Terns Pharmaceuticals, Inc. announced that management will participate in three upcoming investor conferences in March 2023 and provided program updates across the Company's development programs as outlined below. Program Updates: TERN-701: Oral, allosteric BCR-ABL tyrosine kinase inhibitor (TKI) for chronic myeloid leukemia (CML): Terns expects to initiate a clinical trial for TERN-701 in the United States in the second half of 2023, with potential top-line readouts from initial dose-escalation cohorts in 2024, The Phase 1 trial for TERN-701 is expected to include sites from Europe and other Terns territories, in addition to the United States, Terns has initiated production of TERN-701 drug supply in support of the planned Phase 1 trial initiation in the second half of 2023. A trial-in-progress (TiP) abstract has been submitted to an upcoming major oncology conference and summarizes the ongoing Phase 1 study of TERN-701 (HS-10382) in China conducted by Terns' partner Hansoh.

The TiP abstract includes an update on enrollment progress across dose-escalation cohorts of TERN-701 (HS-10382) administered once daily. The Hansoh trial is a dose-escalation and dose-expansion trial (NCT05367700) evaluating the tolerability, efficacy, and pharmacokinetics of TERN-701 (HS-10382) in approximately 100 people with CML in China. TERN-501: Oral, thyroid hormone receptor-beta (THR-ß) agonist for NASH: The Phase 2a DUET trial (NCT05415722), evaluating TERN-501 as a monotherapy and in combination with TERN-101, completed enrollment in February 2023 with top-line data expected in the third quarter of 2023, Final enrollment in DUET exceeds 160, increased from the planned enrollment of 140 based on high demand for study participation, Primary endpoint is the relative change from baseline in liver fat content as measured by MRI protein density fat fraction (MRI-PDFF) at Week 12 for TERN-501 monotherapy compared with placebo, Secondary endpoints include assessment of safety and tolerability, pharmacokinetics, changes in MRI-PDFF and MRI corrected T1 (cT1), DUET is the first clinical trial assessing a THR-ß agonist as monotherapy and in combination with an FXR agonist in people with NASH FDA Type C meeting has been scheduled for May 2023.

Terns plans to explore the opportunity to leverage non-invasive endpoints to facilitate NASH development, The Type C meeting, together with data from the ongoing DUET trial, is expected to inform the next stages of clinical development for Terns' NASH program, Terns aims to present additional preclinical data to support the dosing of TERN-501 +/- TERN-101 at a scientific conference in the second quarter of 2023, Drug supply manufacturing is underway, and chronic toxicity data are expected by the third quarter of 2023, to enable the initiation of Phase 2b/3 development following DUET data availability, TERN-601: Oral, small-molecule glucagon-like peptide-1 (GLP-1) receptor agonist for obesity, Terns' lead GLP-1 receptor agonist program remains on track with the goal of initiating a Phase 1 first-in-human clinical trial in subjects with elevated BMI in the second half of 2023 and with top-line data expected in 2024, Terns anticipates completing TERN-601 drug product manufacturing in the first quarter of 2023, An abstract evaluating food-intake suppression in TERN-601 treated transgenic mice expressing human GLP-1 receptor has been submitted to a major diabetes-focused scientific conference. TERN-800: Oral, small-molecule glucose-dependent insulinotropic polypeptide receptor (GIPR) modulators for obesity, Lead structural series of GIPR modulators have been identified, with lead optimization efforts underway in 2023, Candidate nomination and initiation of IND-enabling activities expected in 2024, GIPR modulators have the potential for combination with GLP-1 receptor agonists, such as TERN-601.