Tempest Therapeutics, Inc. ( (TPST) ) has released its Q4 earnings. Here is a breakdown of the information Tempest Therapeutics, Inc. presented to its investors.
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Tempest Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing targeted and immune-mediated therapeutics for cancer treatment, headquartered in Brisbane, California.
Tempest Therapeutics recently released its financial results for the year ending 2024, highlighting significant progress in its clinical programs despite challenging capital markets. The company has achieved key regulatory milestones and secured important partnerships to advance its drug candidates.
In 2024, Tempest received Orphan Drug and Fast Track designations from the FDA for its lead candidate, Amezalpat, aimed at treating hepatocellular carcinoma (HCC). The company also announced a pivotal agreement with Roche to advance Amezalpat into a Phase 3 trial. Additionally, Tempest’s second candidate, TPST-1495, received a green light from the FDA for a Phase 2 trial targeting Familial Adenomatous Polyposis (FAP), with data expected in 2026.
Financially, Tempest ended 2024 with $30.3 million in cash, a decrease from the previous year, primarily due to increased R&D expenses as the company prepares for its pivotal trials. The net loss for the year was $41.8 million, with a notable rise in research and development costs reflecting the company’s strategic focus on advancing its clinical trials.
Looking ahead, Tempest Therapeutics remains committed to executing its clinical programs with excellence, focusing on securing the necessary resources to drive its promising drug candidates forward, as indicated by the management’s outlook.