MK-4208 (TERN-701, from Terns)
Acquired from Terns Pharmaceuticals; FDA Breakthrough Therapy designation for Ph+ CML in Q2 2026.
What it is
Oral BCR::ABL1 inhibitor for chronic myeloid leukemia, from Merck's acquisition of Terns Pharmaceuticals for $6.8B. It received Breakthrough Therapy designation for certain adults with Philadelphia chromosome-positive CML.
Why it matters to the stock. MK-4208 adds a leukemia franchise to Merck's oncology portfolio. The $5.7B R&D charge tied to Terns is the main reason 2026 non-GAAP EPS guidance was cut.
News
Merck completes $6.7 billion Terns Pharmaceuticals acquisition after 86% of shares are tendered
Merck completed its acquisition of Terns Pharmaceuticals after the tender offer expired on May 4 with about 100.09 million shares, or 86.36% of the total, tendered at $53.00 each.
Merck to buy Terns Pharmaceuticals for $53 a share, about $6.7 billion, for CML drug TERN-701
Merck agreed to acquire Terns Pharmaceuticals for $53.00 per share in cash, valuing the company at about $6.7 billion, or about $5.7 billion net of acquired cash.