Tempest Therapeutics, Inc. TPST stated on Thursday it had retained MTS Well being Companions as a monetary advisor. The corporate plans to discover strategic options to advance its clinical-stage applications and maximize stockholder worth.
Strategic options could embrace M&A, partnerships, joint ventures, licensing preparations or different strategic transactions.
“However the optimistic randomized information set from the amezalpat Section 2 and its blockbuster potential in first-line HCC, in addition to the potential of TPST-1495 because it strikes in direction of a Section 2 in FAP, the capital markets have been unavailable to assist the subsequent stage of development,” stated Stephen Brady, president and chief government officer of Tempest.
Additionally Learn: Why Is Small-Cap Tempest Therapeutics Inventory Buying and selling Larger On Thursday?
On Thursday, Scotiabank downgraded Tempest Therapeutics from Sector Outperform to Sector Carry out whereas elevating the value goal from $7 to $9.
In October 2024, the corporate entered into an settlement with Roche Holdings AG RHHBY to advance the analysis of amezalpat (TPST-1120) together with atezolizumab (Tecentriq) and bevacizumab, the present commonplace of take care of unresectable or metastatic hepatocellular carcinoma (HCC), right into a Section 3 trial for the first-line therapy of liver most cancers.
Below the settlement, Roche will provide atezolizumab globally and Tempest will sponsor and lead the pivotal research.
Analyst George Farmer writes that Roche seems to haven’t any monetary curiosity within the Section 3 analysis of amezalpat together with atezo/bev, regardless of the standard of outcomes that Tempest Therapeutics offered final June.
Different potential companions with deep pockets, like AstraZeneca and Bristol Myers Squibb & Co, with their very own most cancers immunotherapies, are uninterested.
“Lack of accomplice curiosity on this program, together with negligible BD engagement from Roche past promise of offering a free Section 3 provide of atezolizumab, signifies to us that that is most likely a damaged story that can not be repaired with out further early-stage scientific exploration,” Farmer writes.
“We expect the corporate could finally appeal to a purchaser, however we’d not anticipate a big transaction premium above the present buying and selling vary,” Farmer provides.
HC Wainwright downgraded Tempest Therapeutics from Purchase to Impartial whereas sustaining the value goal of $16.
TPST Worth Motion: Tempest Therapeutics inventory is down 6.93% at $6.65 at publication on Thursday.
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