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Mar 31, 2022
Tempest Q1 2022 Earnings Report
Reported financial results for the first quarter of 2022 and provided a corporate update.
Key Takeaways
Tempest Therapeutics reported a net loss of $8.5 million, or $1.18 per share, for the quarter ended March 31, 2022. The company ended the quarter with $45.8 million in cash and cash equivalents.
Presented TPST-1120 Phase 1 monotherapy and combination therapy data at ASCO.
Presented positive preclinical data for TPST-1495 at AACR.
Presented positive preclinical data with proprietary small molecule TREX1 inhibitors at AACR.
Completed enrollment in the Phase 1 monotherapy and combination dose escalation arms for TPST-1120.
Tempest
Tempest
Forward Guidance
The company anticipates several near-term milestones for its clinical programs.
Positive Outlook
- First presentation of clinical data from TPST-1120 at ASCO 2022 Annual Meeting.
- Objective response data from the first 40 HCC patients in the first-line randomized study expected by year end or early 2023 for TPST-1120.
- Selection of monotherapy RP2D expected in the first half of 2022 for TPST-1495.
- Presentation of “trial in progress” poster at ASCO 2022 Annual Meeting for TPST-1495.
- Planned selection of TREX1 Inhibitor development candidate in the second half of 2022.