Quarterly ResultAug 13, 2026, 04:47 PM
Tempest Therapeutics Reports Q2 Loss, Going Concern Doubt
AI Summary
Tempest Therapeutics reported a net loss of $5.2 million for Q2 2026 and $32.9 million for the six months ended June 30, 2026. The company's cash and cash equivalents stood at $0.8 million, leading to substantial doubt about its ability to continue as a going concern for the next 12 months. This follows the acquisition of Erigen Assets for $19.9 million in stock and recent capital raises totaling approximately $4.0 million from a private placement and warrant inducement.
Key Highlights
- Net loss for Q2 2026 was $5.2 million, compared to $7.9 million in Q2 2025.
- Year-to-date net loss for H1 2026 was $32.9 million, up from $18.7 million in H1 2025.
- Cash and cash equivalents decreased to $0.8 million as of June 30, 2026, from $7.7 million at Dec 31, 2025.
- Stockholders' equity shifted to a deficit of $1.1 million as of June 30, 2026, from $6.7 million equity at Dec 31, 2025.
- Acquired Erigen Assets for $19.9 million in stock, expensing $22.1 million as in-process R&D.
- Raised approximately $2.0 million from a private placement and $2.0 million from a warrant inducement.
- Factor funding commitment has $11.8 million remaining, but access is uncertain.
- Company expects cash to fund operations for less than 12 months, raising going concern doubt.
Price Impact
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