Terns Pharmaceuticals Announces Leadership Transition
04 8월 2023 - 6:05AM
Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq:
TERN), a clinical-stage biopharmaceutical company developing a
portfolio of small-molecule product candidates to address serious
diseases, including oncology, non-alcoholic steatohepatitis (NASH)
and obesity, today announced that Senthil Sundaram has resigned
from his position as Terns’ Chief Executive Officer for health
reasons previously disclosed in January 2022. Mr. Sundaram also
resigned from the Board of Directors of Terns but will remain on as
a Senior Advisor to the Company. Erin Quirk, M.D., President and
Head of Research & Development at Terns, will assume leadership
of the Company, effective immediately.
“On behalf of the entire Board, I extend our gratitude to Sen
for his many contributions to Terns during his CEO tenure. Sen
played an important role in the Company’s buildout, including the
expansion and diversification of our pipeline and the execution of
our successful Initial Public Offering and subsequent sizeable
fundraises that secured our financial foundation, all of which will
propel Terns through to key growth inflection points. We wish all
the best for Sen and his family and will always consider him a
member of the Terns team,” said David Fellows, Chairman of the
Board of Terns. “Erin has been an integral member of Terns’
executive leadership for more than four years and has been a
valuable asset to the team as we have advanced our clinical
programs in oncology and metabolic diseases. She is well suited to
lead Terns through this transition.”
“I am proud of the progress we have made at Terns in recent
years and excited for the important data readouts in the coming
year, knowing I leave the Company in strong hands with our
excellent leadership team,” said Mr. Sundaram. “This is the right
time for me to retire from my corporate role to focus on my health
and on the important work I am doing with the Peritoneal Cancer
Foundation.”
“It has been my privilege and pleasure to partner with Sen over
the years to build Terns. His passion for translating cutting-edge
science into better medicines for the patients we serve is palpable
and inspires us all as we strive to advance his vision and to
perpetuate our patient-centric corporate culture,” stated Dr.
Quirk.
“We have a robust pipeline including three clinically validated
mechanisms of action across three indications where we believe we
can provide therapeutic benefit. We have plans for three key
clinical data readouts across these three programs between now and
the end of 2024 and have a strong balance sheet to support these
programs through to key milestones. The entire Terns team remains
committed to creating value for shareholders and patients as we
advance these new treatments for people living with serious
oncologic and metabolic diseases,” concluded Dr. Quirk.
Dr. Quirk has served as Terns’ President since June 2020 and as
Head of Research & Development since May 2021. She joined Terns
as Chief Medical Officer in 2019.
About Terns PharmaceuticalsTerns
Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company
developing a portfolio of small-molecule product candidates to
address serious diseases, including oncology, NASH and obesity.
Terns’ pipeline includes two clinical stage development programs
including an allosteric BCR-ABL inhibitor and a THR-β agonist (+/-
an FXR agonist), and preclinical small-molecule GLP-1 receptor
agonist and GIPR modulator programs. For more information, please
visit: www.ternspharma.com.
Cautionary Note Regarding Forward-Looking
Statements This 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 clinical trials and other development
activities of the Company and its partners; the potential
indications to be targeted by the Company with its small-molecule
product candidates; the therapeutic potential of the Company’s
small-molecule product 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, including the results of
any interactions with regulatory authorities on its programs; the
Company’s expectations regarding the profile of its product
candidates, including efficacy, 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
development strategy, including potential combinations involving
multiple product candidates; the impact of new legislation and
regulatory developments on the Company’s plans for its product
candidates, such as the effect of the Inflation Reduction Act of
2022; and the Company’s expectations with regard to its cash runway
and sufficiency of its cash resources. 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. 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, 2022. Except as required by
law, the Company undertakes no obligation to update publicly any
forward-looking statements for any reason.
Contacts for Terns
InvestorsMark
Vignolainvestors@ternspharma.com
MediaJenna UrbanBerry & Company Public
Relationsmedia@ternspharma.com
Terns Pharmaceuticals (NASDAQ:TERN)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Terns Pharmaceuticals (NASDAQ:TERN)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024