Tempest Therapeutics, Inc. (TPST) AI Stock Summary

Snapshot

Tempest is a clinical-stage cancer and cell-therapy biotech with no revenue, losing $26.3M in FY 2025 and burning through cash. As of its latest quarterly update, cash had dropped to just $0.8M after burning $10.4M in six months, and the company's own auditors flagged substantial doubt about its ability to keep operating. Recent capital raises and warrant exercises have kept the lights on, but the share count has also been repeatedly diluted.

What's Happening Right Now

• Fri 14th Aug '26 · Governance: A special stockholder meeting to remove supermajority voting requirements was adjourned to August 17, 2026 after insufficient votes were cast to approve the charter change.
• Thu 13th Aug '26 · Earnings: Q2 2026 net loss was $5.2M, cash fell to just $0.8M from $7.7M at year-end, but the company reported a 100% complete response rate across 15 patients in an early CAR-T trial and named new board members and a business development lead.
• Tue 21st Jul '26 · Partnership: Tempest partnered with Senlang Biotechnology to co-develop TPST-4003, a CD7-targeted in vivo CAR-T candidate, starting with a small investigator-led trial in China for autoimmune disease patients.
• Wed 8th Jul '26 · Financing: A prospectus filing tied to warrant resales disclosed that the company's auditors have raised substantial doubt about its ability to continue as a going concern.
• Tue 23rd Jun '26 · Dilution: Stockholders approved issuing up to roughly 4.2 million new shares tied to warrant exercises under Nasdaq rules.

Ownership

Institutions hold 12.7%, insiders hold 0.0%.

Bottom Line

This is a pre-revenue biotech in serious financial distress: its own auditors have raised doubt about its ability to keep operating, and cash on hand had shrunk to under $1M as of the last update against a burn rate of over $10M per half-year. The recent CAR-T partnership and trial data are notable scientific developments, but they don't change the near-term cash picture, and the company has relied on warrant exercises and share issuances just to keep funding operations. A reader here is looking at a company whose survival, not its growth rate, is the open question.