- HC Wainwright initiated Terns Pharmaceutical Inc (NASDAQ:TERN) with a Neutral rating and a price target of $6.00. The biopharmaceutical company has a portfolio of small molecule programs for NASH and obesity.
- The analyst says the Phase 2a DUET study of oral TERN-501 in Noncirrhotic Adults with NASH “lacks sufficient supporting evidence,” while the rest of the company’s pipeline “is too early.”
- Terns’ recent clinical track record has been disappointing, Arce tells investors.
- The analyst notes some recent data as underwhelming, including the Phase 2a LIFT study of TERN-101 reported last year and Part 1 of the Phase 1b AVIATION study of TERN-201 10mg reported in March.
- Although top-line results from AVIATION Part 2 (20mg) are expected in 2H22, we do not expect the company to pursue further development with TERN-201, says the analyst.
- DUET study dosing started in July, and top-line data is expected in 2H23. While acknowledging the pipeline potential, more data is needed to be more constructive. The DUET readout is unlikely to represent a significant stock catalyst.
- Price Action: TERN shares are up 13.50% at $5.98 on the last check Monday.
Scilex Holding Company Provides Certain Preliminary Unaudited Financial Results For Gross And Net Sales For The One Month Ended May 2023, And Year-To-Date May 2023, Based On Currently Available Information; May 23 Net Sales $4.2M-$5.1M
Scilex Holding Company (NASDAQ:SCLX, ", Scilex", )))), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (OTC:SRNEQ), an innovative revenue-generating company focused on acquiring, developing and
