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Tempest Therapeutics (TPST) posts Q2 2026 loss and flags urgent funding needs

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Tempest Therapeutics reported second quarter 2026 results and outlined progress on its in vivo CAR-T pipeline. A development collaboration was executed with Hebei Senlang Biotechnology to advance product candidates including TPST-4003, with first patient dosing in an investigator-initiated trial in China anticipated in the fourth quarter of 2026 and initial clinical data expected in the first half of 2027.

The company highlighted TPST-2003 data from partner-run trials, noting a 100% complete response rate in 15 CAR-T‑naïve efficacy-evaluable patients and a favorable safety profile without Grade ≥3 cytokine release syndrome or immune effector cell‑associated neurotoxicity syndrome in the REDEEM‑1 trial. Tempest ended the quarter with $0.8 million in cash and cash equivalents and reported a net loss of $5.2 million for the quarter and $32.9 million for the first six months of 2026. Stockholders’ equity was a deficit of $1.1 million, and management disclosed ongoing needs for additional capital to fund programs and continue as a going concern.

Positive

  • 100% complete response rate in 15 CAR-T‑naïve efficacy‑evaluable patients treated with TPST-2003 across REDEEM‑1 and POEMS‑1, with a favorable safety profile and no Grade ≥3 cytokine release syndrome or immune effector cell‑associated neurotoxicity syndrome reported in REDEEM‑1.
  • Executed a strategic collaboration with Hebei Senlang Biotechnology and selected Cincinnati Children’s AGCTC as lead manufacturing partner for TPST‑2003, supporting advancement toward a potentially registrational study in relapsed/refractory multiple myeloma.
  • Entered a warrant inducement transaction generating approximately $2 million in gross proceeds, providing incremental non-dilutive cash relative to operations.

Negative

  • Quarter-end cash and cash equivalents were only $0.8 million, down from $7.7 million at year-end 2025, while cash used in operating activities for the first six months of 2026 totaled $10.4 million, indicating significant funding pressure.
  • Stockholders’ equity turned negative, with a deficit of $1.1 million at June 30, 2026 versus positive equity of $6.7 million at December 31, 2025, reflecting cumulative losses and acquisition-related charges.
  • Net loss for the first six months of 2026 increased to $32.9 million from $18.7 million a year earlier, driven mainly by $22.1 million of acquired in‑process research and development expenses linked to an asset acquisition.
  • Management explicitly cites the need for additional capital to fund planned programs and operations and to continue to operate as a going concern, underscoring material financing risk.

Filing Explained

The filing reports approximately $1.7 million in net proceeds associated with a warrant-inducement transaction during the second quarter, or approximately $2 million gross; it does not disclose the related share count or dilution terms.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Cash and cash equivalents $779 thousand Balance at June 30, 2026
Cash and cash equivalents prior year-end $7,707 thousand Balance at December 31, 2025
Net loss Q2 2026 $5,244 thousand Three months ended June 30, 2026
Net loss six months 2026 $32,940 thousand Six months ended June 30, 2026
Cash used in operating activities $10,400 thousand Six months ended June 30, 2026
Stockholders’ equity (deficit) $(1,090 thousand) Equity position at June 30, 2026
Warrant inducement proceeds $1,700 thousand Net proceeds from warrant inducement in Q2 2026
Complete response rate 100% 15 CAR-T‑naïve efficacy-evaluable patients treated with TPST-2003
in vivo CAR-T medical
"pioneering a pipeline of next generation in vivoCAR-T therapies for autoimmune"
In vivo CAR‑T is a cancer immunotherapy approach that delivers genetic instructions directly into a patient’s body so their own immune cells are reprogrammed on site to recognize and kill cancer cells, instead of removing and engineering those cells in a lab. For investors, it matters because this method could make CAR‑T treatments faster, cheaper and easier to scale—potentially expanding the market—but it also introduces different safety, manufacturing and regulatory risks that affect commercial viability.
cytokine release syndrome medical
"no Grade ≥3 cytokine release syndrome or immune effector cell-associated"
An intense immune overreaction in which the body's defense system releases a large surge of signaling proteins, causing fever, low blood pressure, breathing trouble or organ stress; imagine the immune system's alarm going into overdrive and flooding the body with emergency responders. Investors care because this side effect can slow or block regulatory approval, increase clinical trial costs and liabilities, limit how widely a therapy can be used, and therefore affect a drug's market value and sales potential.
immune effector cell-associated neurotoxicity syndrome medical
"no Grade ≥3 cytokine release syndrome or immune effector cell-associated"
immune effector cell-associated neurotoxicity syndrome (ICANS) is a brain-related side effect that can occur after treatments that activate powerful immune cells, such as engineered cell therapies. It can cause confusion, speech problems, seizures or coma when the immune response unintentionally harms brain function; think of an overenthusiastic security system that starts damaging the house it’s protecting. Investors care because ICANS affects clinical trial results, regulatory approvals, product labeling, treatment adoption, monitoring costs and potential liability, all of which influence a therapy’s commercial value.
progression free survival medical
"investigator-initiated trial reached median progression free survival of 23.1 months"
Progression free survival is the length of time during and after a treatment when a disease, such as cancer, does not get worse or spread. It is an important measure because longer periods of stability can indicate that a treatment is effectively controlling the condition. For investors, it provides insight into the potential durability and success of a therapy or medication.
extramedullary disease medical
"including in patients with extramedullary disease."
Extramedullary disease means cancer cells have spread and are growing outside the bone marrow, where certain blood cancers normally live. Like weeds appearing beyond a fenced garden, this spread can make the disease harder to treat, change which medicines or procedures are needed, and affect outcomes, clinical trial results, and costs—information investors watch because it can influence a company’s revenue, regulatory decisions, and stock value.
myasthenia gravis medical
"approximately 10 patients with myasthenia gravis or multiple sclerosis."
Myasthenia gravis is a chronic neurological condition where the immune system weakens the connection between nerves and muscles, causing muscles to tire quickly and control to falter — for example in the eyes, face, throat or limbs. Think of it like a loose electrical plug or a dimmed signal that makes muscles respond less reliably. Investors care because diagnosis rates, treatment options, clinical trial outcomes and drug approvals directly affect healthcare spending, the market for therapies and company valuations in the neurology and biopharma sectors.
Net loss $5,244 thousand (quarter); $32,940 thousand (six months) Quarter net loss improved from $7,870 thousand; six-month net loss increased from $18,730 thousand due to acquired in-process R&D.
Research and development expenses $1,819 thousand (quarter); $1,933 thousand (six months) Quarter R&D decreased from $3,871 thousand; six-month R&D decreased from $11,498 thousand, largely from re-prioritization after the asset acquisition.
General and administrative expenses $3,431 thousand (quarter); $8,856 thousand (six months) Quarter G&A decreased from $4,095 thousand; six-month G&A increased from $7,404 thousand due to one-time costs from the asset acquisition.
Acquired in-process R&D $22,180 thousand (six months) Increased from nil in the prior-year six-month period, reflecting costs incurred for the February 2026 asset acquisition.
Cash and cash equivalents $779 thousand Decreased from $7,707 thousand at December 31, 2025, after $10,400 thousand cash used in operating activities in the first half of 2026.

FAQ

What were Tempest Therapeutics (TPST) key financial results for Q2 2026?
Tempest reported a net loss of $5.2 million and net loss per share of $0.34 for Q2 2026, compared with a $7.9 million net loss and $2.07 loss per share for the same quarter in 2025.

How much cash did Tempest Therapeutics (TPST) have at June 30, 2026?
Tempest ended June 30, 2026 with $0.8 million in cash and cash equivalents, down from $7.7 million at December 31, 2025, after using $10.4 million in operating cash during the first six months of 2026.

What clinical results did Tempest Therapeutics (TPST) report for TPST-2003?
Across REDEEM‑1 and POEMS‑1, TPST‑2003 showed a 100% complete response rate in 15 CAR‑T‑naïve efficacy‑evaluable patients, with no Grade ≥3 cytokine release syndrome or immune effector cell‑associated neurotoxicity syndrome reported in REDEEM‑1.

What is Tempest Therapeutics’ (TPST) collaboration with Hebei Senlang Biotechnology?
Tempest executed a strategic partnership with Hebei Senlang Biotechnology to develop certain in vivo CAR‑T product candidates, including TPST‑4003, starting with an investigator‑initiated trial in China in about 10 patients with myasthenia gravis or multiple sclerosis.

How did the February 2026 asset acquisition affect Tempest Therapeutics (TPST) results?
The asset acquisition led to $22.1 million of acquired in‑process research and development expense in the first half of 2026 and contributed to the decrease in cash and the shift to a stockholders’ equity deficit of $1.1 million at June 30, 2026.

What going concern and funding risks does Tempest Therapeutics (TPST) highlight?
Management notes a continuing need for additional capital to fund planned programs and operations and to continue as a going concern, citing capital markets volatility and other uncertainties as key risk factors in its forward‑looking statements.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 13, 2026

 

 

Tempest Therapeutics, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-35890

45-1472564

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

2000 Sierra Point Parkway, Suite 400

 

Brisbane, California

 

94005

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (415) 798-8589

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock, $0.001 par value

 

TPST

 

The Nasdaq Stock Market LLC

Series A Junior Participating Preferred Purchase Rights

 

N/A

 

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Item 2.02 Results of Operations and Financial Condition.

On [August 13], 2026, Tempest Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2026 and other business highlights. A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

The foregoing information (including Exhibit 99.1 hereto) is being furnished under “Item 2.02 Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description

99.1

Press release dated August 13, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

TEMPEST THERAPEUTICS, INC.

 

 

 

 

Date:

August 13, 2026

By:

/s/ Matthew Angel

 

 

Name:

Matthew Angel

 

 

Title:

Chief Executive Officer

 

Exhibit 99.1

 

img73128808_0.jpg

 

Tempest Reports Second Quarter 2026 Financial Results and

Provides Business Update

Executed a development collaboration with Senlang Biotechnology to advance certain in vivo CAR-T product candidates, including TPST-4003, a CD7-targeted next-generation in vivo CAR-T, with first patient dosing anticipated in the fourth quarter of 2026 and initial clinical data expected in the first half of 2027

 

Unveiled pipeline of next-generation in vivo CAR-T product candidates for oncology and immunology applications differentiated by CD-7 targeted mRNA/LNP delivery approach

 

Appointed Drake Richey and John Yee, MD, MPH, to Board of Directors

Brisbane, CA, August 13, 2026 – Tempest Therapeutics, Inc. (Nasdaq: TPST) (“Tempest”), a clinical-stage biotechnology company developing a pipeline of advanced chimeric antigen receptor T-cell (“CAR-T”) product candidates, today reported financial results for the quarter ended June 30, 2026, and provided a business update.

“We continue to execute against our strategy by advancing our next-generation in vivo CAR-T platform, expanding our expertise with the appointment of two new board members and strengthening our development capabilities through a new collaboration focused on our next-generation in vivo CAR-T candidate, TPST-4003,” said Matt Angel, Ph.D., President and Chief Executive Officer of Tempest. “These milestones reflect the momentum we are building across the business and reinforce our commitment to developing innovative therapies aiming to transform patient care. We are particularly excited to advance TPST-4003 toward an investigator-initiated clinical trial planned for the fourth quarter of 2026, an important step as we work to bring transformative options to patients.”

Recent Highlights

•
TPST-4003
•
Unveiled next-generation in vivo CAR-T pipeline, including lead product candidate TPST-4003, a dual-targeting CD19/BCMA CAR-T that combines the company’s proprietary CD7-targeted mRNA/LNP delivery with its clinically validated dual-target CAR architecture for broad B-cell lineage depletion and reset.
•
Executed a strategic partnership with Hebei Senlang Biotechnology to collaborate on the development of Tempest’s certain proprietary in vivo CAR-T product candidates, including its CD7-targeted next-generation in vivo CAR-T product candidate, TPST-4003, beginning with an investigator-initiated trial

 

in China evaluating TPST-4003 in approximately 10 patients with myasthenia gravis or multiple sclerosis. The company expects first patient enrollment and dosing to occur in the fourth quarter of 2026.

 

•
TPST-2003
•
Reported positive interim results across two ongoing clinical trials (REDEEM-1 Phase 1/2a trial of TPST-2003 in patients with relapsed/refractory multiple myeloma (“rrMM”), and POEMS-1 Phase 1 trial evaluating TPST-2003 in the rare disease, POEMS syndrome), both of which are being sponsored and conducted by Tempest’s partner, Novatim Immune Therapeutics:
•
100% complete response rate among all 15 CAR-T-naïve efficacy evaluable patients treated with TPST-2003 across REDEEM-1 and POEMS-1 trials.
•
Favorable safety profile with no Grade ≥3 cytokine release syndrome or immune effector cell-associated neurotoxicity syndrome in REDEEM-1 trial appears to be emerging as a potentially differentiating attribute in its class.
•
Prior investigator-initiated trial reached median progression free survival of 23.1 months, including in patients with extramedullary disease.
•
44 patients with rrMM treated to date across three studies.
•
Announced the selection of Cincinnati Children’s AGCTC as the lead contract development and manufacturing partner to conduct the formal technology transfer of TPST-2003, Tempest’s dual-targeting CD19/BCMA CAR-T therapy under development for the treatment of relapsed/refractory multiple myeloma (rrMM). Further to the selection of AGCTC as lead partner, AGCTC took delivery of the TPST-2003 lentiviral vector, a critical component used in the manufacturing of TPST-2003, supporting plans to initiate the first potentially registrational study to evaluate a dual-targeting CAR-T therapy in patients with rrMM, including patients who are experiencing extramedullary disease (EMD), later this year.

 

 

•
Corporate:
•
Entered into a definitive agreement for the inducement of exercise of certain outstanding warrants (“Warrant Inducement”) for approximately $2 million in gross proceeds.
•
Appointed two independent directors, Drake Richey and John Yee, MD, MPH, collectively bringing decades of experience in corporate finance and therapeutic product development to Tempest’s Board of Directors.
•
Announced the appointment of Andrew Fang, Ph.D., as Head of Business Development. In his role, Dr. Fang will lead Tempest’s global business development efforts, including strategic partnerships, cross-border licensing and corporate transactions, with a particular focus on expanding Tempest’s outreach and partnering efforts in China.

Financial Results

Second Quarter 2026

•
Tempest ended the quarter with $0.8 million in cash and cash equivalents, compared to $7.7 million on December 31, 2025. The decrease was primarily due to one-time transaction-associated costs incurred prior to or upon closing of the Asset Acquisition in February 2026, offset by the net proceeds of the Company’s private placement of common stock and warrants in March 2026 of $1.7 million and the Warrant Inducement of $1.7 million in the second quarter.
•
Net loss and net loss per share for the quarter were $5.2 million and $0.34, respectively, compared to $7.9 million and $2.07, respectively, for the three months ended June 30, 2025.
•
Research and development expenses for the quarter were $1.8 million compared to $3.9 million for the three months ended June 30, 2025. The $2.1 million decrease was primarily due to a decrease in costs incurred as a result of the re-prioritization of efforts after the Asset Acquisition in February 2026, offset by research and manufacturing costs related to the Company’s CAR-T product candidates.
•
General and administrative expenses for the quarter were $3.4 million compared to $4.1 million for the same period in 2025. The $0.7 million decrease was primarily due to a decrease in one-time separation costs previously incurred in the second quarter of 2025, offset by other administrative expenses.

 

Year-to-Date

 

•
Cash used in operating activities for the six months ended June 30, 2026 was $10.4 million.
•
Net loss and net loss per share for the six months ended June 30, 2026 were $32.9 million and $2.51, respectively, compared to $18.7 million and $5.17, respectively, for the same period in 2025.
•
Research and development expenses for the six months ended June 30, 2026 were $1.9 million, compared to $11.5 million for the same period in 2025. The $9.6 million decrease was primarily due to a decrease in costs incurred as a result of re-prioritizing efforts towards exploring strategic alternatives initiated in April 2025 and resulting in the Asset Acquisition completed in February 2026.
•
General and administrative expenses for the six months ended June 30, 2026 were $8.8 million, compared to $7.4 million for the same period in 2025. The $1.4 million increase was primarily due to one-time costs resulting from the Asset Acquisition completed in February 2026.
•
Acquired in-process research and development expenses for the six months ended June 30, 2026 were $22.1 million compared to nil for the six months ended June 30, 2025. Costs incurred prior to or upon closing the Asset Acquisition in the prior three months ended March 31, 2026 were expensed as acquired in-process research and development.

About Tempest Therapeutics

Tempest is a clinical-stage biotechnology company pioneering a pipeline of next generation in vivoCAR-T therapies for autoimmune and oncology indications. Tempest’s immune reset technology is embodied in TPST-4003, the company’s lead in vivo CAR-T product candidate, which combines a dual-target CD19/BCMA CAR structure with the company’s proprietary CAR-T delivery platform to support broad B-cell lineage reset across multiple indications. The company’s additional preclinical programs leverage advanced payloads to create a modular in vivo CAR-T portfolio. Tempest envisions a world in which immune reset therapies bring safe, effective, and broadly accessible therapeutic options to patients in need. For additional information, visit Tempest’s website at https://www.tempesttx.com.

 

Forward-Looking Statements

 

This press release contains forward-looking statements, including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, concerning Tempest Therapeutics, Inc. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Tempest Therapeutics, as well as assumptions made by, and

 

information currently available to, management of Tempest Therapeutics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “could”, “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” “goal”, “suggest”, “target” and other similar expressions. All statements that are not historical facts are forward-looking statements, including but not limited to, statements regarding: Tempest’s collaboration with Senlang and the advancement, development, design and potential benefits of TPST-4003; the planned investigator-initiated trial of TPST-4003, including the expected patient population, indications, number of patients, timing of first patient enrollment and dosing, expected assessments and anticipated timing and nature of initial and interim clinical data; the potential applicability of Tempest’s platform and product candidates across autoimmune and oncology indications; Tempest’s business development and partnering plans, including in China; and Tempest’s need for, and ability to obtain, additional capital to fund its planned programs and operations and continue as a going concern. All forward-looking statements in this press release are based on Tempest Therapeutics’ current expectations, estimates and projections about its industry as well as management’s current beliefs and expectations of future events only as of today and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to Tempest Therapeutics’ need for additional capital to fund its planned programs and operations and to continue to operate as a going concern; unexpected safety or efficacy data observed during preclinical or clinical trials; the possibility that results from prior clinical trials and preclinical studies may not necessarily be predictive of future results; past results may not be indicative of future results; clinical trial site activation or enrollment rates that are lower than expected; loss of key personnel; changes in expected or existing competition; changes in the regulatory environment; risks relating to volatility and uncertainty in the capital markets for biotechnology companies; and unexpected litigation or other disputes. These and other factors that may cause actual results to differ from those expressed or implied are discussed in greater detail in the “Risk Factors” section of Tempest Therapeutics' Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on March 30, 2026, and in other documents filed by Tempest Therapeutics from time to time with the SEC. Except as required by applicable law, Tempest Therapeutics undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Tempest Therapeutics’ views as of any date subsequent to the date of this press release and should not be relied upon as prediction of future events. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of Tempest Therapeutics.

 

 

TEMPEST THERAPEUTICS, INC.

 

Consolidated Balance Sheets

 

(in thousands)

 

 

 

 

 

 

 

 

June 30, 2026

 

 

December 31, 2025

 

Assets

 

 

 

 

 

Current assets

 

 

 

 

 

Cash and cash equivalents

$

779

 

 

$

7,707

 

Prepaid expenses and other current assets

 

918

 

 

 

562

 

Total current assets

 

1,697

 

 

 

8,269

 

 

 

 

 

 

 

Property and equipment, net

 

486

 

 

 

605

 

Operating lease right-of-use assets

 

6,949

 

 

 

7,540

 

Other noncurrent assets

 

501

 

 

 

517

 

 

 

 

 

 

 

Total assets

$

9,633

 

 

$

16,931

 

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

Current liabilities

 

 

 

 

 

Accounts payable

$

1,995

 

 

$

1,038

 

Accrued expenses

 

715

 

 

 

937

 

Current operating lease liabilities

 

1,287

 

 

 

1,192

 

Accrued compensation

 

453

 

 

 

147

 

Total current liabilities

 

4,450

 

 

 

3,314

 

 

 

 

 

 

 

Operating lease liabilities

 

6,273

 

 

 

6,949

 

Total liabilities

 

10,723

 

 

 

10,263

 

 

 

 

 

 

 

Stockholders' equity

 

 

 

 

 

Common stock(1)

 

16

 

 

 

5

 

Additional paid-in capital(1)

 

274,210

 

 

 

240,031

 

Accumulated deficit

 

(275,316

)

 

 

(233,368

)

Total stockholders' equity (deficit)

 

(1,090

)

 

 

6,668

 

Total liabilities and stockholders' equity (deficit)

$

9,633

 

 

$

16,931

 

 

 

 

TEMPEST THERAPEUTICS, INC.

 

Consolidated Statements of Operations

 

(in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

 

Three months ended

 

 

Six months ended

 

 

Six months ended

 

 

June 30, 2026

 

 

June 30, 2025

 

 

June 30, 2026

 

 

June 30, 2025

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

Research and development

$

1,819

 

 

$

3,871

 

 

$

1,933

 

 

$

11,498

 

General and administrative

 

3,431

 

 

 

4,095

 

 

 

8,856

 

 

 

7,404

 

Acquired in-process research and development

 

-

 

 

 

-

 

 

 

22,180

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating loss

 

(5,250

)

 

 

(7,966

)

 

 

(32,969

)

 

 

(18,902

)

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense), net:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

-

 

 

 

(46

)

 

 

-

 

 

 

(207

)

Interest and other income, net

 

6

 

 

 

142

 

 

 

29

 

 

 

379

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

$

(5,244

)

 

$

(7,870

)

 

$

(32,940

)

 

$

(18,730

)

Net loss per share

$

(0.34

)

 

$

(2.07

)

 

$

(2.52

)

 

$

(5.17

)

 

 

Investor Contacts:

Sylvia Wheeler

Wheelhouse Life Science Advisors

swheeler@wheelhouselsa.com

 

Aljanae Reynolds

Wheelhouse Life Science Advisors

areynolds@wheelhouselsa.com

 

Source: View Original Filing on SEC EDGAR

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