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TPST — Tempest Therapeutics News Story

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Tempest Therapeutics posts smaller-than-expected Q2 net loss

Overview

Tempest Therapeutics reports smaller-than-expected Q2 net loss

Reports adjusted EPS of -$2.07

Co received clearance for pivotal trial of amezalpat in China

Outlook

Company exploring strategic alternatives to maximize stockholder value

Result Drivers

COST MANAGEMENT - Decrease in R&D expenses due to reprioritization of efforts towards strategic alternatives

FINANCIAL STRATEGY - Strengthened cash position through $4.6 mln stock offering and strategic alternatives exploration

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 EPS-$2.07-$2.6 (2 Analysts)
Q2 Net Income-$7.87 mln-$11.90 mln (1 Analyst)
Q2 Operating Income-$7.97 mln
Analyst Coverage The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell" The average consensus recommendation for the biotechnology & medical research peer group is "buy." Wall Street's median 12-month price target for Tempest Therapeutics Inc is $9.00, about 18.2% above its August 8 closing price of $7.36 Press Release: ID:nGNX4TdTbc (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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