Tempest Reports First Quarter 2026 Financial Results and Provides Business Update
View original at globenewswire.com“Tempest ended the quarter with $1.8 million in cash and cash equivalents, compared to $7.7 million on December 31, 2025.”
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100% complete response (CR) rate was observed among all 15 CAR-T-naïve efficacy evaluable patients treated with TPST-2003 across the REDEEM-1 and POEMS-1 trials
60% confidenceThe $7.5M decrease in R&D expenses in Q1 2026 vs Q1 2025 was primarily due to a decrease in costs from re-prioritizing efforts towards exploring strategic alternatives initiated in April 2025 and resulting in the Asset Acquisition completed in February 2026
60% confidence44 patients with relapsed/refractory multiple myeloma have been treated with TPST-2003 to date across three studies
60% confidenceTPST-2003 demonstrated a favorable safety profile with no Grade ≥3 cytokine release syndrome (CRS) or immune effector cell-associated neurotoxicity syndrome (ICANS) in the REDEEM-1 trial, which appears to be emerging as a potentially differentiating attribute in its class
60% confidenceThe prior investigator-initiated trial (IIT) of TPST-2003 reached a median progression free survival (PFS) of 23.1 months, including in patients with extramedullary disease
60% confidenceAndrew Fang's appointment as Head of Business Development, with a focus on strategic partnerships, licensing, and corporate transactions including China outreach, will help position Tempest for long-term growth
60% confidenceA biologics license application (BLA) filing in China for TPST-2003 is planned for 2027, funded by a strategic partner
60% confidenceTempest plans to initiate the first potentially registrational study to evaluate a dual-targeting CAR-T therapy in patients with rrMM, including patients with extramedullary disease, later in 2026
60% confidenceStrong progress was made in Q1 2026 as key activities supporting the planned U.S. registrational study of TPST-2003 in rrMM were advanced, including announcing AGCTC as lead manufacturing partner and taking delivery of the TPST-2003 lentiviral vector
60% confidenceThe $2.1M increase in G&A expenses in Q1 2026 vs Q1 2025 was primarily due to one-time costs resulting from the Asset Acquisition completed in February 2026
60% confidenceThe decrease in cash from $7.7M to $1.8M in Q1 2026 was primarily due to one-time transaction-associated costs from the Asset Acquisition, offset by $1.7M net proceeds from the 2026 Offering
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