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.

Terns Pharmaceuticals shares fell to $39.62 on Dec. 18 after opening near $42.55, following weeks of sharp gains driven by positive TERN-701 trial data in chronic myeloid leukemia. The company reported a 74% major molecular response rate at 24 weeks in its Phase 1 trial and selected doses for Phase 2 expansion. Trading volume topped 2 million shares.

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.