DUET

Fenix 360 Pte Ltd. To Go Public Through Merger With DUET Acquisition Corp. to Create a Global Social Media Platform

Retrieved on: 
Tuesday, November 28, 2023
Social media, Acquisition, Transaction, DUET, Combination

NEW YORK, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Fenix 360 Pte Ltd (“FENIX360”), a global social media company incorporated in Singapore that is designed to provide artists and creators with enhanced compensation, tools and control, and DUET Acquisition Corp. (NASDAQ: DUET) (“DUET”), a special purpose acquisition company incorporated in Delaware, announced today that that they have entered into a business combination agreement (the “Business Combination Agreement”), pursuant to which DUET will acquire 100% of the outstanding equity interests of FENIX360 (the “Transaction”).

Key Points: 
  • NEW YORK, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Fenix 360 Pte Ltd (“FENIX360”), a global social media company incorporated in Singapore that is designed to provide artists and creators with enhanced compensation, tools and control, and DUET Acquisition Corp. (NASDAQ: DUET) (“DUET”), a special purpose acquisition company incorporated in Delaware, announced today that that they have entered into a business combination agreement (the “Business Combination Agreement”), pursuant to which DUET will acquire 100% of the outstanding equity interests of FENIX360 (the “Transaction”).
  • The Transaction is expected to be completed in the first half of 2024, subject to regulatory approvals and other customary closing conditions.
  • The Transaction values FENIX360 at a $610 million enterprise value.

Terns Pharmaceuticals Reports Third Quarter 2023 Financial Results and Corporate Updates

Retrieved on: 
Tuesday, November 14, 2023
JD, THR, Research, Safety, Chemistry, Acute leukemia, IND, PD, FXR, Clinical trial, SAD, Overweight, Fatty liver disease, Administration, Patient, DSM-IV codes, Tern, Week, Part, FDA, Obesity, Pharmacokinetics, BCR, Bangladesh Technical Education Board, Houston Methodist Hospital, Investigational New Drug, Non-alcoholic fatty liver disease, BCR-ABL, MD, CML, R, Research and development, NASH, DUET, Pharmaceutical industry, Medical imaging, Cryptocurrency

FOSTER CITY, Calif., Nov. 14, 2023 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, obesity and non-alcoholic steatohepatitis (NASH), today reported financial results for the quarter ended September 30, 2023 and provided corporate updates.

Key Points: 
  • Based on its current operating plan, Terns expects these funds will be sufficient to support its planned operating expenses into 2026.
  • Research and Development (R&D) Expenses: R&D expenses were $14.8 million for the quarter ended September 30, 2023, as compared with $12.2 million for the quarter ended September 30, 2022.
  • General and Administrative (G&A) Expenses: G&A expenses were $18.4 million for the quarter ended September 30, 2023, as compared with $5.1 million for the quarter ended September 30, 2022.
  • Net Loss: Net loss was $29.8 million for the quarter ended September 30, 2023, as compared with $16.8 million for the quarter ended September 30, 2022.

Terns Pharmaceuticals Presents Late-Breaking Data from Phase 2a DUET Trial of THR-β Agonist TERN-501 in NASH at AASLD The Liver Meeting® 2023

Retrieved on: 
Monday, November 13, 2023
THR, Hepatology, Safety, Magnetic resonance imaging, Steatosis, AASLD, Liver, FXR, Clinical trial, Fatty liver disease, CT1, Patient, Week, Obesity, Houston Methodist Hospital, Non-alcoholic fatty liver disease, Bangladesh Technical Education Board, SHBG, MRI, Biomarker, NASH, DUET, Fibrosis, Pharmaceutical industry, Boston

FOSTER CITY, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, obesity and non-alcoholic steatohepatitis (NASH), today announced the late-breaking oral presentation of top-line data from its Phase 2a DUET clinical trial of TERN-501, an investigational orally administered thyroid hormone receptor-β (THR-β) agonist for the treatment of NASH. TERN-501 was evaluated alone and in combination with the Company’s liver-distributed farnesoid X receptor (FXR) agonist TERN-101. These data will be presented at The Liver Meeting®, the annual meeting of the American Association for the Study of Liver Diseases (AASLD), on Monday, November 13 at 2:00 p.m. ET in Boston, Massachusetts.

Key Points: 
  • TERN-501 was evaluated alone and in combination with the Company’s liver-distributed farnesoid X receptor (FXR) agonist TERN-101.
  • These data will be presented at The Liver Meeting®, the annual meeting of the American Association for the Study of Liver Diseases (AASLD), on Monday, November 13 at 2:00 p.m.
  • “These top-line data of TERN-501 are encouraging, with significant reductions in key biomarkers including liver fat content, MRI-PDFF, and cT1, a marker of fibro-inflammation.
  • Terns will host an investor reception event during The Liver Meeting in Boston on Monday, November 13 at 4:00 p.m.

Terns Achieves Primary Endpoint and All Secondary Endpoints in Phase 2a DUET Trial of THR-β Agonist TERN-501 in NASH

Retrieved on: 
Tuesday, August 8, 2023
FXR, Houston Methodist Hospital, Therapy, NASH, Week, Steatohepatitis, Triglyceride, Liver disease, CT1, SHBG, TERN, Bangladesh Technical Education Board, Medicine, Plasma, Fibrosis, Patient, DUET, LDL, Liver, Apolipoprotein B, FDA, GI, Safety, Medical imaging, Pharmaceutical industry

FOSTER CITY, Calif., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, non-alcoholic steatohepatitis (NASH) and obesity, today reported positive top-line results from the Phase 2a DUET clinical trial of TERN-501, an orally-administered thyroid hormone receptor-beta (THR-β) agonist, administered as a monotherapy or in combination with TERN-101, a liver-distributed farnesoid X receptor (FXR) agonist, for the treatment of NASH.

Key Points: 
  • TERN-501 monotherapy demonstrated improvement or trends toward improvement in plasma lipid parameters, such as LDL-C, HDL-C, triglycerides, and apolipoprotein B (ApoB).
  • TERN-501 was generally well tolerated, with adverse events (AEs) being generally mild and evenly distributed across all arms, including placebo.
  • TERN-101 safety and tolerability findings were generally consistent with the Phase 2a LIFT trial.
  • A replay of the call will also be available on the Events page of the Investor Relations section of the Terns website for 30 days.

Terns Pharmaceuticals Reports Second Quarter 2023 Financial Results and Corporate Updates

Retrieved on: 
Tuesday, August 8, 2023
FXR, Obesity, NASH, CML, Week, Cohort, GIPR, American Society of Clinical Oncology, Clinical trial, BCR-ABL, Research, Acute leukemia, THR, ASCO, DSM-IV codes, Administration, Team Impulse, DUET, American Diabetes Association, Fatty liver disease, Research and development, R, BMI, FDA, ADA, Society, Pharmaceutical industry, Cryptocurrency, Tern

FOSTER CITY, Calif., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, non-alcoholic steatohepatitis (NASH) and obesity, today reported financial results for the quarter ended June 30, 2023 and corporate updates.

Key Points: 
  • Based on its current operating plan, Terns expects these funds will be sufficient to support its planned operating expenses into 2026.
  • Research and Development (R&D) Expenses: R&D expenses were $14.2 million for the quarter ended June 30, 2023, as compared with $8.7 million for the quarter ended June 30, 2022.
  • General and Administrative (G&A) Expenses: G&A expenses were $7.0 million for the quarter ended June 30, 2023, as compared with $5.4 million for the quarter ended June 30, 2022.
  • Net Loss: Net loss was $17.9 million for the quarter ended June 30, 2023, as compared with $13.9 million for the quarter ended June 30, 2022.

DUET Acquisition Corp. Intends to Combine with Fenix 360 Pte Ltd., to Create a Global Social Media Platform

Retrieved on: 
Thursday, July 6, 2023
Advertising, Business, Business analyst, Confidentiality, LOI, Acquisition, DUET, Social media, Sales

DUET expects to announce additional details regarding the Proposed Business Combination when a Definitive Agreement is executed.

Key Points: 
  • DUET expects to announce additional details regarding the Proposed Business Combination when a Definitive Agreement is executed.
  • “The successful acquisition of Fenix will give DUET an attractive opportunity to transform the creative & media space and tap into digital advertising and digital commerce market opportunities.
  • The disruptive potential of Fenix to become a leader in the creative and media space, for artists and fans alike, is indeed exciting.” said Dharmendra Magasvaran, Co-Chief Executive Officer of DUET.
  • Our focus is to greatly enhance the income, as well as the reach and control of artists while providing a more engaging platform for fans and users.”

DUET Acquisition Corp. Announces Charter and Trust Agreement Amendments and Extension of Deadline to Complete a Business Combination to May 24, 2023.

Retrieved on: 
Monday, April 24, 2023
Transfer, Charter Amendment One (Gainesville, Florida), Trust, Accounting, Continental, Acquisition, Interest on Lawyer Trust Accounts, DUET, Security (finance)

Prior to the amendments, DUET could obtain one 3-month extension by depositing $862,500 into its Trust Account by the deadline applicable prior to the extension.

Key Points: 
  • Prior to the amendments, DUET could obtain one 3-month extension by depositing $862,500 into its Trust Account by the deadline applicable prior to the extension.
  • The Charter Amendment triggered a right of DUET’s public stockholders to demand the redemption of their public shares out of funds held in the Trust Account.
  • In connection with the amendments, DUET notified Continental that it was exercising its right to obtain the first extension and deposited $175,000 into the Trust Account.
  • The Charter Amendment, Trust Agreement Amendment, and the first extension described above will provide DUET with additional time to complete a business combination.

DUET Acquisition Corp. Announces Termination of Merger Agreement with AnyTech365.

Retrieved on: 
Friday, April 7, 2023
Acquisition, DUET, Retail

Kuala Lumpur, Malaysia, April 06, 2023 (GLOBE NEWSWIRE) -- DUET Acquisition Corp. (NASDAQ: DUET, DUETW, DUETU) (“DUET”), a special purpose acquisition company focused on disruptive high-growth, middle market technology companies, announced today that its previously announced business combination agreement and plan of merger with Anteco Systems, S.L and certain other parties has been terminated by DUET by written notice to the other parties thereto.

Key Points: 
  • Kuala Lumpur, Malaysia, April 06, 2023 (GLOBE NEWSWIRE) -- DUET Acquisition Corp. (NASDAQ: DUET, DUETW, DUETU) (“DUET”), a special purpose acquisition company focused on disruptive high-growth, middle market technology companies, announced today that its previously announced business combination agreement and plan of merger with Anteco Systems, S.L and certain other parties has been terminated by DUET by written notice to the other parties thereto.
  • As a result, DUET will seek an alternative business combination.

Terns Pharmaceuticals Provides Program Updates and Announces Participation at Upcoming March Investor Conferences

Retrieved on: 
Thursday, March 2, 2023
GIPR, Safety, DUET, MRI, Toxicity, Clinical trial, Research, Type, Fatty liver disease, BCR, CT1, Pharmacokinetics, NASH, Obesity, CML, Team Impulse, Pharmaceutical industry

FOSTER CITY, Calif., March 02, 2023 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, non-alcoholic steatohepatitis (NASH) and obesity, today announced that management will participate in three upcoming investor conferences in March 2023 and provided program updates across the Company’s development programs as outlined below.

Key Points: 
  • “We are delighted to have completed enrollment in the Phase 2a DUET trial of TERN-501 and express our gratitude to the people participating in this trial.
  • We would also like to recognize the excellence of the study investigators and the Terns team in recruiting the trial.
  • This milestone takes us one step closer to bringing TERN-501, our THR-β agonist with potentially class-leading efficacy, safety and tolerability profiles, to people living with NASH.
  • Members of Terns’ senior leadership team will participate at the following upcoming investor conferences in March:

Terns Pharmaceuticals to Highlight 2023 Priorities and Clinical Milestones at the 41st Annual J.P. Morgan Healthcare Conference

Retrieved on: 
Thursday, January 5, 2023
Cancer, Clinical trial, Joint, Wind, MRI, Fatty liver disease, Pharmacokinetics, GIPR, CML, ALL, NASH, THR, Inflation, Patient, Discovery, DUET, Safety, CT1, Webcast, Obesity, Conference, IRA, FXR, Pharmaceutical industry, Fine chemical, Medical imaging

FOSTER CITY, Calif., Jan. 05, 2023 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology, obesity and non-alcoholic steatohepatitis (NASH), today announced that management will provide an update on its pipeline and strategic priorities for 2023 during the Company’s presentation at the 41st Annual J.P. Morgan Healthcare Conference on January 12, 2023 at 9:00am PT.

Key Points: 
  • “2022 was a transformative year for Terns as we made important steps forward in our commitment to provide better, new medicines to people battling diseases with significant unmet medical needs.
  • “We expect 2023 to be an important year for Terns as we assess key inflection points for our clinical programs.”
    “Prior to our two recent financings, our cash runway supported three key clinical readouts from our three lead programs into 2025.
  • As such, it pains me to have to forsake my fellow cancer fighters in the United States because of economic policies that stifle medical innovation.
  • A replay of the webcast will be archived on Terns’ website for 30 days following the presentation.