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FOSTER CITY, Calif.—Kuriakose Emil, the Chief Medical (TASE:BLWV) Officer of Terns Pharmaceuticals , Inc. (NASDAQ:TERN), sold 952 shares of the company’s common stock on April 1, 2025. The shares were sold at a weighted average price of $2.4851, generating a total of $2,365. The transaction comes as the stock trades near its 52-week low of $2.46, having declined nearly 70% over the past six months. According to InvestingPro analysis, the stock appears undervalued at current levels.
The transaction was made to satisfy tax obligations related to the vesting of a restricted stock unit award previously granted to Emil. Following this sale, Emil retains direct ownership of 53,317 shares in the company.
This sale was not a discretionary trade but was carried out to cover tax liabilities associated with the vesting process.
In other recent news, Terns Pharmaceuticals has shared updates on its clinical trials and leadership changes. The company announced progress in its CARDINAL study for TERN-701, focusing on chronic myeloid leukemia, with promising interim data showing strong molecular responses and a favorable safety profile. A Phase 2 trial for TERN-601, targeting obesity, is also set to begin early in the second quarter of 2025. Financially, Terns Pharmaceuticals remains robust, with cash reserves expected to support operations into 2028. Additionally, Andrew Gengos has been appointed as the new Chief Financial Officer, bringing extensive experience from his previous roles in the life sciences sector. The company has also entered into a consulting agreement with its former CFO, Mark Vignola, to ensure a smooth transition. Meanwhile, Oppenheimer analysts maintained an Outperform rating on Terns Pharmaceuticals, citing the potential of TERN-701 and upcoming data releases as key catalysts. The analysts noted the importance of the forthcoming data readouts for TERN-701 and TERN-601 in enhancing the company’s profile.
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