SEC Comment Letter 0000000000-23-006657 to Terns Pharmaceuticals, Inc. (TERN)
Terns Pharmaceuticals, Inc.
Date: June 22, 2023 · CIK: 0001831363 · Accession: 0000000000-23-006657
AI Filing Summary & Sentiment
File numbers found in text: 001-039926
Letter
United States securities and exchange commission logo June 22, 2023 Mark Vignola Chief Financial Officer Terns Pharmaceuticals, Inc. 1065 East Hillsdale Blvd Suite 100 Foster City, CA 94404 Re:Terns Pharmaceuticals, Inc. Form 10-K for the Year Ended December 31, 2022 File No. 001-039926 Dear Mark Vignola: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to the comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to the comment, we may have additional comments. Management's Discussion and Analysis of Financial Condition and Results of Operations Results of Operations Research and Development Expenses, page 127 1.Please provide proposed disclosures to be included in future filings to separately quantify your research and development expenses for each of your most significant drug candidate project/programs. To the extent you do not track your research and development cost by drug candidate project/program, please disclose this fact, and provide separate quantification of unallocated expenses by nature or type. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff.
FirstName LastNameMark Vignola Comapany NameTerns Pharmaceuticals, Inc. June 22, 2023 Page 2 FirstName LastName Mark Vignola Terns Pharmaceuticals, Inc. June 22, 2023 Page 2 You may contact Christine Torney at 202-551-3652 or Kevin Vaughn at 202-551-3494 with any questions. Sincerely, Division of Corporation Finance Office of Life Sciences
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United States securities and exchange commission logo
June 22, 2023
Mark Vignola
Chief Financial Officer
Terns Pharmaceuticals, Inc.
1065 East Hillsdale Blvd
Suite 100
Foster City, CA 94404
Re:Terns Pharmaceuticals, Inc.
Form 10-K for the Year Ended December 31, 2022
File No. 001-039926
Dear Mark Vignola:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comment. In our comment, we may ask you to provide us
with information so we may better understand your disclosure.
Please respond to the comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to the comment, we may have additional comments.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Results of Operations
Research and Development Expenses, page 127
1.Please provide proposed disclosures to be included in future filings to separately quantify
your research and development expenses for each of your most significant drug
candidate project/programs. To the extent you do not track your research and development
cost by drug candidate project/program, please disclose this fact, and provide separate
quantification of unallocated expenses by nature or type.
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
FirstName LastNameMark Vignola
Comapany NameTerns Pharmaceuticals, Inc.
June 22, 2023 Page 2
FirstName LastName
Mark Vignola
Terns Pharmaceuticals, Inc.
June 22, 2023
Page 2
You may contact Christine Torney at 202-551-3652 or Kevin Vaughn at 202-551-3494
with any questions.
Sincerely,
Division of Corporation Finance
Office of Life Sciences