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
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.)