Tempest Therapeutics

What Tempest Therapeutics does

Tempest Therapeutics (NASDAQ: TPST) is a clinical-stage biotechnology company headquartered in Brisbane, California, developing oral small molecule therapeutics and CAR-T cell therapies for patients with advanced or relapsed/refractory cancers. The pipeline is anchored by amezalpat (TPST-1120), an oral PPARα antagonist being advanced toward pivotal Phase 3 development in first-line hepatocellular carcinoma, and includes TPST-1495 (a dual EP2/EP4 prostaglandin receptor antagonist in familial adenomatous polyposis, operationalized by the NCI Cancer Prevention Network), a TREX1 program, and — added in February 2026 through the all-stock acquisition of Factor Bioscience and Erigen — a CAR-T franchise led by TPST-2003 (dual-targeting CD19/BCMA), the in vivo CAR-T alternative TPST-4003, and allogeneic candidates TPST-2206, TPST-3003 and TPST-3206 being developed in China with Novatim Immune Therapeutics.

The business model is pre-revenue: Tempest has no commercial product and no product pricing, generates no product revenue, and funds operations through repeated equity financings (a $15M private placement in April 2022, ~$4.6M in June 2025, ~$4.25M upfront/up to $8.35M in November 2025, ~$2M in March 2026 and ~$2M via warrant exercise in May 2026, with H.C. Wainwright as recurring placement agent). Go-to-market is partner-driven: clinical development is operationalized by Novatim (China), the NCI Cancer Prevention Network (FAP), and Cincinnati Children's AGCTC (manufacturing), and patient access to investigational therapy is restricted to clinical trial enrollment under the company's Expanded Access Policy. The company is publicly traded, micro-cap (~$18.65M market cap, down ~82% YoY), and as of Q1 2026 carried $1.8M in cash against $27.7M in net loss, $822,000 in stockholders' equity, and an active Nasdaq deficiency notice for failing the $2.5M minimum equity requirement — a going-concern signal it disclosed in conjunction with its March 2026 private placement.

Customers are not commercial in the traditional sense. End users are oncology patients with limited treatment options — relapsed/refractory multiple myeloma, POEMS syndrome, first-line HCC, RCC, CCA, and FAP — accessed only through clinical trials. Strategic counterparties (Novatim, NCI, Cincinnati Children's, H.C. Wainwright, EcoR1 Capital, Versant Venture Capital) effectively constitute the B2B "customer" base, with a planned out-licensing/partnership for amezalpat Phase 3 explicitly tied to the product's commercial pathway.

Name

Tempest Therapeutics

Legal name

Tempest Therapeutics, Inc.

Website

https://tempesttx.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Tempest Therapeutics is a clinical-stage, pre-revenue biotechnology company (NASDAQ: TPST) developing oral small molecule and CAR-T cell therapies for patients with advanced or relapsed/refractory cancers, advancing amezalpat, TPST-1495, TREX-1 and the acquired TPST-2003 CD19/BCMA CAR-T franchise via partner-driven development.

Ownership category

akta.pro rank

Product category

Clinical-stage oncology therapeutics

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

CAR-T & TCR-T Therapies (HLAAABAC)

akta.pro secondary industry

Oncology Gene Therapies (incl. oncolytic vectors & gene-modified approaches) (HLAAACAF)

Keywords

• Clinical-stage oncology drugs
• Small molecule therapeutics
• CAR-T cell therapy
• Immuno-oncology pipeline
• Cancer drug development

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Others

Revenue model

1. Pre-revenue / No commercial product revenue: Clinical-stage biotechnology company with no commercial products; no product revenue generated. Operations are funded by equity financings (private placements, registered direct offerings, warrant exercises) and capital is used for R&D and general corporate purposes. The company reported a 2025 net loss of $26.3 million and Q1 2026 net loss of $27.7 million driven primarily by a $22.1 million acquired in-process R&D charge from the Factor Bioscience asset acquisition.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Tempest Therapeutics is a clinical-stage biotechnology company developing a portfolio of oral small molecule therapeutics and CAR-T cell therapies designed to treat cancer through direct tumor killing, immune activation, or a combination of both mechanisms. The lead asset is amezalpat (TPST-1120), an oral PPARα antagonist advancing toward pivotal development for first-line hepatocellular carcinoma, supplemented by TPST-1495 (dual EP2/EP4 antagonist) for familial adenomatous polyposis, TREX-1 (STING-pathway activator), and an acquired CAR-T franchise led by TPST-2003, a dual-targeting CD19/BCMA CAR-T for relapsed/refractory multiple myeloma and POEMS syndrome.

Product overview

Tempest Therapeutics is a clinical-stage biotechnology company developing a portfolio of oral small molecule therapeutics and CAR-T cell therapies designed to treat cancer through direct tumor killing, activation of tumor-specific immunity, or a combination of both mechanisms. The lead asset is amezalpat (TPST-1120), an oral PPARα antagonist advancing toward pivotal Phase 3 development for first-line hepatocellular carcinoma (HCC). The small molecule pipeline also includes TPST-1495, a dual EP2/EP4 prostaglandin receptor antagonist for familial adenomatous polyposis (FAP) under NCI's Cancer Prevention Network, and TREX-1, a STING-pathway TREX1 inhibitor. Following the February 2026 all-stock acquisition of Factor Bioscience and Erigen, Tempest added a CAR-T cell therapy franchise led by TPST-2003 (ERI-2003), a dual-targeting CD19/BCMA CAR-T for relapsed/refractory multiple myeloma, supported by next-generation candidates TPST-4003 (in vivo CAR-T) and TPST-2206, TPST-3003, and TPST-3206 (allogeneic CAR-Ts being developed in China with Novatim Immune Therapeutics). Together these programs comprise Tempest's oncology pipeline targeting advanced cancers in patients who have failed or relapsed from prior therapies.

Differentiator

Problem solved

Functional benefit

Brands

• amezalpat (TPST-1120): Lead small molecule therapeutic candidate for first-line hepatocellular carcinoma (HCC), being developed toward pivotal Phase 3 development.
• TPST-1495
• TPST-2003

Products and services

• Amezalpat (TPST-1120) Oral PPARα antagonist designed to treat cancer through direct tumor killing and tumor-specific immune activation. Lead clinical-stage asset for first-line hepatocellular carcinoma (HCC), with prior clinical evaluation in renal cell carcinoma (RCC) and cholangiocarcinoma (CCA).
• TPST-1495 Dual EP2/EP4 prostaglandin receptor antagonist in development for familial adenomatous polyposis (FAP), designed to modulate prostaglandin-driven immune suppression in the tumor microenvironment. Phase 2 to be operationalized by the NCI Cancer Prevention Network.
• TREX-1 TREX1 inhibitor targeting the STING (stimulator of interferon genes) innate immune pathway to activate tumor-specific immunity; included in Tempest's portfolio of oral cancer therapeutics.
• TPST-2003 (ERI-2003) Clinical-stage dual-targeting CD19/BCMA CAR-T cell therapy for relapsed/refractory multiple myeloma (rrMM) and POEMS syndrome, acquired from Factor Bioscience Inc. and Erigen LLC in February 2026. Demonstrated 100% complete response rate in 15 CAR-T-naïve efficacy-evaluable patients across REDEEM-1 and POEMS-1 Phase 1 trials, with no Grade >3 CRS or ICANS across 44 patients treated to date.
• TPST-4003 In vivo CAR-T alternative being developed as part of Tempest's post-acquisition dual CAR-T strategy, expanding beyond ex vivo cell therapy modalities.
• TPST-2206, TPST-3003, TPST-3206 Pipeline of next-generation allogeneic CAR-T cell therapy candidates; clinical development in China to be operationalized by Novatim Immune Therapeutics (Zhejiang) Co., Ltd.

Quantifiable outcome

• 100% complete response rate across 15 CAR-T-naïve efficacy evaluable patients in REDEEM-1 and POEMS-1 trials with TPST-2003
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core and flagship.

• Cincinnati Children's Applied Gene and Cell Therapy Center (AGCTC)coreStrategic or Co-development Partner · 11 March 2026Selected as Tempest's lead contract development and manufacturing partner to conduct technology transfer for TPST-2003, the company's dual-targeting CD19/BCMA CAR-T therapy for relapsed/refractory multiple myeloma. Partnership follows positive interim data from REDEEM-1 Phase 1/2a trial showing 100% complete response in all six efficacy evaluable patients. All IND-enabling activities are planned to be complete by Q3 2026 to support a potential IND filing in Q4 2026 for a planned U.S. registrational study.
• Factor Bioscience Inc.flagshipStrategic or Co-development Partner · 5 February 2026Tempest closed its all-stock acquisition of dual-targeting CAR-T programs from Factor Bioscience (and affiliates, including Erigen LLC) on February 5, 2026, following stockholder approval on January 27, 2026. The transaction brought Tempest a clinical-stage CD19/BCMA CAR-T candidate (TPST-2003/ERI-2003) with a planned BLA filing in China for 2027, extended operational runway to mid-2027, and brought in Factor's co-founder Dr. Matt Angel as President and CEO of Tempest. Existing Tempest shareholders retained approximately 35% of the pro forma company.
• Erigen LLCcoreStrategic or Co-development Partner · 4 February 2026Co-seller (with Factor Bioscience) of dual-targeting CAR-T programs acquired by Tempest in an all-stock transaction completed in February 2026. Asset acquisition included TPST-2003 (CD19/BCMA CAR-T) along with other next-generation CAR-T programs. The transaction generated a $22.1 million acquired in-process R&D charge in Q1 2026.
• Novatim Immune Therapeutics (Zhejiang) Co., Ltd.flagshipStrategic or Co-development PartnerOperationalizes China clinical development of TPST-2003, TPST-2206, TPST-3003, TPST-3206, and TPST-4003 CAR-T candidates. Strategic partner supporting the planned registrational Phase 2b in China for TPST-2003 by end of 2026 and the planned BLA filing in China in 2027.
• National Cancer Institute (NCI) Cancer Prevention NetworkcoreImplementation/ SI/ Consulting PartnerOperationalizes the TPST-1495 Phase 2 clinical development in familial adenomatous polyposis (FAP). Government-sponsored research network providing clinical infrastructure and operational expertise for the FAP program.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Caribou Biosciences: Clinical-stage cell therapy company developing allogeneic CAR-T candidates (e.g., CB-010, CB-011) in oncology indications including hematologic malignancies. Directly comparable to Tempest in modality (allogeneic CAR-T), clinical-stage status, and pipeline focus on dual-targeting and next-generation cell therapy.
• Allogene Therapeutics: Clinical-stage cell therapy company pioneering allogeneic CAR-T (e.g., cemacabtagene ansegedleucel). Directly comparable to Tempest in modality (allogeneic CAR-T), oncology focus, and clinical-stage profile; both companies are pursuing next-generation cell therapy to overcome limitations of approved autologous CAR-Ts.
• CRISPR Therapeutics: Clinical-stage gene-editing company developing gene-edited allogeneic CAR-T therapies (e.g., CTX112) in oncology. Directly comparable to Tempest in clinical-stage cell therapy, oncology pipeline, and pursuit of next-generation engineered CAR-T modalities.
• Atara Biotherapeutics: Clinical-stage cell therapy company developing allogeneic T-cell and CAR-T therapies (e.g., tabelecleucel) for oncology and autoimmune indications. Comparable to Tempest in pre-commercial cell therapy focus, micro-cap status, and reliance on partnership-driven development.
• Cellectis: Clinical-stage gene-editing and cell therapy company developing allogeneic CAR-T candidates (e.g., UCART19) using its TALEN-based gene-editing platform. Directly comparable to Tempest in clinical-stage allogeneic CAR-T development and oncology focus.
• Precision BioSciences: Clinical-stage gene-editing and cell therapy company developing in vivo gene-editing and allogeneic CAR-T programs (e.g., PBCAR19B, PBCAR269A). Directly comparable to Tempest in next-generation cell therapy and in vivo modality exploration.
• Editas Medicine: Clinical-stage gene-editing and cell therapy company developing CRISPR-based ex vivo (CTX112 partnership) and in vivo (reni-cel) therapies. Comparable to Tempest in gene-editing/cell-therapy focus, clinical-stage status, and small-cap public-company profile.
• 2seventy bio: Cell therapy company developing Abecma (idecabtagene vicleucel) BCMA-directed CAR-T for multiple myeloma in partnership with Bristol Myers Squibb. Directly comparable to Tempest in BCMA CAR-T focus for multiple myeloma — a key competitive reference point for TPST-2003.

Broad incumbents

• Foghorn Therapeutics: Clinical-stage oncology company developing small molecule therapeutics targeting the chromatin regulatory system. Comparable to Tempest in small molecule oncology focus and clinical-stage public-company status, though Foghorn operates in a different mechanism space (chromatin biology vs. PPARα/EP2-EP4/TREX1).
• Bristol Myers Squibb: Large biopharmaceutical company with an established CAR-T franchise (Breyanzi, Abecma) and a broad oncology pipeline. Relevant to Tempest as a potential strategic acquirer/partner for TPST-2003 (BCMA CAR-T competing with Abecma) and as the broader commercial benchmark for next-generation CAR-T development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/Tempest_Tx

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds9 records

Investors8 records

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M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tempest Therapeutics