Tempest Therapeutics, Inc.

Tempest Therapeutics, Inc. announced the closing of a private placement on September 15, 2026, raising approximately $2.5 million in gross proceeds. The offering consisted of pre-funded warrants and Series C and D warrants to purchase shares of common stock. The company intends to use the net proceeds for working capital and general corporate purposes. As part of the agreement, Tempest will seek stockholder approval for the issuance of shares underlying the warrants within 90 days.

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.

Tempest Therapeutics reported its second quarter 2026 financial results, showing a net loss of $5.2 million and cash and cash equivalents of $0.8 million. The company also provided a business update, highlighting a new development collaboration with Senlang Biotechnology for its next-generation in vivo CAR-T product candidate, TPST-4003, with first patient dosing expected in Q4 2026. Additionally, positive interim results were reported for TPST-2003, showing a 100% complete response rate in certain patient populations, and two new independent directors were appointed to the Board.

Tempest Therapeutics, Inc. has entered into a purchase agreement and a registration rights agreement with Lincoln Park Capital Fund, LLC. Under the agreement, Lincoln Park has committed to purchase up to $50.0 million of the company's common stock. The company retains the discretion to sell shares over a period of up to 24 months, with an initial available amount of $25.0 million, which will automatically increase by an additional $25.0 million. A registration statement for the resale of these shares will be filed within 10 days.

Tempest Therapeutics reported its Q2 2026 financial results, including a net loss of $5.2 million and $0.8 million in cash. The company announced a development collaboration with Senlang Biotechnology for its in vivo CAR-T product candidate, TPST-4003, with first patient dosing expected in Q4 2026. Additionally, positive interim results were reported for TPST-2003, showing a 100% complete response rate in CAR-T-naïve patients. The company also appointed two new independent directors to its Board.

Tempest Therapeutics, Inc. adjourned its special meeting of stockholders on July 27, 2026, due to insufficient votes to approve a Certificate of Amendment. The proposed amendment aimed to replace supermajority voting requirements and permit stockholder action by written consent. Although a quorum was present with 67.7% of shares, the proposal required a 75% affirmative vote. The meeting will reconvene on August 17, 2026, to provide stockholders additional time to vote on the unchanged proposal.

Tempest Therapeutics entered a collaboration agreement with Heibei Senlang Biotechnology Co., Ltd. to develop its TPST-4003 in vivo CAR-T product candidate. The partnership will initiate an investigator-initiated trial (IIT) in China for approximately 10 patients with myasthenia gravis or multiple sclerosis, with first patient dosing expected in Q4 2026. Tempest will pay Senlang development fees ranging from $1.5 million to $2.0 million per product, and Senlang gains an exclusive option for China rights.

Tempest Therapeutics announced a strategic partnership with Hebei Senlang Biotechnology to develop its proprietary TPST-4003 product candidate. TPST-4003 is a next-generation in vivo CAR-T candidate designed for autoimmune and oncology indications. Senlang will conduct an investigator-initiated trial in China, enrolling approximately 10 patients with myasthenia gravis or multiple sclerosis, with first patient dosing expected in the fourth quarter of 2026. The agreement also grants Senlang an exclusive option to negotiate a definitive license agreement for TPST-4003 in China.

Tempest Therapeutics, Inc. will hold a Special Meeting of Stockholders on July 27, 2026, to vote on amendments to its Restated Certificate of Incorporation. The proposed changes include eliminating restrictions on stockholder action by written consent, requiring approval by a majority of outstanding shares, and replacing supermajority voting requirements with majority-of-outstanding voting standards. The Board of Directors unanimously recommends approval, stating these changes will modernize and simplify governance practices.

Tempest Therapeutics announced details of its next-generation in vivo CAR-T platform, with its lead candidate TPST-4003 set to enter an investigator-initiated clinical trial. The trial will focus on nervous system autoimmune diseases like myasthenia gravis and multiple sclerosis, with first patient dosing expected in Q4 2026 and initial data in H1 2027. TPST-4003 utilizes a CD7-targeted mRNA/LNP delivery and a dual-targeting CD19/BCMA CAR construct, building on the success of TPST-2003 which achieved a 100% complete response rate.