TERN-701

.Terns Pharmaceuticals (NASDAQ: TERN) priced an upsized underwritten public offering of 16,250,000 common shares at $40.00 each, generating about $650 million in gross proceeds. Underwriters have a 30‑day option to purchase an additional 2,437,500 shares. The transaction is expected to close on December 11, 2025. Net proceeds will fund research, clinical trials, development, and manufacturing of the lead candidate TERN‑701, support initial launch activities, and cover working‑capital and general corporate needs.