Tempest Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
02 December 2023 - 8:15AM
Tempest Therapeutics, Inc. (Nasdaq: TPST), a clinical-stage
oncology company developing first-in-class1 therapeutics that
combine both targeted and immune-mediated mechanisms, today
announced that the Compensation Committee of the Company’s Board of
Directors granted one employee a nonqualified stock option to
purchase 7,650 shares of its common stock under the Company’s 2023
Inducement Plan.
The stock option will vest over a four-year
period, with 25% of the option vesting on the first anniversary of
the employee’s start date, and 1/48th of the total shares vesting
monthly thereafter, subject to continued employment on each vesting
date.
About Tempest Therapeutics
Tempest Therapeutics is a clinical-stage
oncology company advancing small molecules that combine both
tumor-targeted and immune-mediated mechanisms with the potential to
treat a wide range of tumors. The company has a diverse portfolio
of novel programs ranging from early research to investigation in a
randomized global study in first-line cancer patients. The
company’s two novel clinical programs, TPST-1120 and TPST-1495,
target PPARα and EP2/EP4, respectively, and are advancing through
trials designed to study the agents as monotherapies and in
combination with approved agents. Tempest is also developing an
orally available inhibitor of TREX1, a target that controls
activation of the cGAS/STING pathway. Tempest is headquartered in
Brisbane, California. More information about Tempest can be found
on the company’s website at www.tempesttx.com.
Investor & Media
Contacts:
Sylvia WheelerWheelhouse Life Science
Advisorsswheeler@wheelhouselsa.com
Aljanae ReynoldsWheelhouse Life Science
Advisorsareynolds@wheelhouselsa.com
____________________1 If approved by the FDA
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