WilmerHale advised Terns Pharmaceuticals, Inc. (Nasdaq: TERN), a clinical-stage oncology company, on its underwritten public offering of 18,687,500 shares of common stock, including 2,437,500 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares, at a public offering price of $40.00 per share, before underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Terns, totaled $747.5 million. The company intends to use the net proceeds to fund research, clinical trials, development and manufacturing of key product candidates, including TERN-701, and initial activities in preparation for the potential future commercial launch of TERN-701, and for working capital and general corporate purposes.

The WilmerHale team advising Terns was led by Brian Johnson and included Kevin Cheng, Tim Kolankowski and Heidi Treiber.