Terns Pharmaceuticals shares are trading lower. The company announced new preclinical data for the TERN-601 program in obesity at the ADA's 83rd Annual Scientific Sessions.
Portfolio Pulse from Benzinga Newsdesk
Terns Pharmaceuticals announced new preclinical data for the TERN-601 program in obesity at the ADA's 83rd Annual Scientific Sessions. Following the announcement, the company's shares are trading lower.
June 27, 2023 | 4:24 pm
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NEGATIVE IMPACT
Terns Pharmaceuticals' stock price is trading lower following the announcement of new preclinical data for the TERN-601 program in obesity.
The announcement of new preclinical data typically indicates progress in a company's research and development efforts. However, in this case, the market reaction has been negative, possibly due to investor concerns about the data or the potential market for the TERN-601 program. This has led to a decrease in Terns Pharmaceuticals' stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100