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Jun 30, 2022
Tempest Q2 2022 Earnings Report
Reported financial results for the second quarter of 2022 and provided a corporate update.
Key Takeaways
Tempest Therapeutics reported a net loss of $9.2 million, or $0.79 per share, for the second quarter of 2022. The company ended the quarter with $51.6 million in cash and cash equivalents. Research and development expenses were $5.7 million, while general and administrative expenses were $3.1 million.
Presented promising trial results from TPST-1120 at the ASCO Annual Meeting.
Closed a $15 million private investment in public equity (PIPE) financing.
Continued enrollment in the TPST-1495 Phase 1 study.
Presented first data with proprietary targeted TREX-1 Inhibitor molecules demonstrating therapeutic benefit in tumor-bearing mice at the AACR 2022 Annual Meeting.