 FOSTER CITY, Calif., Feb. 10, 2021 GLOBE NEWSWIRE -- Terns Pharmaceuticals, Inc. Terns or the Company Nasdaq: TERN, 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, today announced the closing of the Companys initial public offering of 7,500,000 shares of common stock at a public offering price of 17.00 per share, along with the exercise in full by the underwriters of their option to purchase an additional 1,125,000 shares of common stock. The exercise of the underwriters option to purchase additional shares is expected to close on February 12, 2021, subject to customary closing conditions. After giving effect to the full exercise by the underwriters of their option to purchase additional shares, aggregate gross proceeds to the Company are expected to be approximately 146.6 million, before underwriting discounts, commissions and estimated offering expenses. All of the shares in the offering were offered by Terns. Terns common stock is listed on the Nasdaq Global Select Market under the ticker symbol TERN. 