NASDAQ:TERN News 16 December 2025 - 14 January 2026

Terns Pharmaceuticals shares fell 2.8% to $40.34 Tuesday, trading near the $40 price of its recent $705.8 million equity offering. The drop followed updated Phase 1 leukemia trial data and a sector-wide decline, with no new company announcement. The SPDR S&P Biotech ETF slipped 1.6%. Terns expects its cash to last into 2031.

December 18, 2025 — Terns Pharmaceuticals, Inc. (NASDAQ: TERN) is pulling back in Thursday trading after one of the most explosive biotech runs of the year, with investors digesting a fresh wave of clinical-trial enthusiasm, a major equity raise, and a fast-updating stack of Wall Street price targets. As of the latest available trading update on Dec. 18, 2025, TERN stock was around $39.62, after opening near $42.55 and trading in a $39.62–$42.59 intraday range, with volume above 2.0 million shares. That dip doesn’t erase the bigger story: Terns has already repriced dramatically higher in recent weeks—driven by attention around

Terns Pharmaceuticals, Inc. (NASDAQ: TERN) is still living inside one of the more dramatic biotech story arcs of 2025: eye-popping clinical data, followed immediately by a massive equity raise, followed by a flurry of analyst price-target resets. As of Tuesday, December 16, 2025, TERN shares were trading around $44. That price level matters because it sits right on top of the two big forces investors have been digesting all month: Below is a complete, publication-ready roundup of the current news, forecasts, and market analysis shaping Terns Pharmaceuticals stock as of 16.12.2025, plus the catalysts that could drive the next move.