Tempest reports Q2 2024 financials; amezalpat shows 6-month survival benefit in liver cancer study

Tempest Therapeutics, Inc.

2024-Q2 EPS reported -$0.78

Amezalpat median OS 21 months vs 15 months control (6-month improvement); HR 0.65 stable from prior 0.59.
Company plans to advance amezalpat into a registrational Phase 3 study in first-line HCC.
TPST-1495 to enter Phase 2 in Familial Adenomatous Polyposis in 2024 under NCI funding.
Q2 2024 net loss $9.6M ($0.42 per share); cash and equivalents $31.1M as of June 30, 2024.
R&D expenses $5.8M in Q2 2024 vs $4.4M in Q2 2023, increase due to CRO costs and stock compensation.

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