Terns Pharmaceuticals, Inc. announced the pricing of an upsized underwritten public offering of 16,250,000 shares of its common stock at $40.00 per share.
The gross proceeds from the offering are expected to be $650 million, excluding underwriting discounts and commissions.
The offering is expected to close on December 11, 2025, with the company intending to use the net proceeds for research, clinical trials, and general corporate purposes.
Offering Details
16,250,000 shares priced at $40.00 per share totaling $650 million, with an option for additional shares.
Underwriters
Jefferies, TD Cowen, and Leerink Partners are leading the offering.
Use of Proceeds
Funding research, clinical trials, TERN-701 development, and working capital purposes.
- Terns Pharmaceuticals aims to enhance oncology treatment with its lead program TERN-701, a selective BCR-ABL inhibitor.
- The successful offering will provide financial support for key product candidates' development and potential commercialization.
The public offering signals Terns Pharmaceuticals' commitment to advancing oncology therapies and highlights investor confidence in the company's pipeline and future prospects.