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Terns Pharmaceuticals

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Terns Pharmaceuticals Reports Inducement Grant to New Employee Under Nasdaq Listing Rule 5635(C)(4)

October 07, 2024 | Last Trade: US$6.55 0.23 -3.39

FOSTER CITY, Calif., Oct. 07, 2024 (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 and obesity, today announced that it has granted as of October 1, 2024 an equity inducement award to a new employee under the terms of the 2022 Employment Inducement Award Plan, as amended (the “Inducement Plan”). The equity award was approved by the Compensation Committee of the Company’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4) and was made as a material inducement to the employee’s acceptance of employment with Terns.

The Company granted options to purchase 20,000 shares of Terns common stock to the new employee. The options have a 10-year term and an exercise price per share equal to $8.10, which was the closing price of Terns’ common stock on October 1, 2024, the date of grant. The options vest over four years, subject to the employee’s continued service through the applicable vesting dates.

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 and obesity. Terns’ pipeline contains three clinical stage development programs including an allosteric BCR-ABL inhibitor, a small-molecule GLP-1 receptor agonist, a THR-β agonist, and a preclinical GIPR modulator discovery effort, prioritizing a GIPR antagonist nomination candidate. For more information, please visit: www.ternspharma.com.

Contacts for Terns

Investors
Justin Ng
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Media
Jenna Urban
Berry & Company Public Relations
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BUY $TERN

Buy $TERN on Charles Schwab

Buy $TERN on ETrade

Buy $TERN on Public.com

Buy $TERN on Fidelity

Buy $TERN on  Robinhood

Buy $TERN on Webull

Terns Pharmaceuticals

Terns Pharmaceuticals is a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity. Terns’ pipeline contains three clinical stage development programs including GLP-1 receptor...

CLICK TO LEARN MORE
Terns Pharmaceuticals

Terns Pharmaceuticals is a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity. Terns’ pipeline contains three clinical stage development programs including GLP-1 receptor...

CLICK TO LEARN MORE

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