Terns Pharmaceuticals Stock Jumps After New Leukemia Drug Data Show Strong Patient Responses

Terns Pharmaceuticals (TERN) shares rose 12% on Monday after the company reported additional positive Phase 1 results for its investigational chronic myeloid leukemia (CML) therapy TERN-701 at the 67th American Society of Hematology Annual Meeting.

The biotech company said updated data from the ongoing CARDINAL trial showed a 64% major molecular response (MMR) rate by 24 weeks across all efficacy-evaluable patients, with a 75% MMR rate among those receiving doses above 320 mg once daily. 

The company said the treatment continued to show an encouraging safety and tolerability profile with longer exposure.

CEO Amy Burroughs said the higher MMR rate at doses of 320 mg and 500 mg supports selection of those levels as recommended Phase 2 doses. She said study enrollment has surpassed 85 patients, enabling further progression into dose-expansion and pivotal studies.

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