Shots:
- Merck has entered into a definitive agreement to acquire Terns, incl. its asset TERN-701 asset, expanding its oncology pipeline
- As per the deal, Merck will acquire Terns for $53/share in cash, representing a total equity value of ~$6.7B (~$5.7B net of acquired cash); closing is expected in Q2’26
- TERN-701 is being evaluated in the P-I/II (CARDINAL) trial for pts with Ph+, chronic phase chronic myeloid leukemia previously treated with ≥1 TKI who experienced treatment failure, suboptimal response, or intolerance
Ref: Terns Pharmaceuticals | Image: Terns Pharmaceuticals | Press Release
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