Tempest Therapeutics, Inc.

Listed Company

TPSTCIK 0001544227NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-26.26M

Total Assets

$16.93M

Equity

$6.67M

Shares Out

14.34M

Op. Cash Flow

$-26.82M

Business

Tempest Therapeutics, Inc. is a clinical-stage biotechnology company developing targeted and immune-mediated small-molecule therapies for oncology. Its main product candidates are amezalpat, an oral PPARα antagonist being advanced in first-line hepatocellular carcinoma, and TPST-1495, an oral dual EP2/EP4 prostaglandin receptor antagonist, alongside earlier-stage discovery programs. Key business activities include clinical development programs, discovery research, intellectual property management and collaborations (including clinical supply and study partnerships), with outsourced manufacturing and planned commercialization capabilities. The company conducts global clinical trials, works with strategic partners and expects to distribute products through third-party manufacturers and potential commercial channels in the United States and other regions.

Summary from filing dated 2025-03-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	13	28	17	23	17
General and administrative	14	14	12	12	10
Operating loss	−27	−42	−29	−35	−27
Interest expense	−207,000	−1	−1	—	—
Interest income and other income (expense), net	520,000	1	1	549,000	−34,000
Other income (expense), net	313,000	183,000	−334,000	−1	−1
Provision for income taxes	0	0	0	0	0
Net loss	−26	−42	−29	−36	−28
Net loss per share of common stock and pre-funded warrants, basic	−6.33	−19.5	−1.91	−3.09	−7.47
Net loss per share of common stock and pre-funded warrants, diluted	−6.33	−19.5	−1.91	−3.09	−7.47
Weighted-average shares used in computing basic net loss per share	4	2	15	12	4
Weighted-average shares of common stock and pre-funded warrants outstanding, diluted	4	2	15	12	4

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	8	30	39	31	52
Prepaid expenses and other current assets	562,000	1	1	1	2
Total current assets	8	31	40	33	69
Property and equipmentnet	605,000	886,000	840,000	1	1
Operating lease right-of-use assets	8	9	10	12	3
Other noncurrent assets	517,000	485,000	448,000	429,000	111,000
Total assets	17	41	52	46	73
Accounts payable	1	2	845,000	1	991,000
Accrued expenses	937,000	3	2	3	2
Current loan payable (net of discount and issuance costs of nil and $74, respectively)	0	6	4	—	—
Current operating lease liabilities	1	869,000	952,000	1	1
Accrued compensation	147,000	2	2	1	912,000
Interest payable	0	59,000	113,000	97,000	92,000
Total current liabilities	3	14	9	7	20
Operating lease liabilities, less current portion	7	8	9	10	2
Total liabilities	10	22	25	28	37
Commitments and contingencies (Note 5)	—	—	—	—	—
Common stock, $0.001 par value; 100,000,000 shares authorized; 4,927,161 and 3,382,432 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	5,000	3,000	22,000	11,000	7,000
Additional paid-in capital	240	226	192	154	136
Accumulated deficit	−233	−207	−165	−136	−100
Total stockholders' equity	7	19	27	18	36
Total liabilities and stockholders' equity	17	41	52	46	73

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation expense	266,000	389,000	381,000	638,000	374,000
Stock-based compensation expense	3	5	3	2	1
Noncash lease expense	1	1	2	1	896,000
Noncash interest and other expense, net	85,000	202,000	186,000	394,000	583,000
Prepaid expenses and other assets	615,000	−110,000	193,000	915,000	−179,000
Accounts payable	−1	2	−263,000	1,000	−209,000
Accrued expenses and other liabilities	−3	1	−992,000	2	723,000
Interest payable	−59,000	−54,000	16,000	−256,000	92,000
Operating lease liabilities	−870,000	−1	−2	−2	−1
Cash used in operating activities	−27	−33	−27	−31	−26
Purchase of property and equipment	0	−435,000	−170,000	−562,000	−135,000
Cash used in investing activities	0	−435,000	−170,000	−562,000	−97,000
Proceeds from the issuance of common stock, net of issuance costs	6	29	36	9	33
Proceeds from the issuance of pre-funded warrants, net of issuance costs	3	0	0	7	0
Proceeds from the issuance of common stock warrants, net of issuance costs	1	0	—	—	—
Repayment of loan	−6	−4	—	−5	—
Proceeds from the issuance of common stock under equity plan awards	47,000	307,000	—	—	—
Cash provided by financing activities	4	25	36	11	59
Net increase in cash and cash equivalents	−23	−9	8	−20	33
Cash paid for interest	192,000	1	1	2	953,000
Cash paid for business taxes	43,000	54,000	191,000	18,000	—
Property and equipment in accounts payable	0	0	0	93,000	78,000

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