Quarterly ResultMay 14, 2026, 04:33 PM
Tempest Reports Positive TPST-2003 Interim Data; Q1 Net Loss $(27.7)M
AI Summary
Tempest Therapeutics reported positive interim data from its TPST-2003 clinical trials, showing a 100% complete response rate in CAR-T-naïve patients and a favorable safety profile. The company also announced Cincinnati Children’s AGCTC as its lead manufacturing partner and plans to initiate a U.S. registrational study for TPST-2003 in relapsed/refractory multiple myeloma later this year. Financially, Tempest reported a Q1 2026 net loss of $(27.7) million, primarily due to $22.1 million in acquired in-process R&D expenses from a recent asset acquisition, and ended the quarter with $1.8 million in cash.
Key Highlights
- TPST-2003 showed 100% complete response rate in 15 CAR-T-naïve patients across two trials.
- TPST-2003 demonstrated favorable safety with no Grade >=3 CRS or ICANS in REDEEM-1 trial.
- Cincinnati Children’s AGCTC selected as lead manufacturing partner for TPST-2003.
- Company plans to initiate U.S. registrational study for TPST-2003 in rrMM later this year.
- Q1 2026 net loss was $(27.7) million, up from $(10.9) million in Q1 2025.
- Cash and cash equivalents stood at $1.8 million as of March 31, 2026.
- Acquired in-process R&D expenses totaled $22.1 million in Q1 2026.
- Received $1.7 million net proceeds from a private placement of up to $6 million.