Tempest Therapeutics

Tempest Therapeutics has agreed to the immediate, binding exercise of warrants to purchase 1,172,414 common shares at $1.73 per share, receiving roughly $2 million before fees. In return, the company is issuing new, unregistered short-term warrants for up to 2,344,828 shares at $1.73, whose exercise would bring an additional roughly $4 million but is not guaranteed. The capital measure is intended to bolster working capital given a current ratio of 0.74; H.C. Wainwright is acting as exclusive placement agent. Resale of the issued shares is covered by a registration statement (Form S-1), whereas the new warrants are not registered under the Securities Act. » More on de.investing.com

Tempest Therapeutics shares rose about 15.9% after H.C. Wainwright upgraded the stock from "Neutral" to "Buy" with a $11.00 price target. The upgrade follows Tempest’s strategic realignment in November 2025, in which it acquired four dual-targeting CAR-T programs from Factor Bioscience and Erigen via an equity transaction, with existing shareholders retaining roughly 35% of the pro-forma company. Analyst Joseph Pantginis notes the deal extends the company’s cash runway to mid-2027, brings new leadership (CEO Dr. Matt Angel), and gives lead program TPST-2003 time for initial clinical milestones; however, Amezalpat and TPST-1495 will require additional funding or partnerships. » More on de.investing.com

Tempest Therapeutics shares fell about 12.9% in pre-market trading after the company announced a registered direct placement to raise approximately $4.25 million. The deal calls for the sale of 1,172,414 common shares at $3.625 per share to an institutional healthcare investor; additionally, unregistered warrants for up to 1,172,414 shares will be issued with an exercise price of $3.50, which could raise about $4.1 million if fully exercised for cash. H.C. Wainwright & Co. is acting as exclusive placement agent; net proceeds are expected to be used primarily for working capital and general corporate purposes. The transaction is expected to close around November 25, 2025, and is subject to customary closing conditions. » More on de.investing.com