Tempest Therapeutics(US:TPST)2024-11-12 21:16Financial Performance - Tempest ended Q3 2024 with $22.1 million in cash and cash equivalents, down from $39.2 million on December 31, 2023[11] - Net loss for Q3 2024 was $10.6 million, or $0.41 per share, compared to a net loss of $6.8 million, or $0.48 per share, in Q3 2023[11] - Research and development expenses for Q3 2024 were $7.6 million, an increase of $3.4 million from $4.2 million in Q3 2023[11] - General and administrative expenses for Q3 2024 were $3.0 million, up from $2.4 million in Q3 2023, primarily due to increased stock-based compensation[11] - Cash used in operating activities for the nine months ended September 30, 2024, was $22.9 million[11] - Total liabilities as of September 30, 2024, were $22.4 million, down from $24.8 million on December 31, 2023[15] Clinical Development - The company received FDA approval to proceed with a pivotal Phase 3 trial for amezalpat in combination with atezolizumab and bevacizumab for first-line HCC treatment[3] - Tempest announced an agreement with Roche to advance amezalpat into the pivotal Phase 3 trial, with Roche supplying atezolizumab globally[4] - The company plans to advance TPST-1495 into a Phase 2 study in patients with Familial Adenomatous Polyposis (FAP) in 2024 or early 2025[9] Leadership and Team Expansion - The company expanded its leadership team to enhance global clinical expertise with new appointments[8]