Terns Seeks Partners for Metabolic Assets Amid Oversaturated Obesity Market

 

Terns, once a rising star in obesity and the MASH space, will refocus on cancer and partner out a handful of obesity assets.

In a tale as old as biopharma, Terns Pharmaceuticals will attempt to partner off a clutch of metabolic assets amid an oversaturated market for biotechs in the obesity space.

Instead of those candidates, Terns, once a rising star in obesity and the MASH space, will refocus on cancer asset TERN-701, which is under development for chronic myeloid leukemia (CML). The shift in focus was announced as Terns reported second quarter earnings on Wednesday.

“The company seeks to partner our portfolio of potentially best-in-class metabolic assets and does not plan to invest in clinical development in metabolic disease beyond year end 2025,” CEO Amy Burroughs said.

Terns will seek to find a partner for TERN-601, which is currently being tested in the Phase II FALCON trial of patients with obesity or who are overweight. The drug is an oral, small-molecule GLP-1 receptor agonist. The goal of the mid-stage test is to show competitive weight loss at 12 weeks as well as safety and tolerability and simple dose titration.

The biotech is hoping that TERN-601 will show class-leading results when the initial 12-week results are revealed in the fourth quarter.

The biotech raised $125 million in a public offering in the fall to fund the Phase II trial for TERN-601. At the time, analysts compared the asset to Eli Lilly’s orforglipron, which has risen to the fore as one of the most anticipated next-gen obesity drugs in development.

Other assets in need of a partner at Terns include the oral glucose-dependent insulinotropic polypeptide receptor (GIPR) modulator TERN-800, which is in discovery, and TERN-501, an oral thyroid hormone receptor-beta (THR-β) agonist. The company has said it believes TERN-501 could be complementary to GLP-1 drugs to provide better metabolic and liver benefits and enhance weight loss.

Otherwise, Terns will focus on its oncology programs. TERN-701 is a next-generation allosteric BCR-ABL inhibitor that is currently being tested in a Phase I trial of patients with CML. The study is expected to read out in the fourth quarter. Previous interim data released in December 2024 showed early molecular responses in patients who were heavily pretreated, even at the lowest doses.

Terns currently has $315.4 million in cash on hand, compared to $358.2 million as of the end of December 2024. This cash is expected to run the company into 2028, according to the earnings report.

https://www.biospace.com/business/terns-seeks-partners-for-metabolic-assets-amid-oversaturated-obesity-market

HHS Axes 22 mRNA Vaccine Projects Under BARDA

 

The Department of Health and Human Services is terminating around $500 million in BARDA contracts associated with mRNA vaccine development, a move that will affect several pharma companies, including Moderna, Pfizer, Sanofi and AstraZeneca.

The Department of Health and Human Services is starting a “coordinated wind-down” of nearly two dozen mRNA vaccine research projects, affecting contracts and applications with the Biomedical Advanced Research and Development Authority that went to several pharma companies, including Pfizer, Sanofi, AstraZeneca and Moderna.

The pullback, announced in an HHS news release on Tuesday, will cover 22 “investments” associated with mRNA vaccine development “because the data show these vaccines fail to protect effectively against upper respiratory infections like COVID and flu,” Secretary Robert F. Kennedy Jr. said in a prepared statement. Together, these 22 affected projects are collectively worth “nearly $500 million,” according to HHS.

Tuesday’s wind-down effort shuts down or restructures a number of ongoing collaborations. One is between Moderna and the University of Texas Medical Branch (UTMB) with the Department of Defense (DoD). That contract was awarded in January 2023, giving Moderna and UTMB $13.5 million to use the company’s mRNA platform for a filovirus vaccine. The partners are also eligible for up to $11.1 million in option exercise payments.

AstraZeneca, which also has an existing agreement with the DoD, will likewise be affected by the BARDA terminations. A nucleic acid-based collaboration with the DoD will be restructured and HHS’ contributions to the partnership canceled, according to reporting from Fierce Biotech.

HHS is likewise rejecting or cancelling many of its pre-awarded solicitations, including proposals from Pfizer and Sanofi.

“We’re shifting that funding toward safer, broader vaccine platforms that remain effective even as viruses mutate,” Kennedy said in Tuesday’s press announcement. “Let me be absolutely clear: HHS supports safe, effective vaccines for every American who wants them. That’s why we’re moving beyond the limitations of mRNA and investing in better solutions.”

It is not immediately clear what these new alternative vaccine solutions are, though the HHS release on Tuesday named “whole-virus vaccines” as one such platform with “stronger safety records and transparent clinical and manufacturing data practices.”

https://www.biospace.com/policy/rfk-jr-axes-22-mrna-vaccine-projects-under-barda

Colbert shows Illinois Gov. JB Pritzker ‘crazy’ gerrymandering in his state amid Texas controversy

  Lame-duck CBS late-night host Stephen Colbert showed Democratic Illinois Gov. JB Pritzker just how gerrymandered the Land of Lincoln is after dozens of Texas Dem legislators stalled redistricting in their own state by decamping to Pritzker’s domain.

The face of “The Late Show” displayed a congressional map of Illinois during Pritzker’s appearance Tuesday night, highlighting one district that he said looked just like “the stinger on a scorpion.”

“If you are considering doing a little more redrawing in Illinois, you already have some crazy districts in Illinois,” Colbert told the governor.

5

“If you are considering doing a little more redrawing in Illinois, you already have some crazy districts in Illinois,” Colbert said.The Late Show with Stephen Colbert

“Take a look at this. Look at [District] 17 here. It does that, then it comes up here and it sneaks around there and goes all the way up here, and then goes right over there like that. And look at this one, kind of goes whoop up there.”

Pritzker had earlier doubled down on talk of further redrawing lines to benefit Democratic congressional candidates.

“It’s possible,” the rumored 2028 presidential contender had said when asked whether Illinois would answer Texas’ redistricting tit for tat.

“As I’ve said, everything’s on the table,” Pritzker added. “Look, we’ve got to fight fire with fire. They’ve frankly tossed the rulebook out. And they’re just acting in an unconstitutional fashion.”

Redistricting, which typically occurs every 10 years after a census is released, allows state legislatures or independent commissions to redraw congressional boundaries that determine the voting groups that will elect representatives to the US House.

Some states — including Texas, Pennsylvania and North Carolina — have convened special sessions before the decennial population count in an attempt to draw up new maps, but those have led to fierce legal battles.

The drawing of congressional districts for political advantage dates back to at least 1812, when the term “gerrymander” was coined after Massachusetts Democratic-Republican Gov. Elbridge Gerry signed off on a partisan map of state Senate districts.

5

Pritzker had earlier doubled down on talk of further redrawing lines for congressional races.The Late Show with Stephen Colbert

5

Accusations of the districts being drawn for political advantage stretch back to 19th century, when the term “gerrymander” was coined for a partisan map of Massachusetts drawn under Gov. Elbridge Gerry.The Late Show with Stephen Colbert

“Is this common for all states to do?” Colbert asked Pritzker at one point.

“We handed it over to a kindergarten class and let them decide,” the Illinois governor joked.

“That’s the nonpartisan group that does this?” an incredulous Colbert inquired.

“That’s our independent commission, yeah,” Pritzker deadpanned.

“So because all states, to a certain extent, do this, why is what Texas doing particularly egregious in this case?” Colbert asked again.

5

“What the Republicans are trying to do in the Texas Republicans frankly at the behest of Donald Trump are doing it mid-decade,” Pritzker claimed. “That is extraordinarily rare.”The Late Show with Stephen Colbert

“What the Republicans are trying to do in the — Texas Republicans frankly at the behest of Donald Trump are doing it mid-decade,” Pritzker claimed. “That is extraordinarily rare.”

Colbert added: “That’s a good point because I think he literally called them or wrote them and said, ‘Hey, I need five seats, go redraw this.’”

Illinois currently sends 17 members to the House, just three (17.6%) of whom are Republicans. In 2024, President Trump received 43.3% of the Illinois vote, suggesting that a fair map would have seven GOP House members.

Texas GOP Gov. Greg Abbott had civil arrest warrants issued for the Democrats who fled to Illinois, Massachusetts and New York, while congressional lawmakers, including Sen. John Cornyn (R-Texas), urged the FBI to hunt the scofflaws down.

5

Colbert added: “That’s a good point because I think he literally called them or wrote them and said, ‘Hey, I need five seats, go redraw this.’”The Late Show with Stephen Colbert

Trump has backed the Texas Republicans and suggested the bureau “may have to” get involved to force the runaway legislators back to Austin.

“We have a wonderful governor in Texas. He feels strongly about it. It’s going to be up to him. I think there’s tremendous support for it,” he told reporters Tuesday at the White House, noting that California and other Democratic states have been broaching the subject of redrawing their own districts.

“They’ll do it anyway. Why? If we stop over there, they would’ve done it anyway,” he said. “Look, a lot of these states I watched this morning as Democrats are complaining and they’re complaining from states where they’ve done it in Illinois.”

https://nypost.com/2025/08/06/us-news/stephen-colbert-shows-illinois-dem-gov-jb-pritzker-how-gerrymandered-his-state-is-amid-texas-controversy/

At least four injured in ‘active shooter’ incident at Georgia’s Fort Stewart military base

 Fort Stewart has been placed on lockdown after the Georgia US Army base’s commander reported an active shooter, and announced four people had been taken to the hospital so far.

The lockdown began at 11:04 a.m. in areas of the base including Wright and Evans Army Airfield and the Fort Stewart Schools, with officials advising those on site to remain indoors and close and lock all windows and doors.

3

Fort Stewart in Georgia is under lockdown due to an active shooter situation.3rd Infantry Division

3

The coastal Georgia military post confirmed there was an active shooter.Fort Stewart Hunter Army Airfield

Law enforcement, which is on scene at the base, identified a suspect, but has not released a name, WTOC reports.

3

Four people have been taken to the hospital with injuries at Fort Stewart so far.50th Public Affairs Detachment

Fort Stewart is the largest US Army installation east of the Mississippi River, covering some 280,000 acres (437 square miles, about 93% the size of New York City) in southeast Georgia, and serving as home to the 3rd Infantry Division as well as a training area for a number of other military units.

https://nypost.com/2025/08/06/us-news/georgias-fort-stewart-on-lockdown-several-injured-in-active-shooter-incident/

Bioventus Inc Q2 2025 Earnings: Revenue Beats at $147.7M, EPS Misses at $0.11

 

• Revenue: $147.7 million, surpassing the estimated $146.28 million, despite a 2.4% decline year-over-year due to divestitures.
• Earnings Per Share (EPS): Reported at $0.11, slightly below the estimated $0.13, but a significant improvement from a loss of $0.40 in the prior-year period.
• Net Income: Achieved $7.5 million, a turnaround from a net loss of $25.7 million in the same quarter last year.
• Cash Flow: Cash from operations increased by 71% to $25.9 million, indicating strong operational efficiency.
• Non-GAAP EPS: Increased by 31% to $0.21, reflecting lower interest expenses and reduced equity-based compensation.
• Adjusted EBITDA: Recorded at $33.8 million, slightly down from $34.5 million in the previous year, impacted by divestitures and foreign currency fluctuations.

On August 6, 2025, Bioventus Inc (BVS, Financial) released its 8-K filing, detailing its financial performance for the second quarter of 2025. The medical technology company, known for its innovative treatments that enhance the body's natural healing process, reported a revenue of $147.7 million, which exceeded the analyst estimate of $146.28 million. However, the company fell short of expectations with a diluted earnings per share (EPS) of $0.11, below the estimated EPS of $0.13.

Performance and Challenges

Bioventus Inc reported a 2.4% decline in revenue compared to the previous year, primarily due to the divestiture of its Advanced Rehabilitation Business. Despite this, the company achieved a 6.2% organic revenue growth, driven by strong performances in Surgical Solutions and Restorative Therapies. The net income attributable to Bioventus Inc was $7.5 million, a significant improvement from a net loss of $25.7 million in the prior-year period. This performance is crucial as it reflects the company's ability to adapt and grow despite divestitures and foreign currency impacts.

Financial Achievements

Bioventus Inc's financial achievements include a 31% increase in non-GAAP earnings per share to $0.21, driven by reduced interest expenses and lower equity-based compensation. Cash from operations rose by 71% to $25.9 million, highlighting the company's improved cash flow management. These achievements are vital for sustaining growth and enhancing shareholder value in the competitive medical devices and instruments industry.

Key Financial Metrics

The income statement reveals a total net sales decline of 2.4% to $147.7 million. The balance sheet shows total assets of $706.8 million, with a slight decrease from $728 million at the end of 2024. The company's liabilities decreased to $505.5 million from $542.4 million, reflecting improved financial stability. These metrics are essential for assessing the company's financial health and operational efficiency.

Revenue Breakdown

Business Segment	Q2 2025 Revenue ($ millions)	Change (%)
Pain Treatments	73.3	1.5%
Surgical Solutions	52.7	11.4%
Restorative Therapies	21.6	-31.6%

The revenue breakdown shows growth in Surgical Solutions and Pain Treatments, while Restorative Therapies experienced a decline due to the divestiture of the Advanced Rehabilitation Business.

Analysis and Outlook

Bioventus Inc's performance in Q2 2025 demonstrates resilience and strategic growth, despite challenges from divestitures and currency fluctuations. The company's focus on innovation, as evidenced by recent FDA clearances for TalisMann and StimTrial, positions it well for future growth. The reiteration of its 2025 financial guidance, including expected net sales of $560 million to $570 million, underscores confidence in its strategic direction.

“Our team delivered another strong quarter, and we are well positioned to accelerate revenue growth, profitability and cash flow in the second half of the year,” said Rob Claypoole, Bioventus President and Chief Executive Officer.

https://www.gurufocus.com/news/3040000/bioventus-inc-q2-2025-earnings-revenue-beats-at-1477m-eps-misses-at-011

Novavax tops Q2 estimates; raises full-year outlook

  

https://www.msn.com/en-us/money/topstocks/earnings-snapshot-novavax-tops-q2-estimates-raises-full-year-outlook/ar-AA1K11pg