Terns Pharmaceuticals Highlights New Preclinical Data for TERN-601 Program in Obesity at the ADA’s 83rd Annual Scientific Session and Upcoming Events

TERN-601 significantly improved glucose tolerance, suppressed food intake and slowed gastric emptying in a preclinical transgenic mouse model

Company to participate in upcoming Piper Sandler Inaugural Obesity Investor Day on June 28^th

Company to host webinar detailing Terns’ Obesity Franchise on June 29^th at 11:00 a.m. ET

FOSTER CITY, Calif., June 26, 2023 (GLOBE NEWSWIRE) — Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, non-alcoholic steatohepatitis (NASH) and obesity, today announced that new preclinical data from a transgenic mouse model evaluating TERN-601, the Company’s novel oral GLP-1R agonist, were highlighted in a poster presentation at the American Diabetes Association’s 83^rd Annual Scientific Sessions, which took place from June 23-26, 2023 in San Diego.

“We are excited by these new preclinical data shared at ADA, which demonstrate the ability of TERN-601 to significantly improve glucose tolerance, suppress food intake and slow gastric emptying in transgenic mice,” said Sen Sundaram, chief executive officer at Terns. “These data are very encouraging and support our plans to initiate a Phase 1 first-in-human clinical trial in subjects with an elevated body mass index in the second half of this year, with top-line data expected in 2024.”

Humanized GLP-1R (hGLP-1R) mice were used to assess the in vivo pharmacodynamics of TERN-601. In an intraperitoneal glucose tolerance test, all TERN-601 doses reduced blood glucose in hGLP-1R mice during glucose challenge. Food intake was also recorded for 24 hours in fasted mice treated with TERN-601, with food available 15 minutes post dose. TERN-601 reduced food-intake in fasted hGLPR-1R mice. Acetaminophen (APAP) plasma levels were reduced in fasted hGLP-1R mice administered TERN-601 four hours prior to oral ingestion of APAP-glucose solution, indicating slowed gastric emptying. The full poster is available on Terns’ scientific publications website.

In addition, Terns announces that management will participate in a Fireside Chat at the Piper Sandler Inaugural Obesity Investor Day and will host a webinar to review Terns’ obesity franchise, including the TERN-601 program and additional development efforts underway in obesity.

Piper Sandler Inaugural Obesity Investor Day:
Date and Time: June 28, 2023 at 11:30 a.m. ET
The Piper Sandler event webcast link is available from Piper Sandler and will require registration.

Terns Obesity Franchise Webinar:
Date and Time: June 29, 2023 at 11:00 a.m. ET
Webinar Link: Register

A webcast of Terns’ obesity event will be available on the investor relations page of the Terns Pharmaceuticals website at http://ir.ternspharma.com. A replay of the webcast will be archived on Terns’ website for at least 30 days following the presentation.

About Terns Pharmaceuticals
Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, NASH and obesity. Terns’ pipeline includes two clinical stage development programs including an allosteric BCR-ABL inhibitor and a THR-β agonist (+/- an FXR agonist), and preclinical small-molecule GLP-1 receptor agonist and GIPR modulator programs. For more information, please visit: www.ternspharma.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements about Terns Pharmaceuticals, Inc. (the “Company,” “we,” “us,” or “our”) within the meaning of the federal securities laws, including those related to the Company’s expectations of timing and potential results of the clinical trials and other development activities of the Company and its partners; the potential indications to be targeted by the Company with its small-molecule product candidates; the therapeutic potential of the Company’s small-molecule product candidates; the potential for the mechanisms of action of the Company’s product candidates to be therapeutic targets for their targeted indications; the potential utility and progress of the Company’s product candidates in their targeted indications, including the clinical utility of the data from and the endpoints used in the Company’s clinical trials; the Company’s clinical development plans and activities, including the results of any interactions with regulatory authorities on its programs; the Company’s expectations regarding the profile of its product candidates, including efficacy, tolerability, safety, metabolic stability and pharmacokinetic profile and potential differentiation as compared to other products or product candidates; the Company’s plans for and ability to continue to execute on its current development strategy, including potential combinations involving multiple product candidates; the impact of new legislation and regulatory developments on the Company’s plans for its product candidates, such as the effect of the Inflation Reduction Act of 2022; and the Company’s expectations with regard to its cash runway and sufficiency of its cash resources. All statements other than statements of historical facts contained in this press release, including statements regarding the Company’s strategy, future financial condition, future operations, future trial results, projected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. The Company has based these forward-looking statements largely on its current expectations, estimates, forecasts and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events. These statements are subject to risks and uncertainties that could cause the actual results and the implementation of the Company’s plans to vary materially, including the risks associated with the initiation, cost, timing, progress, results and utility of the Company’s current and future research and development activities and preclinical studies and clinical trials. These risks are not exhaustive. For a detailed discussion of the risk factors that could affect the Company’s actual results, please refer to the risk factors identified in the Company’s SEC reports, including but not limited to its Annual Report on Form 10-K for the year ended December 31, 2022. Except as required by law, the Company undertakes no obligation to update publicly any forward-looking statements for any reason.

Contacts for Terns

Investors
Justin Ng
[email protected]

Media
Jenna Urban
Berry & Company Public Relations
[email protected]