Welcome to our dedicated page for Tempest Therapeutics news (Ticker: TPST), a resource for investors and traders seeking the latest updates and insights on Tempest Therapeutics stock.
Tempest Therapeutics, Inc. (TPST) is a biotechnology company focused on the development of small molecule therapeutics that modulate anti-tumor immunity pathways.
Tempest's mission is to pioneer novel treatments for cancer by leveraging a balanced and deep pipeline of small molecule therapeutics. These therapeutics are designed to modulate distinct immune response pathways that are crucial for mounting an effective anti-tumor response. Developed by Inception Sciences, a Versant Ventures-affiliated drug discovery engine, the company’s pipeline includes first-in-class and best-in-class molecules.
The company’s leading product candidates, TPST-1120 and TPST-1495, are in the clinical stage. TPST-1120 aims to inhibit its target to promote anti-tumor immunity, while TPST-1495 is designed to activate tumor-specific immune responses. These candidates are developed to address significant unmet medical needs across a range of cancers.
Tempest Therapeutics has assembled a highly experienced team of drug developers specializing in small molecules and immuno-oncology. This team is dedicated to advancing these programs through clinical trials and eventually to market. The company's robust research and development efforts are backed by a syndicate of leading venture capital firms based in the United States and China, providing strong financial support and strategic guidance.
Recent achievements for Tempest Therapeutics include the initiation and progress of randomized clinical trials, showcasing the company’s commitment to evidence-based development and regulatory approval. With a focus on innovation and patient outcomes, Tempest Therapeutics is well-positioned to make significant contributions to the field of oncology.
For more detailed information on the company’s latest updates, news, and financial performance, you can contact Sylvia Wheeler and Aljanae Reynolds at Wheelhouse Life Science Advisors.
Tempest Therapeutics (Nasdaq: TPST) reported Q2 2024 financial results and provided a business update. Key highlights include:
1. New positive survival data for amezalpat (TPST-1120) in first-line hepatocellular carcinoma (HCC) study, showing a six-month improvement in median survival over the control arm.
2. Plans to advance amezalpat towards a pivotal Phase 3 trial in first-line HCC.
3. Intention to move TPST-1495 into a Phase 2 study for Familial Adenomatous Polyposis (FAP).
4. Q2 2024 financial results: $31.1 million in cash and cash equivalents, net loss of $9.6 million, and net loss per share of $0.42.
5. Increased R&D expenses to $5.8 million and G&A expenses to $3.7 million for the quarter.
Tempest Therapeutics announced positive survival data from its Phase 1b/2 trial of amezalpat (TPST-1120) in combination with atezolizumab and bevacizumab for treating unresectable or metastatic hepatocellular carcinoma (HCC). The trial showed a median overall survival (OS) of 21 months in the amezalpat arm versus 15 months in the control arm, marking a six-month improvement.
Key findings include a hazard ratio of 0.65, with 50% of patients in the amezalpat arm still in survival follow-up. The trial demonstrated a confirmed objective response rate (cORR) of 30% in the amezalpat arm compared to 13.3% in the control arm. Amezalpat was well tolerated, with a manageable safety profile.
The company will host a webcast conference call to discuss these results.
Tempest Therapeutics (Nasdaq: TPST) will release new data from its global randomized Phase 1b/2 study of amezalpat (TPST-1120), combined with atezolizumab and bevacizumab, in the first-line treatment of hepatocellular carcinoma (HCC). The announcement will be made in a premarket press release on June 20, 2024, followed by a webcasted conference call at 8:30 a.m. ET. The study aims to explore the efficacy and safety of this combination therapy in treating HCC. Participants can join the conference call by pre-registering online to receive the necessary telephone number and unique passcode. The live webcast and a 30-day audio replay will be available on the Tempest website.
Tempest Therapeutics (Nasdaq: TPST) announced on June 7, 2024, that its Compensation Committee has granted stock options to purchase 14,000 shares to an employee. This grant is under the company's 2023 Inducement Plan and is compliant with Nasdaq Listing Rule 5635(c)(4). The stock options will vest over four years, with 25% vesting after the first year and the remaining shares vesting monthly over the next three years, contingent upon continued employment.
Tempest Therapeutics (Nasdaq: TPST), a clinical-stage biotechnology company focused on developing targeted and immune-mediated cancer therapies, announced participation in two investor conferences.
Management will present at TD Cowen's 5th Annual Oncology Innovation Summit on May 29, 2024, at 2:00 p.m. ET and at the Jefferies Global Healthcare Conference on June 5, 2024, at 4:00 p.m. ET.
Recordings of these events will be available on the Tempest investor relations website.
Tempest Therapeutics, Inc. (Nasdaq: TPST) reported financial results for Q1 2024, advancing TPST-1120 and TPST-1495 in clinical trials. TPST-1120 showed positive preclinical and clinical data in kidney and liver cancers. TPST-1495 to enter Phase 2 for FAP. Financially, Tempest ended Q1 with $32.3 million in cash, with net loss of $7.9 million.
Tempest Therapeutics, Inc. (Nasdaq: TPST) granted an employee nonqualified stock options to purchase 5,400 shares under the 2023 Inducement Plan. The options will vest over four years, with 25% on the first anniversary and monthly thereafter, contingent on continued employment.
FAQ
What is the current stock price of Tempest Therapeutics (TPST)?
What is the market cap of Tempest Therapeutics (TPST)?
What does Tempest Therapeutics, Inc. do?
What are Tempest Therapeutics' main product candidates?
Who developed Tempest Therapeutics' molecules?
What makes Tempest Therapeutics' pipeline unique?
Who are the key contacts for investor and media inquiries?
What type of cancers does Tempest Therapeutics target?
What is the core mission of Tempest Therapeutics?
What recent achievements has Tempest Therapeutics made?
Who supports Tempest Therapeutics financially?
How can I get the latest updates on Tempest Therapeutics?
