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Mar 31
Tempest Q1 2025 Earnings Report
Tempest Therapeutics reported its first quarter 2025 financial results, highlighting progress in its clinical-stage programs and strategic initiatives.
Key Takeaways
Tempest Therapeutics reported a net loss of $10.86 million for the first quarter of 2025, with an operating loss of $10.936 million. The company ended the quarter with $21.511 million in cash and cash equivalents, a decrease from the previous quarter. Key developments include new amezalpat data, orphan drug designations for TPST-1495 and amezalpat, and progress towards a Phase 2 trial for TPST-1495.
Amezalpat program continues to show promising data, reinforcing its potential as a cancer therapy, with new mechanism-of-action data presented at AACR.
TPST-1495 received Orphan Drug designation from the FDA for the treatment of familial adenomatous polyposis (FAP) and a 'Study May Proceed' letter for its Phase 2 trial.
Amezalpat (TPST-1120) received both Orphan Drug and Fast Track designations from the FDA for the treatment of hepatocellular carcinoma (HCC).
The company is exploring strategic alternatives to advance its clinical-stage programs and maximize stockholder value, alongside a reduction in force completed in April 2025.
Tempest
Tempest
Forward Guidance
Tempest Therapeutics is actively exploring strategic alternatives to advance its clinical-stage programs and maximize stockholder value, with strong conviction in its oncology portfolio. The Phase 2 study for TPST-1495 is expected to begin in 2025.
Positive Outlook
- Continued positive data from the amezalpat program reinforces its potential as a cancer therapy.
- Orphan Drug and Fast Track designations for amezalpat (TPST-1120) for HCC.
- Orphan Drug designation for TPST-1495 for FAP.
- FDA 'Study May Proceed' letter received for Phase 2 trial of TPST-1495 for FAP, expected to begin in 2025.
- Active exploration of strategic alternatives to maximize stockholder value.
Challenges Ahead
- Net loss for the quarter increased compared to the same period in the previous year.
- Cash and cash equivalents decreased significantly from the prior quarter.
- The company's ability to continue as a going concern is a risk.
- Uncertainty regarding the availability of suitable third parties for strategic transactions.
- Risks related to volatility and uncertainty in the capital markets for biotechnology companies.