Tempest Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Tempest Therapeutics, Inc. (Nasdaq: TPST) has granted two employees nonqualified stock options to purchase 45,500 shares of its common stock under the Company’s 2023 Inducement Plan. The stock options will vest over a four-year period, with 25% of each of the options vesting on the first anniversary of the employee’s start date, and 1/48th of the total shares vesting monthly thereafter, subject to continued employment on each vesting date.
02/02/2024 - 04:30 PM
BRISBANE, Calif., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Tempest Therapeutics, Inc. (Nasdaq: TPST), a clinical-stage oncology company developing first-in-class1 therapeutics that combine both targeted and immune-mediated mechanisms, today announced that the Compensation Committee of the Company’s Board of Directors granted two employees nonqualified stock options to purchase an aggregate of 45,500 shares of its common stock under the Company’s 2023 Inducement Plan.
The stock options will vest over a four-year period, with 25% of each of the options vesting on the first anniversary of such employee’s start date, and 1/48th of the total shares vesting monthly thereafter, subject to continued employment on each vesting date.
About Tempest Therapeutics
Tempest Therapeutics is a clinical-stage oncology company advancing small molecules that combine both tumor-targeted and immune-mediated mechanisms with the potential to treat a wide range of tumors. The company has a diverse portfolio of novel programs ranging from early research to investigation in a randomized global study in first-line cancer patients. The company’s two novel clinical programs, TPST-1120 and TPST-1495, target PPARα and EP2/EP4, respectively, and are advancing through trials designed to study the agents as monotherapies and in combination with approved agents. Tempest is also developing an orally available inhibitor of TREX1, a target that controls activation of the cGAS/STING pathway. Tempest is headquartered in Brisbane, California. More information about Tempest can be found on the company’s website at www.tempesttx.com .
Investor Contacts:
Sylvia Wheelerswheeler@wheelhouselsa.com
Aljanae Reynoldsareynolds@wheelhouselsa.com
1 If approved by the FDA
What is the ticker symbol for Tempest Therapeutics, Inc.?
The ticker symbol for Tempest Therapeutics, Inc. is TPST.
How many shares of common stock were granted to the employees?
The employees were granted nonqualified stock options to purchase an aggregate of 45,500 shares of Tempest Therapeutics, Inc.'s common stock.
What is the vesting period for the stock options?
The stock options will vest over a four-year period, with 25% of each of the options vesting on the first anniversary of the employee’s start date, and 1/48th of the total shares vesting monthly thereafter, subject to continued employment on each vesting date.
TPST Rankings
#91 Ranked by Stock Gains
TPST Stock Data
Industry
Pharmaceutical Preparation Manufacturing
Sector
Manufacturing
Country
United States
City
Ann Arbor
About TPST
tempest therapeutics is a development-stage biotechnology company advancing small molecule therapeutics that modulate anti-tumor immunity pathways. tempest has a balanced and deep pipeline consisting of first-in-class and best-in-class small molecule therapeutics, which modulate distinct immune response pathways relevant to mounting an effective anti-tumor response. the molecules were developed by inception sciences, a versant ventures affiliated drug discovery engine. tempest has assembled a highly experienced team of small molecule and immuno-oncology drug developers to advance these programs to the clinic across diverse cancers representing significant unmet medical need. tempest is backed by a syndicate of leading us and china based venture capital firms.
