Tempest Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
BRISBANE, Calif. – Tempest Therapeutics, Inc. (Nasdaq: TPST), a clinical-stage oncology company specializing in the development of innovative therapeutics for cancer treatment, announced the granting of a nonqualified stock option to one of its employees under the 2023 Inducement Plan. The employee has been granted an option to purchase 7,650 shares of Tempest’s common stock.
The stock option will vest over a four-year period. Initially, 25% of the option will vest on the first anniversary of the employee’s start date. Thereafter, 1/48th of the total shares will vest monthly, subject to the employee’s continued employment on each vesting date.
We are pleased to announce the granting of this stock option to our employee, said the Compensation Committee of Tempest Therapeutics. This reinforces our commitment to recognizing and rewarding the valuable contributions of our team members. We believe that this option will serve as a powerful incentive and further align the employee’s interests with the company’s long-term success.
Tempest Therapeutics is a leading clinical-stage oncology company that focuses on the advancement of small molecules combining tumor-targeted and immune-mediated mechanisms to address a wide range of tumors. With an extensive portfolio of novel programs, ranging from early research to global studies in first-line cancer patients, Tempest aims to bring groundbreaking therapies to the market.
Among its diverse portfolio, the company’s two clinical programs, TPST-1120 and TPST-1495, are at the forefront. TPST-1120 targets the PPARα pathway, while TPST-1495 targets EP2/EP4. Both programs are undergoing rigorous trials to evaluate their potential as monotherapies and in combination with existing approved agents. Additionally, Tempest Therapeutics is developing an orally available inhibitor of TREX1, a significant target in controlling the activation of the cGAS/STING pathway.
Headquartered in Brisbane, California, Tempest Therapeutics is driven by its mission to revolutionize cancer treatment through innovation and collaboration. More information about Tempest and its groundbreaking research can be found on the company’s website.
As Tempest Therapeutics continues to make significant strides in the field of oncology, the granting of this stock option serves as a testament to the company’s commitment to fostering a talented and motivated workforce. By incentivizing employees, Tempest aims to optimize their performance and foster a collaborative environment conducive to bringing life-saving therapies to patients in need.
Disclaimer: This article is meant for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Readers should consult their financial advisors before making any investment decisions.
