negative of these terms or other comparable
terminology. The Company has based these forward-looking statements
largely on its current expectations, estimates, forecasts and
projections about future events and financial trends that it
believes may affect its financial condition, results of operations,
business strategy and financial needs. In light of the significant
uncertainties in these forward-looking statements, you should not
rely upon forward-looking statements as predictions of future
events. These statements are subject to risks and uncertainties
that could cause the actual results and the implementation of the
Company’s plans to vary materially, including the risks associated
with the initiation, cost, timing, progress, results and utility of
the Company’s current and future research and development
activities and preclinical studies and clinical trials. In
particular, the impact of the COVID-19 pandemic on the Company’s
ability to progress with its research, development, manufacturing
and regulatory efforts, including the Company’s clinical trials for
its product candidates, will depend on future developments that are
highly uncertain and cannot be predicted with confidence at this
time, such as the ultimate duration of the pandemic, travel
restrictions, quarantines, social distancing and business closure
requirements in the United States and in other countries, and the
effectiveness of actions taken globally to contain and treat the
disease. These risks are not exhaustive. For a detailed discussion
of the risk factors that could affect the Company’s actual results,
please refer to the risk factors identified in the Company’s SEC
reports, including but not limited to its Annual Report on Form
10-K for the year ended December 31, 2021. Except as required by
law, the Company undertakes no obligation to update publicly any
forward-looking statements for any reason.
Contacts for Terns
InvestorsJustin Nginvestors@ternspharma.com
MediaJenna UrbanBerry & Company Public
Relationsmedia@ternspharma.com
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