Recent Updates — TPST
Tempest Therapeutics adjourned its reconvened special stockholder meeting because the proposal to replace specified supermajority voting requirements and permit stockholder action by written consent failed to receive the necessary affirmative vote of at least 75% of all outstanding shares. The company engaged a proxy solicitation firm to assist in obtaining adequate votes for the measure, which requires approval by holders of at least seventy-five percent of the total votes entitled to be cast. The meeting is scheduled to reconvene on November 12, 2026, via live webcast. Tempest Therapeutics operates as a clinical-stage biotechnology company focused on developing treatments for rare diseases.
Tempest Therapeutics appointed John Frederick as a Class III director effective October 13, 2026. He will serve until the 2027 annual meeting and receives an initial option award for 25,000 shares under the company's equity incentive plan. Mr. Frederick brings over three decades of executive leadership experience in financial strategy and operational transformation from roles at Skillsoft, Indigo Ag, and Snagajob. Tempest Therapeutics is a clinical-stage biotechnology company developing in vivo CAR-T therapies for cancer and autoimmune disease.
Tempest Therapeutics entered a Master Services Agreement with Factor Bioscience to provide R&D services for in vivo CAR-T therapies, with aggregate fees of $5.0 million annually payable in monthly installments of $416,667 plus reimbursement and a 10% project management fee; the transaction is related-party as CEO Dr. Matt Angel controls Factor. The Board appointed Nancy Freda-Smith as Class III director and Audit Committee Chair to regain Nasdaq compliance after prior vacancies triggered listing rule violations. Concurrently, CFO Nicholas Rossettos resigned effective immediately, and Constance Ames was appointed as Chief Financial Officer, Principal Financial and Accounting Officer, Treasurer, and Corporate Secretary. Tempest Therapeutics is a clinical-stage biotechnology company developing in vivo CAR-T therapies for cancer and autoimmune disease.
Tempest Therapeutics entered into an exclusive collaboration, option, and license agreement with Heibei Senlang Biotechnology Co., Ltd. on September 14, 2026. The deal grants Tempest a four-month exclusive option to acquire worldwide rights (excluding Greater China) to develop and commercialize Senlang’s in vivo CAR-T technology. Exercising the option requires an approximate $447,000 fee. A definitive license would impose escalating annual maintenance fees from $10 million to $14 million over three years, a 6% royalty on net sales, and sublicense revenue sharing. Tempest must use commercially reasonable efforts to develop at least one product and meet specific IND-filing or business-development milestones. The company operates in the biotechnology industry, developing in vivo CAR-T therapies for cancer and autoimmune diseases.
Tempest Therapeutics entered into a securities purchase agreement on September 11, 2026, closing on September 15, to raise approximately $2.5 million in gross proceeds through a private placement of pre-funded warrants and accompanying Series C and D warrants. The company issued 3,105,591 pre-funded warrants at a combined price of $0.804 per unit with the common warrants exercisable at $0.805 per share. Proceeds are designated for working capital and general corporate purposes. This transaction represents significant new financing for the biotechnology company.