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Merck to Acquire Terns Pharmaceuticals, Inc., Expanding Its Hematology Pipeline With TERN-701, a Novel Candidate for Chronic Myeloid Leukemia (CML)
Terns’ lead candidate TERN-701 is an investigational oral allosteric BCR::ABL1 tyrosine kinase inhibitor currently in Phase 1/2 development for certain patients with CML Merck to hold investor call at 8 a.m. EDT today RAHWAY, N.J. and FOSTER CITY, Calif., March 25, 2026 (GLOBE NEWSWIRE) -- Merck (NYSE: MRK), known as MSD outside of the United States and Canada, and Terns Pharmaceuticals, Inc. (“Terns”) (Nasdaq: TERN), a clinical-stage oncology company, today announced that the companies have ent
About this update from Merck & Company, Inc.
[{"type":"image","alt":"Terns Pharmaceuticals, Inc.","displaySize":"","headline":null,"caption":"Terns Pharmaceuticals, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":61,"url":"https://media.zenfs.com/en/globenewswire.com/c88147929d4056469d083b437f21cbbe"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/Wrw174RrGmxKRHpik6HSqw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTg1/https://media.zenfs.com/en/globenewswire.com/c88147929d4056469d083b437f21cbbe","width":300,"height":61}},"lazy":false},{"type":"text","content":"Terns’ lead candidate TERN-701 is an investigational oral allosteric BCR::ABL1 tyrosine kinase inhibitor currently in Phase 1/2 development for certain patients with CML","length":174,"tagName":"p"},{"type":"text","content":"Merck to hold investor call at 8 a.m. EDT today","length":47,"tagName":"p"},{"type":"text","content":"RAHWAY, N.J. and FOSTER CITY, Calif., March 25, 2026 (GLOBE NEWSWIRE) -- Merck (NYSE: MRK), known as MSD outside of the United States and Canada, and Terns Pharmaceuticals, Inc. (“Terns”) (Nasdaq: TERN), a clinical-stage oncology company, today announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Terns for $53.00 per share in cash for an approximate equity value of $6.7 billion. This equates to approximately $5.7 billion net of acquired cash and represents an approximate premium of 31% to the 60-day and 42% to the 90-day volume-weighted average stock price on March 24, 2026.","length":652,"tagName":"p"},{"type":"text","content":"“The acquisition of Terns builds on our growing presence in hematology with TERN-701, a potential best-in-class candidate for the treatment of certain patients with chronic myeloid leukemia,” said Robert M. Davis, chairman and chief executive officer, Merck. “This transaction further diversifies and strengthens our position in oncology as we continue to look for opportunities to broaden our portfolio into other therapeutic areas.”","length":434,"tagName":"p"},{"type":"text","content":"Terns’ lead candidate, TERN-701, is a novel investigational oral allosteric BCR::ABL1 tyrosine kinase inhibitor (TKI) currently being evaluated in the Phase 1/2 CARDINAL trial (NCT06163430) for patients with Philadelphia chromosome-positive (Ph+), chronic phase chronic myeloid leukemia (CML) previously trea...