Terns Pharmaceuticals (TERN) IPO Opens Modestly Lower

Today's IPO for Terns Pharmaceuticals, Inc. (NASDAQ: TERN) opened for trading at $16.95 after pricing 7,500,000 shares of common stock at a public offering price of $17.00 per share.

J.P. Morgan, Goldman Sachs & Co. LLC and Cowen are acting as joint book-running managers for the offering.

Terns Pharmaceuticals is a clinical-stage biopharmaceutical company developing a portfolio of small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis, or NASH, and other chronic liver diseases.

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