Overview

* Tempest Therapeutics ( TPST ) Q3 net loss narrows to $3.5 mln from $10.6 mln in 2024

* Research and development expenses fell to $0.6 mln from $7.6 mln in Q3 2024

* Company ended Q3 with $7.5 mln in cash, down from $30.3 mln at 2024 year-end

Outlook

* Tempest continues strategic alternatives process to maximize stockholder value

* Company anticipates TPST-1495 Phase 2 trial start with NCI collaboration

* Tempest confident in amezalpat's potential for first-line HCC treatment

Result Drivers

* STRATEGIC SHIFT - Co reduced R&D expenses by $7.0 mln as it re-prioritized efforts towards exploring strategic alternatives

* CASH DECREASE - Cash and cash equivalents fell to $7.5 mln from $30.3 mln at 2024 year-end, mainly due to operating activities

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS -$0.79

Q3 Net -$3.51

Income mln

Q3 -$3.59

Operatin mln

g Income

Analyst Coverage

* The one available analyst rating on the shares is "hold"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy."

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)