24/7 Market News Snapshot 09 September, 2024 – Terns Pharmaceuticals, Inc. Common Stock (NASDAQ:TERN)

September 9, 2024

DENVER, Colo., 09 September, 2024 (247marketnews.com) – (NASDAQ:TERN) are discussed in this article.
Terns Pharmaceuticals, Inc. (NASDAQ:TERN) has recently captured investor attention with its notable pre-market surge, trading at $9.405, reflecting a remarkable 20.42% increase from the previous close of $7.810, alongside a trading volume of 1.23 million shares. This bullish momentum appears driven by significant advancements in the company’s innovative drug pipeline, particularly surrounding the promising results of TERN-601, a novel oral glucagon-like peptide-1 receptor agonist (GLP-1R agonist).

The company has announced compelling top-line data from its Phase 1 clinical trial of TERN-601, which involved a randomized, double-blind, placebo-controlled study focusing on healthy adults with obesity or overweight. Results indicate statistically significant weight loss, with participants receiving the highest dose experiencing an average reduction of 5.5% over 28 days, translating to a 4.9% placebo-adjusted decrease. Impressively, 67% of those taking the maximum dose achieved at least a 5% reduction in body weight from their baseline measurements.

CEO Amy Burroughs highlighted the trial’s compelling findings, stating that TERN-601’s efficacy and well-tolerated profile may redefine obesity management standards. The trial confirmed the ability to use rapid dose titration without serious adverse effects, underscoring its safety and tolerance among participants.

Looking ahead, Terns Pharmaceuticals is poised to advance TERN-601 to Phase 2 trials slated for 2025, leveraging the momentum of its current success. The firm anticipates further elaborating on these developments in an upcoming conference call, reiterating its dedication to pioneering innovative therapies that can enhance treatment options for critical health issues, including obesity. With TERN gathering traction in the market, investor interest is likely to intensify.

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