Business
Merck Completes Acquisition of Terns Pharmaceuticals, Inc.
RAHWAY, N.J., May 05, 2026--Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced the successful completion of the acquisition of Terns Pharmaceuticals, Inc. ("Terns") (Nasdaq: TERN).
About this update from Terns Pharmaceuticals, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":217,"url":"https://media.zenfs.com/en/business-wire.com/13fde7b65837c65378e50589b31edf0f"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/kpGJdj_u_Cmfb.cwMfJLfg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQzNA--/https://media.zenfs.com/en/business-wire.com/13fde7b65837c65378e50589b31edf0f","width":480,"height":217}},"lazy":false},{"type":"text","content":"Addition of TERN-701, a novel investigational oral allosteric BCR::ABL1 tyrosine kinase inhibitor, further diversifies Merck’s oncology pipeline","length":144,"tagName":"p","attribs":{}},{"type":"text","content":"RAHWAY, N.J., May 05, 2026--(BUSINESS WIRE)--Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced the successful completion of the acquisition of Terns Pharmaceuticals, Inc. ("Terns") (Nasdaq: TERN).","length":245,"tagName":"p"},{"type":"text","content":""The Terns acquisition reflects Merck’s continued focus on science‑driven, value‑enhancing business development aimed at bringing meaningful innovation to patients," said Robert M. Davis, chairman and chief executive officer, Merck. "We believe TERN‑701 has the potential to become a differentiated treatment option for certain patients with chronic myeloid leukemia, and we look forward to working with the Terns team to advance its clinical development."","length":476,"tagName":"p"},{"type":"text","content":"TERN-701 was recently granted Breakthrough Therapy Designation (BTD) by the U.S. Food and Drug Administration (FDA) for the treatment of adults with Philadelphia chromosome-positive chronic myeloid leukemia (CML) in the chronic phase without the T315I mutation previously treated with two or more tyrosine kinase inhibitors (TKIs). The BTD designation for TERN-701 is based on data from the ongoing Phase 1/2 CARDINAL trial (NCT06163430).","length":438,"tagName":"p"},{"type":"text","content":"Transaction details","length":19,"tagName":"p"},{"type":"text","content":"Merck completed the cash tender offer, through a subsidiary, for all the outstanding shares of common stock of Terns at a purchase price of $53.00 per share, without interest and subject to any applicable tax withholding. As of the tender offer expiration at...