Tempest Therapeutics Inc Dossier
Qualitative Analysis
Business overview
Tempest Therapeutics, Inc. (Nasdaq: TPST) is a clinical-stage biotechnology company focused on developing a pipeline of advanced chimeric antigen receptor T-cell (CAR-T) therapies and small-molecule product candidates to treat various cancers. The company's therapeutic strategy aims to combine direct tumor-cell targeting with immune system activation to overcome the limitations of single-mechanism cancer treatments. Tempest's lead programs include TPST-2003, an autologous CD19/BCMA dual-targeting CAR-T therapy being evaluated for relapsed/refractory multiple myeloma (rrMM), and amezalpat (TPST-1120), a Phase 3-ready small-molecule PPARα antagonist positioned for hepatocellular carcinoma (HCC).
Research as of 20 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Integrating and advancing the newly acquired dual-targeting CAR-T assets (TPST-2003, TPST-2206, TPST-3003, TPST-3206) to establish a leadership position in engineered cell therapies.
Expected impact: Diversifies the pipeline beyond legacy small molecules and introduces clinical-stage cell therapy candidates with high response rates.
Actively pursuing strategic partnerships, regional licensing, and cross-border collaborations to fund and execute the Phase 3-ready amezalpat (PPARα antagonist) program in first-line hepatocellular carcinoma (HCC).
Expected impact: Enables global development of a Phase 3-ready asset without absorbing the full clinical trial cost internally.
Advancing the dual EP2/EP4 antagonist TPST-1495 in Familial Adenomatous Polyposis (FAP) through a Phase 2 study funded by the National Cancer Institute (NCI) and conducted by the Cancer Prevention Clinical Trials Network.
Expected impact: Progresses a key clinical asset while preserving cash runway for the CAR-T portfolio.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
Acquisition of four dual-targeting CAR-T cell therapy programs (including clinical-stage TPST-2003) to expand and diversify Tempest's oncology pipeline while securing financial support and extending the operational runway.
Financial impact: Resulted in the issuance of 8,268,495 shares of common stock and a $22.2 million non-cash in-process R&D charge in Q1 2026, while extending the cash runway to mid-2027 via concurrent financing commitments.
Strategic Partnerships
Novatim is sponsoring and conducting the Phase 1/2a REDEEM-1 trial of TPST-2003 in China and funding the planned 2027 BLA filing in China.
Terms: Partner-funded clinical development in China; Tempest retains exclusive development and commercialization rights outside of China, India, Turkey, and Russia.
Provides critical investment commitments and technical support to extend Tempest's operational runway and advance the CAR-T pipeline.
Terms: Investment commitment of up to $20.0 million (with $13.8 million remaining as of March 31, 2026).