Momentum: Tempest Therapeutics Rides High on TPST-1120 Clinical Data
- October 11th, 2023
- 565 views
Shares of Tempest Therapeutics, Inc. (Nasdaq: TPST) surged by more than 400% in pre-market trading due to strong clinical results for TPST-1120 in the first-line treatment of patients with unresectable or metastatic hepatocellular carcinoma.
In a randomized Phase 1b/2 study, TPST-1120 combined with atezolizumab and bevacizumab showed a 30% confirmed objective response rate (ORR), outperforming the control arm's 13.3% rate. The results also favored TPST-1120 combo in progression-free survival (PFS) and overall survival (OS).
In addition, the company announced the adoption of a stockholder rights plan by its Board of Directors. This strategic move is effective immediately and is not in response to any specific takeover threat. The plan is designed to allow the board to engage with potential parties or accept acquisition proposals if it is deemed in the best interests of both Tempest and its stockholders.
$TPST was trading at $1.28 in in pre-market, up $1.04 (+433.33%)
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