Terns Announces $125M Raise Driven by Promising Oral GLP-1 Data
Terns Announces $125M Raise Driven by Promising Oral GLP-1 Data
Terns Pharmaceuticals recently announced a $125 million public offering in response to encouraging Phase I data regarding its oral GLP-1 candidate, TERN-601. This candidate might rival established names like Eli Lilly, Pfizer, and Roche in the obesity treatment landscape.
Phase I Data: Promising Results
During the trial, participants using TERN-601 lost a mean weight of 4.9% after 28 days compared to placebo. This early-stage efficacy has garnered the attention of analysts, with Jefferies describing the results as surprisingly good. In comparison, Lilly's and Pfizer's candidates produced weight losses of 3.9% and 5.2%, respectively.
$125 Million Offering Details
- Offering of $125 million in common stock
- Option for an additional $18.75 million within 30 days
- Funds to support Phase II trials and other company initiatives
Market Outlook
The weight loss market is predicted to expand significantly, potentially reaching between $100 billion and $160 billion over the next decade. Terns' focus on advancing its GLP-1 drug sets the stage for competitive interactions with giants like Roche, which is developing CT-966, another strong contender in the sector.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.