Terns Pharmaceuticals (TERN) investor relations material

Company overview and focus

• Founded in 2017, the company specializes in precision oncology, developing its own molecules, notably TERN-701 for chronic myeloid leukemia (CML).

• TERN-701 is a next-generation TKI with a differentiated safety profile and no food effect, addressing significant unmet needs in CML.

Clinical data and efficacy

• December data showed TERN-701 achieved 75% major molecular response (MMR) at go-forward doses, with deep molecular response rates over 30%.

• Efficacy is 2x-3x higher than asciminib in similar patient populations, with a clean safety profile and low rates of cytopenias.

• TERN-701 demonstrated efficacy in asciminib- and ponatinib-refractory patients, including those with challenging mutations.

• Patients achieving MMR maintained responses over a median 6.1 months follow-up.

• Confidence intervals for response rates do not overlap with asciminib, supporting superior efficacy.

Competitive landscape and market dynamics

• Imatinib transformed CML treatment but over half of patients become refractory; second-generation TKIs offer better efficacy but with safety trade-offs.

• Asciminib is gaining frontline market share due to improved safety and tolerability, but efficacy remains similar to 2G-TKIs.

• Tolerability and efficacy are key drivers for switching therapies, not just resistance mutations.