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Groundbreaking Leukemia Treatment Emerges: TERN-701 Poised to Redefine CML Therapy

Terns Pharmaceuticals Shares Soar on Positive Clinical Data Announcement

Terns Pharmaceuticals Inc. (NASDAQ: TERN) recently experienced a significant upward movement in its stock valuation, marked by an extraordinary trading volume of 24.36 million shares, dwarfing its average volume of 1.31 million. This surge followed the company's announcement regarding upcoming data presentation for TERN-701, a drug targeting chronic myeloid leukemia (CML), at the 67th American Society of Hematology Annual Meeting and Exposition.

Unveiling the Efficacy of TERN-701 in Chronic Myeloid Leukemia

The abstract released by the American Society of Hematology (ASH) detailed findings from the ongoing CARDINAL study's dose-escalation and dose-expansion phases, evaluating TERN-701 in patients previously treated for CML. As of June 30, a total of 55 patients had been enrolled in the study. Among the 32 patients whose efficacy could be assessed, a remarkable cumulative major molecular response (MMR) rate of 75% was observed within 24 weeks. This included 64% achieving MMR and 100% sustaining MMR, underscoring the drug's profound impact on molecular response, a critical therapeutic objective.

CEO Emphasizes TERN-701's Transformative Potential

Amy Burroughs, CEO of Terns, expressed strong confidence in TERN-701's capabilities, stating, \"These findings further solidify TERN-701's promise as an innovative, paradigm-shifting treatment for CML.\" She highlighted the unprecedented 24-week MMR achievement rate, noting it is at least double the rates reported in comparable Phase 1 studies of other CML treatments, whether approved or still under development. Furthermore, the drug demonstrated a favorable safety and tolerability profile across all tested dosages.

William Blair Elevates Terns to \"Outperform\" Amidst Promising Results

In response to the compelling clinical trial data, William Blair upgraded Terns Pharmaceuticals from Market Perform to Outperform. Analyst Andy Hsieh lauded the efficacy outcomes, particularly the impressive 64% MMR achievement rate, as the most optimistic scenario envisioned. Hsieh articulated his belief that TERN-701 possesses the capacity to fundamentally alter the competitive landscape for CML treatments.

TERN-701 Poised to Challenge Market Dominance

With a larger patient cohort and extended follow-up, TERN-701 is anticipated to emerge as a significant contender against established market players, including Novartis AG's (NYSE: NVS) Scemblix (asciminib). The potential for TERN-701 to disrupt the current treatment paradigm signals a new era for CML patients and investors alike, as Terns' stock witnessed an 88.67% increase, trading at $15.58 during Monday's last check.