Terns Pharmaceuticals $127.5 million IPO
Davis Polk advised the representatives of the several underwriters in connection with the $127.5 million initial public offering of 7,500,000 shares of common stock of Terns Pharmaceuticals, Inc. The common stock is listed on the Nasdaq Global Select Market under the symbol “TERN.”
Headquartered in Foster City, California, Terns Pharmaceuticals is a clinical-stage biopharmaceutical company developing a portfolio of small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis, or NASH, and other chronic liver diseases. Its programs are based on clinically-validated and complementary mechanisms of action to address the multiple hepatic disease processes of NASH in order to drive meaningful clinical benefits for patients.
The Davis Polk corporate team included partners Yasin Keshvargar and Alan F. Denenberg and associates Yoojin Nairn-Kim and Dylan H. Lojac. Partner David R. Bauer and associates Jay Frankel and Shuang Ci provided intellectual property advice. Counsel Kiara L. Rankin and associate Joseph M. Gerstel provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and Northern California offices.