Tempest Therapeutics Inc (TPST)

Shares of Tempest Therepeutics (TPST) dropped by 8.74% from $3.09 to $2.82 in the trading on Wednesday, November 8, 2023. The reason why TPST is down today is due to its third-quarter financial results. At the close of the third quarter, the company reported cash and cash equivalents amounting to $11.1 million, down from $31.2 million at the end of 2022. The net loss for the quarter ending September 30, 2023, was $6.8 million, with a net loss per share of $0.48, compared to $8.9 million and $0.66, respectively, for the same period in 2022. Research and development expenses decreased by $1.8 million year-over-year, totaling $4.2 million, while general and administrative expenses decreased to $2.4 million from $2.8 million in the same period last year, primarily due to reduced consulting and professional expenses and personnel costs.

Shares of Tempest Therepeutics (TPST) dropped by 59.26% from $9.77 to $3.98 in the trading on Thursday, October 12, 2023. The reason why TPST is down today is due to the release of promising clinical trial results regarding the company's liver cancer treatment drug candidate. The trial revealed that patients who received a combination of three treatments from Tempest Therapeutics exhibited an impressive 30% objective response rate (ORR), significantly surpassing the 13.3% ORR observed in patients treated with a single therapy. This positive outcome has sparked heightened investor interest in TPST stock. Furthermore, as Tempest Therapeutics continues to conduct additional trials for its cancer treatment and explores its potential application in treating various tumor types, TPST stock may remain a focal point for investors in the future.