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Terns Pharmaceuticals Inc. shares have tumbled to a 52-week low, touching down at $3.27, marking a significant downturn for the biopharmaceutical company with a market capitalization of $282 million. According to InvestingPro analysis, the stock’s RSI indicates oversold conditions, suggesting potential for a technical rebound. This latest price level reflects a stark contrast to the more buoyant trading periods in the past year, with the stock experiencing a precipitous 1-year change, plummeting by 54% from its 52-week high of $11.4. Investors are closely monitoring Terns Pharmaceuticals as it navigates through a challenging phase, with market sentiment reflecting the broader pressures faced by the biotech industry amidst a complex healthcare landscape. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with 13 additional exclusive insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, Terns Pharmaceuticals has announced several significant developments. The company reported updates on its clinical trials, including the CARDINAL study for TERN-701, which has completed its dose escalation phase and will soon begin dose expansion. Interim data showed promising molecular responses and a favorable safety profile, with further results expected later in 2025. In addition, Terns Pharmaceuticals is preparing for the Phase 2 FALCON trial of TERN-601, focusing on obesity treatment, with data anticipated in the latter half of 2025. Financially, Terns maintains a strong position, with a cash reserve of $372.8 million expected to fund operations into 2028.
The company has also appointed Andrew Gengos as its new Chief Financial Officer, following the departure of Mark Vignola. Gengos brings extensive experience from previous roles at Athira Pharma and Cyteir Therapeutics. Oppenheimer analysts have maintained an Outperform rating for Terns Pharmaceuticals, citing the potential of TERN-701 for Chronic Myeloid Leukemia as a key catalyst. The analysts highlighted the promising efficacy and safety data from Phase 1 studies and anticipate further insights from upcoming data releases.
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