Terns Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity, recently announced the closing of its underwritten public offering of 14,064,048 shares of its common stock at a public offering price of $10.50 per share, which includes 2,145,000 shares issued upon the full exercise of the underwriters’ option to purchase additional shares of common stock, and pre-funded warrants to purchase an aggregate of 2,380,952 shares of common stock at a public offering price of $10.4999 per pre-funded warrant. Aggregate gross proceeds from the offering totaled approximately $172.7 million, before deducting underwriting discounts and commissions and other offering expenses payable by Terns Pharmaceuticals.

The WilmerHale team advising Terns Pharmaceuticals was led by Brian Johnson and Ryan Brewer and included Molly Nelson, Michaela Rosen and Tim Kolankowski.