Tempest Therapeutics, Inc.: management transactions · United States · SEC (Form 4)

About Tempest Therapeutics, Inc.

Tempest Therapeutics, Inc. is a U.S.-based clinical-stage biotechnology company listed on the NASDAQ (United States). For French-, Belgian- and Swiss-based investors, Tempest is best viewed as a development-stage oncology story: it has no meaningful commercial product revenue, and its valuation is driven primarily by clinical data, regulatory progress and pipeline optionality rather than by current sales. The company is headquartered in Brisbane, California, placing it in the heart of the U.S. West Coast biotech ecosystem. Tempest was built around the discovery and development of first-in-class small-molecule therapies designed to fight cancer through two complementary mechanisms: directly killing tumor cells and activating tumor-specific immunity. That scientific positioning is central to the company’s investment case. Its lead program, amezalpat, also known as TPST-1120, is a selective PPARα antagonist. Tempest’s corporate materials and SEC filings describe it as the most advanced asset in the portfolio and a program being developed primarily for hepatocellular carcinoma (HCC), where the company is pursuing combination therapy with current standards of care. Tempest’s second clinical asset is TPST-1495, a dual EP2/EP4 prostaglandin receptor antagonist. This program has been explored in endometrial cancer and is also being advanced for familial adenomatous polyposis (FAP), a rare disease with limited approved treatment options. More recently, Tempest expanded beyond small molecules by announcing the acquisition of dual-targeting CAR-T assets, broadening its platform and adding a cell-therapy angle to the pipeline. In competitive terms, Tempest occupies a high-risk, high-upside niche. It is not trying to compete with large oncology franchises on scale; instead, it aims to create value through differentiated biology, novel mechanisms and targeted indications with clear unmet medical need. The company’s market position therefore depends heavily on whether its clinical readouts can support eventual registrational development and, ultimately, commercialization or partnering. Recent company updates have highlighted positive clinical signals for amezalpat, along with important regulatory milestones such as FDA Orphan Drug and Fast Track designations and clearance to begin a Phase 3 strategy in HCC. Those developments matter because they can materially improve both the probability of technical success and the strategic attractiveness of the asset. Recent headlines have also shown that Tempest is actively managing its capital structure and strategic path. In 2025, the company said it would explore strategic alternatives, then later announced a transaction to acquire CAR-T programs with associated financing support. Tempest also indicated in its 2026 communications that it had enough runway to support ongoing development into mid-2027, subject to execution. For investors, the story remains classic clinical biotech: a focused U.S. NASDAQ-listed company with a potentially valuable oncology pipeline, but one that remains dependent on successful data, regulatory progression and disciplined cash management.