![Obesity, medical concept.](https://static.seekingalpha.com/cdn/s3/uploads/getty_images/2008490236/image_2008490236.jpg?io=getty-c-w750)
![Obesity, medical concept.](https://static.seekingalpha.com/cdn/s3/uploads/getty_images/2008490236/image_2008490236.jpg?io=getty-c-w750)
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Terns Pharmaceuticals (Nasdaq:Tern) announced late Thursday that it plans to report topline data from a Phase 1 trial of its oral GLP-1 drug TERN-601 in the treatment of obesity in the second half of 2024.
Biotech companies also have high expectations The company announced that it will release interim data from a phase 1 trial of its drug TERN-701 in the treatment of chronic myeloid leukemia (CML) in the second half of 2024.
Terns are Release of 4th quarter financial report, lived up to street expectations. The company added that it had $263 million in cash and equivalents at the end of 2023, sufficient to fund operations through 2026.
Terns is one of several biopharmaceutical companies working on GLP-1 drugs for weight loss. Other companies include AstraZeneca (AZN), Amgen (AMGN), Pfizer (PFE), Ultimune (alternative), Viking Therapeutics (VKTX) and structural therapy (G-PCR).
The GLP-1 market is currently dominated by Eli Lilly (Lily) and Novo Nordisk (NVO).