Terns Pharmaceuticals Inc at TD Cowen Oncology Innovation Summit (Virtual) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ritu Baral - TD Cowen - Analyst : So let's move to that. 701 for third line -- STAMP inhibitor for third-line therapy in CML. Sent, as you look at it, what's the need in third-line CML right now given so many approved TKIs?

Question: Ritu Baral - TD Cowen - Analyst : As the market -- as the patient population matures and sort of lives through, and potentially, is treated through potential newly emergent resistance or inevitable resistance, is that correct?

Question: Ritu Baral - TD Cowen - Analyst : I see. Got it.

Question: Ritu Baral - TD Cowen - Analyst : And how does 701 compare to Novartis's asciminib? Have you released any either differential binding data or activity data? Is there any suggestion in studies to date, preclinical or otherwise, differential safety or tolerability? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 31, 2023 / 7:00PM, TERN.OQ - Terns Pharmaceuticals Inc at TD Cowen Oncology Innovation Summit (Virtual)

Question: Ritu Baral - TD Cowen - Analyst : Got it. And then we'll get to that, the Hansoh study in China in just a second. But just going back to the treatment paradigm, where do you think in the current paradigm does Scemblix actually fit sort of real world? When we say third line, just given the tolerability issues, the active site TKIs, does that really mean third drug used right now? And if not, what's the most common sequence that you're finding?

Question: Ritu Baral - TD Cowen - Analyst : And do you see 701 as being able to go wherever asciminib goes? Wherever Novartis takes this? Or I mean, could you go even further, either based on commercial strategy maybe, not just clinical profile?

Question: Ritu Baral - TD Cowen - Analyst : Got it. Okay. So you're planning the Phase 1 701 in CML. Can you discuss the design of your study as it stands and what the timelines for dataflow could be in general terms?

Question: Ritu Baral - TD Cowen - Analyst : Got it. So let me jump around a little bit and go to your -- the Hansoh study. I think the outline of which will be -- or the design of which will be presented at ASCO this year. As we think about the design of that study and you think right now about how your Phase 1 will be, will there be sort of overlapping aspects? Or can you use the data that Hansoh will generate to fully inform and move that program forward, if you know what I mean? Will you be able to just purely build on it? Or are there aspects that you need to or you want to sort of reiterate?

Question: Ritu Baral - TD Cowen - Analyst : Yes, or at least part of it.

Question: Ritu Baral - TD Cowen - Analyst : Got it. Great. And then just going back to what you hope to see from your Phase 1 study, what do you need to see for next steps in those dose expansion -- to set up and push the button on those dose expansion cohorts?

Question: Ritu Baral - TD Cowen - Analyst : Got it. Okay. That's great. I want to round back to something you said earlier in the first-line opportunity in CML for the class. Can you elaborate on that? And what do you think its ultimate potential may be just given pricing differentials with generics and I guess payer -- potential payer understanding of price versus value versus outcomes?

Question: Ritu Baral - TD Cowen - Analyst : Okay.

Question: Ritu Baral - TD Cowen - Analyst : The data, right. But once the data is in hand, this is an obvious follow-the-bouncing-ball for payers, not likely --

Question: Ritu Baral - TD Cowen - Analyst : Got it. Combination studies, Novartis is in a combination study right now with an active site TKI with Scemblix. Is that something that you're considering for 701? What's the rationale there for that combination? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 31, 2023 / 7:00PM, TERN.OQ - Terns Pharmaceuticals Inc at TD Cowen Oncology Innovation Summit (Virtual)

Question: Ritu Baral - TD Cowen - Analyst : So as far as treatment-free remission and potential combo, is that something that can be studied ahead of an approval enough for inclusion into claims? Or is this really something that you expect would be established post-approval given the feasibility of those studies ?

Question: Ritu Baral - TD Cowen - Analyst : Great. We're at time and we'll sneak one more question in here about your comments around first line and how you're thinking about broader indications strategically, given some of the drug pricing ramifications around the IRA, which turns has had -- has publicly commented on. Sort of how do you see those impacting your strategy going forward?

Question: Ritu Baral - TD Cowen - Analyst : Yup.

Question: Ritu Baral - TD Cowen - Analyst : Great. With that, I will wrap it up for the fireside chat today. Thank you, Sent, for joining us, and thank you, everyone, for joining us for the Summit today.