Tempest Therapeutics, Inc. (Nasdaq: TPST) has announced an inducement grant under Nasdaq Listing Rule 5635(c)(4), granting one employee a nonqualified stock option to purchase 4,500 shares of its common stock. The option will vest over a four-year period, with 25% vesting on the first anniversary of the employee’s start date, and the remaining shares vesting monthly thereafter, contingent on continued employment.
Tempest Therapeutics is a clinical-stage oncology company focused on developing innovative therapeutics that combine targeted and immune-mediated mechanisms to treat a wide range of tumors. With a diverse portfolio of programs, the company is advancing its novel clinical programs TPST-1120 and TPST-1495, targeting PPARa and EP2/EP4, respectively. These programs are currently being studied as monotherapies and in combination with approved agents.
Additionally, Tempest is developing an orally available inhibitor of TREX1, a key target involved in controlling the activation of the cGAS/STING pathway. The company is headquartered in Brisbane, California, and its research efforts span from early-stage investigations to a randomized global study in first-line cancer patients.
Investor contacts Sylvia Wheeler and Aljanae Reynolds from Wheelhouse Life Science Advisors are available for further information regarding Tempest Therapeutics.
Tempest Therapeutics’ inducement grant reflects the company’s commitment to attracting and retaining top talent in its mission to advance its groundbreaking oncology therapeutics. The grant provides an opportunity for the employee to acquire a significant number of Tempest Therapeutics’ common stock, aligning their interests with the company’s long-term goals and success.
The stock option’s vesting structure, spread over a four-year period, emphasizes the importance of continued employment and incentivizes the employee’s contribution to the company’s growth and success. By providing a gradual vesting schedule, Tempest Therapeutics ensures ongoing engagement and dedication from its employees.
As Tempest Therapeutics continues to develop its pipeline of innovative oncology therapeutics, including TPST-1120, TPST-1495, and the TREX1 inhibitor, the company remains committed to advancing the field of oncology and providing hope for patients in need of new treatment options. With a focus on combining tumor-targeted and immune-mediated mechanisms, Tempest Therapeutics aims to deliver breakthrough therapies that have the potential to revolutionize cancer care.
For additional information on Tempest Therapeutics’ ongoing research and development efforts, please visit the company’s official website.
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