Terns Pharmaceuticals (TERN) Is Up 6.5% After Positive TERN-701 Data at Jefferies Conference – Has the Bull Case Changed?

• Terns Pharmaceuticals recently presented at the Jefferies London Healthcare Conference 2025, sharing updates on its pipeline and clinical progress, including new data for TERN-701 in chronic myeloid leukemia.
• Interim results from the Phase 1 CARDINAL trial highlighted a strong molecular response rate for TERN-701 in patients with resistant or relapsed disease, spotlighting its potential impact in this difficult-to-treat population.
• We’ll explore how the promising TERN-701 data shapes Terns Pharmaceuticals’ investment narrative amid upcoming conference presentations and industry attention.

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What Is Terns Pharmaceuticals' Investment Narrative?

Anyone considering Terns Pharmaceuticals right now is really buying into the vision that one truly effective therapy, like TERN-701, could transform the company’s financial outlook and standing in cancer drug development. The latest news from the Jefferies London Healthcare Conference, reinforced by the strong molecular response rates in the CARDINAL trial, meaningfully changes the tone around near-term catalysts. With big Phase 1 results and analyst upgrades fresh in the market, the key short-term drivers have shifted toward upcoming data at the American Society of Hematology meeting and the company’s ability to secure partnerships or licensing. The biggest sticking point remains that Terns is unprofitable, posting a net loss of over US$24 million last quarter and no revenue forecast in the next year, but the buzz around TERN-701 does put more focus, and possibly more risk, on clinical progress and future funding needs.
On the other hand, the risk of dilution or delays in late-stage trials could catch some investors off guard.

In light of our recent valuation report, it seems possible that Terns Pharmaceuticals is trading beyond its estimated value.

Exploring Other Perspectives

Throughout the Simply Wall St Community, one individual investor contributed a US$29.33 fair value estimate, showing little diversity in peer views before recent announcements. In contrast, with the share price having surged a very large amount in recent months, many are recalibrating risk, particularly around funding and future profitability. Be sure to check out a range of alternative outlooks for a fuller picture.

Explore another fair value estimate on Terns Pharmaceuticals - why the stock might be worth just $29.33!

Build Your Own Terns Pharmaceuticals Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Terns Pharmaceuticals research is our analysis highlighting 4 important warning signs that could impact your investment decision.
• Our free Terns Pharmaceuticals research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Terns Pharmaceuticals' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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